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Safin's Trading Journal

  #241 (permalink)
 safin 
London, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES, CL Futures
Posts: 273 since Jun 2010
Thanks Given: 147
Thanks Received: 340

25-March
----------
No trades today. I think I was not ready mentally. May be next week is a better week.

Have a good weekend.

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  #242 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
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Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,464 since Jun 2009
Thanks Given: 33,242
Thanks Received: 101,662


safin View Post
Hi Mike
No change in method, it's still same. I was SIM before and now live. I am less aggressive with live account them SIM. That's one reason I may be losing. But even with live account I was making profit consistently. Less aggressive but profitable. It seems like I have lost track of regular trading. Getting busier and not enough time to look at charts everyday.

Sim vs. live, that is it.

You need to go back and be honest about your previous sim trading vs current cash trading. Analyze the differences and try to rectify them.

Was your sim trading realistic? For your cash trading? Stops, losses, risks? Personality wise, risk averse wise? If not then you need to go back to sim and make it realisticly how you can "stand" to trade cash.

Look bottom line making money on sim is very easy for most. You've got your answer and now the hard work begins You will learn the most while trading cash, so you need to minimize risks and losses so you can survive a long period of learning.

You need to share more details in your journal, imo. Be 1000% honest with all the trades you are taking. List why you entered and why you exited. And these are the reasons you clicked the button, not the reasons you come up with 30 minutes after the fact, Very important.

Then just collect data, slow and steady, position yourself to be able to afford to stay in the game while you turn the corner.

Mike



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  #243 (permalink)
 safin 
London, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES, CL Futures
Posts: 273 since Jun 2010
Thanks Given: 147
Thanks Received: 340


Hi Mike
Thank you for your insights. I know it would be very helpful to me if I treat my SIM trading same as Live. That's what I tried to do when I was doing SIM trading, keeping in mind what my limits are and how much I can afford to lose. But I think there is still a huge difference between SIM and Live, atleast for me. I can not treat SIM same as Live. It would make more sense to me if I continue with Live trading and also SIM trading along with it to prove certain concepts. My account is not blown yet So I am still in the game. Live trading will be more close to what my abilities are rather than being so successful in SIM for some time and then totally different in live.

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  #244 (permalink)
 safin 
London, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES, CL Futures
Posts: 273 since Jun 2010
Thanks Given: 147
Thanks Received: 340

28-March
----------
No trades today. I monitored market during morning time. Most of instruments were very choppy. Then in afternoon I was too busy to trade.

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  #245 (permalink)
 safin 
London, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES, CL Futures
Posts: 273 since Jun 2010
Thanks Given: 147
Thanks Received: 340

29-March
-----------
Total Profit : 1 tick (CL, 1 order)
Entry Price : 104.26
Reason for entry : Swing resistance @104.24. It was touched 3 times, so it was a strong resistance.104.25 is major price mark. So entered 1 tick above
Profit Target : 20 ticks
Stop Loss : 20 ticks
Exit : BE+1.
Reason for Exit : Moved stop to BE+1 after +7 ticks. It got hit.
Quality of execution : Good. No nervousness. Confident with both entry and exits.

Today I have tried to change my way of doing journal a bit considering Mike's advise. It should help me to figure out good and bad entry/exits.

Other than this one live trade I did a SIM trade using inside bar on 5 minutes chart. I was just experimenting with that one.

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  #246 (permalink)
 safin 
London, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES, CL Futures
Posts: 273 since Jun 2010
Thanks Given: 147
Thanks Received: 340

March 30 & 31
----------------
No trades. I was busy from yesterday so could not do any trading.

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  #247 (permalink)
 safin 
London, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES, CL Futures
Posts: 273 since Jun 2010
Thanks Given: 147
Thanks Received: 340

1-April
--------
Total Profit : 14 ticks (6S, 1 trade)
Entry Price : 1.0800
Reason for entry : Swing resistance @1.0800. 6S did nice breakouts through swing lines in morning. Long Stop Limit order @1.0801.
Profit Target : 14 ticks
Stop Loss : 20 ticks
Exit : 14 ticks
Reason for Exit : Profit Target
Quality of execution : Good entry. When I was in trade, I thought about changing profit target to 17 ticks because it looked a strong move. But then couldn't do it because of fear. 6S moved 25 ticks more later.

Other than that I also did 2 more SIM trades on CL that gave me 34 ticks. Today was a good trending day. My trades works very well when during a trending day.

Good day to end this week. Have a nice weekend everyone.

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  #248 (permalink)
 safin 
London, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES, CL Futures
Posts: 273 since Jun 2010
Thanks Given: 147
Thanks Received: 340

4-April
--------
Total Profit : -10 ticks (6C, 1 trade)
Entry Price : 1.0314
Reason for entry : Swing support @1.00315. 6C did good breakouts through swing lines in morning. Short Stop Limit order @1.0314.
Profit Target : 10 ticks
Stop Loss : 15 ticks
Exit : -10 ticks
Reason for Exit : Moved Stop Loss.
Quality of execution : Good entry. But later I changed my stop to 10 ticks from 15 ticks. 6C seem reversing because it broke Lower High. It did not follow previous swing breakouts.

Other than that I did 2 SIM trades on CL using Inside Bar scalps. It gave me 15 ticks.

After this trade all of the markets seem very choppy. So I just stayed away from trading.

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Name:	CL 15 ticks.png
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ID:	35845  
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  #249 (permalink)
 safin 
London, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES, CL Futures
Posts: 273 since Jun 2010
Thanks Given: 147
Thanks Received: 340

5-April
--------
Market was very choppy today. So I stayed away from live trading. I did one SIM trade on CL using IB that gave me 6 ticks. Chart attached.

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Name:	CL IB SIM Trade +6 ticks.png
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ID:	35940  
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  #250 (permalink)
 safin 
London, Ontario
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES, CL Futures
Posts: 273 since Jun 2010
Thanks Given: 147
Thanks Received: 340


6-April
--------
Total Profit : 5 ticks (2 trades)
First Trade : -15 ticks (6S)

Entry Price : 1.0917
Reason for entry : Swing resistance@1.0917. 6S did good breakouts through swing lines in morning. Short Stop Limit order @1.0917
Profit Target : 16 ticks @1.0933
Stop Loss : -15 ticks @1.0902 (1 tick below previous bar low)
Exit : -15 ticks
Reason for Exit : Stop Loss.
Quality of execution : Good entry as per my rules. But unfortunately 6S went into a chop and my stop was hit. It may have been saved if I kept my stop @1.0900 which is a major price mark. Atleast I could have chance to exit at BE+1.

Second Trade : 20 ticks (CL)
Entry Price : 108.38
Reason for entry : Double inside bars on 5 minutes chart. Entered long 1 tick above second inside bar. I was experimenting inside bar trades on CL from last few days. I thought it's time to use it in live.
Profit Target : 20 ticks @108.58
Stop Loss : -12 ticks @108.26 (1 tick below previous bar low)
Exit : 20 ticks
Reason for Exit : Profit target reached.
Quality of execution : Good entry. I was a little nervous during trade because this was my first time inside bar trade on 5 minutes chart on live market. But glad it worked as planned.

Charts attached for both trades.

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Name:	CL 20 ticks.png
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ID:	36012  
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Last Updated on March 30, 2012


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