ZachC's First Futures account: My Trade Journey - futures io
futures io futures trading



ZachC's First Futures account: My Trade Journey


Discussion in Trading Journals

Updated by NW Trader
      Top Posters
    1. looks_one ZachC with 9 posts (8 thanks)
    2. looks_two NW Trader with 2 posts (1 thanks)
    3. looks_3 Quick Summary with 1 posts (0 thanks)
    4. looks_4 mtzimmer1 with 1 posts (1 thanks)
    1. trending_up 804 views
    2. thumb_up 10 thanks given
    3. group 3 followers
    1. forum 12 replies
    2. attach_file 10 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

ZachC's First Futures account: My Trade Journey

(login for full post details)
  #1 (permalink)
Pennsylvania
 
Experience: Intermediate
Platform: ThinkorSwim
Broker: TastyTrade
Trading: Micro ES and Micro YM
 
ZachC's Avatar
 
Posts: 11 since Jun 2019
Thanks: 12 given, 10 received

Ok since this is my first go at futures I am going to keep things very simple until I get into a groove.
I trade while I am at work during the day. I work in an IT office so interruptions are unavoidable. I will note if any trades are affected by this in my daily journal.

Account: $1,000
Brokerage: TastyWorks
Charting: ThinkOrSwim

Trade Rules:
Product: /MES
Time Frame: Mon - Friday | 9:30am to 11:30am
Intraday trades only, the account will be flat after 11:30 am
Size: 1 Contract (for now)
Entry Rules: TTM_Pivot, TTM_SQZ, $TIKSP
First trades placed after the open auction is completed
Market Guidance: Provided by $TIKSP indicating market extremes, volume profile, and vwap
Exit: 3 Point Stop | Trend Reversal with confirming SQZ

I am looking for feedback to advance my trade plan and ultimately become a well structured trader. I like building systems and I look forward to sharing them with everyone.

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following 5 users say Thank You to ZachC for this post:

 
 
(login for full post details)
  #3 (permalink)
Pennsylvania
 
Experience: Intermediate
Platform: ThinkorSwim
Broker: TastyTrade
Trading: Micro ES and Micro YM
 
ZachC's Avatar
 
Posts: 11 since Jun 2019
Thanks: 12 given, 10 received


Here is today's Journal. I will be on the road tomorrow so my next update will be on Monday the 15th

Lots of Vol in the market today provided a few decent trends. I could have done much better with my entries today. My last exit was spot on, however.

Journal Entry


Chart with Entry and Exit

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #4 (permalink)
Seattle WA/USA
 
Experience: Intermediate
Platform: NinjaTrader 8
Broker: NinjaTrader
Trading: CL, YM, ES
 
NW Trader's Avatar
 
Posts: 305 since Sep 2018
Thanks: 495 given, 1,082 received

I'm certainly no market wizard, but your results today look very good! Must be on the right path.

Follow me on Twitter Reply With Quote
The following user says Thank You to NW Trader for this post:
 
(login for full post details)
  #5 (permalink)
Pennsylvania
 
Experience: Intermediate
Platform: ThinkorSwim
Broker: TastyTrade
Trading: Micro ES and Micro YM
 
ZachC's Avatar
 
Posts: 11 since Jun 2019
Thanks: 12 given, 10 received


NW Trader View Post
I'm certainly no market wizard, but your results today look very good! Must be on the right path.

Thanks! I sure hope so.

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #6 (permalink)
Pennsylvania
 
Experience: Intermediate
Platform: ThinkorSwim
Broker: TastyTrade
Trading: Micro ES and Micro YM
 
ZachC's Avatar
 
Posts: 11 since Jun 2019
Thanks: 12 given, 10 received

Sure was a boring day in MES. I was only able to place one trade that met my criteria during my trading hours.

Critiques for Today
  • I need to work on how I am going to deal with interruptions and patience while making these trades at work.
  • I need to start planning my targets a little better. Since I am only trading 1 lots I don't have the ability to scale out so I need to make every trade count. If I could plan better resting orders I might have a better chance to deal with interruptions and not miss out on the meat of the move. It will also help me with my patience which was an issue today.
  • My account can support another 1 lot I may consider adding this after a get more trades in.
  • Patience caused me to give up 2pts. I know that the probability of the price retracing to the POC and bouncing down is pretty high yet I pulled the trigger a little early.

P/L Today: $11
Daily Return: 1.13%
P/L YTD: $24
Yearly Return: 1.84%





Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #7 (permalink)
Pennsylvania
 
Experience: Intermediate
Platform: ThinkorSwim
Broker: TastyTrade
Trading: Micro ES and Micro YM
 
ZachC's Avatar
 
Posts: 11 since Jun 2019
Thanks: 12 given, 10 received

We opened the day in range and in Chop with low volume.
After watching a few bars I decided that I would skip today and wait for a better setup.

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #8 (permalink)
Pennsylvania
 
Experience: Intermediate
Platform: ThinkorSwim
Broker: TastyTrade
Trading: Micro ES and Micro YM
 
ZachC's Avatar
 
Posts: 11 since Jun 2019
Thanks: 12 given, 10 received

It's about time the market decided to pick a direction and it seems that the market has decided to take a negative outlook to the future rate cuts from the FED. I realized that I could keep taking teaspoons of value from the market but on the flip side I am trying to forward test the strategy live and the more trades I make the better I can gauge my setup.

So I added another 1k so I could comfortable add another contract and start scaling out of trades. My target will be to generate enough $$ to add one more contract so that I can have a runner position. This position would have done quite well today, unfortunately, capital is always a constraint.

Daily Trade Chart


Daily P/L

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to ZachC for this post:
 
(login for full post details)
  #9 (permalink)
Legendary Market Wizard
Upstate NY
 
Experience: Intermediate
Platform: TOS
Trading: Equities, Treasuries, Gold
 
mtzimmer1's Avatar
 
Posts: 636 since Dec 2018
Thanks: 1,678 given, 1,359 received

Best of luck to you! Adhere to the plan and you'll do very well. Seems like a sound system you have developed.

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to mtzimmer1 for this post:
 
(login for full post details)
  #10 (permalink)
Pennsylvania
 
Experience: Intermediate
Platform: ThinkorSwim
Broker: TastyTrade
Trading: Micro ES and Micro YM
 
ZachC's Avatar
 
Posts: 11 since Jun 2019
Thanks: 12 given, 10 received


Yikes well, today was a humbling day. I have come off my 4-day winning streak with a loss and a trade I should never have taken.

Trade 1:
I was looking for a short trend down to test the overnight low before bouncing back up to test the overnight high and subsequently try to go long when everyone starts to buy the dip. I was able to enter in at a reasonable price although I could have waited a little longer to take a short closer to the overnight high I grabbed my position a few ticks low.

Trade 2:
This trade should never have happened. I was busy switching screens back to my work screen to take care of people coming into my office as well as phone calls etc. I quickly noticed that my stop had not been breached yet, but we were continuing to test the overnight high, so I made an executive trading decision to add to my short position without checking my indicators or a larger time frame. Bad move only about 5 minutes later was I stopped out of my first position and another ten after that I closed the trade due to the volume of work here in the office.

Lessons Learned
  1. If I am committed to trading two contracts I need to trade two contracts consistently.
  2. I need to start checking higher time frames to see if my analysis of the market is still valid.
  3. No more adding to losing trades
  4. If I am getting busy and I can't focus on trading, and my position is underwater but not stopped out I will cut my losses and trade another day.

Chart:


P/L:

Follow me on Twitter Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to ZachC for this post:


futures io Trading Community Trading Journals > ZachC's First Futures account: My Trade Journey


July 21, 2019


Upcoming Webinars and Events
     



Copyright © 2020 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts