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Trading all CL gaps, filtering out by gap size (gap must be larger than MinGapSize). Notice how poorly it did in the summer of 2008. This was when oil was soaring to $150 (per Goldman) then tanked hard later that year. This begs for volatility-based filters, or trade-with-trend considerations.
Trading 3 cars like MN: target 1/4, 1/2 and full gap fill, stop = target on each car, no stop adjustment. Larger gaps give a better edge but with fewer trades (less commission).
Monday, December 20th - I'm fully recovered on the month with a nice gap trade on TF. I now have a small profit. I tried a first-hour breakout trade which came 1 tick from my target then turned around for a BE+1 trade.
Tuesday, December 21st - No gap trades, but I took a first-hour range breakout trade on YM. After entry the market just sputtered around then made a large up and then down move at the close, yielding me a whopping 1 tick gain. If I had looked to entering on the retrace, which I sometimes do, I would have had my limit order at 11460, which it did touch but I might not have been filled there as that was the low of the move after the breakout.
Wednesday, December 22nd - Another slow-moving, narrow-ranged day. I took 2 extended target gap trades since the gaps were so small, but I ended up with partial losses on both of them.
I think what was interesting was that most of the money was made in the first few years and the last 5 years has been relatively calm or slightly positive.
I was going through your journal. My guess is that he makes a lot more money off of selling his course than any losses from trading. I noticed you were talking about quitting etc..
One thing I find interesting is look at all the people on Big Mike's, Forex Factory etc... What you will find is that I have yet to find a solid trader doing a journal of their trades day-in-day-out (no cherry picking) with 'proof' of their trades. For some reason they just don't exist or I am not aware of it. Everyone puts a 'line' on their chart when they could show chart markers or people just put down what they supposedly did. They don't prove 'full positions', etc..
You have the courage to go into the frontlines and show how you are "shooting your bullets". I am a Pacifist, so maybe not the best analogy, but my point is that you are on a path less traveled for sure.
I am like you and think like you about trading. The question that I continue to ask myself is how come the 'successful' traders all give advice but will never show real charts, real brokerage statements and real trades?
Maybe I am wrong, but I believe the 5% of traders is a Myth and that it is probably closer to 1% and those are the people who are not 'selling' services. Those are people who understand that you can make a butt-load more money like Cohen and others by trading OPM. Maybe I am wrong or biased.
Now, this all may seem depressing, critical, limited thinking, etc.. But, my main point is that you are truly doing something that most people don't have the cajones to do. You are definitely a top trader in my opinion for risking your capital and actually doing what you say you are doing. You are if not in the 1% (profitable), then at least you in the in 2nd 1%. haha...
Thanks for sharing your journal as it saves and helps by educating others.
