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Starting trading futures live again today...


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Starting trading futures live again today...

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  #21 (permalink)
Langley
 
Experience: Intermediate
Platform: IB
Trading: Futures
 
Posts: 225 since Mar 2020
Thanks: 248 given, 191 received

I like writing directly on my screen as it forces me to do what I should and then it stays there vs posting lots of word here. So I think Ill keep doing thata and post updated charts and stats.

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  #22 (permalink)
Langley
 
Experience: Intermediate
Platform: IB
Trading: Futures
 
Posts: 225 since Mar 2020
Thanks: 248 given, 191 received

Morning traders. Morning of May 26th...

Here was how my last trade from last night ended... with a loss.

First trade of day a winner. Busy day. I will post updated charts and stats when I can.

I am profitable since going live but barely. All my stats are AFTER commissions, cost and slippage though so I dont think I'm doing too bad.

My consistency after day two has improved tremendously. Very choppy first two days as I reverted back to bad habits immediately after going live.

Been alot better.




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  #23 (permalink)
Langley
 
Experience: Intermediate
Platform: IB
Trading: Futures
 
Posts: 225 since Mar 2020
Thanks: 248 given, 191 received


No time to annotate. Really should not have been trading at all.

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  #24 (permalink)
Langley
 
Experience: Intermediate
Platform: IB
Trading: Futures
 
Posts: 225 since Mar 2020
Thanks: 248 given, 191 received

Morning of May 28...

Yesterday I closed the day below profitable for the first time since going live. I was struggling to break far above break even for days. Equity curve going up before ending back at near even after a day or so each time.

So I then widened both my stops and my targets. This was a mistake for me as short term moves are much easier to spot and my entries were almost random (not that I give much credence to entries but not to this extent) so I ended up taking big hits and a low hit rate so thats bad math...

Need to improve my focus. Will update tonight and post charts.

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  #25 (permalink)
Detroit MI/USA
 
Experience: Advanced
Platform: Multicharts, Custom own
Trading: All Futures
 
Posts: 65 since Sep 2017
Thanks: 37 given, 189 received


Sandpaddict View Post
Closing this journal. Two reasons mainly. One, the method I have been developing was consistently profitable for a few weeks on the sim before I started trading live.

I also started journaling that day same day. I cammed my screens and annotated my thoughts about the trades directly on my charts before and as they were happening and I have to go back and watch as I was in total control. Winning trades doesn't mean good trading! But being confident and in control does!

Although it started just like the sim my psychology changed soon after. I was break even or net positive everyday till recently. I started out feeling very confident and trading very well (according to my method) then, I don't know how to say it other than my behavior soon changed after awhile and started diverging from my sim trading. Again I'm not talking about winning and losing I'm talking about confidence and control.

Second reason is as I said I started journaling the same day I went live and someone attacked my trading. I was not ready for that because for the last six years Ive been studing on my own. He attacked my trading style, my chance of ever making any money and told me I was purely gambling.

Im embarrassed to say but thats why I started this journal was to be honest. Well, HE GOT TO ME! Now I was under the gun to prove myself (again after all theae years) and my trading!

Day after day I got more scared not to trade amazing and let this guy know he was not right! Right now I am just below break even after all fees and commissions.

I AM going to participate on the forum but I AM NOT GOING to do another public journal EVEN if im ridiculously profitable and totally confident. If I do it'll be private by invite only.

Thanks ASSH@LE!!!

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Sir, I didn’t attack your trading, it is your perception that you were attacked. I was simply pointing out that your methodology would never work and was trying to be really blunt to save you weeks/months/years of trying to develop some system that from the outset could be seen to be totally impractical. I want to reiterate what I said earlier - sim trading does not help actual trading in the least as you have no emotional risk on the line while play trading. Just by putting a really small amount of money on the line using the micro’s (which is absolutely the right and best way to do it from the outset once you have your entire methodology/system fully developed) you realized that trading became a whole new ballgame. On the sim you do not train the most important part of the trading machine, the mind. It is easy to throw trades on carelessly on the sim, not worrying about any drawdown because it is imaginary money, but all that changes with real money on the line. If you decide you want to be successful in trading (which it certainly seems you do) go back to the charts and just look at them for days on end and you might see things you weren’t aware of because you were following the wrong path on the sim. Develop a system that you think will be successful BUT with a real reasonable stop. When you have all the components of the system in place, go directly to the micros to test it, and stick to the rules religiously. You will soon see if your system can stand the rigours of yourself and the market itself. Keep doing this until you have something that works. Aim to train your mind to disassociate from winners and losers- aim to just simply follow your rules to the nth degree. Hopefully you will be able to make it in this very difficult endeavour and I have to say, if I had a small part in getting you to abandon the way in which you were attempting to trade, I wear the a$$hole label as a badge of honour.
Good luck to you.

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  #26 (permalink)
Langley
 
Experience: Intermediate
Platform: IB
Trading: Futures
 
Posts: 225 since Mar 2020
Thanks: 248 given, 191 received


TraderDoc007 View Post
Sir, I didn’t attack your trading, it is your perception that you were attacked. I was simply pointing out that your methodology would never work and was trying to be really blunt to save you weeks/months/years of trying to develop some system that from the outset could be seen to be totally impractical. I want to reiterate what I said earlier - sim trading does not help actual trading in the least as you have no emotional risk on the line while play trading. Just by putting a really small amount of money on the line using the micro’s (which is absolutely the right and best way to do it from the outset once you have your entire methodology/system fully developed) you realized that trading became a whole new ballgame. On the sim you do not train the most important part of the trading machine, the mind. It is easy to throw trades on carelessly on the sim, not worrying about any drawdown because it is imaginary money, but all that changes with real money on the line. If you decide you want to be successful in trading (which it certainly seems you do) go back to the charts and just look at them for days on end and you might see things you weren’t aware of because you were following the wrong path on the sim. Develop a system that you think will be successful BUT with a real reasonable stop. When you have all the components of the system in place, go directly to the micros to test it, and stick to the rules religiously. You will soon see if your system can stand the rigours of yourself and the market itself. Keep doing this until you have something that works. Aim to train your mind to disassociate from winners and losers- aim to just simply follow your rules to the nth degree. Hopefully you will be able to make it in this very difficult endeavour and I have to say, if I had a small part in getting you to abandon the way in which you were attempting to trade, I wear the a$$hole label as a badge of honour.
Good luck to you.

TraderDoc007 that post really means alot. Theres alot in there and its all true.

Also I am continuing my journal for two reasons. One I still want to be accountable to myself and I was absolutely NOT trading live like I was on the sim.

Its a great wake up call looking back. What a joke.

Please do feel feel to give advice as you clearly DO know what your talking about.

This is how I trade but need to focus on taking proper entries and mitigation of risk, after all this is REAL money. I AM live trading the micro eminis.

Secondly I've read about Big Mike's Journal Charity Challenge. What a great cause!

Thank you TraderDoc007 and all the best trading to you as well!

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  #27 (permalink)
Langley
 
Experience: Intermediate
Platform: IB
Trading: Futures
 
Posts: 225 since Mar 2020
Thanks: 248 given, 191 received

Sunday evening...May 31rst. Started just lovely lol. I was messing with my settings over the weekend and missed a - !!!

This is where TraderDoc007 is right. Do I really want to be trading full emini contracts and have such stupid errors?

So far am proud of my trading. Even that FULL STOP LOSS. Can't win them all and thats why they're ALWAYS there!

I just need to watch those losses and make sure I let my winners go for both a high enough hit rate as well as large enough to cover those occasional full stop outs such as that one.

So far so good...



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  #28 (permalink)
Langley
 
Experience: Intermediate
Platform: IB
Trading: Futures
 
Posts: 225 since Mar 2020
Thanks: 248 given, 191 received

Updated chart.

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  #29 (permalink)
Langley
 
Experience: Intermediate
Platform: IB
Trading: Futures
 
Posts: 225 since Mar 2020
Thanks: 248 given, 191 received

Last trade of the night. Let's see where it goes...

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  #30 (permalink)
Langley
 
Experience: Intermediate
Platform: IB
Trading: Futures
 
Posts: 225 since Mar 2020
Thanks: 248 given, 191 received


This is how the last trade of the night ended for me. The total for the night is 1.4 points after all commissions, fees, and slippage.

Not great but not in the red either.

Thank you and have a good night.

Good trading.

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