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Starting trading futures live again today...


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Starting trading futures live again today...

  #1 (permalink)
Langley
 
Experience: Intermediate
Platform: IB
Trading: Futures
 
Posts: 61 since Mar 2020
Thanks: 15 given, 28 received

Starting trading futures live again today...

Hello FIO. I'm starting to trade live again after about a six month break. Ive been trading amazing on the sim (of course!)

One difference for me is I've been camming my screen and annotating it before as well as after each trade and any analysis I see REAL TIME. You just CANNOT argue with it! Its recorded, its there, you wrote it and seen it in REAL time!

This approach works for me vs the post trading journaling in excel or tradervue ect approach which I've tried to analyze for years for my style, edge, avg win/loss, SQN, expectancy ect ect... (and to which I just cannot keep up anyway).

And seeing as Ive been at this for over 5 years not always trading live but always learning, always testing, learning coding, backtesting and ALWAYS simming Ive come to an amazing conclusion...

For ME to be profitable...

I CANNOT TRADE LIKE ANYONE ELSE!

And you know what... it DOESN'T MATTER as long as YOUR PROFITABLE!

If your strategy only wins %10 but your winners are so large your strategy is profitable is just as good as if your your percentage is high but when you lose you give most of your profits back but the strategy is still profitable.

And thats the purpose of this post. Im going to VIDEO CAM every trade and try to annotate my thoughts REAL time. I dont have a system I have a process. I cannot trade like anyone Ive ever heard of (Ive studied so much I'd like to be suprised at this point to come across something truly novel.) I can barely outline my "SETUPS" but I CAN articulate what Im thinking.

Loosening up the "rules" and going with the flow is now more my style.

I scalp for some points. I day trade all day and night. My stop is ridiculous wide (I always have a stop in the live markets) but it almost never gets hit... but it does. I believe if theres movement and liquidity it can be traded...

NO ONE SHOULD TRADE LIKE THIS. (But after years of refinement this is just how I trade.)

Not sure how to report gains/losses. I guess Ill report my gains and losses in points as thats the only real measure of a profitable sytem as far as im concerned. I am a retail trader and always will be so of course Im not as obsessed with risk adjusted returns as managed money. I do of course take great care to manage risk.

This is as much for me for ACCOUNTABILITY as it is to share as Ive been blessed with many great teachers hopefully someone can find something of value here.

Ive found after a certain point you just need to hunker down and trade.

Well here it is... lets go!

End of day update...

Cant post pictures yet but will as soon as I have permission. 14 trades on the micro emini. 8.8 points after commissions and slippage. This is a typical day on sim so very surprised but as they say "one day ain't sh;t!"



Sent using the futures.io mobile app


Last edited by Sandpaddict; May 20th, 2020 at 04:17 PM. Reason: End of first day update.
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  #2 (permalink)
Langley
 
Experience: Intermediate
Platform: IB
Trading: Futures
 
Posts: 61 since Mar 2020
Thanks: 15 given, 28 received

So just before start of second day. I have traded overnight as I usually do despite usually lesser results but thats what I do.

I ended yesterday with a gain of 8.8 emini points. Today I am starting down 20 points! For a start of minus 14.2 points.

Looking at my after hours charts. I made 3 discretionary interjections 2 of them cost me alot! Each of the 2 times cost me 2X maximum risk! That is ok. That is my system. Just not at all that impressed with myself.

Todays a new day and Ill climb out. No panic. Ill update as day goes on.

Here we go!

Post charts as soon as they will let me.

Early day update...

Heres something I noticed right away going live, but is seems to be increasing in intensity im me as time progresses.

It's the drive to DO SOMETHING!...
Take that small gain...
Cut that loss, itll go all the way to stop...
Its turning! Reverse position!

Of course these are usually exactly the wrong things to do as YOUVE DECIDED BEFORE HAND this was a good trade win lose or draw. Then you manage it. Or at least I do... but...

In 24 hrs of being live Ive messed with my system more than I would in a week on sim.

You are ONLY ever smarter than the market when your NOT IN the market!

I try not to ever mess with my winning trades, only manage losers. Going live makes me want to do the opposite because it feels more comfortable to get out of the uncomfortableness... DONT!

That uncomfortableness is just insecurity about your system. Just trade it and get consistent.

Remember what Jesse Livermore said... (paraphrasing) it was never the doing that made me money, it was the sitting on my hands.

Mid-day update...

After my post earlier my intraday losses exceeded 30 points! This is on the outside of the bell curve but not an outlier.

I could make excuses but I interfered when I shouldnt have and then I took some big hits as I was shy to interfere again when maybe I should have. All part of the process. At this moment im still down 5.6 points but above where I started this morning yet shy of the start yesterday. Update at end of day.

End of day update.

Ended with a profit of 5.8 after an intraday drawdown of over 30 points!

ALL my posts are AFTER commissions and slippage.

First day profits: 8.8 points
Second day profits: 5.8 points

Not sure why I cant post screenshots of my charts. I see others posting? Will figure out.


Last edited by Sandpaddict; May 21st, 2020 at 07:01 PM. Reason: .
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  #3 (permalink)
Langley
 
Experience: Intermediate
Platform: IB
Trading: Futures
 
Posts: 61 since Mar 2020
Thanks: 15 given, 28 received



Sandpaddict View Post
Hello FIO. I'm starting to trade live again after about a six month break. Ive been trading amazing on the sim (of course!)

One difference for me is I've been camming my screen and annotating it before as well as after each trade and any analysis I see REAL TIME. You just CANNOT argue with it! Its recorded, its there, you wrote it and seen it in REAL time!

This approach works for me vs the post trading journaling in excel or tradervue ect approach which I've tried to analyze for years for my style, edge, avg win/loss, SQN, expectancy ect ect... (and to which I just cannot keep up anyway).

And seeing as Ive been at this for over 5 years not always trading live but always learning, always testing, learning coding, backtesting and ALWAYS simming Ive come to an amazing conclusion...

For ME to be profitable...

I CANNOT TRADE LIKE ANYONE ELSE!

And you know what... it DOESN'T MATTER as long as YOUR PROFITABLE!

If your strategy only wins %10 but your winners are so large your strategy is profitable is just as good as if your your percentage is high but when you lose you give most of your profits back but the strategy is still profitable.

And thats the purpose of this post. Im going to VIDEO CAM every trade and try to annotate my thoughts REAL time. I dont have a system I have a process. I cannot trade like anyone Ive ever heard of (Ive studied so much I'd like to be suprised at this point to come across something truly novel.) I can barely outline my "SETUPS" but I CAN articulate what Im thinking.

Loosening up the "rules" and going with the flow is now more my style.

I scalp for some points. I day trade all day and night. My stop is ridiculous wide (I always have a stop in the live markets) but it almost never gets hit... but it does. I believe if theres movement and liquidity it can be traded...

NO ONE SHOULD TRADE LIKE THIS. (But after years of refinement this is just how I trade.)

Not sure how to report gains/losses. I guess Ill report my gains and losses in points as thats the only real measure of a profitable sytem as far as im concerned. I am a retail trader and always will be so of course Im not as obsessed with risk adjusted returns as managed money. I do of course take great care to manage risk.

This is as much for me for ACCOUNTABILITY as it is to share as Ive been blessed with many great teachers hopefully someone can find something of value here.

Ive found after a certain point you just need to hunker down and trade.

Well here it is... lets go!

End of day update...

Cant post pictures yet but will as soon as I have permission. 14 trades on the micro emini. 8.8 points after commissions and slippage. This is a typical day on sim so very surprised but as they say "one day ain't sh;t!"



Sent using the futures.io mobile app

New to posting to this forum so finally have permission to add screenshots. As you can see one will flow into the other as the day progresses. Would rather post realtime. Im sure ill figure it out. Have a great evening!

Sent using the futures.io mobile app

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  #4 (permalink)
Langley
 
Experience: Intermediate
Platform: IB
Trading: Futures
 
Posts: 61 since Mar 2020
Thanks: 15 given, 28 received

Again here are the charts from the above day.

Sent using the futures.io mobile app

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  #5 (permalink)
Langley
 
Experience: Intermediate
Platform: IB
Trading: Futures
 
Posts: 61 since Mar 2020
Thanks: 15 given, 28 received


Sandpaddict View Post
So just before start of second day. I have traded overnight as I usually do despite usually lesser results but thats what I do.

I ended yesterday with a gain of 8.8 emini points. Today I am starting down 20 points! For a start of minus 14.2 points.

Looking at my after hours charts. I made 3 discretionary interjections 2 of them cost me alot! Each of the 2 times cost me 2X maximum risk! That is ok. That is my system. Just not at all that impressed with myself.

Todays a new day and Ill climb out. No panic. Ill update as day goes on.

Here we go!

Post charts as soon as they will let me.

Early day update...

Heres something I noticed right away going live, but is seems to be increasing in intensity im me as time progresses.

It's the drive to DO SOMETHING!...
Take that small gain...
Cut that loss, itll go all the way to stop...
Its turning! Reverse position!

Of course these are usually exactly the wrong things to do as YOUVE DECIDED BEFORE HAND this was a good trade win lose or draw. Then you manage it. Or at least I do... but...

In 24 hrs of being live Ive messed with my system more than I would in a week on sim.

You are ONLY ever smarter than the market when your NOT IN the market!

I try not to ever mess with my winning trades, only manage losers. Going live makes me want to do the opposite because it feels more comfortable to get out of the uncomfortableness... DONT!

That uncomfortableness is just insecurity about your system. Just trade it and get consistent.

Remember what Jesse Livermore said... (paraphrasing) it was never the doing that made me money, it was the sitting on my hands.

Mid-day update...

After my post earlier my intraday losses exceeded 30 points! This is on the outside of the bell curve but not an outlier.

I could make excuses but I interfered when I shouldnt have and then I took some big hits as I was shy to interfere again when maybe I should have. All part of the process. At this moment im still down 5.6 points but above where I started this morning yet shy of the start yesterday. Update at end of day.

End of day update.

Ended with a profit of 5.8 after an intraday drawdown of over 30 points!

ALL my posts are AFTER commissions and slippage.

First day profits: 8.8 points
Second day profits: 5.8 points

Not sure why I cant post screenshots of my charts. I see others posting? Will figure out.

Reposting so pictures match day above.

Sent using the futures.io mobile app

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  #6 (permalink)
Detroit MI/USA
 
Experience: Advanced
Platform: Multicharts, Custom own
Trading: All Futures
 
Posts: 41 since Sep 2017
Thanks: 16 given, 77 received

Itís difficult to see what type of system or methodology you might be using, but whatever it is, I would strongly suggest you never trade any contracts but the micros. In anything larger you will be wiped out within a very short time. You are gambling unfortunately, not trading. There are a lot of resources on FIO to hone your techniques and ways of trading but I donít think the time you have spent on the sim has done you any favours. Sorry to be so direct, but you need a serious wake up call.

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  #7 (permalink)
Langley
 
Experience: Intermediate
Platform: IB
Trading: Futures
 
Posts: 61 since Mar 2020
Thanks: 15 given, 28 received


TraderDoc007 View Post
Itís difficult to see what type of system or methodology you might be using, but whatever it is, I would strongly suggest you never trade any contracts but the micros. In anything larger you will be wiped out within a very short time. You are gambling unfortunately, not trading. There are a lot of resources on FIO to hone your techniques and ways of trading but I donít think the time you have spent on the sim has done you any favours. Sorry to be so direct, but you need a serious wake up call.

Hello TraderDoc007.

Thank you for your response and your directness.

You are absolutely right. I DON'T have a "system" or a "strategy". But yes I do have a process, a method and a methodology. I use heuristics alot and I don't think anyone should trade like this and said so in my orginal post...

---------------
"NO ONE SHOULD TRADE LIKE THIS. (But after years of refinement this is just how I trade.)"
‐-------------

And that was absolutely true. I was in no way being facetious. No one SHOULD trade like this. And I mean that.

Also in my first post...

--------------
"Ive come to an amazing conclusion...

For ME to be profitable...

I CANNOT TRADE LIKE ANYONE ELSE!

And you know what... it DOESN'T MATTER as long as YOUR PROFITABLE!

If your strategy only wins %10 but your winners are so large your strategy is profitable is just as good as if your your percentage is high but when you lose you give most of your profits back but the strategy is still profitable."
------------------

So seeing as you didn't even read my post I would appreciate you refrain from jumping to conclusions. (Pure gambling?)

The data will play out. And yes, I probably will not make it this time, but maybe I will. If not this time maybe next time. I'm learning everday. And yes I am trading the micro eminis only.

I agree that it looks like a mess... and it is but thats the point. I want to see where I enter and exit and what I was thinking. And to be held accountable by forcing myself to post online for all here to see.

I hate STUPID mistakes. Thats what has ALWAYS taken me out (for that round at least).

Now I attempt to NOT take ANY outsized losses and couple it with TAKING profits. I know, crazy idea right?

Also I am OBSESSED with exits! Not entries. (This is a huge pitfall for me still) So as embarrassed as I am posting my mistakes and some ridiculous entries Im trying to admit my mistakes and the feelings that drive me to them such as "the longer I go live the more I feel the need to take small profits and let losers ride in the hope they'll come back." This is as novice as it gets but there it is... I wrote it. Damn it, fix it!

But again thank you for your response.

It's people being honest and real here that is what makes this forum the best in its class. (Thanks Big Mike) Thats why Im trying to be transparent as well.

Well gotta post my charts...

Good trading to you.



Sent using the futures.io mobile app

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  #8 (permalink)
Langley
 
Experience: Intermediate
Platform: IB
Trading: Futures
 
Posts: 61 since Mar 2020
Thanks: 15 given, 28 received

Day three...

I started down in the morning OVER 30 POINTS because of after hours trading. Not that thats the issue. The issue is I again think I know where the market is going after in a trade.

Cut short, loss, watch it turn, enter opposite, cut short, loss... repeat.

I did dig myself out pretty good with 20 points plus during the day but because of overnight trading overall loss.

I did not have time to annotate realtime but added arrows after the fact to highlight where trades are. Colored arrows are placed by broker.

These include overnight trades...

38 trades

-8.9 points profit
-7.1 points commission
-16 points profit for the day.

Too bad cause this was my day...






After crunching the numbers from my trading records I am going to post 24hrs worth of records as I often trade after hours and I need to account for that.

So adjustments have been made. These are correct numbers and this is how I think I will post them.

Here are first three days after going live.

Day 1

15 trades

8.7 points profit
-2.9 points commission

5.8 points profit for the day.

Day 2

36 trades

5.7 points profit
-6.8 points commission

-1.1 points profit for the day.

Day 3

38 trades

-8.9 points profit
-7.1 points commission
-16 points profit for the day.

Three days total...

89 trades:

5.5 points profit

-16.8 points commission

-11.3 points profit for the first three days

Although I made many mistakes, my trading days were completely within reason. After RTH on the other hand, they were not.

I do not like spending my end of day with a pitiful profit or loss because I spent the day digging myself out from the night before.

Although I am %100 discretionary I have rules and I find it easier to break those rules after RTH for some reason since going live. Might be pushing it.

I have to fix or stop trading in the evening. Maybe switch to sim in evening.

Sent using the futures.io mobile app

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Last edited by Sandpaddict; May 23rd, 2020 at 11:00 PM.
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  #9 (permalink)
Langley
 
Experience: Intermediate
Platform: IB
Trading: Futures
 
Posts: 61 since Mar 2020
Thanks: 15 given, 28 received

Day 4 Sunday evening.

Going to try to post charts as we go whenever I can so here are my first few trades so far today...

Sent using the futures.io mobile app

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Last edited by Sandpaddict; May 24th, 2020 at 10:57 PM.
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  #10 (permalink)
Langley
 
Experience: Intermediate
Platform: IB
Trading: Futures
 
Posts: 61 since Mar 2020
Thanks: 15 given, 28 received


In the past this would get me everytime... Id exit with a small profit or a small or big loss, re-enter small loss, small win, big loss ect. And thats just bad math. It might come back and hit my stop but thats fine because thats part of the plan.

Sent using the futures.io mobile app

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