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TF day trading
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TF day trading

  #171 (permalink)
Elite Member
Honolulu, Hawaii
 
Futures Experience: Intermediate
Platform: NinjaTrader
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bluemele's Avatar
 
Posts: 2,547 since Jun 2010
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+6 ticks per contract

Ok, today was +6 ticks per contract.

All I can do is laugh. No joke. The second I scaled and called it a day the market went into over-drive mode and hit my TARGET! 789.50 was my 50% long term retracement area target and I was in at 777.60!

Ok, how many points did I get out of that run. Well, watch the review vid. COMICAL!!!

Feeling ill or foggy though, so best I stop as I thought I was good, but my head started pounding so I am done for the day early but boy, did I give up on that good long run.

Oh, typically on FOMC days I will not trade. I forgot today, as they tend to range all day. NOT TODAY!

Review

Part 1

Part 2

Part 3

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  #172 (permalink)
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bluemele,

what did you create the video with?

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #173 (permalink)
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ThatManFromTexas View Post
bluemele,

what did you create the video with?

Camtasia, but Hypercam2 (free) works just as well.

Camtasia has an editor though that will splice up the video and make them small enough for Youtube.com After you have about 10 vids on Youtube.com the maximum upload goes up substantially so they will all be in one video from now on and save me some time.

Camtasia also will export into .mp4 which is a great small condensed video and you can upload them like I did yesterday directly like you do an image on the forum. You probably already know this.

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  #174 (permalink)
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bluemele View Post
Camtasia, but Hypercam2 (free) works just as well.

Camtasia has an editor though that will splice up the video and make them small enough for Youtube.com After you have about 10 vids on Youtube.com the maximum upload goes up substantially so they will all be in one video from now on and save me some time.

Camtasia also will export into .mp4 which is a great small condensed video and you can upload them like I did yesterday directly like you do an image on the forum. You probably already know this.

Actually I asked because I don't have a clue. Thanks for the info.

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #175 (permalink)
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Very nice videos

So your method is MTFA which I get but you are doing it a bit different than others as far as I can see. Doesn't matter as long as it works.

I noticed you were on sim for the videos. Was that just for the video or are you still in sim mode at this point? I sure you mentioned if you were somewhere in a previous post but these are the first couple of posts I've read so I am sure I missed it.

Keep up the good work.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #176 (permalink)
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Platform: NinjaTrader
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aztrader9 View Post
So your method is MTFA which I get but you are doing it a bit different than others as far as I can see. Doesn't matter as long as it works.

I noticed you were on sim for the videos. Was that just for the video or are you still in sim mode at this point? I sure you mentioned if you were somewhere in a previous post but these are the first couple of posts I've read so I am sure I missed it.

Keep up the good work.

I started this Method in Aug 2009. After 1 month I was trading 10 contracts. I was quickly -$4000.00

I then went to putting arrows on my chart. I was still not profitable as the dynamic of the market had changed some and I was 'in-flexible'.

I then went live again in Feb 2010. I was profitable for about 2 weeks, then down -5000.00 as the market just kept going up up up and I kept going short short short. I really didn't understand the dynamics of the market.

I then went SIM (DOM) for 3 months. I was negative or break-even and was trading all wrong. I figured it out in May, went live again and spent 3 months losing -2000.00

Since then I have been live until a good friend of mine told me to stay sim until I am 3 points positive average daily for 3 months. No point to move forward until then.

BTW, this was also during the time that I was trading other systems and lost about -85K total playing around along with a failing business (haha). And, that doesn't count my other losses in 08' etc..

Anyways, I didn't treat the DOM like real trading, and when I went back to live trading, I would panic, trade differently and voila, more issues.

I have gone off/on live/sim, but not in the last several weeks (since this Journal as it keeps me honest).

SIM = LIVE to me. I click the exact same way now, treat it exactly the same, no difference to me except it is not making my broker richer (yet) as I am nothing more than break-even really. Well, I am up 3K in 3 weeks of trading, why wouldn't I be live? Well, because others in my group of traders are up 700.00 to 1900.00 per day every day with VERY few exceptions. Until I am pulling away at least 700.00 to 900.00 per day consistently, I will save the live trading.

I believe there are two hurdles to my method:

1. Technical ability
2. Emotional ability

Technical ability wasn't there when I started trading live. Not even close and I believe I am just getting there. I compare where I am at today to where I was just 6 months ago (I have vids) and the difference is substantial. I could scalp and be up 1K, then be down 1K the next day and have a roller coaster ride of emotions along the way. It wasn't serving me much like my current trading isn't serving me.

Emotional ability is as every trader knows VERY important. I believe I had that confidence and courage early on when I should not have. It cost me more damage (honestly losing 100K is nothing in the grand scheme as I have lost a hell of a lot more) starting early to my EGO than anything. Most of us can handle a drained account. But the real damage is the mental aspect of draining an account.

Also, the method I do is not a quick 6 ticks and I am out. I went awry for a few months trading for 1 point --> 1.5 points which was a waste of time. I could be profitable, and consistent if I did that, but man, is that work. This method is to catch 1 or 2 good trades leisurely and be done. Watching some of the fellow traders that trade this system is mesmerizing at the very least and it gives me something to strive for. It isn't the only system, but one I can appreciate.

I will not be live until I get to at least 2 points per day consistently. Seems like a million miles away, but just over a millimeter. I know some people look at sim as FAKE and it is if you feel that way (which most people do until they decide differently). We all have enough money to spend a lot of time taking losses, but to me the biggest loss is of consistency.

Thanks for asking the question and I wanted to be clear that my sim trading = live trading in my eyes. I never take a trade that doesn't affect me.

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  #177 (permalink)
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bluemele View Post
I started this Method in Aug 2009. After 1 month I was trading 10 contracts. I was quickly -$4000.00

I then went to putting arrows on my chart. I was still not profitable as the dynamic of the market had changed some and I was 'in-flexible'.

I then went live again in Feb 2010. I was profitable for about 2 weeks, then down -5000.00 as the market just kept going up up up and I kept going short short short. I really didn't understand the dynamics of the market.

I then went SIM (DOM) for 3 months. I was negative or break-even and was trading all wrong. I figured it out in May, went live again and spent 3 months losing -2000.00

Since then I have been live until a good friend of mine told me to stay sim until I am 3 points positive average daily for 3 months. No point to move forward until then.

BTW, this was also during the time that I was trading other systems and lost about -85K total playing around along with a failing business (haha). And, that doesn't count my other losses in 08' etc..

Anyways, I didn't treat the DOM like real trading, and when I went back to live trading, I would panic, trade differently and voila, more issues.

I have gone off/on live/sim, but not in the last several weeks (since this Journal as it keeps me honest).

SIM = LIVE to me. I click the exact same way now, treat it exactly the same, no difference to me except it is not making my broker richer (yet) as I am nothing more than break-even really. Well, I am up 3K in 3 weeks of trading, why wouldn't I be live? Well, because others in my group of traders are up 700.00 to 1900.00 per day every day with VERY few exceptions. Until I am pulling away at least 700.00 to 900.00 per day consistently, I will save the live trading.

I believe there are two hurdles to my method:

1. Technical ability
2. Emotional ability

Technical ability wasn't there when I started trading live. Not even close and I believe I am just getting there. I compare where I am at today to where I was just 6 months ago (I have vids) and the difference is substantial. I could scalp and be up 1K, then be down 1K the next day and have a roller coaster ride of emotions along the way. It wasn't serving me much like my current trading isn't serving me.

Emotional ability is as every trader knows VERY important. I believe I had that confidence and courage early on when I should not have. It cost me more damage (honestly losing 100K is nothing in the grand scheme as I have lost a hell of a lot more) starting early to my EGO than anything. Most of us can handle a drained account. But the real damage is the mental aspect of draining an account.

Also, the method I do is not a quick 6 ticks and I am out. I went awry for a few months trading for 1 point --> 1.5 points which was a waste of time. I could be profitable, and consistent if I did that, but man, is that work. This method is to catch 1 or 2 good trades leisurely and be done. Watching some of the fellow traders that trade this system is mesmerizing at the very least and it gives me something to strive for. It isn't the only system, but one I can appreciate.

I will not be live until I get to at least 2 points per day consistently. Seems like a million miles away, but just over a millimeter. I know some people look at sim as FAKE and it is if you feel that way (which most people do until they decide differently). We all have enough money to spend a lot of time taking losses, but to me the biggest loss is of consistency.

Thanks for asking the question and I wanted to be clear that my sim trading = live trading in my eyes. I never take a trade that doesn't affect me.

Thanks for the detailed answer. I suspected as much since it sounds very much like my own story. I gather from some of your posts you were/are in the real estate business and I suspect you were/are a loan originator. If so, I feel your pain from '08 as that is where mine was as well. I am still recovering. And losing 100K in a month is nothing. It is possible to lose that and MUCH more almost overnight. Mine was in the many multiples of that. I shudder looking back on it but it was easy come, easy go.....I, like many others, did not respect how easy that money came. Its a totally different story today.

Here is to a brighter future.....and by the way, San Diego is my favorite city in the world and I've been to a bunch of the best ones. Perfect year around weather, close enough but yet still far enough away from LA, easy to get around in and tons to do.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #178 (permalink)
Elite Member
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Platform: NinjaTrader
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aztrader9 View Post
Thanks for the detailed answer. I suspected as much since it sounds very much like my own story. I gather from some of your posts you were/are in the real estate business and I suspect you were/are a loan originator. If so, I feel your pain from '08 as that is where mine was as well. I am still recovering. And losing 100K in a month is nothing. It is possible to lose that and MUCH more almost overnight. Mine was in the many multiples of that. I shudder looking back on it but it was easy come, easy go.....I, like many others, did not respect how easy that money came. Its a totally different story today.

Here is to a brighter future.....and by the way, San Diego is my favorite city in the world and I've been to a bunch of the best ones. Perfect year around weather, close enough but yet still far enough away from LA, easy to get around in and tons to do.

Well, I actually have lived in Honolulu for the last many many years, but San Diego is a close #2. I will raise my kids here so that is why I am here testing the area out. I have to head back to Honolulu to finish out a project or two and get my reserves back up. I am not a loan originator but a residential/commercial developer in Hawaii as well as investor in many properties elsewhere. It has been a grueling few years to say the least, but easy come, easy go.

I would have laughed at making a couple K's a day a few years ago, and said, why would I spend so many years studying to do something like that. Now, I am happy to just be growing.

I read your whole story and it definitely sunk in with me too. I used to live in Ahwatukee (sp?) for a year, but I prefer being around the ocean. I live in Coronado, CA now which is my favorite little city (next to a big city) in the country.

Again, thanks for posting. I am learning and growing every day. Before you know it I will be at my 3 points per day and we shall have a cocktail over which instrument is best to trade. haha....

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  #179 (permalink)
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In the heat
 
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bluemele View Post
Well, I actually have lived in Honolulu for the last many many years, but San Diego is a close #2. I will raise my kids here so that is why I am here testing the area out. I have to head back to Honolulu to finish out a project or two and get my reserves back up. I am not a loan originator but a residential/commercial developer in Hawaii as well as investor in many properties elsewhere. It has been a grueling few years to say the least, but easy come, easy go.

I would have laughed at making a couple K's a day a few years ago, and said, why would I spend so many years studying to do something like that. Now, I am happy to just be growing.

I read your whole story and it definitely sunk in with me too. I used to live in Ahwatukee (sp?) for a year, but I prefer being around the ocean. I live in Coronado, CA now which is my favorite little city (next to a big city) in the country.

Again, thanks for posting. I am learning and growing every day. Before you know it I will be at my 3 points per day and we shall have a cocktail over which instrument is best to trade. haha....

Well now that you mention it, Lahaina is another of my favorite places. Golf, slow pace of life, nice view from almost anywhere, what could be better?

I am glad I was an originator! At least I didn't have to unwind millions of dollars of real estate that was dropping like a rock!. Its not funny when its happening but looking back, one must have a sense of humor to get over it. It was bad enough unwinding a couple million dollars worth!

When its all said and done, making 2K a day without all the overhead is a home run anyway you look at it. I'm sure your overhead was much bigger than mine but 80K a month just to break even is crazy for a small operation like I had.

I'll take 2K a day with $100 for my internet connection and some misc fees any day!

And I like red wine (Australia, South Africa, Chile or France). You bring the whiskey and I'll bring the wine!

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
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  #180 (permalink)
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aztrader9 View Post
Well now that you mention it, Lahaina is another of my favorite places. Golf, slow pace of life, nice view from almost anywhere, what could be better?

I am glad I was an originator! At least I didn't have to unwind millions of dollars of real estate that was dropping like a rock!. Its not funny when its happening but looking back, one must have a sense of humor to get over it. It was bad enough unwinding a couple million dollars worth!

When its all said and done, making 2K a day without all the overhead is a home run anyway you look at it. I'm sure your overhead was much bigger than mine but 80K a month just to break even is crazy for a small operation like I had.

I'll take 2K a day with $100 for my internet connection and some misc fees any day!

And I like red wine (Australia, South Africa, Chile or France). You bring the whiskey and I'll bring the wine!

Sounds good. If you ever come out to Honolulu, HI look me up. You are right about the sense of humor.

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