Trading - futures io
futures io



Trading


Discussion in Trading Journals

Updated
      Top Posters
    1. looks_one aquarian1 with 952 posts (312 thanks)
    2. looks_two dario1 with 6 posts (2 thanks)
    3. looks_3 Big Mike with 4 posts (1 thanks)
    4. looks_4 xplorer with 4 posts (1 thanks)
      Best Posters
    1. looks_one Pariah Carey with 5 thanks per post
    2. looks_two Hanneke with 1.5 thanks per post
    3. looks_3 Ddawg with 1 thanks per post
    4. looks_4 aquarian1 with 0.3 thanks per post
    1. trending_up 134,211 views
    2. thumb_up 357 thanks given
    3. group 56 followers
    1. forum 997 posts
    2. attach_file 456 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 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
 

Trading

(login for full post details)
  #811 (permalink)
Hanneke
IJsselstein-Utrecht - The Netherlands
 
 
Posts: 122 since Feb 2017
Thanks: 95 given, 419 received


aquarian1 View Post
However, changing our focus to the trader we wish to (that we will) become, our future self, is key to moving from our present self.


My trading mentor Chris Boon once talked about commitment...... how do you know if your are 100% commited to become a succesfull trader and did an exercise with us:
Imagine how you look, what you do, how you live looks likes, how your days are filled, etc when have achieved you goal.
Then focus on you behavior, your beliefs, your actions and how you are doing things.
If you are doing all those things now..... you are not 100% commited.

It was a confronting exercise for me then and still is because I am really working hard to achieve my goal. After sitbacks, I stand up again, reflect, change things and work on myself realizing that I am responsible for the results in my live.

My last sitback was 1,5 week ago.... on one day I took 60 trades, trades from 8 in the morning until 9 in the evening ( ). My normal trading hours are only the morning session and I only place between 3-6 trades. So I was totally out of control and wasn't able to stop myself.
After that event I knew that I really need to change something. I only didn't know what.
One thing I did know though: I don't need to change my system, I need to change.

And through a post of an other traders here on future.io I started to go through the DVD series of Mark Douglas and he really tried to brainwash my mind to addopt serveral new beliefs. I wrote them down like a traders oath which I am going to keep repeating to myself before I start trading.
I am going to do the exercise he suggested as well.
It really feels that It will going to make a huge difference.
Time will tell and I am the only one whi can make it happen



Sent from my iPhone using futures.io

Reply With Quote
The following 3 users say Thank You to Hanneke for this post:

Can you help answer these questions
from other members on futures io?
Brad Cowan
Trading Reviews and Vendors
Coding first profitable weekly open
Elite EasyLanguage Algorithmic Trading
Anchored VWAP on different timeframes
Platforms and Indicators
Unable to choose strategy from chart - NT8
The Elite Circle
Store value in variable when emas crossover easy language
EasyLanguage Programming
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Spoo-nalysis ES e-mini futures S&P 500
61 thanks
Why dont people trade 150 ES contracts?
38 thanks
Any long term success stories from funded traders in the …
26 thanks
How to work on strategy
26 thanks
How to avoid wiping out the accounts?
18 thanks
 
(login for full post details)
  #812 (permalink)
 aquarian1 
Point Roberts, WA, USA
 
Experience: Advanced
Platform: IB and free NT
Broker: IB
Trading: ES
 
aquarian1's Avatar
 
Posts: 4,035 since Dec 2010
Thanks: 1,507 given, 2,591 received


Hanneke View Post
Imagine how you look, what you do, how you live looks likes, how your days are filled, etc when have achieved you goal.
Then focus on you behavior, your beliefs, your actions and how you are doing things.


Seems to be a good exercise though not so easy to do.

..........
peace, love and joy to you
.........
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #813 (permalink)
 aquarian1 
Point Roberts, WA, USA
 
Experience: Advanced
Platform: IB and free NT
Broker: IB
Trading: ES
 
aquarian1's Avatar
 
Posts: 4,035 since Dec 2010
Thanks: 1,507 given, 2,591 received


In watching some of the MD videos I would like to offer an analogy that he could have used to make it clearer. Of course if he made it too clear - he may have worked himself out of 17yrs of couching and book writing and courses , but hey we all need to make a living. :-)
----------

The Wheel of Casino of Love

Once upon a time, in a land far away (France), there was a special casino that was built by a generous philanthropist, a little eccentric, but generous. He was getting older at the time and had untold billions.

In his youth he had met a very beautiful and captivating young woman at an elegant casino in Nice on the French Riviera.

It was a beautiful summer evening and the sparkle of the stars on the Mediterranean Sea were dwarfed my the twinkle of this young maidens enchanting eyes. The graceful curves of the ocean waves were embarrassed by the curves of this young lady's body. He was instantly and totally in love.

The years passed, many things faded, but not the beauty of that magical evening, nor the depth of his love.

Then one day a soft smile of kindness is spread on the old man's countenance and seeing the love in the young couples at the patios and cafes he had an inspiration of how to spread his wealth in a quiet way. He built the Casino of Love.


The Casino of Love


The casino had some very special wheels uniquely designed.

There was no zero, there were only 36 numbers. On this wheel 20 numbers were red and 16 are black. Of course, on any spin the wheel could either be red or black and the players didn't know the sequence of reds and blacks. They did know, however, that the traders (excuse me players) had an edge should they play red - the young maiden's favorite colour.


The Edge Playing Red

20 of 36 times red came up and the players won
16 of 36 times black came up and the players lost

The edge was 55.6%-44.4% and over the course of 900 trades (excuse me bets), risking $250 a spin, the players had an expectancy of $25,000 of winnings (note1). They didn't get excited about a streak of reds let alone a single red, for they knew they would have some blacks or string of blacks, before the night was done.

But they had fun and looked forward to the nice holiday they would have with their $25,000.

When the Casino of Love closed for the night - there was a free lavish dinner, and everyone drank a glass of champagne in a toast to the generous old man and his legacy. There were excited smiles all round and the patrons talked happily about the wonderful things they were going to do with their winnings.

The End.


---------Note 1 --------
500 wins *$250 = $125,000
400 losers *$250 = $100,000
$125,000-100,000=$25,000

..........
peace, love and joy to you
.........
Visit my futures io Trade Journal Started this thread Reply With Quote
The following 2 users say Thank You to aquarian1 for this post:
 
(login for full post details)
  #814 (permalink)
 aquarian1 
Point Roberts, WA, USA
 
Experience: Advanced
Platform: IB and free NT
Broker: IB
Trading: ES
 
aquarian1's Avatar
 
Posts: 4,035 since Dec 2010
Thanks: 1,507 given, 2,591 received

Of course it was a bit tricky to build a wheel with 20 reds and 16 black slots.

Good luck on building your wheel!

..........
peace, love and joy to you
.........
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #815 (permalink)
 aquarian1 
Point Roberts, WA, USA
 
Experience: Advanced
Platform: IB and free NT
Broker: IB
Trading: ES
 
aquarian1's Avatar
 
Posts: 4,035 since Dec 2010
Thanks: 1,507 given, 2,591 received

I watched this this AM

..........
peace, love and joy to you
.........
Visit my futures io Trade Journal Started this thread Reply With Quote
The following user says Thank You to aquarian1 for this post:
 
(login for full post details)
  #816 (permalink)
 Grantx 
Legendary no drama Llama
Reading UK
 
Experience: None
 
Posts: 1,787 since Oct 2016
Thanks: 2,819 given, 5,037 received


aquarian1 View Post
I watched this this AM

Wow. Very interesting. Thanks for posting.

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Grantx for this post:
 
(login for full post details)
  #817 (permalink)
 aquarian1 
Point Roberts, WA, USA
 
Experience: Advanced
Platform: IB and free NT
Broker: IB
Trading: ES
 
aquarian1's Avatar
 
Posts: 4,035 since Dec 2010
Thanks: 1,507 given, 2,591 received


Grantx View Post
Wow. Very interesting. Thanks for posting.

Hi Grant,

I think one of the key parts is how you determine if you have an edge.
He has a spreadsheet and shows the results of each setup. He highlights that you can have a series of loses and how many people who haven't tested their setup would lose confidence and change it.

He mentions you test (forward testing) by doing 100 to 200 trades before starting. So this would be forward testing on a sim. I don't think most would do the work and be patient enough to do this - which was about 1-2 years depending on the setup frequency.

He also mentions combining several things together, (eg. the candle and the support and oversold )

------------
So if a new trader did what he is saying they would:
learn the chart patterns - he lists about 10
select a few setups
trade them on the sim until they had both 200 trades and a positive expectancy
calculate (count the adverse run lengths and MAE) for each setup
compute what their R unit should be on #4 for the amount of capital they have for that setup (note 1)
not start life until they had determined they had a positive expectancy.

This series of steps would mean that a new trader would take about 2 years before being ready to trade live and would have practiced trading without emotion and would have built up confidence over this time in their edge (should they find and prove it to themselves)

Now of course he has a Wealth Academy he is promoting and I doubt he will recommend you take this long (see next video on conflict of interest).

---------

..........
peace, love and joy to you
.........
Visit my futures io Trade Journal Started this thread Reply With Quote
The following user says Thank You to aquarian1 for this post:
 
(login for full post details)
  #818 (permalink)
 aquarian1 
Point Roberts, WA, USA
 
Experience: Advanced
Platform: IB and free NT
Broker: IB
Trading: ES
 
aquarian1's Avatar
 
Posts: 4,035 since Dec 2010
Thanks: 1,507 given, 2,591 received

Edit: I think I must have made this too tight MAE, the $3,600. Perhaps we could say that if you have a W:L ratio of 3:2 In 200 trades 120 winners 80 losers then if you need enough for a cumulative running total of 30 negative and use $3000 MAE you could do $100 trade.

average rng is from 10 April to 28 aug


..........
peace, love and joy to you
.........
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #819 (permalink)
 aquarian1 
Point Roberts, WA, USA
 
Experience: Advanced
Platform: IB and free NT
Broker: IB
Trading: ES
 
aquarian1's Avatar
 
Posts: 4,035 since Dec 2010
Thanks: 1,507 given, 2,591 received

changed numbers above

..........
peace, love and joy to you
.........
Visit my futures io Trade Journal Started this thread Reply With Quote
 
(login for full post details)
  #820 (permalink)
 aquarian1 
Point Roberts, WA, USA
 
Experience: Advanced
Platform: IB and free NT
Broker: IB
Trading: ES
 
aquarian1's Avatar
 
Posts: 4,035 since Dec 2010
Thanks: 1,507 given, 2,591 received


Here are some notes from a youtube.
It is a little bit like blue pill red pill so if you're feeling discouraged I would recommend not watching it.

But it could provide some very important insights for people so here is the link and a couple of notes on it.
----------
Anton Kreil


Anton is from a money mgmt background and was in the TV reality series as the day-to-day overseer of the the novices (Million dollar traders - 3 part series)


Pension system has failed individuals and they can't retire (67K aver in USA 30k pounds in UK)
Why daytraders haven't made any money of the last 8 years (since 2009).

Why "I am a forex daytrader can you help me?" - bad question

industry structured against retail

Confilct of interest (COI) meets desperation ==> bad results

Don't restrict yourself and be able to switch instruments to chase volitility

Fund mgrs:
RIsk adjust rate of return.
Cap their portfolio volility
Return higher than the volitility (eg. 16% return and 10% risk)
capital preservation and growth
realistic expectation and get rich slowly

retail the opposite

how to spot fakes and scammers (educators, social trading, forums, etc. etc)

..........
peace, love and joy to you
.........
Visit my futures io Trade Journal Started this thread Reply With Quote


futures io Trading Community Trading Journals > Trading


Last Updated on January 2, 2021


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), 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