Trader P/L 2009

[brownsfan019 17]

12-3-09 Revised: +$457.49

 

I normally don't do this but I wasn't thrilled with my earlier performance. Saw a nice short forming on the CL and took it. I didn't feel like waiting around for it as I was about to go my workout so I just put my exits out there via OCO and came back to see this. Nice when it works like that.

 

Note - this was taken on a separate computer so the CL combined profit was $899.99. I'm beginning to think of becoming an oil exclusive trader... for the time being at least. We'll see but I am giving serious consideration to just focusing on oil and perhaps bumping the contracts up.

[Dinerotrader 10]

SIM

The day started alright. I was up $300 on Oil. There were 2 large oil moves today that I got a piece of but I was frustrated that I didn't get more since the retracement was manageable with trailing stop. The frustration motivated some more careless trades on Oil which shouldn't have happened. I tried the QM today and it just didn't feel the same as the CL contract. Not sure exactly why.

 

The ZS worked me. Once price got back into a channel it had established recently, and the whipping began. I should have help off on any trade once it moved to that range.

 

BF, it is interesting how some days the ZS seems easy to trade and some days oil seems easy. There could be numerous reasons for this but I was curious of your thoughts. Do you think you can anticipate to any degree if one or the other will be harder to trade based on where price is at?

 

The late oil short was certainly worth a try even late in the day. Wish I could have been watching it at that time.

 

[brownsfan019 17]

SIM

The day started alright. I was up $300 on Oil. There were 2 large oil moves today that I got a piece of but I was frustrated that I didn't get more since the retracement was manageable with trailing stop. The frustration motivated some more careless trades on Oil which shouldn't have happened. I tried the QM today and it just didn't feel the same as the CL contract. Not sure exactly why.

 

QM's volume is very light so you probably weren't seeing nice, smooth moves as the CL. The DOM and charts can get a little choppy on the QM.

The ZS worked me. Once price got back into a channel it had established recently, and the whipping began. I should have help off on any trade once it moved to that range.

 

BF, it is interesting how some days the ZS seems easy to trade and some days oil seems easy. There could be numerous reasons for this but I was curious of your thoughts. Do you think you can anticipate to any degree if one or the other will be harder to trade based on where price is at?

 

 

I wish I knew when to load the boat on the easy days and sleep in on the not-so easy days. I just take them all in stride and if it works as planned, I come out ahead in the end. You could open an entire new thread and discussion on gauging when to expect big intraday moves. If you find something, let me know.

[bathrobe 10]

 

BTW, what app is it, and on which phone?

 

 

The program is Strategy Runner and it is an iPhone

[brownsfan019 17]

12-3-09 Revised (again): +$3017.49

 

Alright, this was about as bizarre of a day for me as there has ever been. It started with my scratch performance in the AM. I wasn't too happy to see that occur. So then the pre-workout trade took place. Then I was at the computer and got a few more setups in the PM. I'm typically not even near my computer at that time, but it was there for the taking.

 

Trades were taken over 3 different computers, hence the 3 screenshots.

 

Feels weird that my best day since posting on this thread was my most bizarre one. Pretty sure this was the best p/l I've turned out for this thread.

[Dinerotrader 10]

12-3-09 Revised (again): +$3017.49

 

Alright, this was about as bizarre of a day for me as there has ever been. It started with my scratch performance in the AM. I wasn't too happy to see that occur. So then the pre-workout trade took place. Then I was at the computer and got a few more setups in the PM. I'm typically not even near my computer at that time, but it was there for the taking.

 

Trades were taken over 3 different computers, hence the 3 screenshots.

 

Feels weird that my best day since posting on this thread was my most bizarre one. Pretty sure this was the best p/l I've turned out for this thread.

 

 

You might need to start putting in longer days with those numbers. Nice work.

[brownsfan019 17]

You might need to start putting in longer days with those numbers. Nice work.

 

The thought crossed my mind - maybe trade the RLM the last 2 hours or so. We'll see. I also don't care to work a lot either.

[Tonkadad 10]

What is the RLM?

 

From what I have seen of oil (IMO) it trends better than the TF. Perhaps more consistently is a better description.

[Dinerotrader 10]

Holy Freaking Oil trades. Today was and probably will continue to be a great day to trade oil. I am really busy at work so I can't keep trading it. I should have had a record day but I am still struggling with trailing my stops too close on the big oil moves.

 

Check out how much of the move I missed on this one. I arrowed my entry and exit. All the move between the circles was lost for me. About 120 ticks lost on a trail that was 5 ticks too close. I did better later on and kept my stop at breakeven though I was up 20 ticks and got stopped out at breakeven. The 3rd move I was in, I thought a 15 tick trail would be reasonable and once again I got stopped out only to miss out on more of the move. I am still working on this.

 

I will be shocked if Brownsfan's P/L isn't amazing today. So far 3 oil moves, each giving a possible 100 ticks each. What a day. I couldn't even watch the ZS I was so focused on oil.

 

 

SIM

+$380

Edited December 4, 2009 by Dinerotrader

[brownsfan019 17]

What is the RLM?

 

From what I have seen of oil (IMO) it trends better than the TF. Perhaps more consistently is a better description.

 

RLM = what OEC calls the Russell e-mini. Not sure why, but that's what they use.

[brownsfan019 17]

Holy Freaking Oil trades. Today was and probably will continue to be a great day to trade oil. I am really busy at work so I can't keep trading it. I should have had a record day but I am still struggling with trailing my stops too close on the big oil moves.

 

I struggle w/ the same thing Dinero - my p/l was alright today, but could have been more. Trailing stops is a fickle animal and here's why - days like today, you want to trail your stop liberally and make a killing. Other days, you will take +3 and +5 all day long.

 

IMO you just have to decide what YOU are comfortable with. Your options:

 

1) Take reliable, predictable bunches of profits in increments. Make money most days.

2) Go for the home run and make killings some days, breakevens on other days.

There is no right answer - it's entirely up to what you want to accomplish. I take a #1 view even though I try my hardest to bring a little of #2 over when appropriate.

 

Check out how much of the move I missed on this one. I arrowed my entry and exit. All the move between the circles was lost for me. About 120 ticks lost on a trail that was 5 ticks too close. I did better later on and kept my stop at breakeven though I was up 20 ticks and got stopped out at breakeven. The 3rd move I was in, I thought a 15 tick trail would be reasonable and once again I got stopped out only to miss out on more of the move. I am still working on this.

 

Same as above -- those trails are not easy ESPECIALLY on oil. It has too many quick moves up or down to grab some stops and then continue. If you want to trail on oil, you need to give it a large cushion. Of course that opens yourself up to 'giving away' large chunks of profits when price does reverse on you.

 

I couldn't even watch the ZS I was so focused on oil.

That's ok too. You might find that 3 markets is too much in real-time. As I mentioned yesterday, oil is becoming more and more attractive to me. To the point of ONLY trading oil. Food for thought.

[brownsfan019 17]

12-4-09: +$740.00

 

Just oil baby.

[brownsfan019 17]

Found a couple oil icons that I thought were funny. Feel free to use if you enjoy oil as much as Dinero & I! Think I might be needing to change my avator here... :rofl:

 

 

[Dinerotrader 10]

Found a couple oil icons that I thought were funny. Feel free to use if you enjoy oil as much as Dinero & I! Think I might be needing to change my avator here... :rofl:

 

 

 

 

I like the top one best.

 

I guess my current avatar could pass as something oil related. My avatar is actually my logo I designed for my photography business.

[Dinerotrader 10]

I struggle w/ the same thing Dinero - my p/l was alright today, but could have been more. Trailing stops is a fickle animal and here's why - days like today, you want to trail your stop liberally and make a killing. Other days, you will take +3 and +5 all day long.

 

IMO you just have to decide what YOU are comfortable with. Your options:

 

1) Take reliable, predictable bunches of profits in increments. Make money most days.

2) Go for the home run and make killings some days, breakevens on other days.

There is no right answer - it's entirely up to what you want to accomplish. I take a #1 view even though I try my hardest to bring a little of #2 over when appropriate.

 

The more I look at Oil charts and contemplate your ideas above the more I think I really need a rule system to decide when I will trail my profit or when I will leave my stop alone to wait for the 150-300 tick move.

 

Today, I remember getting into 2 of the positions based on a longer term S/R consideration and I thought, this could be a huge move. Both ended up being huges but I have a habit right now of trailing so I didn't consider just letting it ride without trailing it. There are however many trades to be taken which are not based on such good S/R levels so those I would take what I can get and probably trail 10-15 ticks behind or at each natural stop point. If price is at a range extreme (from a larger scale chart) and looking to reverse, that seems like a point at which you don't trail and see if you can make that homerun. What is the worst that can happen, you take a ~breakeven trade.

 

Thales demonstrated this on a USDCAD trade recently in his thread and it made sense to me. You probably saw his post about this trade.

 

Of course even with a home run trade you have to decide when to pull the trigger and take your boat load of money out of the unrealized column.

[brownsfan019 17]

12-4-09 Revised to include PM ES trade: +$2615.00

 

Yep, that's not a typo. Got a nice setup on the ES and off we went. Afternoon trading has been pleasant to me the last couple days. Have a good weekend all!

[jack411 10]

Holy Freaking Oil trades. Today was and probably will continue to be a great day to trade oil. I am really busy at work so I can't keep trading it. I should have had a record day but I am still struggling with trailing my stops too close on the big oil moves.

 

Check out how much of the move I missed on this one. I arrowed my entry and exit. All the move between the circles was lost for me. About 120 ticks lost on a trail that was 5 ticks too close. I did better later on and kept my stop at breakeven though I was up 20 ticks and got stopped out at breakeven. The 3rd move I was in, I thought a 15 tick trail would be reasonable and once again I got stopped out only to miss out on more of the move. I am still working on this.

 

I will be shocked if Brownsfan's P/L isn't amazing today. So far 3 oil moves, each giving a possible 100 ticks each. What a day. I couldn't even watch the ZS I was so focused on oil.

 

 

SIM

+$380

 

 

Hey Dinero,

 

What tick chart is that?

[Dinerotrader 10]

Hey Dinero,

 

What tick chart is that?

 

It is a 100 tick chart.

[bathrobe 10]

12-4-09 Revised to include PM ES trade: +$2615.00

 

Yep, that's not a typo. Got a nice setup on the ES and off we went. Afternoon trading has been pleasant to me the last couple days. Have a good weekend all!

 

 

Brownie took on the bots and brownie won.

[bathrobe 10]

One of my resolutions in 2010 is to watch more markets. I am getting an audio alert to help with this.

 

The other markets will trade at a fraction of what I trade in the es save for the DAX and FESX

 

Trading resolutions must be kept if you want to continue to improve as a trader. If not kept or kept part time I would believe they could be a disaster.

[edabreu 10]

Used 30/60m chart for a MB CT trade on CL and got the ES for some good points on the breakout to the upside.

[bathrobe 10]

In case you wondered what 10 trillion looked like.

 

 

[littlefish 10]

In case you wondered what 10 trillion looked like.

 

Here's a piece of history for you. 5 tril of these would have been quite sizable when they were printed.

[Tonkadad 10]

What month are the oil traders using? Jan? Feb? When do you switch over approx.

 

thanks,

 

Bruce

[brownsfan019 17]

What month are the oil traders using? Jan? Feb? When do you switch over approx.

 

thanks,

 

Bruce

 

Just trade the month with the highest volume. If you do that you can't go wrong.