Trader P/L 2009

[brownsfan019 17]

4-9-09

 

 

 

Today is one of those days that either you believe in your system or you don't. If I don't take that last trade, I am down $453 vs. up $265 = $718 swing. While it's easy to say in hindsight to take the 5th trade (that works), when you lose 4 in a row, your confidence gets shaken to say the least. It comes down to whether or not you know your system can w/stand some losses in a row or not.

 

Good lesson for today - myself included - if you believe and know it works, you can't abandon ship if down. Trading is so easy when your 1st or 2nd trade makes money, it's when you are down that the gut check time starts.

[swansjr 10]

4-9-09

 

Good lesson for today - myself included - if you believe and know it works, you can't abandon ship if down. Trading is so easy when your 1st or 2nd trade makes money, it's when you are down that the gut check time starts.

 

Well done! :applaud:

 

That is a weakness for me. After a couple of consecutive losing trades I begin to doubt my skils. I trust my system, but it's me I question. Right now I often just stop for the day and start the next day with a clearer head. This seems to work well for right now as I continue to work on my psychology.

[brownsfan019 17]

The mental part of the game is the hardest part IMO. And while books on the subject help, it only does so much. When you have real $ on the line, it is not easy at times. Today was one of those days where my read was right - get long bonds - but I was too early to the party. Doesn't happen often, but I had to trust my read that it was time to get long bonds one more time and that trade went as planned.

[Mr_black 10]

Trading Price/Volume Relationship

[brownsfan019 17]

Thanks for joining us MrBlack - feel free to join us daily now that you found the thread!

[brownsfan019 17]

Here's an update on the trading posted here:

 

Total (Mar2-Mar6)

$1,312.51

Total (Mar9-Mar13)

$1,053.14

Total (Mar16-Mar20)

$765.64

Total (Mar23-Mar27)

$675.00

Total (Mar30-Apr3)

$1,381.24

Total (Apr6-Apr10)

$1,437.51

 

Grand Total

$6,625.04

 

Up 66.25% on this $10k account. While behind the targeted P/L, not a bad return.

 

So it can be done if you find a trading methodology that works for you and you can follow it. As illustrated on a few days, had I stopped after a few losing trades, I would have given up the opportunity to not only recoup my funds, but come out ahead. Like I said, trading is easy when your first few trades make money and you are using 'house money'. It's when the house has hit you first that the real test comes out. That's when the games are played - do you control your anger/frustration/regret/worry? do you go on tilt or keep that in check? do you revenge trade? do you know your system can bounce back or are you hoping it can bounce back?

 

Thus far we've seen:

1. You can work a small account, IF you have a system that works
   
2. The thread has hopefully given some additional accountability (which was my goal) and has helped others in different ways (as a few have told me via PMs)
   
3. It's so easy to post blotters that any vendor refusing to do so should send up a red flag - ANYONE can talk the talk, create a fancy looking website, etc. - but few that are selling wares (systems, books, e-books, etc.) have anything that actually produces results
   

 

I'll have to play around w/ Excel later and create some cool looking graphics and stuff to track the progress here. If you have any suggestions, let me know.

[wskid 10]

Hey everyone, I've been glimpsing at some of these posts and I find it amazing that you guys share your numbers like that. I plan on posting my numbers here too, but before that I have a question. I'm presently a proprietary trader, just started not too long ago live. I was wondering if it would be better for me to eventually go on my own, since the profit splitting is a killer and desk fees are up the roof in futures. If so, which brokers would have decent fee structures tot trade a $10K account with X Trader from TT.

 

I realize that this may not be the proper forum but it would be cool if someone could answer my questions.

 

Happy trading!

[atto 20]

If so, which brokers would have decent fee structures tot trade a $10K account with X Trader from TT.

I've heard good things about Velocity Futures, which provides X-Trader for free under one of their quite reasonable commission structure plans.

[wskid 10]

Sweet thanks Atto. I dream of having my own trading business, all I have to do is get the capital to start...I'm thinking around 12.5K trading capital (one lots on ES, maybe ZN) and an overhead of about 150-200$ per month for data feeds like e signal. Does that sound reasonable?

[brownsfan019 17]

Hey everyone, I've been glimpsing at some of these posts and I find it amazing that you guys share your numbers like that. I plan on posting my numbers here too, but before that I have a question. I'm presently a proprietary trader, just started not too long ago live. I was wondering if it would be better for me to eventually go on my own, since the profit splitting is a killer and desk fees are up the roof in futures. If so, which brokers would have decent fee structures tot trade a $10K account with X Trader from TT.

 

I realize that this may not be the proper forum but it would be cool if someone could answer my questions.

 

Happy trading!

 

I hope you join us here! It's a small group, but a pretty decent group of traders that are willing to post here.

 

I personally use Open ECry and use their software - charting and platform - and it's very good. Prior to using OEC I was using T4 @ $500/mo (very similar to XTrader) and initially I assumed OEC would have some serious lags, but I was pleasantly surprised. With OEC, you save platform fees ($500/mo for me at the time) and data fees (up to $200/mo) in a very nice platform.

 

Yes, in case anyone missed that, I was easily shelling out $700/mo in platform and data fees prior to my move to OEC.

 

 

 

Sweet thanks Atto. I dream of having my own trading business, all I have to do is get the capital to start...I'm thinking around 12.5K trading capital (one lots on ES, maybe ZN) and an overhead of about 150-200$ per month for data feeds like e signal. Does that sound reasonable?

 

See above reply to get an idea of what fees you could expect, esp if you go w/ XTrader + eSignal.

[86834 10]

in my opinion i think for retail traders infinity futures is the best

[wskid 10]

Thanks brownsfan!!

 

How much do you pay now for your platform etc...? I'd be curious to know. Also, are my capital expectations reasonable to start a modest career in trading? Right now obviously I have size because of my firm capital so I can manage to make decent money but the splits are killers and I know eventually I'd like to be on my own.

[brownsfan019 17]

Thanks brownsfan!!

 

How much do you pay now for your platform etc...? I'd be curious to know. Also, are my capital expectations reasonable to start a modest career in trading? Right now obviously I have size because of my firm capital so I can manage to make decent money but the splits are killers and I know eventually I'd like to be on my own.

 

At OEC there are ZERO platform and data fees. Depending on what you need, you can use their charting and order entry or you can stream their data into other charting platforms if need be. OEC makes their money on the commissions.

[wskid 10]

Are they competitive on the commish or do they kill you? What's an average round trip? BTW I appreciate your help man, thanks.

[brownsfan019 17]

Are they competitive on the commish or do they kill you? What's an average round trip? BTW I appreciate your help man, thanks.

 

No problem. They are competitive for me, but as w/ most futures brokers, it's all about volume. The more you do, the cheaper per round trip it is.

Edited April 13, 2009 by brownsfan019

[wskid 10]

Fair enough, thanks again for your help. Tomorrow another day in the markets, I'll get to posting some numbers on here as soon as I can.

[atto 20]

Also look into NinjaTrader. It's a wonderful platform, and is very inexpensive. Data is usually free, and NinjaTrader can run off ZenFire data, with is simply amazing. I use it, and have never had serious problems with the charting, order execution, or data. Many brokers offer free Ninja simulations, and commission is extremely competitive on most. AMP Futures as well as Mirius offer the free demo, among others.

[edabreu 10]

Good month so far. Trying to hold out for the bigger trade (runners) still does not mean I will let a winner turn into a loser. If there is money on the table and the trade looks like its going bad, or taking too long at a s&r or the vol suddenly drops off, I take what's on the table and pay the broker $5 bucks, and pocket my cut.

[Mr_black 10]

P/l .....................................

[Frank 10]

A picture is worth a thousand words (fuuuuuccckkkk)

 

hopefully by posting this chart, I will shame myself into next time having the stones to ride out one little bullshit juke.... went LONG because felt market was tipping its hand -- can't explain the exit except that I guess I just wasn't feeling very sure about much given all the crappy churn we have had lately.

 

[edabreu 10]

Lots of choppy action, 6 tick chop, narrow range, slow and low vol.... good day to spend most of it sitting on your hands. Missed the trade of the day and left a lot on the table because of the irratic speed and irregular price flow. Got shaken out, faked out and couldn't get anything to go for more than a couple of points. Managed not to lose money... so it was all still good.

Edited April 13, 2009 by edabreu
added more helpful thoughts about the trades listed.

[brownsfan019 17]

4-13-09

 

:doh:

 

Is how I feel. There was one ZB trade that I missed while asleep at the wheel and as luck would have it, that was the trade of the day. Of course this one couldn't be a loser and let me get back in (like last Thurs). Quick lesson learned - be ready to go on Monday after a long weekend or stay in bed.

 

========

 

Frank - we've all been there. I feel the pain. Hindsight trading is so much fun and so easy to criticize yourself. My only suggestion is keep your head on straight and don't revenge trade on Tues. The market owes you NOTHING for your Monday trades. NOTHING. Don't think for 1 second it does.

[daedalus 10]

Been out of town for the past week without internet access in the boonies of Missouri. I'll be back kicking ass tomorrow!

 

Great job on the posting everyone. Its awesome to see so many new people posting blotters as well!!!!

[HAL9000 10]

Well, I haven't tried to trade the ES for some time.

Last week I started to implement a price versus volume (or vice versa) subplot,

because I thought, I might need it (blue is the color of the running day).

There are still some things to do, as always.

 

But here is, what would have been my setup chart for today, just for fun.

Anyway, my big problem so far is, that I sometimes just don't trade,

what my chart is telling me. :crap:

 

So, just for fun, compare mine to yours, if you trade the ES.

 

 

 

 

P.S.: Had to add my silly signature once more, I hope you like my kind of humor, but its really about different people seeing different things differently ... :helloooo:

[swansjr 10]

Down day today. Followed my rules 100% but the retraces against the trend were too deep and took me out twice in a row.