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brownsfan019

Trader P/L 2010

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Did not get a chance to trade on Monday. Today was a good day, I hit my target and called it a day.

 

I have been using a Volume Balance type indicator to let me know when a move is over and it has taken me last week and this week to integrate it into my style. I don't want to have fixed targets, so I am trying to stay with the trade as long as the market is trying to give me something It has helped a lot.

 

Also, last week I switched to tick charts after watching both the 5 min and tick charts. It was not easy because I usually don't change more than one thing at a time to my method, and last week i changed two.

5aa70ffae29bf_NinjaTraderPerformanceReport-1.jpg.18fc3232a8eb4ae20a0714620a5e9532.jpg

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Are you referring to On Balance Volume?

 

No, in MarketDelta it would be the the "Volume Breakdown indicator", and in TT it would be CVD I believe.

 

I wrote it to suit my preferences. If the Volume Breakdown is going my way, I am looser on the stop loss, and when against me I put my stop very close. If it goes against me early in the trade, I just try to scratch the trade.

 

I am still learning how to use it, so it will take a while.

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Back in the trading seat. A nice way to start. 3/3 for the day.

 

Was just mulling over the trades. Had good entries with no impulsive trades. But missed a couple while sitting in the desk - not paying attention. Market backfilling took me out of my second contract on both trades (initial trade with single contract) and then went on to hit the target. Sigh.

 

Entries: B-. Exits: C+ Following Stop Loss Rules: Had the orders in - didnt get filled - so I guess an A.

 

Calling it a day unless a fantastic set up occurs. Glad to be back!

5aa70ffb5900d_4-21-201011-21-49AM.jpg.3d8768be8e5bdeaca8f08cb15b25e5f1.jpg

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Cory is killing it. Cory, look into collective2 to start an account there.

 

Thanks, Dinero. However, about Collective2, maybe someday...I just browsed their site a little bit...looks cool/fun...but right now I have a different plan in mind...

 

I'm going to go live this upcoming week (4/25) with my $100 Oanda account, trading "sub-micro" lots (100 units...$0.01/tick/lot)...so, risking 2% per trade (1R), I'm risking $2 per trade...money I can easily afford to lose, but it's still real trading, rather than sim.

 

As Thales said...

 

Better to trade live and small than fake and large (or fake and small).

 

In addition...I'm discontinuing my daily posts here...

 

I'm finding more and more that it negatively affects my trading...in the past, I've generally tried make a habit of not focusing on daily results because it's counterproductive and they really aren't significant, even relative to weekly results. While I'm trading during the day, I have my end-of-the-day post on my mind and it causes me to cut winners short to lock in some profit to post. I officially trade the morning as well as the evening, but if you've paid close attention you've noticed that I rarely place ANY trades during the evening...and the reason is that I'm often up for the day and I don't want to give it back and post a loss. I feel like I'm in the process of forming bad habits and I want to nip it in the bud.

 

I think sappjason was having a similar problem a little while ago...

 

...on Friday I actually interfered with my automated system and exited a trade manually.... I think (unfortunately) it had to do with my desire to post a profit on this darned thread (and on ET's P/L thread). So, in an effort to continue treating my trading as a viable business, I'm no longer going to be posting my daily P/L.

 

I initially thought that sim trading "publicly" would be an appropriate step between sim trading privately and trading live, but I'm not sure anymore...because the pressure I'm feeling from posting daily results is different and pretty much unrelated to the pressure felt from trading real money...I guess I figured pressure is pressure, but now I feel like I might just be adding an unnecessary hurdle before me on my path to success.

 

That's how I feel, anyway...other people may be affected differently...different strokes for different folks.

 

I'm going to sim trade the last couple days of this week privately to make sure I'm 100% in the "flow" before I go live next week.

 

What I might do is eventually post weekly results. I don't think that would have nearly the same effect.

 

-Cory

Edited by Cory2679
typos

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side note on collective2

 

I have been thinking hard about it and I think that it does not work if you are really trading. I concluded this by rushing trying to get my orders into their not so user friendly system while trying to manage a REAL trade. If you are anything like me you need to FOCUS on managing your trades and preserving capital. There is no time for distractions. Maybe when you become a zen market wizard you can multi-task while managing your positions, but until you reach nirvana - concentrate on making money by actually trading.

 

As always, just my 2¢

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Cory - quick question. You have been profitable 7/8 days over the past couple weeks. As someone who had followed your posts from before - this seemed like a relatively good streak.

 

On reviewing the trades - Is it you are finding you exited positions too quickly? I was just wonder if the flip side to that thought process is that you minded your stops better due to knowing that you were going to post in here - thus you were + 7/8 days?

 

Just a thought. As you said - different strokes for different folks. I am hardly a consistent poster in here - but always enjoy the company in the thread.

 

Continued success...

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side note on collective2

 

I have been thinking hard about it and I think that it does not work if you are really trading. I concluded this by rushing trying to get my orders into their not so user friendly system while trying to manage a REAL trade. If you are anything like me you need to FOCUS on managing your trades and preserving capital. There is no time for distractions. Maybe when you become a zen market wizard you can multi-task while managing your positions, but until you reach nirvana - concentrate on making money by actually trading.

 

As always, just my 2¢

 

Ninja lets you execute trades through the dom and routes them to C2 but they say in the literature that their is a possibility of the trade not being sent so you would then need to login on the website and close out the trade, so a winning trade on your end could be a loser for any customers. The site was also hacked a while back.

 

I said a little bit back I was considering C2 but have since decided against it. My reasons are mostly other than what I mentioned above.

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Ninja lets you execute trades through the dom and routes them to C2 but they say in the literature that their is a possibility of the trade not being sent so you would then need to login on the website and close out the trade, so a winning trade on your end could be a loser for any customers. The site was also hacked a while back.

 

I said a little bit back I was considering C2 but have since decided against it. My reasons are mostly other than what I mentioned above.

 

I don't use ninja and never will so that leaves me with the 1989 order entry platform that collective2 provides (complete with delayed quotes). Not going to work!

 

But, I'll be honest...if I blow my account out again I will definitely be using their service to get my mojo back! ;)

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On reviewing the trades - Is it you are finding you exited positions too quickly?

 

Yes.

 

I was just wonder if the flip side to that thought process is that you minded your stops better due to knowing that you were going to post in here - thus you were + 7/8 days?

 

I certainly see what you're saying, but I don't think so...I've pretty much either gotten break even or taken full losses (if not reversing)...no "ripcords"...so it's pretty straightfoward stops/management...I've been doing it like that for about a month while sim trading privately...also, I pretty much dropped profit targets and trailed stops based on "natural stops" on the chart, which allowed me to make several R on single trades...however, that's where I got messed up when I began posting on here...I would set overly conservative profit targets, pull the trade early, or trail too tight.

 

I've been doing all right...I'm pleased...but I did better before I began posting and cutting my winners short (I've been doing a lot better since I made that "Best. Week. Ever." post on my log. :)).

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however, that's where I got messed up when I began posting on here...I would set overly conservative profit targets, pull the trade early, or trail too tight.

 

Funny because that is the same type of thing people start struggling with going from SIM to live trading. You have to do what makes sense to you at the time. Good luck.

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I don't use ninja and never will so that leaves me with the 1989 order entry platform that collective2 provides (complete with delayed quotes). Not going to work!

 

But, I'll be honest...if I blow my account out again I will definitely be using their service to get my mojo back! ;)

 

Their interface certainly sucks. Seems like some reputable platform should start something similar. it is a great idea but the execution isn't all there. I still plan on making it work because the idea makes too much sense to pass up. Risk free trading income.

 

I have just realized I need probably another year of method work, strategy tweeking, trading in varying kinds of markets, etc. before I should expect to possibly be ready to be a consistent trader. I thought I was about there but I am not. I expected a shorter time horizon for profitability but that has been stressing my trading efforts to much. I thought if I skipped some of the time wasters profitable traders suggested I skip I would cut down the time it took to become profitable by enormous amounts but I think I overestimated this. While people are wasting time on buying systems and searching for the holy grail indicator, they are also getting in screen time and experience that can't be short cutted.

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I was just thinking about Collective2...someone could really screw some people over...

 

Just think...for one's "entertainment," someone who is a great trader could build a reputation and get many subscribers, then intentionally wipe out their accounts.

 

Think no one would ever do that? It's the same idea as people developing computer viruses and spreading them through e-mail, etc.

 

Probably not a good sign that my mind even went there. haha

 

EDIT: I guess what made me think of it was the autotrading capabilities...I as a subscriber wouldn't feel comfortable having some random person out there on the internet essentially trading my account for me (my account being autotraded with their signals)...you never know people...

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I have just realized I need probably another year of method work, strategy tweeking, trading in varying kinds of markets, etc. before I should expect to possibly be ready to be a consistent trader.

 

While it's fine to be realistic, don't sell yourself short. You were consistently profitable on sim week after week...what has really changed?

 

I can't help but be reminded of Thales's post about sim trading found here.

 

That post is partly what has inspired me to go live next week.

 

And don't forget the story of Thales's daughter...1 month "training" and BAM!!!

 

Although, to be fair, she did have the benefit of Thales's "20ish" years of experience on her side. ;)

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Their interface certainly sucks. Seems like some reputable platform should start something similar.

 

I agree about the C2 interface but the NT Dom is extremely reputable and solid. I have executed serious size on es, cl and dax using the NT Dom, the only times I ever had problems was when I was using a computer that had too much garbage on it along with NT and this has only happened I believe 4 times.

 

This year I switched from the license key that is 185$/quarter to the free version and like it more because you do not need to have a pre-determined strat to enter. :2c:

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This year I switched from the license key that is 185$/quarter to the free version and like it more because you do not need to have a pre-determined strat to enter. :2c:

 

You are using the free version of Ninja????

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Ugh - workman like day. Missed the final short of the day due to pickin up a kid at school. Grinding day - tested the market out on a couple trial trades and stopped out for small losses. Got it back - then lost a small amount in the ES on that 15 minute Rally-base-drop from overnight.

Entries: C- A little too much dicking around with "trial" trades. Not truly in the plan. Shouldnt be doing em...Missed a nice trade early in the morning by getting stopped out - just got in TOO early.

Exits: C- : Here is the kicker...had two trades that were 2:1 winners - and had targets just over that. Neither target hit and both retraced into small losses. Was not in front of the computer for one - and the other - well I stubbornly waited for another tick on the ES. Stupid. Stupid. Stupid. Should have been a nice 150 dollar day...instead it is a -60 day.

(I know - small potatoes...I still am trading small...funny thing is - I think nothing of spending 60 dollars on some good wine or a nice steak dinner - and it KILLS me when I lose it on trading. Something in my psyche that I need to examine about that.)

Stops: B+ I followed em. Why I didnt have a worse day.

PreMarket Prep: F. Didnt get in front of the screens till 830. Kid duty today.

5aa70ffb98fd2_4-22-20103-02-13PM.jpg.8d502f73a08d69ff18cb9922f9268e69.jpg

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Hi there pnl posters,

 

We're going to be running a little race here at TL, starting Tuesday morning, 4/27/2010, and running for an initial 20 week period. The race was prompted by this thread by sicktrader -

 

http://www.traderslaboratory.com/forums/f18/lets-trade-volume-v-7794.html

 

Brownie, I know a number of folks have posted out loud that they'd like to see you participate. I hope you do, as well as a number of other pnl folks such as bathrobe, and dinero if he's ready to go live again.

 

You can read the proposed ground rules in this post:

 

I propose the following Ground Rules for The Race.

 

Right now it is just me and sick, but I think the more traders the more fun, so I hope to shake a few more Racers out of the stands and into their cockpits.

 

I'll be starting a separate thread on Monday evening where the Race will be played out.

 

Best Wishes,

 

Thales

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Brownie, I know a number of folks have posted out loud that they'd like to see you participate. I hope you do, as well as a number of other pnl folks such as bathrobe, and dinero if he's ready to go live again.

 

Right now it is just me and sick, but I think the more traders the more fun, so I hope to shake a few more Racers out of the stands and into their cockpits.

 

I'm not worthy to be even noted in the same post as Brownie and Bathrobe. Still have to SIM to work some things about. I dream of the day when I can join in. I think some great discussions will come from the competition if everyone can avoid talking about whether someone's account is real or not, etc.

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