Trader P/L 2010

[thalestrader 14]

I for one subscribe to the philosophy of the late George Lane (father of Stochastic) that you should never give 1 broker more than $5000 at a time. If you are trading 1 or 2 lots 5k is plenty and when you make profits withdraw regularly. If your starting with 15k open 3 separate accounts and only trade 1 at a time.

 

Just my 2¢

 

I think one 5K account is plenty to start. I have a freind who for years has started each month with 8K in his account, He withdraws everything above 8K on the last day of the month. His monthly loss limit is 6K. If he is ever down 6K, he has his broker set up to shut him down until the first of the following month and only after he refunds his account up to 8K.

 

He routinely makes 8-24K each month. And he starts the month trading 3 lots, not a fully levered 16.

 

Best Wishes,

 

Thales

[JEHs 10]

I managed to put together a profitable week...:hmmmm:

[Dinerotrader 10]

SIM

+$750

 

 

 

Good day especially considering the tight ranges of all the swings on oil. I was taking a quick look at GNG and noticed it was setting up to be a great breakdown but by the time I was getting my trade entry setup, it already started breaking so I only got a small piece.

Missed the first 45 minutes of trading today because something was wrong with my platform's futures feed. I'm okay with 15 trades especially on such a choppy day.

[sappjason 10]

I posted this on the wrong thread earlier in the day. Sorry. +$271, but a very choppy, churn day for me.

 

 

Jason

[enochbenjamin 10]

I posted this on the wrong thread earlier in the day. Sorry. +$271, but a very choppy, churn day for me.

 

 

Jason

 

I did as well. How'd that happen? Anyway - +162.50

[Dinerotrader 10]

SIM

+$534

 

 

 

Too many trades today. Got a nice breakdown on my first trade and a nice breakup on my last trade of tha day and many breakeven trades in between. Had to take quite a few breakeven trades on setups that looked reasonable.

So far so good this week.

[sappjason 10]

$+4911. Great day for me today. Woo Hoo!!!!!

 

 

Jason

[enochbenjamin 10]

Slowly getting my groove back. +260

[JBWTrader 10]

Hey Sappjason

Very good trading. That is 22 trades in a row winners with a couple of likely breakevens thrown in that 22 perhaps. Wow that is pretty hot trading...

 

Unless Im reading it wrong mate...if so my apologies !

 

Best

John

 

 

$+4911. Great day for me today. Woo Hoo!!!!!

 

 

Jason

Edited March 2, 2010 by JBWTrader
spelling !

[sappjason 10]

Well, I had 22 trades yesterday, but only 14 of them were profitable. The other 8 were losers as you can see from my blotter. But thanks for the compliment. These types of days are very few and far between for me, but I'll take 'em when I can get 'em.

 

After days like these, I'm always gun-shy on the following day, because many times, the following day sucks. We'll see......

 

Jason

 

Hey Sappjason

Very good trading. That is 22 trades in a row winners with a couple of likely breakevens thrown in that 22 perhaps. Wow that is pretty hot trading...

 

Unless Im reading it wrong mate...if so my apologies !

 

Best

John

[Dinerotrader 10]

SIM

+$212

 

 

 

This morning's oil action was too tight to trade and I made the mistake of getting lured into several trades so I was down before inventory. Got a good piece of the after inventory breakout and then called it a day because my emotions were too drained to make good trading decisions. Charts keep getting behind DOM price which hurt me a couple times. Still too many trades but not totally unacceptable for oil inventory day.

[sappjason 10]

-$4040. Utterly and completely worthless piece of crap for a day. As I mentioned before, whenever I have an unusually stellar day (like yesterday), my system ends up giving back almost all of the gains on the following day. But, mind you, if this happened every single time (which it doesn't), then I would always take the following day off. I just HATE trading the day after large gains, because I always do it with such great hesitation.

 

Sucks!!!!!

 

 

Jason

[sappjason 10]

I think I failed to mention that I feel like SCREAMING at the top of my lungs.......

 

Jason

 

-$4040. Utterly and completely worthless piece of crap for a day. As I mentioned before, whenever I have an unusually stellar day (like yesterday), my system ends up giving back almost all of the gains on the following day. But, mind you, if this happened every single time (which it doesn't), then I would always take the following day off. I just HATE trading the day after large gains, because I always do it with such great hesitation.

 

Sucks!!!!!

 

 

Jason

[edabreu 10]

I approach my trading day like a job ( a very nice easy job since I can trade or chose not to trade). I just come in and make the donuts and be done. I spend the rest of my day helping my trading buddies, and just enjoying the day.

[JBWTrader 10]

Hi Sappjason

My apologies for getting that wrong. Still a very good day !!

Well done

All the Best

John

 

Well, I had 22 trades yesterday, but only 14 of them were profitable. The other 8 were losers as you can see from my blotter. But thanks for the compliment. These types of days are very few and far between for me, but I'll take 'em when I can get 'em.

 

After days like these, I'm always gun-shy on the following day, because many times, the following day sucks. We'll see......

 

Jason

[sappjason 10]

No problem at all John. But, I must say, my system gave almost every bit of it back today.

 

Jason

 

Hi Sappjason

My apologies for getting that wrong. Still a very good day !!

Well done

All the Best

John

[Dinerotrader 10]

SIM

+$458

 

 

Alright, really lost my way this morning with my rules. I think this week's profitability got to my head a little. Refocused after the first hour of trading and did well. Oil just won't break free so if I had been trading for the big moves today, I would have walked away with a loss or maybe empty handed at this point. Who knows oil could breakout big later on. I just got that feeling that I need to quit so I did.

[sappjason 10]

-$1289. Another crap-hole of a day.

 

Jason

[enochbenjamin 10]

+60 - I'll take it too!

[Dinerotrader 10]

I realized I forgot to include the headings of my excel sheet in my last post and then I got thinking I should ask what others think are useful statistics to track on your trading. Here is what I am tracking right now. I'd be tracking more information if I had fewer trades per day but I am still working on that.

 

[sappjason 10]

I keep track of EV and P/L ratio. But, that's probably because I'm automated. I optimize by maximizing my EV and minimizing my draw-downs. As far as discretionary trading, I really don't know if keeping track of EV is appropriate. Perhaps Thales could chime in on this.

 

Jason

 

 

I realized I forgot to include the headings of my excel sheet in my last post and then I got thinking I should ask what others think are useful statistics to track on your trading. Here is what I am tracking right now. I'd be tracking more information if I had fewer trades per day but I am still working on that.

 

[Dinerotrader 10]

You think they'll substitute my 4 months SIM trading crude oil for the 10-15 years trading experience. :rofl:

 

[Dinerotrader 10]

SIM

+$134

 

 

 

Positive but a bit disappointing. Picked the oil turn around at 8:00 but my entry wasn't good enough to have patience through waves down. Good learning week. Getting more comfortable with my method but still working on some specific rules for handling mid day trend reversals. Shooting for a better week next week.

[subterfuge 10]

well done denerotrader.

You must be itching to get live now!?

You've been very consistent it would seem.

 

Out of interest, does the demo you're using factor in bid/ask size, last trade, time and order delay to determine fill probability? Not that it matters a great deal because you dont seem to be 'scalping' anyway.

 

Other than the emotional element (not to be underestimated), I cant see much standing in your way as to why your results shouldn't continue when trading live.

 

Anway, keep it up.

 

Sub

[Dinerotrader 10]

well done denerotrader.

You must be itching to get live now!?

You've been very consistent it would seem.

 

Out of interest, does the demo you're using factor in bid/ask size, last trade, time and order delay to determine fill probability? Not that it matters a great deal because you dont seem to be 'scalping' anyway.

 

Other than the emotional element (not to be underestimated), I cant see much standing in your way as to why your results shouldn't continue when trading live.

 

Anway, keep it up.

 

Sub

 

Not sure what factors OEC's Demo uses to determine fill but when I traded oil live a couple times it didn't appear to trade any differently.

 

The emotional side does worry me. I've traded and do trade stocks live but they are just so much slower so not as emotional. I am trying to prepare myself but my biggest preparation for the emotional side is trying to get more defined entires and exits and have a consistent trading record that shows me I can do well if I stick to the types of trades I know. 2 weeks ago I made some changes to my method that totally changed my consistency and confidence in my trade setups which is why I am just focusing on the past 2 weeks results and not including prior SIM results.

 

Out of all my family and friends, I only know of one person who thinks I might be able to actually do this and consistently make money. I truly believe I can make this my career but we'll just have to wait and see.