Trader P/L 2010

[enochbenjamin 10]

SIM

-$750

 

Tomorrow's another day. Silver slaughtered me.

 

Silver is not a good contract to trade for the little guys. You will make some quick easy money a few days and then get your head handed to you on a silver platter!

[thalestrader 14]

Silver is not a good contract to trade for the little guys. You will make some quick easy money a few days and then get your head handed to you on a silver platter!

 

Another way to look at it is this: Just because your broker will let you trade it, that doesn't mean you ought to trade it.

 

Best Wishes,

 

Thales

[Dinerotrader 10]

Another way to look at it is this: Just because your broker will let you trade it, that doesn't mean you ought to trade it.

 

Best Wishes,

 

Thales

 

Okay, I get it. I'll stop trading silver.

[Dinerotrader 10]

SIM

+$1,295

 

Good day on P/L but I blew my exits on 2 natural gas trades that cost me mucho ticko. Most of my early oil trades have been proving poor so I might start holding off on making trades until things get going. Didn't even watch silver. I am considering dropping the RLM. It doesn't seem like I have ever been able to get in synch with it on a consistent basis. The 6E didn't give me much to work with, 2 BE trades and 1 small profit.

 

 

2 Week Summary

Its been a good 2 weeks. I've been changing my trading methods a bit and so far so good. I only allow myself to trade 1 contract right now on every trade. I now know I have the ability to do well, it is just a matter of getting the consistency down, limiting losses, and trading the same way with real money. No small tasks.

 

 

This thread became like the gym. Crowed right after new year's day and then down to just a few in February.

[Cory2679 11]

Hey guys,

 

Since I said it here...

 

I will also continue to post my weekly P/L over at the Trader P/L 2010 thread.

 

...I'll post this week's P/L. However, I think it's silly to essentially make duplicate posts, so from now on, I'll just post my P/L exclusively on my log.

 

You can view my P/L log post here.

 

-Cory

[sappjason 10]

+331. Not the best day in the world as that big reversal (shortly before 2:00) blew out a lot of my stops.

 

Jason

[thalestrader 14]

Does anyone trade varying lot sizes depending on how "good" the setup is?

 

You will serve yourself better by exploring adjusting your position size based upon real risk, rather than on perceived "goodness."

 

Best Wishes,

 

Thales

[Dinerotrader 10]

SIM

-$715

 

Oil trend caught me off guard even though it gapped up. Didn't ride out some of the good trades I was in.

 

[sappjason 10]

-$990. I keep getting my "!@(*&(&^$#" handed to me. I'm now over 1 month of being in the same darned DD and it's driving me insane..... Today, I had an issue with IB (that I've seen before) that caused me to screw up one of my trades and I ended up loosing $43.38 on that particular trade. However, if I had fixed the damned issue 6 months ago (the last time I saw it), this particular trade would have been +$1200 and I would have (at least) been on the profit side of the house today. So pisses me off.....

 

Jason

[bathrobe 10]

Today, +60. Completely boring day in the ES.

 

I am thinking about leaving CL alone. The price action just does not work for me

 

My equity algo, and I say that very loosely, is taking time away from my main futures account and we are stuck having something we turn on when conditions are triggered and not leave on all the time, which is really not what I want.

 

I am possibly going to move the capital used on the algo to options on futures.

 

Chris

[brownsfan019 17]

Sorry I've been MIA a bit here lately guys, glad to see some are still posting!

2-17-10: +$340.00

Ok day on oil today. Missed 2 really nice trades due to lack of focus on first day back this week.

[brownsfan019 17]

Okay, I get it. I'll stop trading silver.

 

I think that's VERY smart of you.

[MidKnight 12]

Today, +60. Completely boring day in the ES.

 

I am thinking about leaving CL alone. The price action just does not work for me

 

My equity algo, and I say that very loosely, is taking time away from my main futures account and we are stuck having something we turn on when conditions are triggered and not leave on all the time, which is really not what I want.

 

I am possibly going to move the capital used on the algo to options on futures.

 

Chris

 

That's unfortunate about the algo work not living up to expectation. I've been there....heaps of times.

 

If I may query, why FOPs rather than just futures? I am going to assume these will not be quick scalps but rather maybe have some other component to them, maybe you want the greeks rather than pure delta?

 

With kind regards,

MK

[bathrobe 10]

I am going to assume these will not be quick scalps but rather maybe have some other component to them, maybe you want the greeks rather than pure delta?

 

With kind regards,

MK

 

I feel more comfortable trading physical commodities with options than with futures, and yes these will be longer term swing trades.

 

Chris

[brownsfan019 17]

2-17-10: +$380

 

Felt like a slower day to me on oil today. Shut it down at noon and said see you tomorrow friend.

[Dinerotrader 10]

SIM

-$682

 

2 days of big losses and I feel the confidence draining away. Got stoped out of my long on GNG at the low of the day so I'll start moving my stops a few ticks farther and see if that helps. Still working on taking fewer trades.

 

I thought FOMC would provide some good movement but didn't do anything useful.

 

[sappjason 10]

$-390. Uggg.... Need I say more.....

 

Jason

[charles1 10]

I really enjoy trading......:crap:

[brownsfan019 17]

2-18-10: +$300

 

Small account got 1 short and 30 ticks. In an uptrend, I will take it.

[Dinerotrader 10]

SIM

+$10

 

Had to get some tech support in the morning during the big oil move so I didn't even get a chance to trade it. Inventory on both oil and gas was today and they were both pretty slow.

 

[sappjason 10]

+$1895. 'bout time for a decent day.

[brownsfan019 17]

2-19-10: +$680

 

Nice day on oil, wish they were all this easy. Great moves until the lunch lull kicked in and I said adios.

 

Note - if you are trading or watching the CL contract, you should be trading the J0 contract today as that has the most volume. If you are on the old one, you are ok for today but change over on Monday. CL is a monthly contract.

[sappjason 10]

+$2435 Another nice day for me.

 

Oh shoot. Almost forgot to mention my best news. I finally broke out of my hellish month long DD and popped through a new equity high today. 'Bout time.....

 

 

Jason

[daedalus 10]

+$2435 Another nice day for me.

 

Oh shoot. Almost forgot to mention my best news. I finally broke out of my hellish month long DD and popped through a new equity high today. 'Bout time.....

 

 

Jason

 

Congrats man! Drinks are on the markets tonight I suppose? :rofl:

[Dinerotrader 10]

SIM

+$630

GCL trades: 6

GNG trades: 1

 

 

A quick note before my day's notes. These ideas are specific to my style so I realize this isn't necessarily true for other traders.

 

I realized over the weekend, that my overall trading strategy was requiring too large of daily winners to be profitable. This meant that when a big move was brewing, I had to be in it or my day would not be profitable which led to overtrading.

 

I don't want to become a trader that relies upon big moves to survive since those don't always happen, I am not always going to catch them, and I want to be able to take vacations without worrying about missing the big moves. My new philosophy is going to be based around being able to make money day in and day out on swings that always occur. Don't get me wrong, I am not looking to start scapling. Today went well but with my new method, I will have to cut days short if I my first few trades don't have a winner. I am still working on trade filtration so I can up my win rate to match my normal stop size.

 

I'll try to start posting the number of trades I took to keep myself more accountable.