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2steps
Registered: Dec 2011
Posts: 85 |
12-25-11 03:36 AM
I am starting a journal to record my trading activities of 2012.
Basic information about my account:
Starting capital: $4500,
Trading instrument: QM,
Trading strategy: Long or short.
Trading purpose: Make money.
If you have any comment, please participate in this journal.
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tomahawk
Registered: Apr 2007
Posts: 1952 |
12-25-11 04:43 PM
Hi there ... a couple questions for you : 1) do you have a backtested plan?, and 2) have you sim traded for awhile to make sure that plan works at least in some form of practice?
I hope you are not planning on trying to scalp QM. It is prone to hideous slippage, and that plus the .025 tick size presents 2 pretty sizeable challenges, imho.
Anyway, best of luck to you.
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2steps
Registered: Dec 2011
Posts: 85 |
12-27-11 07:41 PM
Quote from tomahawk:
Hi there ... a couple questions for you : 1) do you have a backtested plan?, and 2) have you sim traded for awhile to make sure that plan works at least in some form of practice?
I hope you are not planning on trying to scalp QM. It is prone to hideous slippage, and that plus the .025 tick size presents 2 pretty sizeable challenges, imho.
Anyway, best of luck to you.
1. I have a plan, but it was not backtested. I don't know how a backtest is done.
2. Did some sim trading. Not sure if it worked, because my discipline broke down after a little while of sim trading. So I never knew if the plan really worked. But it's reasonable to say that the plan will work while I, as a trader, may not.
Dec. 27, 2011, Tuesday:
Started trading today, couldn't wait for the new year.
Got up a little late 8:30am CT (about half an hour after pit open), looked at the chart, no setup had shown up during previous half hour, so I didn't miss anything.
Waited for another hour, no setup. So I shut down the computer. So no trade to report today.
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N54_Fan
Registered: Sep 2011
Posts: 388 |
12-28-11 12:24 AM
Quote from 2steps:
1. I have a plan, but it was not backtested. I don't know how a backtest is done.
2. Did some sim trading. Not sure if it worked, because my discipline broke down after a little while of sim trading. So I never knew if the plan really worked. But it's reasonable to say that the plan will work while I, as a trader, may not.
Dec. 27, 2011, Tuesday:
Started trading today, couldn't wait for the new year.
Got up a little late 8:30am CT (about half an hour after pit open), looked at the chart, no setup had shown up during previous half hour, so I didn't miss anything.
Waited for another hour, no setup. So I shut down the computer. So no trade to report today.
Good for you for NOT TAKING A TRADE when there was no setup. However, what do you consider a "setup". Also, you seem rather new to trading so I hope you can afford to lose your money... Because you will. In fact, you probably will lose 3-10 times that amount before you start to get it right.
Good Luck.
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2steps
Registered: Dec 2011
Posts: 85 |
12-28-11 02:09 AM
Quote from N54_Fan:
Good for you for NOT TAKING A TRADE when there was no setup. However, what do you consider a "setup". Also, you seem rather new to trading so I hope you can afford to lose your money... Because you will. In fact, you probably will lose 3-10 times that amount before you start to get it right.
Good Luck.
In the spirit of peer pressure, I'd like to bet against your prediction that I will "lose 3-10 times that amount" before I start to get it right.
If I lose 3-10 times $4500=$13,500-$45,000, I will invite you to a restaurant of your choice in a city of my choice.
If I don't lose that amount, you will invite me to a restaurant of my choice in a city of my choice.
Of course, the amount of loss is easy to know. The term "start to get it right" may be difficult to define. How about changing it to a fixed time, like the end of 2012 or 2013 or 2014. You pick a time, if you accept my bet.
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