$5k e-mini journal

Discussion in 'Journals' started by walter4, Jul 21, 2008.

  1. This will be my personal journal to document my failures and successes in trading futures.

    I'm starting with $5k, my initial goal will be to survive and focus on learning by watching the market each day. I also hope to eventually learn how to trade without a chart.


    Discretionary entry and exit, based on observation of price action; hard stops; positive r/r ratio.

    I will be trading every other week, starting next Monday.
  2. Any reason for this? I guess it seems "glamorous" to be able to trade without a chart but I'm not a fan. If you find your DOM and tape reading skills are good and charts are throwing you off, then go for it... otherwise, try messing with different types of charts (tick, constant volume, etc). FWIW I really like the 250CV for NQ (probably ~1000CV or a little more for ES) for reading PA.

    Good luck :)
  3. thanks Tommy. :)

    x x x

    The day 1 results: -$1085 on 48 ER2 contracts


    I started the day off with a few bad trades, then it all went to hell in a basket. Started tightening my stops, moving them closer to breakeven and stopping myself manually. I wasted every opportunity I was given until I hit the 1k circuit breaker.

    I also realized that my survival skills are pretty much nil. Not good.
  4. Good idea trading without charts. Charts are the dumbest of the dumb trading ideas, not analyst idea, but trading ideas. Do you drive looking in the rearview mirror? That is what trading with charts is like. Ya can't trade a chart, only see what you could have traded, the sooner this is realized the sooner the trader will break into profits.

    Good luck, you are on the right track.

    Joa ker
  5. I have not read your prior posts, so I have no idea of your trading experience. That said, I would first and foremost advise to trade on a simulator until you are consistently profitable. I wish I had done that when I first started 10 years ago. If you do not already have a developed edge, and it appears you do not, then why piss away real money until you have developed one or you have lost all your money? If you ignore this advise, then my next advise would be to stop trading the ER. Its too thin and volatile IMO. Consider trying the YM. I would also consider getting with other hopefully successful traders on-line that you can learn from. Not necessarily their methods, cause they probably won't divulge that, but if you are routinely off the mark on your trades, they can help put you on the right track. In any event, good luck.
  6. davidjrjr


    Why did u fight the trend?
    Did u think about going short at any time?
  7. Holy Shittttt!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
  8. Why are you losing over 20% of your capital on one day of trading?
  9. ammo


    as a new trader your like don knots in a western getting ready to fight billy the kid,a sharpshooter,you don't even know how to fire a gun,get some target practice in before you do the real deal,paper trade,its free,the market will take your money very quickly,and 48 contracts@$5 a round turn,the commissions will eat you alive ,you should have done 1 or 2 trades,and you need a max loss limit,say 2-3%,thats 100- 150 bucks,you lose that you dont trade til tommorrow,all these rules that seem stupid are about as necessary as a steering wheel and a brake pedal.
  10. You should of walked away after losing $150 dollars man
    #10     Jul 28, 2008