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...And They Have a Plan. (Live.)



  1. K, here we go with my journal. I was going to hold off on this for a bit longer, but I ain't getting younger and I am in a good place tonight to show demonstrably what I be doing, with what I would like to show for the future, in futures.

    This journal will have lots of silliness from me (like the above video), and I am VERY sure it will have lots of needless banter through its duration from some of y'all. But that is OK. That is the point. I need feedback, whether it is vitriolic or complimentary. No worries.

    Futures only. At this time, it is WTI only (CL on NYMEX).

    Preamble..."How do I make money in a market when I have X amount of money to trade"?

    Trade what you can with what you have.

    "How do I know what I can trade with what I have?"

    AHA! Aye, there's the rub.
    ------------------------------------

    The current summary, live, and all the trades that transpired in that time in a list.


    ForETreal4TSsum.PNG ForETreal4TS.PNG

    This last one is the real key. It shows the maximum potential I will realize if I close all positions right now. Max loss is locked in at ~$700.

    ForETreal4MA.PNG

    So here is the real trick. When to close the profitable trades and let the losers recover? How far can it go? Or should I close it all now?

    Well, here is my signpost.


    ForETreal4fib.PNG
    So how to follow the fib with my open positions. Where do I exit? Exiting is just as important as entering. This is what I face every day in my trading. And this week is going to suck balls, because as you can see, I am spread a bit thin awaiting the inventory numbers. And I am running out of contract months to mitigate the risk!
     
  2. Have you developed a spread legging technique with NT? I need to suspend disbelief!

    Can we have a general overview and rationale for the method?

    Thanks.
     
  3. The platform doesn't matter. It just happens to be the one I use, and so those are the charts that I post. They are easiest on my eyes with Unirenko variants.

    The rationale is very basic. Almost too basic.

    What goes down must come up, and vice-versa. So I have been studying that fibbo. That bloody darn fibbo. It is uncanny how when you find a good cycle, it invariably pulls back to 50% of the previous cycle. What I am trying to do here is capture the best of both worlds. Get in on a cycle point, counter it in case I am wrong, and then profit when it goes right but mitigate the risk if I am wrong on the other side of it. Does this make sense?
     
  4. Is that like a leg spreading technique?
     
  5. You are so naughty.
     
  6. Nahhh.... just a wordsmith.
     
  7. A wordsmith? That's cool. So long as you are not an antidisestablishmentarianismist. :)

    See? I knew this journal was going to get funky. God bless you vanz. lol!
     
  8. Just curious where you learned to trade the crude spreads?
     
  9. To be clear on this, I am not trading "a spread" per se. That is a separate trading product. This is a pure future "calendar spread" to mitigate the overnight margin requirement for each future position. See the charts above for reference.
     
  10. Oh, I almost forgot to mention...The whole point of this plan about mitigating risk...

    Before the CL market closed, I had 4 open contracts. That required $4K in the trading account to cover the day-trading margin.

    But when the market closed at 5PM ET, the CME overnight margin kicked in, and with the offsetting spreads, will come out to about $700 due to the margin discount CME allows. So in effect, it is less risky to hold overnight positions in futures with the CME in a calendar spread than to hold onto them during the day. But it all depends upon your broker I suppose, and what they require you to do. :)

    This is one of the things we will be exploring in this journal, regarding...*shudders*...options. I fucking hate options. HATE. But if I could use it as a tool to help make more money, I am all for it.
     
  11. I like where your journals heading , whats the theory behind your strategy? (mean reversion, trending etcc..)
     
  12. I understand. It is only an order entry solution. Honestly, workflow and workflow solutions fascinate me the most. The market offers "cigarette butts" to pikers, if you have the time for it.

    OK. How do you identify and manage risk? What do you think is the risk?

    ie. Spreads can blow out and they will when we leave this trading range in CL.

    My impression is that you are "boxing" in profits like an option box. But, much less precisely because the curve will continue to assert itself in changing ways. And unlike a box spread's premium, you have time delta (which can still make new highs and lows). Nonetheless, profits are rolling in. So, let's focus on risk.

    You can pooh-pooh option trading. But, pooh-pooh institutional futures spread trading methods at your own peril. Please tell me you have this competence. (For the record, I don't.)
     
  13. I do not poo-poo on any type of trading. I simply don't understand options and how they can help me at this time, but there might be something there. It would be a huge learning curve.

    As for "institutional futures spread trading methods", I do not know what you are referring to. I do not know what "institutions" actually do.

    My level of "competence" comes down to a very basic pre-condition..."Do I have enough capital to cover a mistake, and how long can I hold the mistake for a recovery"? At this point, I wish I had twice the capital I currently have to have good confidence in the system.
     
  14. I am curious :
    could you put a list of your losses, or just the % of capital that each loss represent, as well as how long each loss was held for?
    I don't know if this would be possible, is it possible to see the maximal adverse heat on each trade, as well as the % of your capital that it represents?
     
  15. It's all in that trade summary page you see above, the one which shows each trade entry and exit time. Study it. I could not post every chart for every day, that would be too unwieldy. The "maximum adverse heat" on the open positions is simply what the unrealized PnL is considering all open positions + maintenance margin during each day, from settlement time through market close. 6PM ET, it all resets back to day margins. And the cycle starts all over again for the next trading day.

    As for the percentage of capital lost on each loser, that is also irrelevant. The only thing that is relevant is being able to maintain positive NLV at market close. That is the ONE rule that must be adhered to. It is the prime mover of this system. Positive NLV = no margin call.
     
  16. Well, here is the final summary for the week ending yesterday.

    (See the NT7 thread in the "Trading Software" section for my little beef about the issues with the journal.) Man, I really needed this 3-day weekend. Calgon, take me away.

    A whole lotta' notta here.

    ForETreal4TS3real.PNG
     
  17. You must be kidding. Your up 6% for the week

    Have you analyzed trade #30 and #42 on different time frames already?
     
  18. The P&L is up 6% for the week. But I don't think that his NLV (account value) is up 6% for the week?

    @Overnight It is interesting to see that the trades not relate to only one futures contract (one expiry), but that you use several different ones.
     
  19. How about a broker statement that matches these numbers?
     
  20. That can be arranged, yes. Give me a bit of time to redact.
     
  21. K, here are the two statements as you requested, redacted for privacy. The first is the start of the journal from Jan 9th, the second is the closing statement from Feb 17th, no open positions at this time. The dates are listed at the top.

    Three notes: 1). The account balances you see are actually 5 digits, not 4. The 5th digit was redacted, along with the penny. (Employing this method with less than 10K in the account would be suicide.) 2). I withdrew $2K in the interim, so add $2K to the final number on the second statement for the true accumulative total. 3). The journal's above total does not include commish/fees in its total. Just round it to ~$4.3 per side per CT conservatively.

    sum1.png


    sum2.png

    So that is where it stands at this time.
     
  22. Sorry, doesn't count unless you include your account number. ;)
     
  23. LOLZ! They wrote a song about that you know...!

     
  24. K well, had to take a break from trading for a while due to other obligations. So where were we? Jeez, been three weeks, mostly. Here's current standing, nothing open at this time. Feels good to be flat!

    ForETreal4TS4real.PNG
     
  25. I asked the mods to reopen this journal thread. There may be some value to it, based upon feedback I got in PM over the past 5 months. *sighs*

    So, let us continue. It (the market) has changed, of course. CL is crap now. NQ is me new focus.

     
  26. Here's the latest print of live-account activity, from last activity date in the thread back in March 2017...(CL went weird then, so I shifted my focus after March away from CL and onto other markets, like YM, NQ and cows. NQ seemed to have the best possibility of good price action. (Thus, we go where the meat is. Har! ))

    newetpicchange.JPG
     
  27. Well, done trading for the week. Kinda' burned out on all the chart study to continue trying to trade out rest of Friday.

    Rule #1. When burned out, stay out! Brace, brace, brace! <---(Name that movie.)

    I'll just post updates weekly. Posting daily is just spammish.

    Pic of trade log for the week...

    journal08182017.JPG

    And summary screen from the beginning...

    journal08182017summary.JPG
     
  28. Small update. Missed all the long action today in NQ, and got in too late. (Newbie mistake.) So I went back to hedging the calendar spread (like I used to do with CL) after I lost the ability to read what the heck was going on with my long.

    I am super hooked on calendar spreads, I can't shake the idea of them. So here's what it looks like for now. Let's see if I can get out this trade with profit.

    nqspread.JPG
     
  29. Well, today was a fine how-do-you-do. Booted up the trading machine this morning and found a lovely little issue. I didn't have the presence of mind to screen cap what the charts looked like, but use your imagination from the NT log...

    nqspreadbuggered.JPG

    When I logged in this morning, the actual NQ prices were at almost exactly the same entry points.

    The problem is December. Reference the charts above to compare the spread. See a problem with Dec NQ? My average price was 5875.00, NOT 5836.75. lol! So Ninja was telling me I was in a near 40-point profit on the long. I closed both positions right away to get out of the mess. Wound up with a net loss of $40 on the deal. Totally screwed up my day.

    Edit: I found the issue I believe. It has to do with how the CME calculates "averages", and how those numbers are sent to the broker. Talk about a convolution of confusion when doing overnight holds...

    nqspreadbuggeredstatement.JPG

    The average long is there at the bottom., and that must be where NT picked it up. The $1415 debit trade isn't actually a daytrade, just a way they calculate a position from one trading session to the next. I simply do not like how Ninja's charts show your open positions based on these "averages", because they do not represent the true unrealized value of the positions.

    Have a headache now. Ug.
     
  30. Weekly update...

    Slow week, not many trades. I haven't been able to be in front of trading computer much, because I currently am not in the mind to make money trading. So I stayed out most of the week. Especially after the Wednesday debacle with the front-end and CME reporting. Blah.

    journal08252017.JPG
     
  31. Trade journal from last week...

    journal09012017.JPG

    Another slow week. After today's performance, which will be updated next week, I am batting zero for this week as compared to last. Today was a peach due to a sloppy error on my part. Ahh, trading is joyous.
     
  32. And when you say joyous you mean stab your eyes out miserable right?
     
  33. More like a thousand paper cuts sprinkled with lye while getting toenails slowly chewed off by a rabid marmot that's on fire.
     
  34. now that sounds more like it :)
     
  35. Well, last week was just total crap. Went in on Tuesday to do an overnight hold long. The opportunity seemed ripe. Yet I wanted to do it with just 1 contract. I mistakenly went in with 4cts. So I sat for a bit, then closed it out at a loss. I just didn't want in with 4. My plan was for 1. So after closing it I went back in with 1. That started failing so I tried to spread to mitigate the damage, but then my mind fell apart because I was so damned mad at myself for making that mistake. At that point I closed the losses, tried two more longs and then said screw it, my mind is not working correctly. Don't trade when mind is not working correctly.

    So I decided to not trade for rest of week as I stewed over my mistake. I tend to treat myself very harshly when I mess up, and could not bear having to mentally self-flagellate again if I made another mistake.

    The only solace I can take away from this is it was the right thing to do, because if the market HAD gone down after that, I would have been pleased. (But it didn't. *le sigh*.)

    journal09082017.JPG
     
  36. This right here is why I always do much better in my automation periods. Sometimes when my automation sucks, I go back to manual and then I suck at managing my emotions under quick thinking situations like you did in this most recent post.
     
  37. Just one trade last week, won't bother to post another synopsis until I have more trades going on. And one this week, to get in on the Fed thing with a spread. Here is current position on it. So when you don't know how the market will react? Just spread it, and wait for dust to settle, then stop on the losing leg and look for continuation on the profit leg...Or vice-versa.

    whattodoMAnalyzerJPG.JPG

    I decided to do this mostly because I need to test something with my broker regarding holding through overnight, and figured today would have been as good time as any.
     
  38. So tired, so tired. This really is one of the best shows ever written for television, genre notwithstanding.

    Jump!!!

     
  39. Been a bit, yah. Stopped trading, then took a 10-day vacation. Screenshots of progress from where trading was last left off, at trade number 6 on the pic. As one can see, the spread worked...

    But I hate the coulda' would shoulda' nonsense in my head about when I was long NQ a month ago. 5917!!!! And look where it is now. *sniffs* I gotta' get out of that trap, it is messing up my head. As Jimi Hendrix sang, "There must be some kind of way outta here, Said the joker to the thief. There's too much confusion, I can't get no relief..." (Listen to above video background music...)

    NQliveoct long summary.JPG
    So here's a current "naked" open position I have at the moment. It is on March NQ, so I have some time for it to hit target, and won't get a margin call unless NQ drops about 3000 points or so. I do not see that happening in 6 months. In the meanwhile, there are bits I could do to build the account. Just gonna' let that position sit and stew. I'm just looking for a ~20 point target. What is so bad about that?

    NQliveoct long.JPG
     
  40. Got impatient with the NQ long because it seemed to stall so closed it early.

    NQliveoct long summary1.JPG

    One trade all week. Whoopie.

    My biggest problem at the moment is the severe dislike of staring at the charts all morning looking for entries. I've fallen into "fire-and-forget" mode. I am so burned out on it all that I am losing perspective about day and positioning. I'm fried. I thought the vacation was going to help, but all I keep thinking is "Why didn't I just go long and sit on it?" And the answer that keeps coming back to me is this North Korea shit, and the potential correction that "is supposed to be coming."

    And I keep losing sight of other instruments. Like HO, great example. Great entries all week, huge movement. But I just can't stand sitting in the cave of boredom anymore. Maybe I should try listening to music or something. Aroma therapy candles? Marijuana?

    Melt? Zzzzz.
     
  41. K, latest update...

    Here's the cumulative from the previous post...

    NQliveoct long summary2weekend.JPG

    I did a spread on a NQ long because two days ago I went in long, right at the evening peak. The thing went against me a couple hundred bux, so tried to cover the potential down move because I thought it could be a minor correction. It worked. That short you see went down to $1,200 profit, and could not figure where to get out. When it went back up 20 points I exited for the $850. I missed the rest of the cycling it has been doing since then, because I am a scaredy cat. I could have reversed the short and captured the retrace up, and then could have reversed the long to recapture the offset. Alas, I am not ready to mess with the equity indexes in this fashion. There is too much weighing on my mind about this whole tax plan nonsense in December which pundits are saying is now priced in.


    Here is my current naked long, if you will, on March 2018...

    NQliveoct long summary2weekendsnip.JPG


    I also wanted to make mention of something I found disconcerting. It was in a different thread, but the basic theme was that all journals are fake sim money and thus have no value. The whole reason I started this thing was because I wanted to show that it is really possible to make money in the markets. I had provided proof early on in the thread that this is not a fake journal. This is the real deal, to be addressed in a moment.

    I also recall Xela mentioning that she found journals without discussion about entries and exits of little value to the community.

    I agree with Xela on that point, but I hope that she and others realize that this is not a strategic journal, in that sense. This has always been a journal to give others out there hope that yes, you too can make money in these markets. It is a difficult trek, but not impossible. I am trying to inspire others that all is not lost. I hate this whole idea of the "95% of all traders lose their shirt when starting." It does not have to be that way.

    Prudence, risk management and understanding the instruments you are trying to trade...That is KEY.

    It is NOT, as Rikshaw likes to put it, "so easy a caveman can do it." It takes a bit more. But it IS possible to make money here!

    Anyways...As further proof that this is not a shit-fake trading journal, I post the following...

    accountproof.JPG


    This is a NinjaTrader summary screen of executions. Anyone who uses Ninja can verify that what I say is true. See the "A" column on the right? That is the account column. The "9" is the live account, and the "S" a sim account.

    Notice the ID and order ID columns. See how the sim account trades are just a bunch of hexadecimal garbage, but the live trades are a string of real numbers? It's live, dudes, and we have a plan!


    Octlivesummary.JPG

    The above is the latest trade screen for the last few months, a summary if you will of the actual trades. If you have any questions, just look back to the previous journal entries! I try to tie them together in a chronological string.

    And here is the total summary for the year thus far...

    latestgeneral screen.JPG

    I think I broke my back, I'll never jump again. Red lines through all my lateral structural members. Ow!
     
  42. Had to put in an update for this ugly "converse average down" technique I've been working on, which I used in CL. It is tougher in NQ because there are only 2 months to work with, not many many months like energies.

    octopenow.JPG

    I tried to "average down" by catching a large drop on the front month. It is failing, because NQ decided to drop another 60 points today from the original forward position. Bugger!
     
  43. Closed them out this morn and am done for the week. Continuing the cumulative from the closed trade on the 19th...

    octclosed.JPG


    Saw a possibility on Monday evening with NQ opening very close to low on the calendar day, so took it for an anticipated rise during Asian session. Watched it cycle the next morning and got out around second touch of daily high. Went in same afternoon long with what looked like a decent trend break near the middle of daily range and shut down. Then came Wednesday and the unrealized drawdowns as posted above. At one point the two positions were down ~$3,100 combined but the overall drop seemed a bit too severe to be sustained for long.

    Vindication came today due mostly I suspect to the great earnings reported yesterday evening. Today I was really tempted to try and set the targets to positive what the max drawdowns were negative, but felt that might have been pushing it.

    Needless to say, they actually did just that this morning. December went up just under $2,000, and March went up just over $1,000 from the entries. Targets were ~20 points shy on each contract of that idea, but big deal, I got out with a decent week considering it was just 3 trades.
     
  44. So which is better? Star Trek, or BSG? Hehe.





    OK, unfair test. The pie-eating contest bit from Breaking Bad is funny though.
     
  45. It is the weekend, yay! This song might have to do with trading! Think about it this weekend! Mmmmm!
     
  46. I said I was going to stay out this week, but could not resist taking a position on what some are calling a X-Mas rally possibility. Now that the GOP tax plan shit is public, Hmmm. Do I nab profits now, or wait for "the Friday rally"? I can get out now for ~$520. That is a safe play.

    Well, let's see how far I can stomach the temptation to pull out.

    nov open.JPG


     
  47. An hour later, my mind kept going on about it and decided to play it safe so closed out. Am happy with the results, as YM has been a bit shaky all day today.

    nov yms.JPG

    I did not anticipate such a great rise in NQ today however, after the 10:00 AM ET dip. Friday rallies seem commonplace, and sacrosanct. When do we draw the line on them? This bull market has balls bigger than the Charging Bull on Bowling Green in Manhattan.
     
  48. Have not updated since 09/03 because I have an ugly open position I am working. Took a few fliers in the meanwhile. Will update when I get these yucky longs closed out.

    I also need to rethink how much risk I can take without putting off my broker. I am being so bloody conservative it might be hindering my progress. But my broker takes priority, not me. I must think of them before me, but also think of us as a team? It's weird in my head. But hell, I'm still here, and so is the broker. :)

     
  49. Good journal goofy.
     
  50. Ya, I might follow along on the sidelines stalking and trolling and get some shots in here and there too, hehe.
    :) (salivating, licking chops)
     
  51. I think ON would be disappointed if you didn’t.
     
  52. Damn, looked through the journal and noticed the typo above, about not being updated since 09/03. I meant 11/03. *seethes*

    I still be waiting to close out the two longs I am currently in. My risk-averse nature is preventing me from going in deeper. Shit, could have made 500 bux today if I wasn't so...wimpy.
     
  53. May I know that type of chart are these?
    They are similar to renko chart.
     
  54. It's a customized version of unirenko bars.
     
  55. Latest update...

    Closed out only one of the long-term longs (March NQ) in trying to find the peak. I got that one today. The YM has not hit it's peak yet in my estimation, so hung onto it. Took some daytrades in there as I saw the opportunitues for intraday trend breaks (mostly long).

    So summaries follow. As usual, here are the cumulatives...

    The update continuing from 10/27...

    end of nov trade1.JPG

    Total year thus far...

    end of nov trade1a.JPG

    And total summary screen...

    end of nov trade total sum for year perf.JPG

    Here's the open YM long...

    nov ym open.JPG

    My target on this will be 100 points from entry. I want my 500 bux on this assholish dumb entry. I am sure I will get it before X-Mas. I would hold into rollover if target is not hit, if I didn't want to be flat at end of year. But I'd like to be flat by end of year. But who knows? It may start going against me in a couple weeks, and may take a loss. We'll see.
     
  56. K, so where'd we leave off...

    Trade# 127 on the all-time list.

    Here's the updated trade list from trade #127...

    decsummary.JPG

    And here's the total summary from beginning of year...

    2107totalsumeoy.JPG

    A few things of note...

    The YM trade that was open from previous post, at entry of 23482, you can see was carried past 100 ticks.

    Also, in there you can see the June NQ long, the entry at 6277 I had mentioned missing on the super-free no risk $$$$$ thread, but got in at 6320.

    As for the rest? Just trying to work out many things in my head about how to turn losing daytrade entries into winning position trades using the only edge I can currently find, which is time.

    AND, I am finally transitioning into 2-contract positions, (as you can see for the past week of entry/exits) which should help the profit curve go...more up. :)

    Speaking of which, here's the equity curve from beginning of year. Rick free $$$$ man gave me that idea, so post it here in case people might want to see it. The dead zone from March to August is because of the pause in live trading. But yes, it can be done! Mostly!

    2017cumgraph.JPG

    I will have an end-of-year synopsis of this whole thing around X-mas time. I looked though the tax forms and see no real detriment to holding open positions though the end of the year, so that option is now open in order to make better use of the time edge.

    This is my first time studying equities into a bull-year end with a major tax plan incoming, so still have fears. Look at the NQ go...If I had more experience with this, I'd still be in the NQ, and would have not gotten out at 6461.

    And all this while Saul is in my head. I better call him.

     
  57. Party on Wayne!
     
  58. Both the trade list and the profit graph are very pleasing to the eye. Well done. Keep on rocking!
     
  59. Thanks. I try to do the best I can with what I have.
     
  60. Question is, what are you going to do for new years with that fat trading account? Vegas?
     
  61. That account is anything but fat. $30,000 gross? Fucking insignificant, and I lead a very thin life with no familial hang-ups.

    After all is said and done with the expenses/taxes of living my shitty little life, I'll have $~13,000 in the bank at New Year's, as compared to a year ago. Granted, that is a net profit of $~13,000 per year, yes. But it is in no way fat. I'm still eating Kraft Mac 'n' Cheese, and I only buy those boxes when they are on sale for $.99 or less per box.

    I do occasionally treat myself to Slim-Jims™ when they get them in bulk at Wal-Mart. :)

    *BELCH*
     
  62. Nice job with your trading - I found your thread interesting. The one thing I couldn't figure out was this: you were turning a day trade into a calendar spread only for margin purposes so you could hold it overnight right? Why is that any more advantageous than just closing the position out and re-entering the next day?
     
  63. Good question. I'll address that in my first end-of-year synopsis.
     
  64. K, so here we go. First year of the real shit.

    Final cumulative since last update...

    final cumua.JPG

    Final summary for the year...

    final cumua summary.JPG

    It was a great year. I did well. Until...*drum roll*

    I fucked up on Dec 18th. Yeah, fucked it up big time. I went long right at the peak and kept thinking about rally rally rally, without looking through what had happened over the past year. After Dec 18th, the bull's legs started to give way. But I was stubborn and decided to attempt to feel what it is like to suffer the consequences of my actions. A bad case of applying sim to real "just to assure I could handle it."
    *sighs*

    To answer @bh_prop specifically...

    This whole endeavor first started out in CL with the idea of being able to hold positions long-term with minimal margin risk. This was achieved with the margin credits. Then CL got weird on my method near the end of March, so I took a break. I tested and tested and then saw the NQ's major motions, and so thought of that being a good daytrade opportunity. During the summer I messed with daytrading the equities in sim. During that bit, I started thinking of the previous exploits with CL. The whole idea of "an order entry solution", as xandman put it.

    The idea then became..."I am going to enter here and my target is X. I will not have a stop, because there are many pullbacks. My entry will recover." So a daytrade became a position/swing trade.

    At this point in my thinking, I had deduced that time is the edge there. What is my stop? A fixed tick value, or time? Time trumps all, with a large enough bank to be able to survive the unrealized draw. So I started working that angle, of just going long and staying there. No more need to "trade". Just enter and hold it. Easy.

    "Why is that any more advantageous than just closing the position out and re-entering the next day?"

    Yes, this is the bugger I am coming to grips with. I went in with this idea at a very bad time.

    I have concluded that just entering and holding a loser is very inefficient. While my losers sit there, lost, I cannot do anything else but wait for them. But by closing a loser early and working back up to BE, you are still in the game and not swinging in the breeze, and can make more by the time the old position gets back to BE.

    Here is my example, and why I think Buy1Sell2 is gonna' yell at me...My current open positions. This is not really prudent risk management. *sighs*

    final cumua summary mark analyze.JPG

    On the surface it looks bad. And to me the June NQ entry burns me the most, because it was just a 20-point buy-in. Should have waited. Alas, should have could have.

    Anyhoo, that is my current status at this year-end.

    Thank you for following this odd journal of 2017. It's gonna' get even weirder next year when I get my ass out of that open position sling. I may get burned, or may come out smelling like rose water and Lysol™. Who can tell?

    Shout out to my favs, you know who you are. (And hey, xandman, where have you been? I miss your dog with the bondage ball in it's mouth. hehehe!)

    P.S. I may get back into CL and ditch equities. It just all seemed less stressful. In the end it is all challenging, sure. But I miss the fun of energies.
     
  65. :fistbump:
     
  66. See? I screwed that up as well! "It was a great tear".

    *heavy sigh* I edited the typo. God damnit.
     
  67. :D
     
  68. Oh yeah, one other important bit I am forgetting to mention...

    That transition from CL to equities didn't work so well because the whole basis of the CL method was being able to reposition losers against winners many months out on CL. MANY months. CL is active over a very long term. NQ and YM? Stuck in just two trading months. Heed that peeples! :)

    (Hi speedo)
     
  69. Fuck it, happy new year ahahahaha!

     
  70. Happy new year Overnight!!! Hope you catch a break and can weasel out of those positions with minimal harm done.
     
  71. Thanks algo! It is going to be one of those buns-of-steel moments this quarter, but we shall see!
     
  72. Good cover. I like the flanging/echo stuff going on.

     
  73. Hell of a week. Current result from that ugliness and continuing from previous posted update at trade #150...

    jan52018monthsumeoy.JPG

    It was incredible watching open positions go collectively from $10,000 down end-of-day Friday, to where I was on Dec 19th (basically BE) the next trading day on Tuesday. So Wednesday I took the big profits. Closed it all out. I decided I then wanted to try a simpler Plan, and try to day-trade again with a simple goal of $800 per day. That worked yesterday.

    Today I tried it again on YM and it worked in a way. I think I tried it with YM specifically because of the disdain I feel for myself if I had just held it. Look at that! 300 points up since my entry on Dec 18th! Grrr. Hell, if I had held onto all of it.

    Alas, cannot get bogged down in all of that stuff. Gotta' keep reminding myself of the fact that I got out with profits. Did I get out too early? NO. The plan is the Plan, and it evolves, just like the markets do. The plan is to make a living trading, which defines the Plan. Thus the Plan must evolve with proper planning.

    Or something.

    There are so many ideas to make the Plan work, but I see now that my plan must involve the only edge I have, which is time. Buy and hold, calendar spread, average down over time across the contracts (by assuring you have enough time to make that edge work in your favor), offset with other markets, flea-flickers...The number of variables I see is immense. On what to settle upon I do not know yet, but probably never will because by the time one plan has been tested for a year or two and starts working consistently, the market dynamics change and so then must the Plan.

    I didn't plan for that when I started the Plan.

    So yes algofy, I did get out with minimal damage done.

    The max unrealized DD on that position for the New Years hold came out to only ~$30,200.

    There's a certain new poster here on ET that I hope reads this and realizes that trading 10 lots with a four figure account can lead to bad things. Always overcapitalize, not under!

    Anyways, in thinking about how I kicked myself in the ass for going long at that peak on Dec 18th and how I poorly implemented a scaling-in plan, I have established a new position.

    I am currently one contract long in June NQ at 6670.25. If the shit starts hitting the fan on this new peak, I can properly scale in now with a new perspective. I am taking into consideration what had happened in the past with Jan to Feb closures in equities.

    A new adventure awaits!
     
  74. Glad you got bailed out. Good 2017, hope you smash it in 2018!
     
  75. We're rocking the franT cookie beats!




    (It was either cookies or Chem bros. Not sure which you prefer on the beats.)

     
  76. Wait, did you get your promised cookie?
     
  77. I was never promised a cookie by franT, that was your bag IIRC. I was on the sidelines. I send you surrogate cookies in their stead.
     
  78. Hey, I just discovered your journal Friday. Nice! Interesting.
     
  79. Good luck on the journal. I have actually been trading with a similar Renko system for swing trades on futures with some success as well so will follow and pop in with any useful nuggets :).
     
  80. Yesterday chafed my ass!

    Continuing from last trade at #159...
    jan122018sumeoy.JPG

    The June NQ long I was in on 01/05 @6670.25 I accidentally had a target still set on, that one closed out.

    I went back in it later on with my mind all aflutter about long long long. Closed that one out too early also. But on Wednesday the shorts sang out beautiful songs! Made some good scratch there!

    Then comes Thursday! WTF man, I decided to try some NQ long scalping like I did on Wednesday short scalping. I failed like Bob Barker's horn guy with much flatulence.



    Lost ~$760 on the NQ that day I can tell you. Shuvs and Zuuls!



    Today worked out better on the longing, but not so much scalping. I think Xela calls it semi-scalping. I really wanted to get to $1500, just because it is a nice round number.

    So I look at the past two days as a loss of ~760 on NQ yesterday, made that back today so NQ is a scratch for Thursday.

    YM gave me the profit for Thursday and today and NQ added a bit today. So in sussing it out, the past two days averaged to ~700 per day and $1450 total. Not the $1500 I was looking for, but I'll take it!

    Here's current total screen...

    jan122018sumall.JPG
     
  81. Gonna' take a ride on my mind this weekend. Hedge my bet on a clean Corvette to get me there right on time.

     
  82. You smoking the good stuff with Johnny again?
     
  83. You are so silly. Come here, let me fondle you on my dry journal pages. They will soak up the juices.
     
  84. Here, I lay this down, I need to go spew in another threads. Sorry dear.