empee's blow-out journal

Discussion in 'Journals' started by empee, Jun 14, 2006.

  1. empee



    I have a small account with $18k in it so I decided to trade it aggressively because I'm bored.

    This is NOT my main account so I decided to try trading it aggressively.

    The basic problem with this approach is because I will be plunging I face two major challenges:

    1) Do I get blown up on a single event?

    2) I get chopped up on trend-trades that are consolidations (ie usually it takes 2-3 trades to determine a trend has disappeared, so I end up eating up a lot of capital).

    I will be trading pretty much everything,
    mostly things with high leverage.

    If my account gets bigger, I may not plunge as much.

    I will continue to post if I am bored/I don't blow this account out.

    I prefer very tight stops with good Risk/Reward ratios so I stop out alot

    I don't have a goal, I'll just try and do the best I can.

    Because I only have $18k in the account, I can only really trade futures until I get the equity above $25k.
  2. empee


    The first trade of this account was posted in another thread on ET. I plunged and sold 7 August QM (Crude Oil) at 72.45 with an initial stop of 72.775. Stop is now at breakeven.

    I plunged because I thought there is a longer-term trend reversal here, and failure crude to follow-thru/breakout on the hurricane in the gulf.
  3. empee


    I will be using various strategies including statistical arbitrage, fading extreme moves, trend following, spreads, etc.
  4. empee


    Oil moved in direction giving me some additional firepower.

    Have a buy stop in 6eu6 (EUR/USD) at 1.2608 for 2 contracts long (looking to fade it if they run the stops there)

    Also looking to put on a GOOG put spread at the open or in the first 15mins, but I prob wont be around. If I get it, the stop will be within $3.
  5. empee


    I primarily swing trade so this is not a scalper journal btw. This is primarily because I'm not around and I think scalping is a waste of time in low volatility environments.

    I may have no position for weeks/months if there is no trend (which is common)
  6. empee


  7. empee


    my reason for wanting to short goog is becuase it gapped up this AM and sold off, then in the PM was unable to breakout, this means there is someone with size or without time that is trying to get out IMHO

    Risk/Reward is good too
  8. empee


    I wanted to test some new opening strats so I traded ER2 this morning 2 contracts (wanted to simulate two lots);

    1 trade out -$150
    2nd trade out +$300 and +$400 on the second lot.

    net +$550 for the day.
  9. empee


    Bought GOOG July 390 put for 1650 (1)

    Look at the topping formation, rejection off 50, feels very heavy I think there is a hidden seller here looking for thrusts to 340 to test.
  10. empee


    traded the opening with 2 lots on ER2

    Out -$30 for total for 2 lots
    #10     Jun 21, 2006