Is this par...

Discussion in 'Trading' started by Luto, Mar 17, 2004.

  1. Luto


    I have been trading NQ for about 1 year. From March of last year till the end of the year according to my year end statement I have made a total of 394 trades (1 contract) and have lost $100.00 (5 points) and paid about 1900.00 in commissions. Previous to march were paper trades.

    I have gone through a lot of growth which has been enjoyable, and finally settled on a system I designed, like and trust. Currently it generates about 0-6 trades a day. For instance today I got one signal and took it. I have a cool journal system, a good MM system. Most of all I have good process improvement method (i.e. easy to generate metrics for evaluation and a correction process.)

    Currently it is very easy to wait for a signal and get an entry. Trading for me is fun and I look forward to it everyday.

    The current task is getting better at the exits (Stops and exits). For the year I am slightly above even including comms. Time is on my side as I am not pressed for $$$ nor am I undercapitalized. (Which might actually be a problem, Re: lack of hunger)

    To the SENIOR traders, how does this look for a first year? Regardless of profitability, I am pleased and will continue to trade regardless of any "comments". I am very optimistic for this year to be profitable, with of course the usual setbacks.


    PS: to any would be detractors, don't bother wasting your time. :p
  2. You are doing great !, You have a discipline to not overtrade, MM in place, no financial pressure and you seem to understand that you are responsible for your results.
    Now I have a question: Why do you trade NQ ? This is not an easiest market to trade . Try your method on Bonds, Notes or DOW .
    Maybe there is better profitability for your method . Your method is not generating enough in NQ .
  3. prox


    Very good, I think I lost about 22k my first year and it could have been worse.
  4. Luto


    Umm, Slight blush, I have not really thought of trading anything else because wanted to cut my teeth on one market first and not blow up. LoL

    I certainly, now at least, can do the usual due dillegence. Thanks for the question.

    Just to be on the same page you are refering to the CBOT products.

    2 year note (TU)
    5 year Bill (FM)
    10 year Bill (TY)
    30 years (US)

    All the full size and not the mini, which appear to be illiquid.

  5. Luto


    Prox, thanks for the reply.

    This is my NQ adventure. Which I consider the real start of my trading career because that is when I started daytrading in a serious manner. I have some monsterous losses (dollar wise)from the bubble, but thank goodness they are only about 10-15% of my over all gains during the same period. Those losses are probably one of my biggest mental issues (having gains and losing them). I can make a lot before I am going to be paying any taxes. smiling but not roflmao:p
  6. abogdan


    Hi there. If I had my first year similar to yours I'd be beside myself! You have no idea how well you've done! Example: 13 years ago in the first four months of my trading I've lost $55,000 that I did not have! It took me 4 years to pay it back! If what you are telling us is the truth then you are probably one of the most successful traders I've ever come across. Keep it up and don't get cocky!
  7. Luto


    As for getting cocky, I have had several bouts of that. I can't say that I won't go there again, but I can say I have been there and done that. In an effort to avoid it I try to say un emotional as the proverbial monk about winning trades.

    Unfortunately I can understand one might have "doubt". Frankly there is some pretty wacky stuff on this forum. So wacky that it seems like "shock Talk shows" for forums some times.

    Anyways enclosed is a CSV file of my IB account, in an effort to keep things on track. Not to "prove anything" because theoretically one could create such a thing, but if a person thinks I did (not you of course), then I would pity them. (Excel format was too big at 135Kb) Kinda hard to read, but the very bottom has the totals.

    Cheers :p

    PS: On some level I did lie, It starts in Mid Feb not March:p
  8. Luto,

    You should consider trading 10 year notes (ZN) or currencies. Equity futures tend to lend themselves to very short term trading (especially during the last year). For trading as infrequently as you do, trading in a market that is more trendy and less whippy could prove very profitable.

    P.S. The longer the length of time, the more price movement there will be for Treasuries. However, the 30 year bond has lost a lot of liquidity after the Government stopped issuing the 30 year. That is why I recommended the 10 year note. For currencies, look to the majors, especially the Euro/USD.
  9. Luto


    Hmm attachment was lost, but here it is...
    40.90% 50.86% -5.88% -
    Q1 Performance
    available after 04/01/2004

    My ytd performance summary
    #10     Mar 17, 2004