My Experimental Trading Life

Discussion in 'Journals' started by ToBeMyself, May 17, 2010.

  1. BOT 1 K200@211.70
    STOP @211.50
     
    #11     May 19, 2010
  2. Stopped out
     
    #12     May 19, 2010
  3. BOT 1 K200@211.95
    Stop @211.75
     
    #13     May 19, 2010
  4. SLD 1 K200@212.25
     
    #14     May 19, 2010
  5. SLD@113.50
     
    #15     May 19, 2010
  6. Enough for today.
     
    #16     May 19, 2010
  7. Some thoughts:

    i) have you worked on a risk management approach? 54% is about 5 times bigger than what your drawdowns should be. As a less experienced trader, and part-time, you should not be having drawdowns more than about 10%. So it sounds like in 2008 you were trading about 5 times too big.

    ii) One good year isn't enough to justify quitting a secure job IMO. I would look for more consistency - 3 profitable years, with at least 2 of them being good years, not just small profits.

    iii) I like the idea of the split accounts. Demo account for real-time testing, live account for proven strategies. Good plan.
     
    #17     May 19, 2010
  8. SLD 1 ES JUN10 Futures 1079.25 USD GLOBEX 12:34:32
    BOT 1 ES JUN10 Futures 1080.50 USD GLOBEX 12:37:55
    SLD 1 ES JUN10 Futures 1080.50 USD GLOBEX 12:38:09
    BOT 1 ES JUN10 Futures 1081.50 USD GLOBEX 12:38:51
    SLD 1 ES JUN10 Futures 1081.50 USD GLOBEX 12:38:57
    BOT 1 ES JUN10 Futures 1079.25 USD GLOBEX 12:47:50
    SLD 1 ES JUN10 Futures 1078.75 USD GLOBEX 12:50:13
    BOT 1 ES JUN10 Futures 1076.75 USD GLOBEX 12:51:44

    P/L +2 pts
     
    #18     May 20, 2010
  9. Thanks for your kind input.

    Yes, you're right that 54% loss is way too big. Lesson is learned. Everyday, I remind myself not repeating the same mistake.

    I always ask myself: what makes trading so tough?
     
    #19     May 20, 2010
  10. Hi there,

    I'll be watching your thread with great interest, I am doing a similar thing trading futures at night and when I can during the day.

    Its a good way to build confidence before taking a stab full time.

    When taking profits are you using a protective stop once you hit your target and letting the winner run at all or are you just looking to scalp a few points daily?

    Good idea to work with just one contract for now as you are doing.

    Good trading to you.
     
    #20     May 20, 2010