If you are one of those types who look in the mirror every morning when you wake up, then print the above I have quoted onto a strip of paper, and post it there. And post it on the toilet. And post it in the kitchen. And post it all over your house. Jesus. And loop the B-52s through your audio system too. (Well, not really, lol)
9/4/2019 ============= Realized gains: GC: $122 MGC: $275 Lean Hog Futures(Oct): -$693 NG: $314 MNQ: $19 NQ: $28 =============== Total Realized Gains: $65 I was stuck in HE Oct futures yesterday limit up. The drama details is here: https://www.elitetrader.com/et/threads/stuck-limit-up.335656/page-8 Got out at the open and took a loss of -$693. Had a wait just a little longer, I would have made money. Anyhow, I'm glad I made money on EVERY SINGLE instruments I traded today besides the loss in HE. Actually, I thought about reversing and going long on HE. If I had I would have been up today too. Without that stupid limit up loss on HE, I would have net $758. Yesterday same thing too. Up $700+ without the HE hedge loss in Dec futures. So, without too much effort, I can bang out $700 to $1000. Had I not been stuck in HE trades I would have continued to focus on other trades and get back to my average $1000/day. Today, I had non-trading meeting to attend. I missed out on a MASSIVE UP move with NG. That would have put in me the range of $2K-$4K. Oh well. Lesson learned: Avoid stupid trades so you can capitalize on good trades. Also, I'm not afraid to trade NQ, GC, MGC, and MNQ. Steadily building up my confidence before I really scale up. ======================= P.S. Last night I thought I would be totally blown into pieces with another limit up today. Took the loss at the open of $700. Could have been more patient and exit at a profit. Climbed all the way back positive. Not much but it's a green day. Helps my daily stats. haha. Despite yesterday's loss in HE, I was net net down only $85 and change. I should have scalped my way back to positive so that I can have good stats. Need to keep up that 70%-80% positive days. Plus with my other longer term stuff, my MTM P&L for this particular account is at new highs. Not bad considering I imagined the worse last night and took 2 big losses on HE.
*rubs temples* You are not listening. See the bolded bit? NG is your Mary. Or should I say, you are Mary to NG. It is calling out to you.
You're still focusing on the short-term gains of the lucky shots at the instruments that you cannot handle, the gold products, without realizing that your bread and butter, the NG, is giving you the consistent gains. Stop fucking with gold products, because they are going to bite you in the ass again, and you will be right back to complaining about them. Stick with what you trade well. Which is NG. Resist the temptation to trade other bits until you understand them as well as you understand NG. Q4 is coming up, and if history is any guide, this one could be a doozy. Remember last year's Q4? Well, watch out this year, because Trump is on a tear.
There's really nothing stopping me from banging out thousands a day in NG. I just need to build up the confidence to do that.
Well, that's all good in theory. In practice, it's not that simple. Sometimes the set-ups aren't there. The reason why I basically make money every single day in NG is I'm very cautious and careful. I wait for the exact setups. Sometimes it's not there. I have to wait longer. That's why I need to supplement with the other instruments. My cautiousness in NG just saved me potentially hundreds or thousands in losses. I was about to enter then I noticed the pattern is not very clean. Then a second later it dropped like 25 pts. lol
yeah. i just like to say points when I mean ticks. It's totally choppy and directionless today. Yesterday was a HUGE UP MOVE but unfortunately I was in a non-trading meeting I had to attend. But usually after a big up day it's choppy the next. And Thursdays are announcement day. I usually wait after the announcement to do any major trades. News can swing things around a lot. P.S. Announcement. Dropped 30 ticks just now. Glad I didn't get in yet. wait for the dust to settle...