Trading Diary to the End of 2013

tradingjournals · Nov 18, 2013

Quote from Visaria:

Thanks for your post. Atm, I'm definitely looking for discipline in my trading rather than than a "better" method. I appreciate others may not be able to help much in this regard.

Interesting you mention "more successful" systems /methods. I was at a small gathering of hedge fund managers and the like last week, who incidentally are all losing money for the year . Someone stated it wasn't the method used that was "broken" or didn't work; it was more the markets were broken in that they didn't lend themselves to the methods being applied. For example, if you have a trend following system but you apply it to markets that don't really trend well (historically), then can you really blame the method if the results are no good? Sounds obvious and i already knew this, but did did serve as a reminder.
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Congratulations on your Journal! Is this real money? Is it ok to ask more about the gathering? Could I suggest that you post charts? You stopped by my thread, and I felt that you may have excellent discipline. You also seemed to me to be very organized.

I wish you the best of luck!

Visaria · Nov 19, 2013

Went flying in my plane this morning over the beautiful English countryside. Fairly clear day, but very cold. Came back and for some reason, i was exhausted. Went to sleep.

Woke up, found i was stopped out of that coffee trade

-$1320

Next did a Dec Nikkei trade:

long 15210, out 15265

+$1500

Currently short Dec NG at 3611

Visaria · Nov 19, 2013

Quote from NoDoji:

Even as a swing trader, this can work out fine in a strong trend (like the ES has been in), but there needs to be a pullback first to flush out the speculators and draw in the counter-trend traders. When you bought near the highs today, price already had run up through the 74.50 high from last week's pullback and this morning was near an upper channel.

Like with CL as a day trader, if I'm not positioned during a pullback in a trend, I'm quite content to buy a new high or sell a new low, but price has to come from a technical S/R level or I won't trade the pure breakout. Either way, I then expect that breakout level to hold as new S/R in the trend or I'll take the small loss.

I think that concept of trading new highs/lows only after price has pulled back to a reasonable technical S/R level might make all the difference for you. I suggest you analyze your trades and see if that would've helped
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NoDoji, i reread this and found it v much to my liking. I would have to test it out, make observations. Probably wouldn't go use it before the New Year. One question, which i may have asked before, what do you do if no pullback?

Visaria · Nov 19, 2013

Quote from Handle123:

Without knowing what it is your doing and you trading several markets at once? and you are trading with/against the trend, but coffee in BIG downtrend? Has this method worked for you in past years and which ones? Reason I ask, depending on changes of overall market volatility, some methods only work in one type of environment.
How many years had you backtested?

What other people do makes little difference to me, markets are never wrong, and I never try to beat the market.

If you are losing 70% of the time, how about hedging with options?

Are you looking to stay in more than minutes/hours/days?
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I have backtested many years ago the basic system that i was using then. I am now using a far more discretionary version of the system.

You are absolutely right re volatility. The vol in ES dropped off in late 2002 iirc and at the same time i started having less stellar results than i had enjoyed up to that point. I realised however it was not only volatility but in particular MFE that had worsened. So i switched to different markets and started using filters with better results.

Visaria · Nov 19, 2013

Quote from tradingjournals:

Congratulations on your Journal! Is this real money? Is it ok to ask more about the gathering? Could I suggest that you post charts? You stopped by my thread, and I felt that you may have excellent discipline. You also seemed to me to be very organized.

I wish you the best of luck!
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Thanks, but the journal's purpose is not really to discuss specific trades. More of a tool for me to see what I'm doing, keep me from doing marginal trades. How? Well, I am committed to putting all my trades on here, so it would be shameful to do marginal trades and then have to admit to it.

I was pleased with my trades yesterday bar the intraday CL one which i exited half on a panic.

I have also noticed something else, which u guys should also pick up on, profits about the same (or less) as losses. Clearly an issue.

billyjoerob · Nov 19, 2013

what would you describe as your edge? what is the strategy?

NoDoji · Nov 19, 2013

Quote from Visaria:

NoDoji, i reread this and found it v much to my liking. I would have to test it out, make observations. Probably wouldn't go use it before the New Year. One question, which i may have asked before, what do you do if no pullback?
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If I miss the proper pullback entry and the breakout is strong, I look for pullbacks on a smaller chart (for my intraday trading that would be the 1-min chart, based on the 5-min price action environment). Otherwise, I accept that I missed out and I wait for the next clean setup.

Visaria · Nov 20, 2013

Thanks, NoDoji I suspected as much, that the trade would have to be missed, which is fine, plenty of trades anyway!

Visaria · Nov 20, 2013

My short on Natural Gas was a few ticks shy of target, unfortunately it has rebounded sharply and i am losing on it now.

Visaria · Nov 20, 2013

went long Jan CL at 9412