Twenty-twelve [P&L]

Discussion in 'Journals' started by masterm1ne, Dec 29, 2011.

  1. Previous threads:

    2010 trading thread

    2011 trading thread

    I've obviously decided to keep a journal for 2012. I am a firm believer that it is almost mandatory in order to achieve success, no matter the business, but especially in this one where psychology is so important. A journal helps you reflect on your past actions and learn from your mistakes, which of course will help you fix them.

    I added another 14k to the account. Therefore, this years starting balance is 24k. I think this amount is ample to create astounding returns, regardless of the strategy. I proved this to myself from the previous year. Of course you have to do it 'right.'

    To recap, I blew everything I had in 2010, and since June of 2011, I have pretty much bounced between small draw-downs and +100% returns. The issue is not with my method, but rather lapse of discipline.

    Just as trading is simple, I try to keep my approach as such. I use 1 edge to help guide my commodity trades. I also examine additional indicators such as put/call ratios and money flows when thinking about index trades, but I calculate them myself, hopefully to increase the edge. I have become a very big chartist. It's the only thing that makes and takes your money!

    I try to stay flexible in my approach, and have stayed away from automated trading because I feel it's too rigid (I am a programmer). Above that, it's not necessary to win.

    I have a trading plan written down, place my trades at my discretion, and look at the markets as little as possible. This helps keep the mind clear and emotions out. I only trade futures at the moment. Perhaps when I have more money I'll start trading stocks and Forex. I've become a longer term player, as it suits my personality and time better. I see huge potential in waiting out long term movements. I have derived much of my methods from many of the great documented traders. Hopefully I can continue to implement risk management and capital preservation over all.

    I'm in this for the money obviously, but also to liberate my time. I'm 24 years old, have a full time job, and have studied the markets for over 3 years. I've read more books about trading than I ever did on any other subject in school.

    Good luck everyone.
  2. Hasn't been much to post. Account is hanging around the 25k mark. Since Monday, P&L has been swinging between +500 to +3k.

    I've got positions in natural gas, cocoa, cotton, coffee and e-mini S&P 500.
  3. Still here... I've been spinning my wheels leveraging all the $24,000 I have and am getting no where. I'll cut size down to one till I can gain some traction.
  4. @ 21k (-12.5%)

    No mistakes, no laspes in discipline, just more dirt than gold. Losing like a f***ing champ!

    I've started to exercise discipline in other areas of my life to help cure the previous lapses I've had. It helps.
  5. @ 23k (-4.16%)

    Fully leveraged on 5 differen't instruments. Risk is controlled, but most likely too much for my account size.
  6. @ $25,758 (+7.32%)

    5 open positions
  7. @ $25,422 (+5.92%)

    6 open positions
  8. @ $30k (+25%)

  9. Good job. My only concern is your % draw down for your account size. A few bad losses in a row could cripple you.

    -Just curious, what sort of methodology are you using? You don't have to go into specifics. But is it price action, fundamental, indicator, mechanical etc?
  10. In order to get good returns, you must have risk... no matter the investment.

    I use price action mainly in combination with 1-2 market indicators to tell me the direction to expect. No fundamentals, no technical indicators (price/volume based), nothing mechanical. That stuff never made me any money...
    #10     Jan 25, 2012