I will be starting a daily trading journal. Updates will be made at the close of business. I am a futures trader that focuses on trend and scalp trading the YM. I will be trading only 1 contract and scaling up with time. This is more of a gut check for me, comments are welcome. Thanks - Jeff Magers
March 10, 2011 Account:$2501 Market: YM Contracts: 1 - 2 Daily Max Draw down: 3% Daily Profit Target: 2% Strategy: Simple trend following and some scalping Chart: 16 Range bars Indicators: MACD, RSI, Bollinger Bands, HLOD, Daily Pivots Simulated Live: Short 2 lots at the open 12080 +$100 Short 1 lot at the first retrace 12048 +$75 2% Profit target of $50 hit. Done trading for the day. Happy Trader
Check cleared will be ready to go live next week. Balance 2501 3/11/11 Simulated Live Long one Lot at the open: 11885 Sold 11895 +50 Long one Lot at 1250: 11948 Sold 11956 +40 2% Target Surpassed for the day. Done trading. Happy Trader
Cool. How many months have you been on sim? Were you profitable? Do you have a thoroughly thought out , detailed, and tested plan? Looking forward to reading, Best Wishes
Thanks for the kind words. I have been trading the eminis for several years but never with a plan. I alternate from live trading to sim trading a few times a year. Testing out strategies. This time I have hard and fast rules and set ups. I will be slow but steady and consistent. Jeff
March 14, 2011 Account:$2501 Market: YM Contracts: 1 Daily Max Draw down: 3% Daily Profit Target: 2% Strategy: Simple trend following and some scalping Chart: 16 Range bars Indicators: MACD, RSI, Bollinger Bands, HLOD, Daily Pivots First day of live trading. 10:37am Short at 11895 cover 11885 +$50 2% Profit target hit for the day. Done trading today.
Account:$2546 Market: YM Contracts: 1 Daily Max Draw down: 3% Daily Profit Target: 2% Strategy: Simple trend following and some scalping Chart: 16 Range bars Indicators: MACD, RSI, Bollinger Bands, Daily Pivots Live trading day 2 7:01am Long at 11687 Sold 11697 +$50 2% Profit target hit for the day. Done trading today.
Live trading day 3 Account:$2591 Market: YM Contracts: 1 Max daily trades: 5 Daily Max Draw down: 3% Daily Profit Target: 2% Strategy: Simple trend following and some scalping Chart: 16 Range bars Indicators: MACD, RSI, Bollinger Bands, Daily Pivots 1 Short 11699 at BB Trend Cover 11714 at hard stop -75 2 Short 11725 at BB Trend Cover 11700 at BB break away +125 3 Short 11660 at BB trend Cover 11631 at BB break away +145 2% Profit target EXCEEDED for the day. Done trading today. Gross PnL today:+195 Net PnL today: +180 Emotions ran high on trade 1, price slipped almost immediately. Calm and collected on trades 2 and 3.
Live trading day 4 Account:$2771 Market: YM Contracts: 1 Max daily trades: 5 Daily Max Draw down: 3% Daily Profit Target: 2% Strategy: Simple trend following and some scalping Chart: 16 Range bars Indicators: MACD, RSI, Bollinger Bands, Daily Pivots 1 Short 11655 Cover 1165 - 100 2 Short 11673 Cover 11687 - 75 Should have stopped for the day. Loss > 3% 3 Buy 11697 Sell 11717 + 100 Recovered some losses but total losses > 3% 4 Buy 11723 Sell 11702 - 105 Over-trading at this point and shut platform down. 5 Sell 11705 Cover 11709 - 20 Hard Stop Triggered and locked out. Done trading for the day. Gross PnL today:- 205 Net PnL today: -230 Trades 1,2 were impulse trades. Trade 3 was a set up. Trades 4,5 were impulse trades.
-275 trying out the TF.... Mistake Will go back to original YM strategy and plan on Monday. Have a good weekend.