2014 [P&L journal]

masterm1ne

masterm1ne

2013 was my best year yet, though it was slightly down (-1k).

My trading account is currently around 30k. I continue to try to find a way to strengthen my edge. I believe the best opportunities arise when most people are in a lot of pain.

Protecting $ has clearly become rule number one, so finding low risk trades is important. However, this caused me to always give back the money I made because I always have more losing trades.

Here's to another solid year of pain prevention.

Previous threads:

2013
2012
2011
2010
 
This year, like I have done previously is make notes of what worked/failed in this journal. On my home computer I save pictures of trades and so far after looking through my trades so far this year I have done nothing but stupid willy-nilly shit.

When I came to my platform this AM I saw the typical downtrend developing on a 5 min chart. I also saw that we were trading around the top of a trend channel.

Short 3 contracts initially, which after the first downswing I should have taken 1/2 off.

I then added another 2 on a retracement to my entry point, as the downtrend was still intact, and several hanging men were developing. I was sweating oil at this point though as if the market popped above the peaks I would have gotten out.

The market fell hard and I scaled out of the position, taking 2 off at 2 points in 2 good bear legs into likely long stops, and then exited the final contract, which I should have held on to. No need to trade more.
 

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Every day is yesterday

Where else can you make $500 in 3 minutes?

I had to shit while the market started moving down, so I missed the initial move... probably would have made around $1k had I gotten in sooner because I would have opened 3 contracts.

Net liquid worth is 100k but I only dump 30k in my trading account so I'm well below 5% risk...

I live like a pauper because I'm a trader.
 

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Woes of a part time trader

Honestly really shitty trading. My original position was great, but I took it off too early.

I have to work a few night shifts so I got a great entry (stayed up all night) but I took it off way to damn early. I opened 5 initially, scalped 2, and took another 2 off when I had to go to bed. Retards leave positions on when they can't see price.

I exited the last contract upon a retracement to my entry which was above a previous swing high. As soon as the market turned back down I realized I made the wrong move as the market was trying to screw traders like me that were already short. This is why I try not to exit until the first peak in the downtrend is broken. Buying a seller's liquidation is a losers way of life.

A big problem is focusing on the small time frame for anything other than risk reduction. The market has risen 5 or so times back to my original entry price but I should already be done with several thousands. I'm over trading now so I'm fucking done.
 

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I realized I need to take back a sentence in that earlier paragraph;

The crux of my trading plan is buying into sellers liquidating....

Still haven't stopped crying about my 1160 short.
 
Same old same fucking retarded problem as last year.....

As soon as I scale up, I'm wrong. Not once but twice. I should have been wary of this as I had like 4 winning trades in a row, so it was time to lose. When the trend continues and I become a counter-trend trader unintentionally I get dumpstered. My plan tries to capture the initial moves in a trend. I followed my plan to the T and got shit on.

I almost lost more too. I had a short on at the open and exited for break even as after 2 losses even though I didn't think about it at the time, there is something wrong (trading counter trend).

Had I gotten out earlier, it would have been the same thing I did yesterday, and why I missed the 20 point sell of.

At least this is chump change.

I opened 5 contracts both times. So next trades will be 5 contracts. Maybe ten. I have to learn how to trade size or this won't ever be worth it.
 

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Last few trades have been during the night session which is tedious... a little harder to read price esp on RLM.

As always, cashed out early...
 

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No trades today too tired from work.. There was 1 trade I could have done for about 6 points x 5 contracts x 100 dollars per point (RLM).

For those struggling, try writing in a paper journal. There are studies that say you are 30% more likely to achieve your goals if you write them down with pen and paper rather than in a computer.
 
Quote from masterm1ne:

Same old same fucking retarded problem as last year.....

As soon as I scale up, I'm wrong. Not once but twice. I should have been wary of this as I had like 4 winning trades in a row, so it was time to lose. When the trend continues and I become a counter-trend trader unintentionally I get dumpstered. My plan tries to capture the initial moves in a trend. I followed my plan to the T and got shit on.

I almost lost more too. I had a short on at the open and exited for break even as after 2 losses even though I didn't think about it at the time, there is something wrong (trading counter trend).

Had I gotten out earlier, it would have been the same thing I did yesterday, and why I missed the 20 point sell of.

At least this is chump change.

I opened 5 contracts both times. So next trades will be 5 contracts. Maybe ten. I have to learn how to trade size or this won't ever be worth it.
More...

Are you doing journal in hopes you will discover insights on trading well or wanting advise from peanut gallery? If it is the first and you lost a grand trading all last year and haven't changed or tossed those methods totally away, guess what this year will bring? Right off the bat, if you not making money every single week based on a one lot, cut back to a one lot, you have to know how to take baby steps before you can wear adult shoes.

Could'a should's would'a, I hear this hundreds of times from those who have no control of themselves. Really, who cares what happens after you are out of a trade, it is called acceptance. I don't have any feeling when I watch market go in same direction after I am out, I start "reading" the chart, what is chart saying, is it stalling, how far has it gone from last major pivot, what is the ave swing, what is ave daily range, how close are we to each, if price is near extreme of either, any trend trade will have so much more risk than the start of the trend, often times best to avoid this trade altogether and look for a failure to do counter-trend.

Have you checked out last 1000 winning trades? You want to mimic them, what do the majority of them tell you? Break down trades as far as where in the swing were they put on? Bottom third, middle or last? I always tried to capture 90% of winners as far as risk or how much trade went against me so I know how much to risk. I constantly work on lowering my losing percentages, get it down low enough, have a more pleasant equity curve.
 
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