29 turning 30. 11 years of trading. First profiting year Journal 1

[wrbtrader]

Yer doing great, scaling up. Keep at it. And if you have a huge losing day you'll realize how legal it all is.

For some... it's a losing trading month. For others, it's a losing trading week or day. Then there's those that have a losing trade after consecutive winning trades to remind them someone else out there can take their money away just as fast as you took it away from others.

The good thing...when the win streak is broken...he'll have the confidence to start a new win streak. More importantly, he'll be able to shrug off and trade losses, bad trades whenever they show up.

wrbtrader

 

[Overnight]

...to remind them someone else out there can take their money away just as fast as you took it away from others.
...

This is an idea I can never condone, and simply do not agree with. Technically, yes, there is another entity taking your trade. But you do not know if they are opening a fresh new position, or closing a losing or winning position on their end. ESPECIALLY when it comes to futures like NG.

It helps me, at least, to not think I am against another person, but rather that I am simply trading the ladder.

 

[wrbtrader]

This is an idea I can never condone, and simply do not agree with. Technically, yes, there is another entity taking your trade. But you do not know if they are opening a fresh new position, or closing a losing or winning position on their end. ESPECIALLY when it comes to futures like NG.

It helps me, at least, to not think I am against another person, but rather that I am simply trading the ladder.

Everybody is different. I do not need to know what they are doing (e.g. new position, losing or whatever)...I just need to know that they are there because I know I'm not the only one trading.

Anyways, some need to feel like they're trading the ladder or DOM as in they need to outsmart it. In contrast, others need to feel like there's someone on the other side of their trades that wants to take away their hard-earned money.

Then there's some that think they are trading against their broker...this group will have problems in blaming anything for trade losses such as their trade execution platform.

I can't remember how wabu27 viewed the markets in the past and we'll soon know how he views the markets now because people's trading does evolve.

P.S. I understand that market depth / ladder / DOM traders view the markets differently than chart traders.

wrbtrader

 

[Overnight]

...

Anyways, some need to feel like they're trading the ladder or DOM as in they need to outsmart it. In contrast, others need to feel like there's someone on the other side of their trades that wants to take away their hard-earned money.

Then there's some that think they are trading against their broker...this group will have problems in blaming anything for trade losses such as their trade execution platform...

This is how I view the trading ladder, and how I think of a limit order.

You ain't getting past it. No need to worry about people, or algos, or brokers or platforms.

 

[wrbtrader]

This is how I view the trading ladder, and how I think of a limit order.

You ain't getting past it. No need to worry about people, or algos, or brokers or platforms.

Algos control everything regardless if someone is viewing the markets via the ladder or the charts. Algos are the borg.

Resistance is Futile

wrbtrader

 

[wabu27]

8/3/2021 -$2778
Didnt trade in the morning. In the afternoon after the NG sudden rise, I thought it was a fake and it would go down so I shorted. Made $1000. Didn't exit because I thought it would go down a lot more so doubled my position. NG went the other way. I guess I only feel uneasy when I make money because I'm so used to losing money, I'm down 3K, which is a big deal, but I don't feel that bad. I'm tainted..

I just couldn't exit or didn't exit when my trade was going the other way because it looked like such a fake rise. I believe the downward trend is starting, or has started already. We'll see tomorrow and NG report on thursday which would give a clearer picture. Decided to hold my position overnight because I believe this is going down. Also told my friend to buy KOLD so she is in for a couple thousand.

 

[wabu27]

-

Just checked to see that BOIL and KOLD are 2x ETF and inverse ETF funds that track natural gas.

I swing-trade several futures markets and have traded natural gas futures in the past. Do the ETFs offer particular advantages over trading natural gas futures?

I use the ETFs as a guide. It only shows movement during open hours unlike NG futures chart which shows the whole 24 hrs. I think just seeing open hour movements give a easier sense of the direction of NG, the momentum buildup, and during open market hours it is easier to spot a "fake" movement in the ETF charts than in the NG charts. By comparing the two, it is also easier to spot "fake" movements in the NG futures chart. I tried just trading off of NG futures chart and I wasn't having a good entry/exit points but with ETF charts, my entry/exits are a lot of accurate with what I'm trying to do (predict).

 

[hilmy83]

8/3/2021 -$2778
Didnt trade in the morning. In the afternoon after the NG sudden rise, I thought it was a fake and it would go down so I shorted. Made $1000. Didn't exit because I thought it would go down a lot more so doubled my position. NG went the other way. I guess I only feel uneasy when I make money because I'm so used to losing money, I'm down 3K, which is a big deal, but I don't feel that bad. I'm tainted..

I just couldn't exit or didn't exit when my trade was going the other way because it looked like such a fake rise. I believe the downward trend is starting, or has started already. We'll see tomorrow and NG report on thursday which would give a clearer picture. Decided to hold my position overnight because I believe this is going down. Also told my friend to buy KOLD so she is in for a couple thousand.

what's that -2800 in % terms? is that based on the 30k account you posted? so about 10%??

 

[wabu27]

8/4 -$7098

Dang. I saw NG could start higher but i was expecting it to start higher and go steadily down. Thought overnight if I should cut my position in half but I was like whatever, let's just go with it. Well that small thought ruined me today.. this is why you never go all in all the time. Sigh.. Well I still think it's starting a downhill trend. If it shoots up again tomorrow after the NG report, that's when I'll call GG. Not too worried for now, but after tomorrow I might be.

 

[wrbtrader]

8/4 -$7098

Dang. I saw NG could start higher but i was expecting it to start higher and go steadily down. Thought overnight if I should cut my position in half but I was like whatever, let's just go with it. Well that small thought ruined me today.. this is why you never go all in all the time. Sigh.. Well I still think it's starting a downhill trend. If it shoots up again tomorrow after the NG report, that's when I'll call GG. Not too worried for now, but after tomorrow I might be.

That's too big of a daily hit on your account size.

• I'm curious what is your risk management ?

• Has your risk management changed during the recent two losing trading days in comparison to what you were doing during your win streak ?

wrbtrader