Adventures in Trading with a Killer

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Hedge Fund Killer

Hello all. I have decided to start a trading journal.


What is the purpose of your journal?

First, I would like to make a contribution. Maybe others can learn from my thoughts and experiences. Second, rather than starting threads for all the various financial instruments that I trade, I would like to put it all under one thread. It is an efficient use of my time.

What financial instruments do you trade?

I trade futures on the E-mini S&P 500 Index (ES), Light Sweet Crude Oil (CL), and Copper (HG). In addition, I trade forex, namely USD/CAD, GBP/USD, and EUR/USD. From time to time, I will dabble in other financial instruments, such as the 30-Year U.S. Treasury Bond (ZB).
 
Hedge Fund Killer said:
I have decided to start a trading journal.

What financial instruments do you trade?
I trade futures on the E-mini S&P 500 Index (ES), Light Sweet Crude Oil (CL), and Copper (HG)
In addition, I trade forex, namely USD/CAD, GBP/USD, and EUR/USD
From time to time, I will dabble in other financial instruments, such as the 30-Year U.S. Treasury Bond (ZB)
More...

That's alot to trade and/or master. -- You need to truly master something in the market, and in life,...to truly reasonably expect to succeed fruitfully, realistically.

That's the great thing about the market...just trading, and mastering, one thing...can already make you rich. Less is truly more.
I, for instance, like to think I master the SPY/SPX daily broad market chart. That's the only thing I've been staring at everyday for the past eight years. Amplified results with leverage, options.

What time frame do you plan to trade all of those...day trades, overnight, swing, investments and/or a combination of those?
Each of these game time frame windows...each have their own set of unique dynamic and fixed variable parameters to consider.
2018 ET, o_O...all the best,
 
Last edited:
lawrence-lugar said:
That's alot to trade and/or master. -- You need to truly master something in the market, and in life,...to truly reasonably expect to succeed fruitfully, realistically.

That's the great thing about the market...just trading, and mastering, one thing...can already make you rich. Less is truly more.
I, for instance, like to think I master the SPY/SPX daily broad market chart. That's the only thing I've been staring at everyday for the past eight years. Amplified results with leverage, options.

What time frame do you plan to trade all of those...day trades, overnight, swing, investments and/or a combination of those?
Each of these game time frame windows...each have their own set of unique dynamic and fixed variable parameters to consider.
2018 ET, o_O...all the best,
More...

Isn't the SPY one of the most efficient instruments? How do you handle the situation when a big player suddenly shows up and moves the market in other direction? Stop loss?
Won't stop losses eat your profits over a long time?
What are your take profit targets and SL ?
 
Hedge Fund Killer said:
Hello all. I have decided to start a trading journal.


What is the purpose of your journal?

First, I would like to make a contribution. Maybe others can learn from my thoughts and experiences. Second, rather than starting threads for all the various financial instruments that I trade, I would like to put it all under one thread. It is an efficient use of my time.

What financial instruments do you trade?

I trade futures on the E-mini S&P 500 Index (ES), Light Sweet Crude Oil (CL), and Copper (HG). In addition, I trade forex, namely USD/CAD, GBP/USD, and EUR/USD. From time to time, I will dabble in other financial instruments, such as the 30-Year U.S. Treasury Bond (ZB).
More...

How long have you been trading?

I started trading forex in July 1995. After a couple of years, I added futures to my trading.


What is the time frame for your trades?

I am mostly a position trader.


What are the traits of a trader good enough to do this for a living?

In my opinion, he or she should have the following traits: patience, persistence, assiduousness, modesty, very good analytically, very disciplined, and some degree of intelligence.


What is your trading style?

I am a discretionary trader. I like using my mind rather than letting a computer make my decisions. I use both fundamental analysis and technical analysis. Mostly, I trade in the direction of fundamentals and use technicals to get a good entry point. For example, if I want to buy, then I want to buy as close to support as possible. If I want to sell, then I want to sell as close to resistance as possible. In addition, I also use trendlines and keep my own Elliot Wave count. Elliot Wave helps me evaluate the risk-to-reward of a trade. In addition, Elliot Wave helps me understand the wave patterns. As a result, I am better able to anticipate the price action.


Can you give us an example of your trading week?

My trading week starts on Sunday afternoon. I go through the charts of ES, CL, HG, USD/CAD, GBP/USD, and EUR/USD. I am evaluating them for the best risk-to-reward trade amongst each other. I consider the best one or two risk-to-reward trades for that day for me to get a good entry point. In addition, I monitor the winning trades that I am floating in the market. I update each chart with my Elliot Wave count. Lastly, I take notice of any economic data or speeches scheduled for that week. They might serve as a catalyst for a big move up or down. I repeat this process every afternoon from Sunday to Thursday. I also keep track of the fundamental data for each market.


Any advice for new futures or forex traders?

Yes. First, use stop loss orders. Too often I meet new traders who fail because they didn’t use stop loss orders. Furthermore, these stop loss orders need to be tight. For example, I place stop loss orders on my forex trades 15 to 25 pips away. Second, learn to evaluate risk-to-reward very well. Some times I see new traders risk $1 to make 25 cents. Evidently, they don’t know what they are doing or they are using the markets to gamble.
 
lawrence-lugar said:
That's alot to trade and/or master. -- You need to truly master something in the market, and in life,...to truly reasonably expect to succeed fruitfully, realistically.

That's the great thing about the market...just trading, and mastering, one thing...can already make you rich. Less is truly more.
I, for instance, like to think I master the SPY/SPX daily broad market chart. That's the only thing I've been staring at everyday for the past eight years. Amplified results with leverage, options.

What time frame do you plan to trade all of those...day trades, overnight, swing, investments and/or a combination of those?
Each of these game time frame windows...each have their own set of unique dynamic and fixed variable parameters to consider.
2018 ET, o_O...all the best,
More...

It is a good thing that I have read "Mastery: The Keys to Success and Long-Term Fulfillment" by George Leonard.
 
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