...And They Have a Plan. (Live.)

Overnight

Overnight


K, here we go with my journal. I was going to hold off on this for a bit longer, but I ain't getting younger and I am in a good place tonight to show demonstrably what I be doing, with what I would like to show for the future, in futures.

This journal will have lots of silliness from me (like the above video), and I am VERY sure it will have lots of needless banter through its duration from some of y'all. But that is OK. That is the point. I need feedback, whether it is vitriolic or complimentary. No worries.

Futures only. At this time, it is WTI only (CL on NYMEX).

Preamble..."How do I make money in a market when I have X amount of money to trade"?

Trade what you can with what you have.

"How do I know what I can trade with what I have?"

AHA! Aye, there's the rub.
------------------------------------

The current summary, live, and all the trades that transpired in that time in a list.


ForETreal4TSsum.PNG
ForETreal4TS.PNG


This last one is the real key. It shows the maximum potential I will realize if I close all positions right now. Max loss is locked in at ~$700.

ForETreal4MA.PNG


So here is the real trick. When to close the profitable trades and let the losers recover? How far can it go? Or should I close it all now?

Well, here is my signpost.


ForETreal4fib.PNG

So how to follow the fib with my open positions. Where do I exit? Exiting is just as important as entering. This is what I face every day in my trading. And this week is going to suck balls, because as you can see, I am spread a bit thin awaiting the inventory numbers. And I am running out of contract months to mitigate the risk!
 
Last edited by a moderator:
Have you developed a spread legging technique with NT? I need to suspend disbelief!

Can we have a general overview and rationale for the method?

Thanks.
 
xandman said:
Have you developed a spread legging technique with NT? I need to suspend disbelief!

Can we have a general overview and rationale for the method?

Thanks.
More...

The platform doesn't matter. It just happens to be the one I use, and so those are the charts that I post. They are easiest on my eyes with Unirenko variants.

The rationale is very basic. Almost too basic.

What goes down must come up, and vice-versa. So I have been studying that fibbo. That bloody darn fibbo. It is uncanny how when you find a good cycle, it invariably pulls back to 50% of the previous cycle. What I am trying to do here is capture the best of both worlds. Get in on a cycle point, counter it in case I am wrong, and then profit when it goes right but mitigate the risk if I am wrong on the other side of it. Does this make sense?
 
You must log in or register to reply here.
Back
Top