CL Journal

Buy1Sell2 said:
Current Journal Tally---
2 trades. 0 winners, 2 losers
Net loss 2.67 plus 2 commissions.
More...

You stated on the ES thread that your risk is the same on all positions as a % of your account. Your stop width thereby dictates your size i.e a 1Pt stop will be a larger position then one with a 2 pt stop. Why would you abandon that for this thread? And honestly, crude oil requires 10 times better risk management then ES. It's asinine to trade the same number of contracts in CL with different stop levels. Just one man's opinion...
 
Maverick74 said:
You stated on the ES thread that your risk is the same on all positions as a % of your account.
More...
No. I never risk more than 2 percent of Total Liquid Net Worth on any one trade or idea. That doesn't mean I am risking the full 2 percent each time. There are lots of stop levels that keep me inside the 2 percent number with the same number of contracts.
 
Buy1Sell2 said:
No. I never risk more than 2 percent of Total Liquid Net Worth on any one trade or idea. That doesn't mean I am risking the full 2 percent each time. There are lots of stop levels that keep me inside the 2 percent number with the same number of contracts.
More...

Fair enough. I recall you mentioning some formula you use to determine the # of contracts based on the size of your stop.
 
Maverick74 said:
Bottom picking is a terrible way to make a living.

BTW, he is still negative on this journal. His last position had a $4 stop (smaller position then the first two). He lost 2% then another 2% and by the distance of his stop, he is only up 2% so far on this one. He is still down.
More...

@Maverick74 I consider bottom picking quite a lucrative endeavor as the sharper the drop in an index towards a weighted support the less the risk vs reward, which is key to sustain a positive equity curve. Could you possibly post more regarding your opinion on this being a net negative exercise? Thanks.
 
Hats off to anyone willing to keep a journal, and openly sharing/reflecting on winners, losers. Everyone has their individual reasons to share, reflect, or not. The best part is... if you think you can do better - then you are welcome to do so (or at least try). If you don't buy any of the BS, you are free to go elsewhere. A few years ago, one of the most profound traders in the business shared live footage of his trades in real-time...

No one believed it to be true, yet he was remarkably profitably beyond most comprehension. He was accused of paper trading - observers even debated whether the color of the DOM revealed paper vs. live mode. Yet if one is that crazy profitable at paper trading, why wouldn't one settle for even half the profits with real dough? To this day, no one knows for sure if this guy's profits were real - he can only answer to himself, and he owes no one an explanation. Let the markets decide.

Crude is screwed, man.
 
You must log in or register to reply here.
Back
Top