FastTrader Futures-Trading Journal

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Thanks for your thoughts, but as I've mentioned before, capital is not the issue. I'm not bound by the PDT rule (hint: my acct is over $30K). I've traded stocks, options and futures and from what I've seen, all of them require proper analysis and execution, but if you're good, the biggest payoff is in the futures market due to the leverage and massive liquidity. So, if I'm going to work at this and put in the time/effort to learn trading, I'd rather do it in the futures market. I appreciate your suggestion to move to a different market, but I will be sticking with futures; primarily ES.


When your right ......YOUR right...... nothing more to say...I agree with your thinking..... Fast.

Michael B.
 
Quote from peg_leg_joe:



Fast, ignore 95% of what you read on ET. Find your own path, brother. Good luck and prosperity to you.

PEG LEG JOE
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so true, find your own path. I used to lurk around chat rooms, message boards, etc. in hopes of learning from others. I realized all those mediums are only for entertainment.
 
Daxtrader, I was in the ET chat room this morning, and had a pretty good time. There wasn't much talk about the market, but we did have some discussion on the more important things like food, sex and politics :D

-Fast
 
Quote from Fast_Trader:

Daxtrader, I was in the ET chat room this morning, and had a pretty good time. There wasn't much talk about the market, but we did have some discussion on the more important things like food, sex and politics :D

-Fast
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ahhhhh....Nitro and all those blowhards couldn't trade themselves out of a plastic milk jug in an oreo cookie factory....


Michael B.

Got milk?
 
Note: Going forward, all times will be in Central time since the CME is in Chicago and I mostly trade ES.

November 28th (Friday)

Total trades: 2 (All Shorts) 2 Winners

2:28 AM - Short 1 ESTX50 2650
3:28 AM - Cover 1 ESTX50 2637
Result: +13
Notes: I placed this trade; put a stop at High of Day + 1 pt at 2654 and a target order @ 2637 (re-test of the open) and went to sleep. ESTX50 moves so slow that this is the only way I can actually bank a few points :D

10:37 AM - Short 1 ES 1059.25
10:38 AM - Cover 1 ES 1058.75
Result: +0.50
Notes: My short here was a little late, but still a decent entry. I should've re-shorted 1059.25 later in the morning though. Everything was still pointing down. My only excuse is, I haven't placed a trade in a few weeks so this was a refresher :D

Overall:
ES: +0.50
ESTX50: +13
 
ESTX50 moves so slow that this is the only way I can actually bank a few points


All joking aside...I do not recommend this.......but makes for interesting trade journal entries.....does this mean that being asleep at the wheel might improve my results? maybe...


Michael B.
 
Quote from ElectricSavant:

ESTX50 moves so slow that this is the only way I can actually bank a few points


All joking aside...I do not recommend this.......but makes for interesting trade journal entries.....does this mean that being asleep at the wheel might improve my results? maybe...


Michael B.
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Michael, depends on how disciplined you are and how much patience you have. I don't have the patience to sit through a trade for an hour, so this is the best way for me to get a good Risk/Reward ratio on my ESTX50 trades. For example, this trade had a R:R of a little over 1:3 and I'd like to maintain that on ESTX50, and this is the only way I can do it. If my system is correct even 50% of the time, I will come out ahead by doing this.

-Fast
 
Quote from Fast_Trader:


Michael, depends on how disciplined you are and how much patience you have. I don't have the patience to sit through a trade for an hour, so this is the best way for me to get a good Risk/Reward ratio on my ESTX50 trades. For example, this trade had a R:R of a little over 1:3 and I'd like to maintain that on ESTX50, and this is the only way I can do it. If my system is correct even 50% of the time, I will come out ahead by doing this.

-Fast
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Well, yes....I understand you....but still necessary to monitor the trade....as you know there are no guarantees...and your limit could be passed over....or as you know, something else could happen if you order is not native on the exchange....But you are experienced enough to know this...I just worry about other newbies thinking this is ok to walk away from a trade....you are short term trading are you not? If you were holding 10 days well then you must rely upon your stops and targets....but I still like to watch even with 10 day holds especially when it nears an execution.

Michael B.
 
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