FastTrader Futures-Trading Journal

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Quote from Fast_Trader:

TM...Keep in mind, not many traders watch ER2. ER2 is the only contract I had a problem with, and they were quick to fix the problem. I'd rather deal with a broker who responds to problems FAST, rather than someone like IB who you have to email 50 times to get someone to reply. In the end, to each his own. There's no perfect broker, but this one fits the bill for me.

-Fast
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As you know, I'm not raving about IB either. I'm a creature of habit, I guess, and would need a pretty good intensive to commit to a new broker. If OEC will prove themselves with a large user base I will consider making the move, or at least moving my backup account to them.

TM Trader
 
February 9th (Monday)

Total trades: 6 (All shorts) 2 Losers, 3 Winners, 1 Scratch
Time Zone: Central (Chicago time)

8:33 AM - Short 1 ES 1140
8:36 AM - Cover 1 ES 1140.75
Result: -0.75
Notes: A little nervous from Friday

8:36 AM - Short 1 ES 1140.75
8:41 AM - Cover 1 ES 1141.25
Result: -0.25

8:46 AM - Short 1 NQ 1498
8:51 AM - Cover 1 NQ 1498
Result: 0
Notes: Nervous from Friday. Cutting losses faster today.

8:59 AM - Short 1 ES 1140.75
9:05 AM - ADD 1 ES 1140.75
9:08 AM - Cover 1 ES 1139.75 +1
9:08 AM - Cover 1 ES 1139.50 +1.25
Result: +2.25

9:19 AM - Short 1 NQ 1498
9:24 AM - ADD 1 NQ 1500
9:46 AM - ADD 1 NQ 1501.5
9:57 AM - Cover 1 NQ 1499 +2.50
9:57 AM - Cover 1 NQ 1499.5 +0.50
9:57 AM - Cover 1 NQ 1499 -1.00
Result: +2

1:16 PM - Short 1 NQ 1501
1:18 PM - Cover 1 NQ 1499.5
Result: +1.5

Overall:
ES: +1.25
NQ: +3.5

Maybe I should have taken advantage of today's low volatility and done more size.
 
Quote from Fast_Trader:

Maybe I should have taken advantage of today's low volatility and done more size.
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IMHO get rid of the jitters from getting beat up on Friday before increasing size
 
Quote from cdbern:

IMHO get rid of the jitters from getting beat up on Friday before increasing size
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You're right. I will limit trade size to 3 ES and 5 NQ until I regain some confidence.

-Fast
 
Fast, I'll be the first to admit that I may not be the one to give advice about this subject but.....

It seems to me that you are over trading. At least, you are spending too much time deciding to put on more contracts than to just managing the first trade/contract you are in. I think your time will be better spent working on a single entry and exit strategy and method rather than scaling in and out the way you are.

Once you have mastered the single entry and exit method of trading then move on to scaling in and out.

My ES trading has been starting to click for me but I won't consider scaling in and out until I've mastered making one-entry and one-exit work consistently. I think the goal should be in points per contract. Once you can consistently make that positive most days, a little size will turn it into a nice income. Others may think otherwise but that's my 2 cents.

Oh, here is another possible name for your LLC

Braile Trading Management, LLC :D
 
Quote from pspr:


Oh, here is another possible name for your LLC

Braile Trading Management, LLC :D
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Nope. Can't have it. I already own the rights to that one. Why?
Because eventually I will be blind as a bat from staring at this
computer all day... :D

P.S. What pspr said above is right on. You have to earn the right
to trade more than one contract. But it's okay to use the simulator
if you want to practice trading additional contracts...
 
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