Following a set system.

andy,

Cool. :cool:

Will you be providing us charts with your entries and exits or timed trades so we can reference them?

aphie
 
Originally posted by andy4
Hi All,

it is with great thought that I'm going to write a journal till at least the end of the month.

Many of you have given sooo much and hopefully this may help somebody. I know and except it's for me also.

I've been trading on and off for about 4-5 years, time flys when your having fun. The off times have probably out numbered the on's, pretty much due to being out of control, not following my plan, what plan ????

God has allowed me the time and resources to trade full time. Though I'll be following a system that only generates 1.5 avg trades a day.

Why did I have to mention "God " ?

Pretty much because I believe if Glory is not given to Him, then all this is just blowing in the wind. Being at home all day I don't meet too many people, and this journal may give me a way to share about Jesus if anybody asks.

At this time I don't want to go into too much detail about the system I'll be following, I'm sure it's nothing new, it's certainly not exciting. It is a trend following system of the mini NQ, first trade will be after 10am, WHEN an entry is given, and all cash at 4pm.

I'm giving it a 20pt stoploss/trailing stop, which will reverse me in the market if hit before 4pm. I will ONLY follow THIS system till the end of the month (about 15-20 trading days, have company coming at the end of the month, will take a break)or till I get 10 straight losses in a row. I realize that comes to $4000 (20pts x $20 x 10trades = 4K)

What I've been doing in the past has not worked completely, this is an educational exercise taken from Mark Douglas, with lots of ideas added from you guys.

Guys (I include ladies in this) this is real money for me, but I have to get real and make this work.

I'm looking to share about the pro's and con's of following a set system. I'm kinda shuddering at the thought of the response I'm going to get from some of you especially the large stop, but I have papertraded this system and feel comfortable testing it live for a while. I am looking to learn lots, plus maybe profit some if I'm honest, but WILL follow the system till at least the 10 losses happen.


I'll add more tomorrow after my first day of "real" trading.

Thanks to all those who have helped me in the past,

Andy
More...


you will have trouble if god is busy helping someone else trade the converse position ;-)
 
Hi,

I'll take alook at posting something from IB, if it looks o.k., nothing personal, account numbers etc, I'll post it.

NOT meaning you (aphie) at all, but I'm sure there are some who just don't take peoples words for things, the statements would help, I guess.


LOL- FasterPussycat :-)


This practice of just following a plan is really getting me excited, can't believe it took me soooo long.

Though really, and I do mean this it's not really about the system I'm using, more about following "A system/trading plan" completely, no detours !!!

This is kinda embarrassing as for charts, I'm using Big Charts - NDX, it's a little off, but I'm really only looking at highs/lows, for entries, and with the big stop I have time to adjust, the delay doesn't affect me. One reason I'm going to try and stay with Big Charts and not go back to Q-Charts, is to stop me being tempted to scalp, I'd be crazy to try with Big Charts :-)

I may be crazy relaying on Big Charts anyway, but so far so good, it's what I used to papertrade ideas, maybe this will be my failing ???

Later, Andy

Heres, Tuesdays
----------------- ----------- -------- ----- ----------- ----------- ----------- -------- ---
02-09-03 10:04:58 NQ SEP02 GLOBEX -1 912.5000 905.0000 150.00 -2.40 O
02-09-03 15:58:16 NQ SEP02 GLOBEX 1 900.5000 905.0000 90.00 -2.40 C
===== =========== ========
0 240.00 -4.80




**Heres wednesdays
----------------- ----------- -------- ----- ----------- ----------- ----------- -------- ---
02-09-04 12:09:40 NQ SEP02 GLOBEX -1 902.5000 915.0000 -250.00 -2.40 O
02-09-04 14:13:29 NQ SEP02 GLOBEX 2 914.5000 915.0000 20.00 -4.80 C
02-09-04 15:59:11 NQ SEP02 GLOBEX -1 921.0000 915.0000 120.00 -2.40 C
===== =========== ========
0 -110.00 -9.60

===========

Guess you'll get todays tomorrow. Though I probably won't post anymore after this week, just have to take my word for it, I'm only cheating myself if I lie to you guys !!
 
09-03-02 04:24 PM
Day one :-)
Originally posted by andy4

One day down 19 to go :-)
More...

09-05-02 04:11 PM
Day 3 Originally posted by andy4
Hi All,

17 days to go, actually may be only 16, lost one day because of labor day :-)

Have a super evening, Andy
More...

09-05-02 05:11 PM
Originally posted by andy4
Guess you'll get todays tomorrow. Though I probably won't post anymore after this week, just have to take my word for it, I'm only cheating myself if I lie to you guys !!
More...


did I oversleep and 15 days had gone by :confused:
 
Hi,

I was just meaning the numbers from IB, my daily log will carry on till the trial is over (trading trail, not court, don't want to start more confusion :-)

Hope this helps.



Here's yesterdays trade report official numbers.


Trade Time Description Exch Qty Trade Price Set Price Gain/Loss Comm ***
----------------- ----------- -------- ----- ----------- ----------- ----------- -------- ---
02-09-05 10:09:23 NQ SEP02 GLOBEX -1 886.5000 893.0000 -130.00 -2.40 O
02-09-05 15:59:10 NQ SEP02 GLOBEX 1 885.5000 893.0000 150.00 -2.40 C
===== =========== ========
0 20.00 -4.80

=========== ========
USD Total: 20.00 -4.80

Have a great day out there, and be careful :-)

Later, Andy
 
Hi All,

What a day. Got a little confused on my entry point today, following my rules just read the chart a little wrong. Anyway the market carried on in that direction, so it didn't affect any numbers or anything. I'll just give myself an A, I thought I was following my rules, that's what counts, plus I'm the one grading anyhow :-)

Stop limit order got hit (no slippage) at 922 (10.05am), 1 contract NQ. Placed 20pt trailing stop for 2 contracts.

Then it was just watching it and trying to work myself up emotionally (I really don't need to watch it as much as I do)

Still enjoy being in the chatroom here at Elite, breaks things up and get to see how others are trading (when they stay on Topic !!:-)

Anyway rode it all day, at one point being up 10pt's, tough to watch it slide away, but that's the plan I'm following so be it !!

Close out at 4pm at 921.5 for a 1/2pt loss. Some you win some you lose, but I stayed with my plan all week - I WIN :-)

Have a super weekend,

later, Andy

p.s will try to post offical trades later or tomorrow
 
God's Grace or just good luck , you all can decide, I know what I believe,and I'm thanking Him :-)

Went back over the time frames and chart for today. When I entered my buy, thought we'd already gone past 10.05, just read my charts wrong, thats what happens when you use Big Charts :-)

Anyway, looks like I got in a little early(10-15seconds), which meant I probably would have been short a little later, not quite sure but looks that way. It would have then whipsawed me long, giving me a pretty or a ugly big loss for the day.

Again I'm not totally looking at profit/loss during this time, but how I follow my plan, which to be honest, I really thought I was. Anyway, I'm still going to give myself an A (generous perhaps, but hey my intentions were there !!)

One of those 50/50 things , it went in my favor this time. I guess even following a set plan there are going to be hiccups of some kind, broker problems, internet connection, or just plain dumb honest mistakes :-)

I did also at that time go through the emotions of getting long at the high of the day (for that time) for nearly an hour, even with a new low of the day happening during that time, but I kept to the plan and didn't waver. I have a rule for if a situation like this happens (really thinking if my cable or something went down, or if I'm held up somewhere and can't get to my computer till a little later) Which is to wait till 10.35, then go in the direction of new high or low of day.

Hopefully this all makes sense. Please be patient with me :-)

Again, this is all about having a set trading plan, and letting it work for you. Black and white, in stone, no "if" and "buts" !!

Thank you all for letting me share this week.

I'll post IB stuff tomorrow.

Later, Andy
 
Hi all,

here's yesterdays statement,

Trade Time Description Exch Qty Trade Price Set Price Gain/Loss Comm ***
----------------- ----------- -------- ----- ----------- ----------- ----------- -------- ---
02-09-06 10:05:04 NQ SEP02 GLOBEX 1 922.0000 920.5000 -30.00 -2.40 O
02-09-06 15:58:48 NQ SEP02 GLOBEX -1 921.5000 920.5000 20.00 -2.40 C
===== =========== ========
0 -10.00 -4.80

A few notes, for the week ended up about 7pts, not including commissions (5 rt). I didn't spend too much time re-going over my trading days this week, just because soo much other stuff going on. Though I think on a couple of days I'd seen my P/L up over a $100 at times and then watched it come back to 0$ or down some. In fact yesterday because of the mis-read charts I went straight down 12 1/2 pt's , but no matter what my emotions were trying to do, I kept with the plan.

Yes it's probably not a good trading strategy, but that's not really my concern at this time. Right now it's about following the "plan" before me, if I can have discipline I'll find a strategy that will prove profitable sooner or later, I actually think there are thousands out there, but the lack of discipline, not taking everytrade, getting out too early or too late, stops the 95% of traders from making a daily living.

Just my thoughts :-) They're usually wrong, be careful :-)

have a super weekend,

Andy
 
Hi all, hope you all had a good weekend :-)

Followed the plan again, full marks A+, if it seems this is easy, my grades are not showing the emotions !!!

Went short about 10.06am at 904.5, got to watch about 3points in my favor, then it turned and took off, thought it might come back around 11.30.am but it didn't. My 20pt trailing stop got hit and reversed me long at about 1pm (920.5 for a 16pt loss) only to go south for a while giving my emotions a feeling of a very bad day :-(

All was not lost, the market wanted to go up and it did, actually I was up a little profit for the day, but closed back at 932 . Giving me a loss for the day.

For the record 1st trade -16pts, 2nd trade+11.5 , total for day -4.5pts. (NQ point = $20) plus commissions.

This was real tough (silly maybe), was actually up until the last 7mins of the day (I only trade to 4pm) then watched the market fall away..... Just sucks, but I'm the one in control, and I decided to keep to the plan, scored an A+, but don't feel too hot about it today !!

Again I joined the chat room(elite) to help me through the day, I also got a few things around the house done.

Even writing this I can tell the emotion from seeing a profit disappear right at the end of the day again,(Friday) is annoying me, but, and I mean BUT, I got to work from home, see more of my family. Really enjoying being able to walk with my wife in the morning, not rushing out to work. God has just truly blessed me. I'm still following my plan, maybe the strategy might need changing down the road, but discipline is not an easy lesson - which if I don't learn I don't belong trading !!!

All right, praise to God, I'm feeling better again, must remember where to keep my focus !!

have a super evening,

later, Andy
 
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