Joining the CME gang
- Thread starter hilmy83
- Start date
yea still alive. made another deposit and started trading the asian session only and trying to make monthly withdrawals along the way. staying away from US session like the damn ebola plague. it took a hard hit for me to realize that the US session has no edge for me.
i thought about starting the journal back up with just asian session trading, but i just think it's non value added for me to do that. what's the point of pnl journal anyway? it's not like i'm clueless about trading. everything going forward is about execution and discipline and I can be disciplined off the radar; plus i don't think i want to pursue cme membership; which render this journal pretty much pointless
I'm also not going to do anymore youtube. maybe will delete that channel. it's just a pointless silent livestreams
i'll probably do one last post for 2020 summary. After that, want to move on with forum posting (will still lurk around for new developments in the trading world, events. etc.).
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In my opinion, a trade journal's value is in the future which is very difficult for many traders to visualize...resulting in most trade journals being short lived while others are discourage with their trade performance that they sort'uv kick the journal to the curb as if it caused them their trade problems.
Trade journal reveals weaknesses & strengths about the trader. Without the trade journal...a trader will not have any proof (verification) about those weaknesses & strengths to help improve become a better trader.
You need to document that verification about who you are as a trader and it doesn't matter if its public or private. That's another issue...most make the mistake of believing their trade journal must be public. I only see value in a public trade journal if someone is trying to eliminate a problem in their trading whereas a private trade journal is for those that have consistent success but want to ensure it stays that way.
My point, everybody needs to document their trading regardless if its public or private so that they can look back to see what they're doing right versus what they were doing that's wrong.
Without the trade journal...there's no improvement or worst.
With that said, I don't see how a trade journal of any type will help a trader get a CME membership unless you meant you were hoping a trade journal will help you become a professional trader which is exactly a title given to those with CME membership.
A pro trader has more tools than us retail traders that has much more to do than commission rates. The one key difference involves compliance office or something in place that someone is watching to help ensure you're following some rules to prevent implosion.
In fact, I've seen other traders with trading problems than assume in error that if they get a CME membership...they will be more professional and more business like in their trading resulting in less problematic (roller coaster like) trading.
I wouldn't recommend someone getting a CME membership unless they had a trading account > 100k and not because a few I know that have CME membership do in fact have > 100k trading account.
The only thing a CME membership does for a trader is to allow the trader to trade at reduced rates and lower fees...nothing more. It does not improve the performance of the trader.
It's simple, if you do not have a problem with your trading...you have a better chance at continuing being a successful trader without a trade journal versus those that are not successful without a trader journal.
Once you document your trading publicly...leave the files, notes, videos as is for verification of your trading assuming you have not downloaded those public videos for future reference.
Thus, it does not make any sense to delete your channel when you can easily make the files private...deleting your channel implies you're having problems with others that have been viewing your channel. They win if you delete your channel. Simply trade Journals do not cause trade problems but it can create problems with others (trolls, jealous idiots) that are viewing your trade journal.
P.S. Having a trade journal is like an athlete (he/she) needs to study tapes of their past competitions to help them be prepare for their next competition. If you think having a public trade journal is causing you problems with your trading or with others viewing your public trade journal...
Make it private or available only to a select few.
wrbtrader
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Good to see you again. When you find some time, I suggest you to try Natural Gas (/NG). Its price action is quite clean and easy compared to forex or stock indices. It's also almost free from headline news or Trump tweets. Now I trade /NG exclusively and I am quite happy with it.
All the people who went through the weekend long are still in the bathroom vomiting.
the day that we'll remember...
nothing special on my end. just in and out
next time shit like this happen again..i'll post. But for now, grind on
Another day of trading halts...will post pnl for the week later tonite...