lilduckling's journal of YM

Thanks guys!! :)

but part of my long term plan is to increase in contract size.... i like only having to work a few minutes a day for a few points...in and out... like a thief in the night....but, sooner or later i must increase contract size...but the way i will approach it will be the same way i did it with stocks.... only when im so bored to death with one contract, then i will add another one.... the idea is to ease my way into additional contracts... I keep extremely detailed log of my trades in excel spread sheets... i track things on daily and monthly basis like:

# of wins
Ave win
# loses
ave loss
net p/l
win/loss ratio
batting ave
net pts
ave pt target
ave pt win
ave stop
avg r/r
actual r/r
time of day
day of week
which part of trading plan was violated
% of target reached
total contracts
ave contract size
commissions

all these stats are for every single stragety i use PLUS as a whole.

Anyways... if and when i increase in contract size... these stats will tell me if im ready or not quite ready.... depending on what i see.
 
Darn!.... what a lousy day for me! Im lucky i didnt get torn apart.

First trade was a mess... need to stay away from tight ranges... don't have experience to trade in those conditions.

# of trades...4
Long:
In on 9:20 @ 10794
out 9:41 @ 10778
Net............. - 16 pts

Short:
In on 10:40 @ 10778
out 11:05 @ 10799
Net............ - 21 pts

Short:
In on 11:46 @ 10818
Out 1:53 @ 10804
Net............ + 14 pts

Long:
In on 2:00 @ 10813
Out 2:54 @ 10837
Net........... + 24 pts

Total Net.......... 1 pt

Thank goodness i was able to break even !!!!

Will try to do better tomorrow.
 
Quote from lilduckling:

Darn!.... what a lousy day for me! Im lucky i didnt get torn apart.

First trade was a mess... need to stay away from tight ranges... don't have experience to trade in those conditions.

# of trades...4
Long:
In on 9:20 @ 10794
out 9:41 @ 10778
Net............. - 16 pts

Short:
In on 10:40 @ 10778
out 11:05 @ 10799
Net............ - 21 pts

Short:
In on 11:46 @ 10818
Out 1:53 @ 10804
Net............ + 14 pts

Long:
In on 2:00 @ 10813
Out 2:54 @ 10837
Net........... + 24 pts

Total Net.......... 1 pt

Thank goodness i was able to break even !!!!

Will try to do better tomorrow.
More...



LD, just a couple of tips for ya.


I find it usually in my best interest not to go long at the open on a gap up and not to go short on the open on a gap down until some movement occurs one way. Just curious why you sold the bottom twice at 778, it almost looks like you were chasing the move. Your short at 778 was also right near a key reversal time after Ym had already fell 40+ points. Aren't you the one that likes to fade gaps like I do ?
 
Quote from volente_00:

LD, just a couple of tips for ya.


I find it usually in my best interest not to go long at the open on a gap up and not to go short on the open on a gap down until some movement occurs one way. Just curious why you sold the bottom twice at 778, it almost looks like you were chasing the move. Your short at 778 was also right near a key reversal time after Ym had already fell 40+ points. Aren't you the one that likes to fade gaps like I do ?
More...

Thanks volente..... and yes i love fading gaps but, this was a big one.... and it gapped up at the high of the prior day... alot of times when big ones gap up at the prior high or higher .. they like to run up before coming down... and usually fill in the afternoon... not morning. I went long before the open cause... the pre-market stocks i look at to gauge the strenght of the gap... were mostely bullish pre-market.... with good pre-market volume. Usually when they do that... gaps dont fill or fill late in the day. Both times i screwed up was...well... i thought the Mkt was gonna break down... but it was in a tight range and i had no business taking any trades. I went short at 10:40...well 10:30 is a reversal time... looked like it was gonna breakdown..... well i just messed it all up this morning. It was pure luck i broke even cause.... i shorted at 11:46 @ 818.... i used a larger than normal stop... had i used my normal stop... i would've been stopped out on that one too. But i knew that the 840 had good resistance... so just as a precaustion i put my stop just above it. Thank goodness i was right about that part.
wasnt a good day for me.:(
 
Okay.... im out for the day.... had 2 losses and 2 winners.... one was tiny because i made a mistake on the order entry... and only got 6 pts out of it.... would've had more, but regardless it wouldn't cover my losses.

And my last trade i just did was ok... +21 pts (in 2:52 out 3:23). My first trade resulted in a loss of -46 pts... it was crazy.. i was shorting than it spiked up before i had my stop in place.. i wasn't looking at the screen.... it happened so fast.....

Second trade.... i was rattled from the first trade and it resulted in another - 19 pt loss.

I been having alot of things going on.... along with some issues outside the markets... have to be better focussed if i plan on going forward. Also been working on my spreadsheets at the same time im trading... not really a good idea. don't know if i will trade next week. Have to work on my trading plan and spreadsheets... also putting in another monitor and video card. Have lots of things to do.... i lose money when im not focussed.

Anyways... i thought today, instead of listing my entries and exits as usual.. i would list some stats from this week's trading. Its somewhat interesting. These stats are for day trades only... does not include that disaster swing trade from last week. (no more swing trades for me)

STATS from 1-23-2006 to present.....

Batting Ave: 64%
Percent of wins in the morning: 38%
Percent of wins in afternoon : 100%
Percent of wins on Days of week.....
Mon 100%
Tue 100%
Wed 67%
Thu 50%
Fri 50%

Also.. majority of wins are coming in under 30 minutes.

I wont bother boring everyone with the rest of my stats.... just found these to be interesting.
Apparently i trade better in the afternoon than in the morning... today was a perfect example. Also trade better in begining of the week.

Well.... i think i will watch "March of the Penguins" on dvd... helps to relax me. I think everyone should just get away from looking at the markets all the time. I need to unwind.

Hope everyone has a good week-end
 
Well..... today was one where im not supposed to trade as outlined in my plan..... but i had trouble staying out. Kept thinking mkt was gonna shoot up to the moon... or fall off a cliff... after 2:15....... wanted to catch a move.... any move. I was bored and just dipped my toes in the water.... before i knew it was in over my head.:(

I thought the gap would fill quickly since it was a small one and there wouldnt be much of a commitment till 2:15. Got the first one wrong.... Shouldnt have traded till after the Fed meeting. I did classic newbie mistakes....

LONG:
In on 9:39 @ 10903
Out 10:02 @ 10884
Net.............. - 19 pts

LONG:
In on 10:07 @ 10894
Out 2:07 @ 10914
Net.............. + 20 pts

LONG:
In on 2:16 @ 10934
Out 2:18 @ 10919
Net............ - 15 pts

SHORT:
In on 2:24 @ 10883
Out 2:40 @ 10900
Net........... - 17 pts

LONG:
In on 2:46 @ 10892
Out 3:03 @ 10932
Net.......... + 40 pts

Total Net............ + 9 pts

Would've been a total waste of a day.... except i now have ingrained in my head how to trade after the Fed meeting....
1st move is a knee jerk.... stay out
2nd move is reaction to jerk.... stay out
3rd move......for most part.... is good... go with it...(depending on mkt internals)

Still i am ashamed i did so many trades on a day like today

:mad: :(
 
Howdy everyone.

Im afraid to say that there will be no more entries posted on this journal.... at least not for a while. You see i hit my max pt loss for the week today. I must leave trading the YM for a while. I am not making intelligent decisions in my trading, and therefore, before it gets out of hand.... i will cool it for a while, just watch the action from the sidelines. I will also take this time off to upgrade my system... organize my spread sheets and, most importantly... figure out why i am violating my own rules.

I will be back!

I am not a quitter.... i never quit. I will keep on getting up again and again when mkt knocks me down. I didn't get this far by being a quitter.... and im not going to start now. Since starting the YM ... i must regrettably report the my losses have now reached 1.3% of my account. BUT.... mkt will have to pry my last penny from my cold dead hand for it to be over.

To many stupid mistakes have been done this week... i have alot of reviewing to do. I am on a mission to learn the YM... and inside, i know i will do it! I will not stop until then. Money is not my objective.... as when i post my results, i use net points... not how much money i made or lost. But.... 1.3% is a loss large enough for me to be realistic and realize its time to go about this in a different way.

I will still be around but wont be trading....until then....good luck everyone!

I want to thank all my friends who have supported me up to this point.
 
hey lilduckling,

How many lots were you trading?

When I started trading YM futures/NQ

I traded 1 lot, but I lost like 50 - 60 -100 times

but only lost about $1k or so over 2-3 months.
 
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