BOT 1 K200@211.70
STOP @211.50
STOP @211.50
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My Experimental Trading Life
- Thread starter ToBeMyself
- Start date
BOT 1 K200@211.95
Stop @211.75
Stop @211.75
Enough for today.
Some thoughts:
i) have you worked on a risk management approach? 54% is about 5 times bigger than what your drawdowns should be. As a less experienced trader, and part-time, you should not be having drawdowns more than about 10%. So it sounds like in 2008 you were trading about 5 times too big.
ii) One good year isn't enough to justify quitting a secure job IMO. I would look for more consistency - 3 profitable years, with at least 2 of them being good years, not just small profits.
iii) I like the idea of the split accounts. Demo account for real-time testing, live account for proven strategies. Good plan.
i) have you worked on a risk management approach? 54% is about 5 times bigger than what your drawdowns should be. As a less experienced trader, and part-time, you should not be having drawdowns more than about 10%. So it sounds like in 2008 you were trading about 5 times too big.
ii) One good year isn't enough to justify quitting a secure job IMO. I would look for more consistency - 3 profitable years, with at least 2 of them being good years, not just small profits.
iii) I like the idea of the split accounts. Demo account for real-time testing, live account for proven strategies. Good plan.
SLD 1 ES JUN10 Futures 1079.25 USD GLOBEX 12:34:32
BOT 1 ES JUN10 Futures 1080.50 USD GLOBEX 12:37:55
SLD 1 ES JUN10 Futures 1080.50 USD GLOBEX 12:38:09
BOT 1 ES JUN10 Futures 1081.50 USD GLOBEX 12:38:51
SLD 1 ES JUN10 Futures 1081.50 USD GLOBEX 12:38:57
BOT 1 ES JUN10 Futures 1079.25 USD GLOBEX 12:47:50
SLD 1 ES JUN10 Futures 1078.75 USD GLOBEX 12:50:13
BOT 1 ES JUN10 Futures 1076.75 USD GLOBEX 12:51:44
P/L +2 pts
BOT 1 ES JUN10 Futures 1080.50 USD GLOBEX 12:37:55
SLD 1 ES JUN10 Futures 1080.50 USD GLOBEX 12:38:09
BOT 1 ES JUN10 Futures 1081.50 USD GLOBEX 12:38:51
SLD 1 ES JUN10 Futures 1081.50 USD GLOBEX 12:38:57
BOT 1 ES JUN10 Futures 1079.25 USD GLOBEX 12:47:50
SLD 1 ES JUN10 Futures 1078.75 USD GLOBEX 12:50:13
BOT 1 ES JUN10 Futures 1076.75 USD GLOBEX 12:51:44
P/L +2 pts
Quote from Ghost of Cutten:
Some thoughts:
i) have you worked on a risk management approach? 54% is about 5 times bigger than what your drawdowns should be. As a less experienced trader, and part-time, you should not be having drawdowns more than about 10%. So it sounds like in 2008 you were trading about 5 times too big.
ii) One good year isn't enough to justify quitting a secure job IMO. I would look for more consistency - 3 profitable years, with at least 2 of them being good years, not just small profits.
iii) I like the idea of the split accounts. Demo account for real-time testing, live account for proven strategies. Good plan.
Thanks for your kind input.
Yes, you're right that 54% loss is way too big. Lesson is learned. Everyday, I remind myself not repeating the same mistake.
I always ask myself: what makes trading so tough?
Hi there,
I'll be watching your thread with great interest, I am doing a similar thing trading futures at night and when I can during the day.
Its a good way to build confidence before taking a stab full time.
When taking profits are you using a protective stop once you hit your target and letting the winner run at all or are you just looking to scalp a few points daily?
Good idea to work with just one contract for now as you are doing.
Good trading to you.
I'll be watching your thread with great interest, I am doing a similar thing trading futures at night and when I can during the day.
Its a good way to build confidence before taking a stab full time.
When taking profits are you using a protective stop once you hit your target and letting the winner run at all or are you just looking to scalp a few points daily?
Good idea to work with just one contract for now as you are doing.
Good trading to you.