My Path To Success

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Net Profits: +695.83

It has been a while. I returned approximately 67% on my trade today (max risk/margin requirement). Very happy with results.

I'm hoping to add some more systems to my mix to decrease serial correlation, draw down, and concentration exposure. But, it will take time. Position sizing is another aspect that I will want to review.

I've changed the format because I had to move some money out of my account. But, for example today with only 1k I returned $415 and only had at risk around $600.
 
P&L: +885

Great short trade today made me around $225. I lost a bit trying to get a feel for currencies thought (-$25).

I feel risk is higher then usual.
 
P&L: +1339

Due to some account shifts, I only had 1k in my account and I doubled it over about 4 to 6 trades. I feel good about that. I also feel good about working through that down draft. I think I had my worst losing streak ever shortly after starting with real money.

I don't want to become over confident. Keep an eye on risk and also on adding some additional strategies. I'm already an expert on the ES but need new strategies. I am looking at crude and think that will be my next target market.. with 2 markets and more systems.. keeping my market read sharp..

I feel good things will happen.
 
P&L: +$1209

I missed a few great trades this week. I was going long the ES for a $400 or so trade when I closed it out for a tiny $50 gain. That cost me.

Today, I was unable to get filled on my crude short and decided to sell binaries above the market. Crude rallied above my binaries and I had to sell for a small loss.

Really tired today.. it cost me.
 
Let me explain. I had my account at IGMarkets. IGMarkets no longer offers Nadex. As a result and due to unexpected non related market expenses, I only had 1k in my trading account which I doubled to 2k. I fully realized significant risk in doing so. I have been trading a model 2k to 4k account, although it is not definite. I have been in profit almost the entire length of this thread, I had around $250 of profits left over after my down turn. I made another $1000+ profits this past week or so.

Also, I don't trade futures with real money. I trade the futures on my audited hypothetical track record. I trade a vertical spreads via NADEX, a proxy to the futures, in my real money account.

I like NADEX a lot. I can trade the ES for as little as $10 per point with an upfront and known risk. It is similar to trading vertical spreads or futures. I give up some premium and pay more in the bid/ask spread to trade this small. I am typically trading the SP 500 @ $20 to $40 per point. The leverage I can get is more complex then in futures and is a function of premium and price to floor. I have the ES, crude, and many futures market. Nadex is a great way to get into the futures market in my opinion. Also, I do like being hedged and having a price floor on my trades. Although, I am skillful enough in futures trading to trade "naked". The premium is important and non trivial though. These profits are NET of very high expense ratio -- which I pay -- to trade small.

I'm exhausted but I will offer my tips on trading @ NADEX if anyone request it. I also trade binaries too which are all or nothing pay outs. I trade the mini futures exclusively at my hypothetical account.

I have a good skill in trading both futures and NADEX. Again nadex is like options on training wheels -- vertical spreads that trade similar to futures and binary options (all or nothing payouts). It is also similar to CFD or spread betting account which are not available to US citizens.
 
P&L: +$1290

I've suffered some big swings recently. I had $340 loser and a few other losses. But, I was able to capture the rally in crude and part of the rally in the ES today.

Working out of a bad loss feels really good. As Greenstein might say, toughness is an important attribute in trading/gambling.

What I've learned:

Position sizing is very important. Knowing when to hit the gas and the break is important.

I was a bit less agressive after the loss in my real money account then in my sim account. In my sim account, I was able to make a profit where I'm slightly down in sim. Now, a part of this is because I'm rising a lot more per trade.

But, I have to manage these swings carefully. I think this may be a part where some stronger principles need to be formulated.
 
P&L: +$1469

This is an all-time new equity high for me. I did some great trading lately to get here. This is a 49% return on a 3k account or a 36% return on a 4k account.

Okay.. so I just need to maintain my market focus, keep my size reasonable, and keep consistently winning.
 
P&L: 964

Pretty bad week. I was right on a lot of the moves but gave what I made back and more on stupid trades. I also lost some money on good trades that just didn't work out. I probably lost +$50+$50+$250 = $350 on bad trades and the rest on good trades.

My biggest problem was position sizing. I was sized small on my winners and larger on my losers. I also lost $100 just for not trading well or making stupid mistakes.

I'm taking a break for a while.. I think again. I was up 120% on my funds in account or more. I will have to be very selective and only trade at my best to do that.

I've been trying to force stuff which has cost me.
 
On the one hand, 120% return on actual capital in the account in several weeks at peak (currently 70% return) and 50% return on the model account is stellar performance.

I myself have said that a 30% return at 1:1 or better r:r is among the best of actual tracked records (i.e those that can be verified). Even my trading system has "only" returned 70%-100% yoy for the past several years. What about competitions? If I were trading in a competition then I might have been among the very top and I'm not trading a competition. Is it possible to do more? I have some strategies that I haven't fully verified the results that might do 500%-600% on capital per year.

I think part of my problem is I've kinda lost balance, i.e lost balance with what is realistic. But, on the other hand several of my trades were near misses (mostly my system trades) and had a few of those hit differently then I might have a 4x to 5x return on the account now.

I think going forward is I have to think and not just talk about position sizing. I was right on almost every move this past week but my position sizing didn't work.

I gotta run and have not finalized it..

But I'm thinking $20 per point minimum and $50 per point max. That's the largest position I can have on. Some of my big losses were the result of my sizing up to $70 per point. And on top of that, risk max 20% of the account on one trade at worse possible event.
 
P&L: +633

Crushed. I need a break. I got out at 1290 or so before the break. Came back and seen it had hit 1283 and got suckered in at the EOD right at swing peak and lost another $100 in a few minutes.

I will have to review my performance and make the required changes to get back to winning. I'll probably have to drop my leverage.

I suspect I'll stop buying momentum in this market and start waiting for limits or just take out measured moves.

I'm not sure yet. Probably no more buying in the afternoon either for late day reversals...

Really sucks to have the market read to get out before the drop and then jump back in.
 
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