nemesis45 TST journal

N

nemesis45

I blew up my first combine.
cant believe i failed a sim test.
Main reason - awful risk management ( hit 3 lots on a 1k limit in crude,ended up losing 1015 usd on the day)

Also, there are some really good traders on TST energy chat room trading live, with consistent good trades - I wish to do better.

I have had enough of being inconsistent.
I realize that i have been looking at the problem at the wrong angle all along.

Going to start a new combine. Either Monday or Wed.
This time around i want to keep a journal.
I dont want it to be a game of chance when i go funded too.
need to have complete confidence in my trade execution.

So here goes nothing..
 
Decent trades today.
ended up + 1405 $

Did two bad trades long 95. 39 -2 lots , cut 95.24
and one other long which lost me 200$ more.

I think i might begin the new combine from next monday
will try giving up smoking in the meantime
It comes close to being as psychologically challenging as trading :P
 
Lost around 800$.
Mostly in the first move up in crude, after the open outcry.
Even though price action was a bit on the buy side, i kept hitting shorts thinking it would be a range.

Anyways going to take the combine from tomorrow , lets see how that goes.
 
nemesis45 said:
...a bit...
More...

Price on the daily chart yesterday = bullish

Price action in the overnight session = bullish

Price action in pre-market = symmetrical triangle trend continuation bullish breakout with conviction during the 8:40 eastern time bar

What caused you to see a range that placed favorable odds to the short side?
 
I inferred it would be a range day.
Three shorts one before it broke range(previous swing), and two after it had broken range.
short around 95.54 to 95.90
Hit longs later but did not hold for 20+ ticks

I didnt think the buying was strong enough on price action to lift it up + 100 ticks initially. lost mainly on the pre opening move where i thought it would go in opposite direction after opening.
After the open outcry the direction was obvious but never held it for too long got 95.80 to 96.00 ( did not hold since price action still seemed like range to me, as in it wasnt being bought up aggressively) , and 96.53 to 96.73 ( this breakout was a bit easier)
 
Was it so obvious to you Nodoji?

i guess 94.50 would have been a good long but i can only say that on hindsight.
have committed this one price action to memory , since i often rely on trend days to make money and cant have it the other way around.

How much $$ did you make on this
 
ok first day of new combine.
made 410 $.
risk management was fine.
but disappointed with ending with just 400$, since i had made that with one trade itself.
rest all trades more or less cancelled out.

Bad trades.
97.25 short cut 97.40 - did judge the momentum rightly got greedy for 10 -15 ticks.
97.57 long cut 97.42 - bad entry. learnt something tho so its ok

there were a couple more losers but not more than 5-10 ticks.
 
nemesis45 said:
Was it so obvious to you Nodoji?

i guess 94.50 would have been a good long but i can only say that on hindsight.
have committed this one price action to memory , since i often rely on trend days to make money and cant have it the other way around.

How much $$ did you make on this
More...

I made over 70 ticks to the long side between 9:40 and noon eastern time yesterday. I had only one short trade during that time window off the failed breakout at 10:49, but that trade failed to produce a big enough move to profit from.

The signal to focus on longs was based on the strong breakout at the open.

Congrats on your profitable day :cool:
 
Lost 990 $.
Broke my risk management rules and hit 2 lots.

Trades

96.65 short cut 96.71 , 1 lot
96.75 short 2 lots cut 97.13
97.10 short cut 97.15 2 lots
96.90 short cut 96.95 1 lot

Switching target to getting a rollover for the combine now.
Will trade sim for today.
 
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