NQ Trades

I had a series of dreams last night where I was trading. No matter what I did, buy or sell, the market always went against me. When I woke up this morning, I felt like I had forgotten how to trade. Needless to say, I wasn't feeling very confident today. I didn't even start trading until 3:00 EST.

Trade 1 (BOT 1222 SLD 1222.5) I was looking for the NDX to go above 1225. Almost immediately after entry, the market went to 25X25.5 and I thought for sure that I was going to be right. Then it proceeded to come back all the way to 1220. At this point I was feeling pretty stupid for letting a winning trade turn into a loser, especially because I had considered getting out at 1224 for just this reason. I was also considering reversing, but there was support at 1220. When it came back up to 1223, I got out at 1222.5 because I didn't want to mess around with this trade anymore.

I'm upset about how Trade 1 worked out. First of all, I never should have let a winning trade put me in a position to lose. But more importantly, I put myself in jeopardy because of bad trade management (ignoring the exit signal I received at 1224).
 

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I didn't start trading until 2:30 EST because I figured that the morning would be uneventful and I wanted to give the market at least 15 minutes after the FOMC meeting before initiating any trades. I noticed that the tape was very strong and was pointing upward. I considered going long at 1228, but I couldn't force myself to enter. I was just thinking about how I had been burned in the past by the volatility following a Fed decision. I think that the FOMC meeting psyched me out to the extent that I was unable to capitalize on a great opportunity. When the market blew through the resistance around 1232, I knew that I was right, but I wanted to wait for a pullback to enter.

Trade 1 (BOT 1233 SLD 1233.5) I had a hard time figuring out why it was taking so long for the market to resume its climb after its pullback. The tape was still very strong and pointing up, but I was getting extremely impatient because I felt the pullback was taking way too long and consequently that something must be wrong. Also, my entry wasn't the best, and I spent most of this trade with a losing position. These two factors contributed to my premature exit. All I can say is that I was concentrating on the wrong things and was looking for any excuse that the trade wouldn't work. I think that I was defeated from the moment that I entered this trade.

Trade 2 (BOT 1234 SLD 1235) After exiting Trade 1, I quickly came to the rationalization that I was about to miss out on a great opportunity. There was some resistance at 35.5X36, and while the tape still indicated that this was a good trade, I thought that I would be able to get a better entry (subconsciously I wanted a redo on Trade 1). Obviously, this was the wrong decision because I was putting my own needs above those of the market.

Trade 3 (BOT 1238 SLD 1243) I was finally able to get my act together on this trade. That's really all there was to it.

One thing that I would like to point out is that I haven't been trying to fight the tape lately. The reason I thought of this is because yesterday afternoon the tape turned on me at 1224 and I got a sick feeling (it was a really weird feeling). That was the first time in over a week that I had been in a trade that was contrary to the tape (that I remember anyway). Interestingly enough, I would say that over this same time period my performance has been very good. So basically I attribute this to trusting the tape and letting the market do the rest. Also, I'm not going to beat myself up over what happened today. I was trying to protect myself against volatility.

I would like feedback on whether or not I should continue to post the screenshot of my executions. Originally I thought that it was a good way to prove that I was actually making the trades that I said I was making. I've since been informed that it would be relatively easy for a person with graphic arts experience to doctor that image however they wanted. My contention is that if someone didn't trust me, then they could always search through the historical time and sales data provided free of charge at globex.com. For example, my only trade for yesterday, August 11 was BOT 1222 at 14:09:01 SLD 1222.5 at 14:41:20. By looking at the time and sales data for those two times (posted below), it can be seen that the data matches. However, it still is not entirely provable, but it's as much proof as I'm willing/able to provide. Also, I looked around on several other journals on ET, and didn't see anyone posting their executions screenshots. Is there a reason for this (a potential identity theft hazard)? I thought posting the screenshot looked really nice, but I won't continue until I'm aware of any risks involved. I've also been informed that certain files contain personal information hidden in the computer code. I must say that this thought has me extremely worried, and I would really appreciate if someone with expertise in this area could shed some light on the situation. Thank you.

03-09 08/11/03 14:09:01 0122200
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Quote from AFterburner:

...I would like feedback on whether or not I should continue to post the screenshot of my executions. Originally I thought that it was a good way to prove that I was actually making the trades that I said I was making. I've since been informed that it would be relatively easy for a person with graphic arts experience to doctor that image however they wanted. My contention is that if someone didn't trust me, then they could always search through the historical time and sales data provided free of charge at globex.com. For example, my only trade for yesterday, August 11 was BOT 1222 at 14:09:01 SLD 1222.5 at 14:41:20. By looking at the time and sales data for those two times (posted below), it can be seen that the data matches. However, it still is not entirely provable, but it's as much proof as I'm willing/able to provide. Also, I looked around on several other journals on ET, and didn't see anyone posting their executions screenshots. Is there a reason for this (a potential identity theft hazard)? I thought posting the screenshot looked really nice, but I won't continue until I'm aware of any risks involved. I've also been informed that certain files contain personal information hidden in the computer code. I must say that this thought has me extremely worried, and I would really appreciate if someone with expertise in this area could shed some light on the situation. Thank you...
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Hi AFterburner,

Excellent afternoon trading...congrats.

As for those screenshots...your absolutely correct about how easy a trader with some digital graphics background and/or the right software can doctored or alter images to present false info.

Therefore, I don't think it's no longer needed and I have always consider such to be private info for your eyes only.

As for the identity theft issue you raised...

it has happened before.

I personally know a trader that posted a link to screenshots of his trades that also showed his account number.

Someone manage to review all his prior messages...gather bits and pieces of private info...

like something out of Mission Impossible movie...

burglarized his home (taking only private info) without him ever knowing anything until it was too late.

That happened a few years ago and he's still trying to get things resolved with major credit agencies about the imposter.

These are rare cases...the fact is this...

it can happen.

Reminds me of a house in my neighborhood that got burglarized after their real estate agent did one of those 360 rotating images of the inside when the house was up for sale...

less than 4 days later...they were burglarized very easy...suffering substantial losses.

Cops said it was the first burglary in our neighborhood in 3 years.

I told my Mom about this (her house is up for sale) and she immediately had her real estate agent remove those cool 360 rotating images from the website.

Thus...remember this...these are anonymous forums...

we do not know whom are reading these messages and they don't have to be a trader nor a register member because this is an open forum!!!!!

Therefore...this is the last place a trader should be posting any private info about themselves.

P.S. Can you tell me where you live at again...I forgot.

Burglarizing profitable traders may be a great way to supplement my trading income :cool:

NihabaAshi
 
Quote from NihabaAshi:


we do not know whom are reading these messages and they don't have to be a trader nor a register member because this is an open forum!!!!!
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I never really thought about that. I trust and respect other traders (for the most part anyway), but it never occurred to me that a non-trader would be reading my journal. That is a scary revelation. I just assumed that only index futures traders would even be interested in my journal in the first place. Right now I am feeling regretful for being as open and honest as I have been. I would never discuss feelings or emotions to the extent that I have with close family or friends. Now I realize that there is no such thing as true anonymity. The reason that I have found this journal to be so productive (I have noticed improvements in my trading due to the journal) is that I felt like I was able to share my thoughts with people who could appreciate them. This journal has been like going to a confessional where instead of a priest there is a master trader. Regardless of whether or not this master trader exists, what is important is that for me he did exist. Now that illusion has been shattered along with my naviety about public forums. Don't get me wrong, I knew that the information I was posting was public, but I was way too idealistic about how the information would be disseminated and used. Instead of do I continue to post executions screenshots, the question now becomes do I continue to post at all? I would like to be able to continue to share at the level that I have been because I feel that it has made me a better trader. However, it no longer seems prudent to do so. At this point, I really don't know what to do.
 
I elected to post screenshots of my executions in my journal for these reasons :

(1) I was too lazy to give a blow-by-blow description, not that I had to - I prefaced my decision with the following :
Quote from Mr Subliminal:
In keeping with the lighthearted nature of this thread, starting tomorrow I shall be posting my trades at the end of the day. From my perspective, I would like to see the effect of such an obligation on my actual trading. From your perspective, it will serve as pure entertainment. I have no intention of emulating Seanote, Hitman or any of the other logmeisters out there - I may allude superficially to the odd trade or two, but you'll have to look elsewhere for particulars like reasons for entry, exit etc. I reserve the right to cease posting these trades whenever I wish and without explanation. In short, I promise nothing and intend on delivering.
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(2) I didn't possess the technical writing skills that you do.

(3) My journal was of a different nature.

(4) I could finally put to good use the knowledge I had acquired, so long ago, in Doctoring 101.

As the others have already said, there's no need for you to prove anything. From your posts to date, both written and pictorial, one cannot deduce the country you live in (let alone state or city), your sex, age, marital status or any other personal detail. Keep it up - just maintain the common sense you've been using till now.
 
I'm disappointed with myself today. I had zero confidence and it definitely showed. Anyway, I talked with some people at IB and the necessary measures have been taken to protect my account from fraud. I should have done this first thing this morning (I probably would have traded a lot better), but I waited until I was done trading. Anyway, I'm really liking how this pure tape reading is working.

Trade 1 (SLD 1244 BOT 1243.5) Prior to 10:00 EST, the tape was pointing down and the market action was weak. After 10:00, the tape was pointing down but the market action was strong (contradictory signals). I thought this may have been due to the economic releases and that I should just trust the tape. Shortly after entry, I noticed that the market was headed higher, so I got out.

Trade 2 (SLD 1244 BOT 1243.5) This trade was really stupid. I entered almost immediately after Trade 1 because I didn't want a repeat of yesterday afternoon where I tried to out-think the tape. Unfortunately, I did not have a plan with this trade. The market went to 48X48.5 before coming back down, at which point I knew I should just count my blessings and be done with it. I took an hour and a half break to get my composure/discipline back together. I think that this trade had a negative influence on my perfomance for the rest of the day.

Trade 3 (BOT 1237 SLD 1237.5) Now the tape was pointing up and the market action was very strong. Unfornately, the market was moving extremely slow which caused me to get out because I had zero confidence and couldn't stand it anymore.

Trade 4 (BOT 1243.5 SLD 1244) At this point I was anticipating a new high for the day. Unfornately my entry was way too early which meant that I spent most of this trade in a losing position. Consequently, I lost patience and was easily convinced to exit.

Trade 5 (BOT 1245 SLD 1245.5) Realizing my mistake on Trade 4, I tried to salvage the situation. Unfortunately, I still lacked the confidence to make it work.

Trade 6 (BOT 1248.5 SLD 1249.5) At this point I was so frustrated that I just didn't care about losing anymore. The tape changed while I was in this trade and when it did I was quick to exit.

Trade 7 (SLD 1244 BOT 1241) I was waiting for market action to confirm to the change in tape. Confirmation was received at 1247, but I wanted to make absolutely sure so I waited. The good thing about this trade is that the market moved so quickly that I didn't have time to second guess myself.

Trade 8 (SLD 1243.5 BOT 1243) All I can say about this trade is that I thought it was 3:40 EST instead of 3:20 EST. Consequently, I immediately sent an order to buy at 1243 and never even gave this trade a chance.

By looking at a chart and matching up the trade times, it can be seen that I was able to pick the worst possible exits for every trade except 6 and 7. I don't really know what to say about this. I mentioned earlier that I thought it was a confidence problem, but now I don't think so. If it was a confidence problem, I most likely wouldn't have taken the entries. I think it was more of a paranoia problem. I was so paranoid that I thought every trade was going to suddenly turn into a huge loss unless I immediately got out. Anyway, this turned what could have been an awesome day into a decent day at best. After talking with IB about their safeguards against identity theft, I'm feeling a lot better about the situation. Hopefully I can bounce back tomorrow.

As far as posting executions screenshots in concerned, I'm taking the philosophy that any damage has already been done. I would just stop posting them altogether, but I feel that posting trades without times is pointless and right now I don't want to have to type all the times out by hand. The information that I received is that a .jpg file doesn't store a person's name in the binary data, but files like .xls and .doc (Microsoft Office) do. If this is incorrect, I would appreciate it if someone could post additional information. Thank you.
 

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Quote from AFterburner:

Anyway, I talked with some people at IB and the necessary measures have been taken to protect my account from fraud.
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What were those steps that you took? I also have an IB account and am interested in these "optional" security measures.
 
Quote from Mr Subliminal:



(4) I could finally put to good use the knowledge I had acquired, so long ago, in Doctoring 101.
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Funny. When I went to log-in today I was accidently typing the wrong password and for a brief moment I thought that I had been victimized. Funny, huh? Anyway, check out what an associate of mine made in his Doctoring 101 correspondence course.
 

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Hi Afterburner,

I trade NQ exclusively. I was curious as to how many points you allow yourself (loss) on the trade. I noticed on Trade 2 , it was 4 points against you. It seems like as many times you read the tape right, you read it wrong(frustrated, no confidence, etc. Obviously, that can happen to anyone with all the "noise" that occurs in this contract. Maybe you would do better (and save commissions) if you did less trades and instead , once you put on a trade, stick with it until you reach the desired ratio, whether it be 2-1 or even 1-1. Sorry if you mentioned your stop loss amount in a previous post-I don't want to read all 20 pages again:)

Regards, Tbill
 
Quote from AFterburner:

Anyway, check out what an associate of mine made in his Doctoring 101 correspondence course.
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A couple of quick points :

(a) While we still don't know your gender, notice how you have revealed your associate as a "he". Careless.

(b) He was lying to you - what he did is only covered in Doctoring 201.
 
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