putting all my efforts

just arrived at "office", couldn't trade this morning, I was with my daughter, missed a good setup on the european markets, please take a look at my charts.

I want to post this so that I can have a kind of backtest of my strategy, I can check the good set up that I missed and have a kind of statistics..

comments are very welcome
 

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based on your account size, if you trade oil future with wider daily loss limit, your monthly goal could be easily achieved when having appropriate strategy or scientific sounding modelling.
 
Hello,

sorry to posting only now but I had a friend here near me, went short on resistance on NQ and COMPX, after I noticed a kind of stop running action and a nice bearish candle on 5min and 1 min.

stop was $50 and profit $100 just on a support, considering that I don't expect big movements until fed.

this is why I took profit at $100, I was tempted to reverse also the position but I had a clear support only on NQ.

there was a friend here and I told him, if I was alone I would had entered the trade now instead of waiting for a possible stop running, so I didn't took the trade and shorted when I had more signals.

maybe I should pay someone to stay here with me. :D
 

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04-29-2011

number of trade: 1
p/l: +$100
commission: $4,72

TOTAL: +$95,28


Today I have to stop here (can't stay here untill fed too late for europe), the real high probability trade was this morning on FESX, unfortunatly I was not there, I just get $100 - $4.72 (commissions) but I feel better since I saw my strategy would have worked very well this morning.

I have to say that these last days I felt very very bad, since after one month trading just 1 contract on NQ I was up $2700 and I actually had 8 straight days negative/flat, for a loss of $1300.

It is important to notice that in these 8 days I broke my max daily loss rule twice for a total of $450 so $1300 - $450 is $850...

twice I missed 2 faboulous set up with FESX in the morning (one today) because I was not there, and so I can say that even after disastrous 8 days it would have been ok.

will keep working hard to become profitable.

attached todays trade
 

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Quote from dejavu8:

based on your account size, if you trade oil future with wider daily loss limit, your monthly goal could be easily achieved when having appropriate strategy or scientific sounding modelling.
More...

Hello dejavu8,

not sure I have understood what you mean, why are you suggesting oil future instead of NQ-ES-YM-FESX?

is there any difference ?

please let me know I'm very interested.
 
hello again, some have suggested me about trade for some time in sim mode to see if my strategy is profitable and to fine tune it without stress, I reply only now because I didn't have the time to replay to everybody.

I copy here a message I sent in replying to a private message.

I already decided to learn to trade my method in a simulated account, as I wrote on the journal I moved all my stocks to an account where I can't sell online and where I can't trade with that money, I decided to simulate on a tradestation battered account that was very close to a margin call (and if I want to send funds to this account I should go to the bank, sell stocks and make a transfer), but in march I started trading for real with the little money left there and actually in 1 month I started to gain and the account went from 2800 to 4900 I was happy since it was a very good curve, no important drawdown, etc.. but these last 8 days I never had a positive day and I was so nervous, and I broke my max daily loss rule twice, and actually the account now is at 3500, but even with 8 straight days without gaining if only I would have respected my max daily loss, now the account would have been at 4000...

so don't worry, simulated trading is waiting there since the margin call will be at around 2500... and I would have no choice but to simulate, and of course i will do it with putting all my efforts.

many thanks again
 
Quote from darktrader:

why are you suggesting oil future instead of NQ-ES-YM-FESX?

is there any difference ?
More...

the volatility of oil future offers much better trading efficiency and fun than index futures. you could check CL Redux thread for some info.
 
Nothing you post indicates any reasoned view of markets and how they fluctuate, which is a prerequisite for rational trading, since traders make money precisely from price fluctuations. You are just throwing money into a flaming pit and if you continue to trade, you will ultimately end up with nothing, even if you briefly attain some level of positive results.

Save yourself and your family the grief of such an outcome.
 
Quote from logic_man:

Nothing you post indicates any reasoned view of markets and how they fluctuate, which is a prerequisite for rational trading, since traders make money precisely from price fluctuations. You are just throwing money into a flaming pit and if you continue to trade, you will ultimately end up with nothing, even if you briefly attain some level of positive results.

Save yourself and your family the grief of such an outcome.
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that's not nice. he is putting in all his efforts, don't discourage him.

you should encourage him, give him spiritual support, he has a family to support.

Now say something nice, like:
you will make it,
you can do it,
yes, you can,
you will be rich,
you will be very very very rich,

If you say he can't do it, he will go into a depression and possibly commit suicide. I know a guy who was very depressed and was unable to pull the trigger in trading and then killed himself.

note 1: he is probably already depressed, because he chose the name: darktrader. He is trading in the dark, probably a basement without windows and sunlight, shutting himself in the dark corner.......

note 2: apologize to darktrader and cheer him up. Say sorry to him.

note 3: then slap yourself 10 times and say: "I will be a nice person. I will not hurt other people again."
 
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