QM Trading Journal

Quote from Notes123:

Start an account with $2700, trade QM. Was planning to trade CL, but the margin went up, so I settle with QM.


Wish me luck, my fellow traders.
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Don't know why u want to start $2700 trading in energy market. But regardless, u are doing the right move of quitting.

To all small traders:

More than 90% of small traders lose in a "spectacular fashion." They just lose!!!!!


Quote from Notes123:



So now I don't want to trade anymore, this hobby is getting expensive, I have lost interest. I don't enjoy it anymore.

Thread closed.
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Quote from Notes123:

you are right, if I had a bigger account, I would hold it for a few days. Shorting oil at this price has little risk.
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I disagree here.

Daily chart: Oil established triple bottom support around 106.00, higher than the previous pivot low, in a strong uptrend. From the overnight session through the close today, price broke through the three previous days' highs, then broke through the 4/12 high, pulled back and found support at the 4/12 high (previous resistance becomes support) and closed nicely above it.

There are no short signals here for swing trading to the short side. On the daily chart there is airspace right now up to 114.05.

If you have a big enough account you can trade any direction anywhere and most likely come out with a profit at some point, but you were trading a small account. Trading a small account, you have to learn how to trade with precision. Stops are protective, not there so you get shaken out.

On 4/12 and 4/13 price found support (buyers) around 106.00. Yesterday morning you watched price come back down to test the 106.00 level and again found buyers, twice in a row, back-to-back 5-min bars. You immediately take a long position there with a small stop loss @ 105.95, because a break of that 105.98 level would be a strong short signal after all that support there.

Ask yourself, if you took a swing long position somewhere close to 106.00 yesterday, would you have any reason right now to exit your position?

If I'm thinking of taking a counter-trend trade, I always ask myself what reasons do the other side have for exiting their positions and not buying or selling more? If there are no valid reasons for exiting ("too high and "too low" are not valid reasons), then I wait patiently for a value entry in the same direction as the trend.
 
Quote from NoDoji:

I disagree here.

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One word: head-and-shoulder.

Head is 114, shoulder is 112. If I have a big account, I would short right here right now.
 
Quote from Notes123:

One word: head-and-shoulder.

Head is 114, shoulder is 112. If I have a big account, I would short right here right now.
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All I see in the few posts I glanced was small profits and large losses, under capitalised and trying to trade winds , not the trends.


Take a long break .
 
Quote from oilfxpro:

All I see in the few posts I glanced was small profits and large losses, under capitalised and trying to trade winds , not the trends.


Take a long break .
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Wow, this is one of the most pertinent posts I have seen.

You are right on the point. That is the typical way of traders blowing up. I showed how traders fail in the micro way. The way Amaranth failed is the same as the way I have shown. The difference is size: billions vs. thousands.

I didn't give the reason of the failure. I know the reason of the failure, I think most traders of a few years of experience also know the reason.

Yes, I will take a long break.

Strangely enough, it's this moment that I feel I am ready to trade properly.

Did I feel the same way before, many times?

I will probably go back to the old way. I guess I need a break to put things in perspective.
 
For the purpose of testing a method, I will post results of demo trades of one contract of CL. Repeat: one contract of CL, demo trades, for the purpose of testing a new method.

Last Thursday, 4/21: +320.

Monday, 4/25: +277.
 
trading note...demo traded the CL today...

+.64 ($640.00) on 7 r/t...man, if I could do this real/live over and over and over...day after day...that is where I want to be...
again, was just the demo...
 
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