NQ futures
Trader PnL 2015
- Thread starter wiesman02
- Start date
Ok thx I was thinking about trying emini or futures out and remembered I have no idea how that works .
Hello Apophenia,
Please feel free to post your daily P&L! I'm trying to keep this thread alive as I used to follow it as a guest years ago. I'm up about 10% for the month of August.. But my account size is small as well. I'm around break-even for the year (started again full time end of March.. Was paper trading before). I came to the realization that my stop placements were too large and this was slowly eroding my account.
Ok Thanks ! Actually I thought this was your own thread =P Didn't get the concept at first. Unfortunately I don't trade NQ so can't tell about your stops. Even if ES & NQ are quite similar in terms of move. Stops are tricky, what's your ideal setup point / ratio wise ? I've come to see that it's better to reduce SL 1 tick than to increase TP 1 tick. Loose SL aren't that bad in themselves. It's the whole that matters. Maybe wider SL doesn't increase your advantage. In this case I agree it's useless to pay more for the same overall profits. What do you rely on ?
Net: +172
Still find myself getting emotional when I miss entry prices. I was close to chasing entry this morning going long after the market sold off and began to reverse.. however I caught myself right before doing so. If I had chased entry at about 4 points higher, then I would have definitely gotten stopped out as the market sold off abruptly. Ended up setting my price limit and sticking to it, which resulted in a gain of +$161.
My second trade I was not impressed with myself at all. Ended up breaking even, however it goes back to my journal entry the other day when I spoke about changing my trading system to trail the stop-loss in order to protect from small fluctuations when I'm in the money. Ended up getting stopped out and breaking even, only to watch the market turn around and hit my profit-take. Could have doubled my net profit for the day.
Currently conflicted about where the market will end up the rest of the afternoon, so calling it quits.
2 trades, 1 winner, 1 break-even.
Still find myself getting emotional when I miss entry prices. I was close to chasing entry this morning going long after the market sold off and began to reverse.. however I caught myself right before doing so. If I had chased entry at about 4 points higher, then I would have definitely gotten stopped out as the market sold off abruptly. Ended up setting my price limit and sticking to it, which resulted in a gain of +$161.
My second trade I was not impressed with myself at all. Ended up breaking even, however it goes back to my journal entry the other day when I spoke about changing my trading system to trail the stop-loss in order to protect from small fluctuations when I'm in the money. Ended up getting stopped out and breaking even, only to watch the market turn around and hit my profit-take. Could have doubled my net profit for the day.
Currently conflicted about where the market will end up the rest of the afternoon, so calling it quits.
2 trades, 1 winner, 1 break-even.
Attachments
My initial TP is set up at 10 points, while my initial SL is set up at 8 points. As the market moves I'll adjust my TP and SL. My SL will never exceed 8 points going forward, however it could possibly decrease throughout the trading day depending on support and resistance lines. I previously had my SL at 8 points, and would adjust upwards up to 15 points on certain trades, which absolutely killed my account.
For my TP, the minimum I aim for is 4 to 5 points, however I set it at 10 points initially in case the market breaks out. At 10 points +/- it gives me the flexibility to adjust as the market moves, potentially capturing significant moves.
NQ is more volatile compared to ES, so even though the SL and TP in my system may seem large, I find it is best suited for my particular trading system / strategy.
Your first post is over a year ago on #30 Jul 13, 2015. Since then until now I still see you accumulating many losing trades. Luckily, you aren't trading options or else, your account would have been blown many times over. If I were you, I'd spend all of my time to master my trading skills before trading with real money again.
P.S. Just a friendly advice from someone who went through your stage years ago. It took me countless nights for many years without good sleep to master my knowledge and skills in order to get to where I'm these days as a full-time trader. That said, out of every 10 consecutive trades, I only allow myself to make one losing trade or none.
