Trading Journal of a Top Futures Trader

[TopKoreanTrader]

Guys I thank you all for your interests. But I'd like to keep this thread a trading journal with my trades and the results.

My posts need approval by moderators prior of going alive everytime... any way to go around this?

 

[mikeriley]

I have two trading styles, sometimes I enter for a short day trade, sometimes I enter for a swing trade where I could hold the position for a few days, I will be mentioning everything in my posts.

The words you typed sound like complete gibberish. Anyone that's been
in the markets for any considerable time, develop a PROCESS for
consistent profits. A PROCESS of market analysis, either technical,
cyclical, or fundamental of when a market is conducive for entering
high probable conditions. A PROCESS for timing the market
to implement the best risk/reward strategy.

I don't discern any form of process in your writing, which leads
me to conclude you may be another hyped up novice gambler.

Caveat emptor.

 

[RStrauss]

I've been day trading HSI futures for 14 months now and breaking even. This has been the hardest thing by far in my life. I have never done anything as hard as this, putting in so much effort day in day out. The market just seems to have endless micro regimes. When you thought you have figured out / your trading system has conquered most micro regimes, there seems to be always a next regime that you haven't seen which either makes your equity curve flat or go south.

 

[RStrauss]

Hello everyone.

Before I start, to anyone who is interested in trading futures but has not started yet, PLEASE JUST DON'T, I'm saving you a lot of trouble and a lot of miserable days.
From how I view it futures trading is worse than gambling addiction. At the casinos the player has a "REALLY HIGH" 49% winning probability! With futures 99% of people lose. Only 1% win, and probably less survive in the long term.
Also, once you realize that you can make $5000 in 5 minutes "IF" you make the right mouse clicks, your brain changes and it will become almost impossible for you to go back to normal life and be happy with a $100 paycheck for 9 hours of work.

----

About me: I'm 36 currently, I was lucky in my early 20s, had a good business, but I started trading futures and lost literally everything in the course of 5-6 years... business, house, car, girlfriend, friends, family, literally everything. And I even tried to kill myself a few times.

I had to quit but I just couldn't. My only options for quitting were:
1. Death
2. Temporary quitting when I had no more money to trade with.
It was just an infinite loop.

Then I came to the conclusion that I wouldn't be able to quit this addiction until the day I die. So for me, in order to live a normal life I had to find a way to coop with it. And that meant that I had to become good enough at it to at least not lose from trading.

And here I am, now I've been trading quite ok for about 2 years. Since September 2022 I have only lost 5 months out of 25. Never lost 2 months in a row. So after many years of suffering I'm finally doing ok.

----

For the journal I'm thinking about posting my entries/exits in real time here then do a recap everyday. Some days I do up to 20 trades so it may make the thread look a bit spammy, hopefully not too much.

About my trading:
- I only do futures, mostly NASDAQ, S&P, CrudeOil and Gold.
- I have two trading styles, sometimes I enter for a short day trade, sometimes I enter for a swing trade where I could hold the position for a few days, I will be mentioning everything in my posts.
- Even if I'm able to enter 4 Mini-Nasdaq contracts, I only enter 1(Never use 100% of your leverage, it really hurts your mentality). From how I view it, a trader with less than $50,000 should only trade with micro contracts. I rarely add positions when price goes the other way, but sometimes I do (MAX 1 time, same size of initial entry).
- For oil, gold, S&P I sometimes enter 2 contracts from the beginning.

Looking forward to your sharing!

 

[Coin Flip]

Hello everyone.

Before I start, to anyone who is interested in trading futures but has not started yet, PLEASE JUST DON'T, I'm saving you a lot of trouble and a lot of miserable days.
From how I view it futures trading is worse than gambling addiction.

I trade YM and NQ, the learning curve is worth it.

Futures is not a gambling addiction, you yourself have a gambling addiction.

About me: I'm 36 currently, I was lucky in my early 20s, had a good business, but I started trading futures and lost literally everything in the course of 5-6 years... business, house, car, girlfriend, friends, family, literally everything. And I even tried to kill myself a few times.

This should never happen. Many futures brokerages require only $100 to open an account.

Say you put in $1,000 and blow up your account ten times. That is only $10,000.

That $10,000 loss would never cost you your business.

Then I came to the conclusion that I wouldn't be able to quit this addiction until the day I die. So for me, in order to live a normal life I had to find a way to coop with it. And that meant that I had to become good enough at it to at least not lose from trading.

Winning does not allow you to conquer an addiction. There are deeper psychological issues at play, you are still addicted.

And here I am, now I've been trading quite ok for about 2 years. Since September 2022 I have only lost 5 months out of 25. Never lost 2 months in a row. So after many years of suffering I'm finally doing ok.

I recommend you walk away a winner.

Stay away from trading. If you want to invest and buy and hold, sure.

For the journal I'm thinking about posting my entries/exits in real time here then do a recap everyday. Some days I do up to 20 trades so it may make the thread look a bit spammy, hopefully not too much.

If you are still determined to do this journal, I recommend you transfer all of your profits out of your trading account into your savings account, given your dangerous addiction.

In your trading account, keep the bare minimum in capital to trade one micro.

This journal will still be helpful because you are tracking your returns based on trading one micro, and this can identify how much trading ability you have.

 

[Darc]

Over trading is obviously a sign of gambling addiction. I suggest anyone verifies their Edge first via Sim, that'll help lessen the impact of a possible gambling addiction.

Not sure psychological help, helps. Look at someone with an obvious mental illness like @Overnight and ask them if "psychological help" helps.

Maybe a Gamblers help clinic.

Best of luck.

 

[MarkBrown]

Not sure psychological help, helps. Look at someone with an obvious mental illness like @Overnight and ask them if "psychological help" helps.

or better yet just get poopy to belittle you into thinking bad thoughts again.

or you could beg poopy into faking some blurry ass fake statements to show off how great you trade.

either way your doing great by not using your real name cause you can do anything here and someone will worship you.

 

[Baron]

Guys I thank you all for your interests. But I'd like to keep this thread a trading journal with my trades and the results.

My posts need approval by moderators prior of going alive everytime... any way to go around this?

The post moderation requirement you were experiencing has now been lifted, so you are good to go.

 

[TopKoreanTrader]

The post moderation requirement you were experiencing has now been lifted, so you are good to go.

Thank you Baron! Much appreciated!