Youngtrader's Commodity Journal

Out of my H/M spreads at -37. Total loss of $3,500
Bad trade!!! Thats about all I can say about that one.

Covered my 2 shorts in H eurodollar at 97.10 for $150 profit. Then turned around and shorted 5 june eurodollars at 97.50 (extremely lucky that the market traded at that level today!!!).

Sold another 2 es this morning at 1365 so im short 7 es at 1365.

So my total open positions are:

OPTIONS
Short 1 mar 10yr 114/118 strangle from 53
Short 1 mar 10yr 118 call from 35
Short 2 apr 10yr 114/118 strangles from 111 (looking to add more)

FUTURES
Short 7 es at 1365
Short 5 ge at 97.50

Over all a very exciting and profitable day!
 
Quote from Rtrader2525:

whats your target on the es? I was thinking going short as well but it's a little low now for my liking
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Rtrader

Sorry for posting late I didn't see your post on the journal.

My target is 1320 on es. I think this could happen over the next 2 weeks at most. I wanted to add more shorts at around 1365 but missed the opportunity.

If you got short right now at 1360, you wouldn't have to risk much more than 10 points.
 
Quote from startraitor:

Don't be naive. The kid is learning to trade and not posting stupid shit about ubs trading floors.
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Sorry not sure what you guys are getting at here?

Learning to trade? No I am trading, not learning to trade. Although every day I learn a little something more but I don't consider myself a newbie in this game anymore.

Anyway I was taking some heat on my es shorts but but we have pulled back a substantial amount since then.
 
if you dont mind me asking how did you get into the future markets? i kind of want to learn the how to trade these markets since the pdt rule in equities is kind of a burden. im also a young trader myself and have read your journal and feel futures markets might be better suited for me. Did you find better success in futures or equitites? can i PM you to learn more information?
 
college, I ma young guy as well (24) I got involved because of family memebers doing it, it's my favoirte thing in the world man I love it. I would just say to start reading and reading and reading and paper trade thats my advice then when you feel comfortable try it out
 
Quote from CollegeTrader:

if you dont mind me asking how did you get into the future markets? i kind of want to learn the how to trade these markets since the pdt rule in equities is kind of a burden. im also a young trader myself and have read your journal and feel futures markets might be better suited for me. Did you find better success in futures or equitites? can i PM you to learn more information?
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CollegeTrader

I have been around the markets most of my life. I got started investing in stocks when I was 11 years old (right at the very top of the tech bubble lol). I remember buying my first 5 shares of microsoft at a county fair lol!

After that I moved on to scalping NYSE stocks during the summer. That was kind of the beginning of my trading and I got more and more interested from there.

My dad has traded commodities for decades. He has settled down a lot since then but I remember when I was younger (13-14-15 years old) he would literally make/lose 100K a day sometimes. He was a major player in Lumber, Unleaded Gas and S&P. He pretty much stuck to those three markets and traded them in huge size (held 12% of total open interest in lumber one time).

Trading is a thing that once it gets in your blood you have a hell of a time trying to get it out. I have tried to quite trading on more than one occasion becuase you either are having some tough luck or the stress gets too much, etc but in the end we all come crawling back to the markets eventually. What most traders don't realize is that we are slaves to the market......but most are not willing to admit that.

To be honest I really couldn't see myself doing anything else. Its a really fun life but you have to be able to take the good with bad and imo the average person couldn't handle either.

I have found most of my success in futures but I got my start in stocks. I think it comes down to what type of person you are. Think of futures like stocks on steroids!!! You have to have a certain mind set to trade these things but the reward is a hell of a lot better if you are right.

Listen to what Rtrader2525 has to say. He is a smart dude and knows more about the AG markets than probably anybody here.

Feel free to PM me if you want. I am always willing to help.
 
Oh forgot to mention I covered all 5 shorts in the june eurodollar at 97.40.

$1250 profit there

Im kicking myself today for not adding shorts up around 1365 in es when given the chance!!!

(incase you guys havn't figured it out yet I called in sick today at school lol)
 
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