Zadig's journal

Z

Zadig

This will be the place where I document my evolution from being a semi-sucker to being a successful trader.

My brokerage account shows 39.29K right now. I would think turning it into 1M by the end of 2023 is possible :)

I will report every single fuck-up and will post about anything at all that relates to my trading.

There might be some discrepancies in the numbers due to currency difference. Total account balance and daily PnL will always be in EUR and individual trade currency will usually be USD (but not always). I won't specify the currency.

The goal is to stop sabotaging my results by taking trades I would be ashamed of - such as revenge trading with 4x my usual size.

I will be trading 1 gold contract or 2 small silver contracts until I feel like I am able to have enough discipline and consistency to consider increasing size. I am open to trading other markets but only if I am able to find instruments that give me a similar position size. For example I would love to trade natural gas but I simply don't have the capital for that, except for a short scalp.

I never want to lose more than 2% in a single day, to start with. My initial risk tolerance is
-1% = bad day
-2% = very bad day
anything less = fuck-up
 
I do like to have a long term bias even though I am a day trader, in case I occasionally catch a trend that I can stay with. I will be discussing this too.

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I think there is more upside to gold, and we won't go back under 1700 before a long time. I will assume I am wrong if yields aren't range bound but proceed to break decisively the neckline at play now :

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If I am right, seasonal tendencies will be respected and gold will be higher in the end of February than it is now (seasonals failed in 2020 - yields were poised to go up)

If inflation gets really crazy, yields and gold could start going up together but I am not betting on that.
 
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are you trading futures from Comex?

I can't see the images.
perhaps you can open this ET in the 'incognito window'

All the best mister.
 
Thank you!

Yes, I am referring to GC and SIL (SI is too large for now).

The pictures showed in the preview. Incognito mode didn't help. Will try another host.

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Thank you. Good luck to you too ! Will start trading next week.

Macro-observations follow up : confirmation that yields are probably not going to shoot up for a while. I am watching DXY carefully too, I am not convinced this is a major double bottom reversal with USD shooting up either. Odds are it will go back into the range so no major threat to a precious metals bullish scenario yet.

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I prefer to trade the short side but everything seems to go up these days. Only thing I can think of in a beautiful downtrend is JPY.
Oh and today was a sweet flush of Russell longs looking for that breakout and new leg up to infinity and beyond. Was kind of expecting that one.
 
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Little warm up, high probability scalp on a 5min chart. Stop was too tight for this time of day, got stopped out. Reinitiated the trade. Touched my limit take profit order without filling it before fizzling out. Got out with 5 ticks minus commissions : peanuts

This has happened countless times, I think I will use "market if touched" orders to take profits from now on, pay the spread, at least I'll be out where I want out.

I remember reading that it is important not to leave too much edge in the bid/ask spread by using limit orders at least 50% of the time. I will try entering the market with limit orders when not in breakout mode.

I really like the idea of only trading "at the market", in when I'm feeling it, out when/where I want out but I'm afraid the spread will kill me on 5min charts.
 
GC strong support at 1784; strong resistance at 1812. Let's see if the core PCE number gets us out of this range. I suspect we will chop some more. Bias down for the day.

2 points : flag within an expanding pattern. Not exactly a trader's wettest dream but seemed good enough

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Can't seem to find a way to make images smaller and clickable, it would make this journal more readable.
 
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Zadig said:
GC strong support at 1784; strong resistance at 1812. Let's see if the core PCE number gets us out of this range. I suspect we will chop some more. Bias down for the day.

2 points : flag within an expanding pattern. Not exactly a trader's wettest dream but seemed good enough

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Can't seem to find a way to make images smaller and clickable, it would make this journal more readable.
More...

great mister.
you should get reward : risk ratio of > 10

gold went down first, followed by copper, crude oil, natural gas ...

yesterday the gold price range was rather huge at 20 points.
but its movement was rather choppy.
 
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8 ??? I can't stand losing 10-20 times in a row and it is very likely if I aim for 8 times my risk.

I suspected it would drop more but I am a chicken. Could have grabbed 10 points with hindsight 20/20
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Actually, I should have looked at silver, the short case was even more compelling. I would have had the confidence to hold this one much longer.

That's ok. 0.5% day
It's sunny out there.
 
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