Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Well, I didn't intend to trade but I peeked at the charts on my iPad and I saw a setup I wanted to take. I also noticed that the market hadn't performed as I had expected and I was disappointed that I had sat the day out. I was expecting a slow drift higher but I guess I was mixing in my memories of the ES.
It was after 10:30 AM when I fired up my computer. I'm usually done my this time of day.
I'm trading smaller now as I prepare to go live. I'm also exiting trades that go against me much quicker. This tends to lead to a bunch of small losing trades until I get confident on a direction. I think I'm going to start waiting a little longer to start trading or stick to my original analysis which is usually right. Had I done that today I would have had much better results...and a lot fewer trades.
I just wanted to add that it seems TST is going to be the route I choose to go live. It just makes the most since considering my account balance. So I'm practicing with TST in mind, trying to stay within the imposed limits. I'll likely start a trial next week. Wish me luck!
Today was frustrating. I entered too early into my first trade and was then distracted by a emergency request from one of my IT clients. Had I been trading live I think I may have just set my stop to breakeven. But I know I take more risk in sim.
Having to deal with the client's issue, I was not able to focus on the market, so I put in a sell stop at a logical location and went back to helping my client. Went the order was executed, so was many others and I ended up getting slipped by 3 ticks. My target was in the $49 area. The market went in my favor 18 ticks but retraced to my entry price and then put in a higher low on the next move down. It then returned to my entry price for a second time and after putting in a higher low I decided not to press my luck and moved my stop to b/e +1. After stopping me out, the market only moved 4 ticks higher before heading back lower, eventually reaching my initial target. I did get a couple pieces of that move but my results are nothing like they should have been. Oh well, we all get another chance tomorrow.
I'm thinking about starting on FIO journal. Doesn't seem to be hurting my result any. But it may help them.
I use a journal now, Tradervue. But it's private. However, I think twice about marginal trades when someone else will see them. That why I'm thinking I might benefit from having a public journal.
Today I worked really hard to stay with my long trades. It wasn't easy, and I bailed on the last contract. Target was reached soon after.
I'm also trying to stay under 5 contracts per trade which would meet the requirements of a $50,000 combine. But I still think I might do a larger combine just to have some wiggle room.
My confidence is increasing. I'm exiting trades I'm not comfortable with much sooner. Still need to work on my patience but...sometimes, just want the trade to be over with.
Probably won't make a single trade today. I was up until after midnight working on client computer issues, so I'm sleeping late this morning and I'm not feeling well rested. Also, the market usually doesn't trade to my liking on your report days and with rollover approaching, the volume is not to my liking either. So today would be a great day for me to sit it out.
