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Diary of The Beard


Discussion in Trading Journals

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  #1 (permalink)
TheBeard
Oxford UK
 
Posts: 5 since Jun 2017
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One thing I've noticed here, that's different from Forex is that more people seem to be willing to stop trading and evaluate the big picture. Forex seem to be a little more immature.

I'm generalising here I know but futures seems to be more grown up. Forex are all about flipping small accounts multiple times, bragging about demo gains, or short term live one, everyone wants to teach and provide signals with very little history, no one seems to do any form of long term backtesting or stat gathering. No one even fucking understand the concept of R. It's all pips and £££.

I've spent over two years trading forex, bouncing around, downloading data into Excel to monte Carlo it's ass.

I've put just about every emotional weight on my shoulders and assigned the solution to Forex. The holy grail. Everytime it doesn't work out I get down. In fact I'm down writing this now.

But now I'm sat here evaluating the big picture. Sorry I can't remember your name but your journal was excellent. You talked about looking at life as a risk reward trade. What's the worst and best that could happen at a given time.

I'm sat here thinking is this the best thing for me to do. And I draw two conclusions.

1. This is the worst thing I could probably try and do.
2. This is the only thing I could possibly try and do.

My intentions for trading were that I felt it was the only way I could possibly earn what I want to earn to live how I want to live. But I knew deep down, or I felt I should say that I would fail. I don't have much sticking power if I'm honest, but the fact I stuck with Forex so long is I guess a small victory for me.

I spend much of my day without access to a PC so my life pretty much is on my phone. This journal will probably contain more personal pondering and pontificating than actual trades but it will be what it will be.

So here's where I'm at with futures.

Watched Alex Hayward webinar and Peter Davies first webinar from the JT free order flow course.

Read the whole course.

Spoken to Peter a few times and feel like a dog trying to hump someone's leg. Was a bit like that in the beginning of Forex if I recall right.

So this will be my home for my trading thoughts. I'd love for you all to join me and thank you in advance for your input.

Looking forward to it guys peace


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  #3 (permalink)
TheBeard
Oxford UK
 
Posts: 5 since Jun 2017
Thanks Given: 3
Thanks Received: 2


So I've been thinking about this alot. Where am I going to take myself in the future.

Even more so since Grantx commented on another post. Now I'm ashamed to say I'm a bouncer. I started learning PA with RTM and it's fantastic. The whole premise is figuring out what the ITs are doing and trying to hop on there backs and let them take you for a ride. So you look for liquidity in FTR, etc. Always aware of tricks they play.

Now it was going well. I was up 300% in 3 months. But then had a bad week and took a huge emotional hit. It really affected me. So I gave it a break and spent some time trying to automate a system. Found loads of ways to make money manually backtesting, then got the bots built and made loads of money auto backtesting, then went live with them and they under performed. Real market conditions seem to take all the profit out of a system. So the system doesn't work. No point complaining about it.

So here's what I know.

RTM works, high R trades with medium win %. Do your analysis, watch the markets, trade accordingly.
My emotions are shot
I have zero discipline
Trading futures using order flow to refine entries but using RTM charting could provide some amazing R trades. Some of these guys hit 100+R trades (biggest 140R on 5 min chart).

Hmm...


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Last Updated on June 20, 2017


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