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Trading Journal of a Top Futures Trader


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  #71 (permalink)
TopKoreanTrader
Seoul Korea
 
Posts: 162 since Sep 2024
Thanks Given: 5
Thanks Received: 15


TopKoreanTrader View Post
CANCEL, Entered LONG at current price 71.74

Will add 1 contract at 71.45 if price comes down.


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  #72 (permalink)
TopKoreanTrader
Seoul Korea
 
Posts: 162 since Sep 2024
Thanks Given: 5
Thanks Received: 15

SHORT NQZ24 20112, STOP 20125


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  #73 (permalink)
TopKoreanTrader
Seoul Korea
 
Posts: 162 since Sep 2024
Thanks Given: 5
Thanks Received: 15


TopKoreanTrader View Post
SHORT NQZ24 20112, STOP 20125

STOPPED, RE-ENTER SHORT 20128, STOP 20135


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  #74 (permalink)
TopKoreanTrader
Seoul Korea
 
Posts: 162 since Sep 2024
Thanks Given: 5
Thanks Received: 15


TopKoreanTrader View Post
STOPPED, RE-ENTER SHORT 20128, STOP 20135

stopped again, re-enter SHORT 20129.75 STOP, 20135


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  #75 (permalink)
TopKoreanTrader
Seoul Korea
 
Posts: 162 since Sep 2024
Thanks Given: 5
Thanks Received: 15


TopKoreanTrader View Post
stopped again, re-enter SHORT 20129.75 STOP, 20135

stopped


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  #76 (permalink)
TopKoreanTrader
Seoul Korea
 
Posts: 162 since Sep 2024
Thanks Given: 5
Thanks Received: 15

SHORT NQZ24 20130, STOP 20150


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  #77 (permalink)
TopKoreanTrader
Seoul Korea
 
Posts: 162 since Sep 2024
Thanks Given: 5
Thanks Received: 15


TopKoreanTrader View Post
SHORT NQZ24 20130, STOP 20150

STOPPED


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  #78 (permalink)
TopKoreanTrader
Seoul Korea
 
Posts: 162 since Sep 2024
Thanks Given: 5
Thanks Received: 15

SHORT NQZ24 20150.5, STOP 20160.75


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  #79 (permalink)
TopKoreanTrader
Seoul Korea
 
Posts: 162 since Sep 2024
Thanks Given: 5
Thanks Received: 15

SHORT NQZ24 20165, STOP 20195, 2 contracts


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  #80 (permalink)
 
jlabtrades's Avatar
 jlabtrades 
San Diego, CA
Legendary and occasionally successful index futures day trader
 
Experience: Intermediate
Platform: Tradovate / Webull
Broker: Tradovate
Trading: Futures / 0dte SPY
Frequency: Many times daily
Duration: Minutes
Posts: 518 since May 2023
Thanks Given: 213
Thanks Received: 365


TopKoreanTrader View Post
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.

Wow sorry to hear you've had such a troubled past, thats always difficult to hear. I hope you have success in the futures market going forward. When you say "Don't trade futures" but then also compare it to gambling, Im curious what your strategies and metrics looks like for you trades. There are certainly times when some trading may look like gambling, but the hope for all traders is that they find a strategy that when paired with proper risk management and sizing, its less gambling and more of a business.

I've been trying to follow your journal the past day, and all of these entries are quite overwhelming, could you perhaps instead post 1 reply per day with your total transactions you want to share? Also showing a chart or some other visual aide to share what you are seeing / why you placed the trade would be great for other users to follow along


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Last Updated on October 3, 2024


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