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Updated June 18, 2024
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March 13th, 2024, 06:31 PM
Marco Island, FL
Legendary Market Wizard
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL MES
Frequency: Several times daily
Duration: Minutes
Posts: 825 since Jul 2022
Thanks Given: 892
Thanks Received: 944
Live trades today
MCL was the market
Trade 1
10:31am short 79.48
10:39am exit 79.49
Result -$1.00
Trade 2
11:26am short 79.10
11:34am exit 79.13
Result -$3.00
Trade 3
11:43am short 79.12
11:43am exit 79.12
Result $0.00
Loss for the day -$8.03
I'm an oil bear right now. The real estate market in China and commercial real estate makes me think oil is going lower. I'm also a contrarian and everyone seems to be bullish on oil.
I bought actual shares of a company last Friday and had the intention of holding long term but sold all today. Stocks just don't interest me.
Can you help answer these questions from other members on NexusFi?
Best Threads (Most Thanked) in the last 7 days on NexusFi
March 14th, 2024, 03:49 AM
auckland/new zealand
Experience: Intermediate
Platform: NinjaTrader
Broker: Ninjatrader
Trading: currency and cl
Frequency: Every few days
Duration: Days
Posts: 2 since Jul 2016
Thanks Given: 13
Thanks Received: 0
blackgrey45
My goal in trading: Don't lose money. How do I do this? Its a trade by trade procedure. I attempt to use a tight stop. Having a tight stop leads to many consecutive losses which is difficult to
handle psychologically. Using and executing a tight preplanned
stop order is not always achieved because I am human and do not like losing money which leads to holding onto losses. Like today, I entered long in the MES and had no stop planned. My typical stop in this market is about 4-10 ticks. This trade went against me 25 ticks before recovering to break even where I closed the trade.
Until recently I was trading for pure enjoyment. This goal precipitated a completely different trading plan. I held losses all day and never closed them out. This was fun because I could root for a trade like a sports team and gambling. I now realize this results in poor financial performance and I can not longer afford to trade this way. I am sure every once in a while I will revert to this style of trading for an emotional release but am going to try to work hard to stick to my goals.
Trading to avoid losing money takes hard work, dedication to a plan, and consistency. I am going to take my goal to not lose money seriously and will look for fun elsewhere, not in trading.
Thinking about how my results will realistically look if I have tight stops of 3-6 ticks, move stops to
breakeven , and hold winner: There will likely be 15-25 losses, 5-10 break evens, 1 winning trade.
****NOT WORK WITH THIS**** Don't lose money... your mind just follow it. Trading is not to avoid losing money.
March 14th, 2024, 11:04 AM
Prince George BC Canada
Legendary Market Wizard
Experience: Advanced
Platform: National Bank Direct
Broker: NBD/BMO/Questrade
Trading: Stocks
Frequency: Every few days
Duration: Weeks
Posts: 1,349 since May 2013
Thanks Given: 264
Thanks Received: 4,281
raymon
****NOT WORK WITH THIS**** Don't lose money... your mind just follow it. Trading is not to avoid losing money.
Maybe if should be phrased don't lose more money than you planned to lose.
"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
March 14th, 2024, 12:55 PM
Marco Island, FL
Legendary Market Wizard
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL MES
Frequency: Several times daily
Duration: Minutes
Posts: 825 since Jul 2022
Thanks Given: 892
Thanks Received: 944
my goal is to protect capital. I do this by closing losses quickly. The other side of it is winners where I try to shoot for a 2:1 win to loss ratio. I use the order book to time my entries. 90% of my strategy is getting the exit right.
Thanks for the comment.
March 14th, 2024, 05:48 PM
Marco Island, FL
Legendary Market Wizard
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL MES
Frequency: Several times daily
Duration: Minutes
Posts: 825 since Jul 2022
Thanks Given: 892
Thanks Received: 944
Trade last night
Market mcl
7:18pm long 79.66
9:00pm exit 79.83
Result +$17.00
Trades today
Market mcl
Trade 1
10:22am short 81.22
10:30am exit 81.28
Result -$6.00
Trade 2
10:44am short 81.40
11:34am exit 80.70
Result +$70.00
Profit for the day +$77.32
March 16th, 2024, 04:36 PM
Marco Island, FL
Legendary Market Wizard
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL MES
Frequency: Several times daily
Duration: Minutes
Posts: 825 since Jul 2022
Thanks Given: 892
Thanks Received: 944
No trades yesterday. Crude had a small range and there weren't many opportunities to capture ticks. See you Monday.
March 17th, 2024, 08:28 PM
Marco Island, FL
Legendary Market Wizard
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL MES
Frequency: Several times daily
Duration: Minutes
Posts: 825 since Jul 2022
Thanks Given: 892
Thanks Received: 944
Live trades tonight in crude(MCL)
Trade 1
7:19pm short 80.63
8:23pm exit 80.68
Result -$5.00
Trade 2
9:07pm short 80.61
9:19pm exit 80.67
Result -$6.00
Trade 3
11:20pm short 80.93
11:53pm exit 80.97
Result -$4.00
March 18th, 2024, 04:51 PM
Marco Island, FL
Legendary Market Wizard
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL MES
Frequency: Several times daily
Duration: Minutes
Posts: 825 since Jul 2022
Thanks Given: 892
Thanks Received: 944
Live trades today in MCL market (crude oil micro May contract )
Trade 1
11:21am short 81.45
11:27am exit 81.50
Result -$5.00
Trade 2
11:40am short 81.57
12:10pm exit 81.78
Result -$21.00
Trade 3
12:12pm short 81.80
12:48pm exit 81.80
Result $0.00
Loss for the day including the trades executed last night: -$50.44(fees included as well, which were $9.44)
March 19th, 2024, 03:57 PM
Marco Island, FL
Legendary Market Wizard
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL MES
Frequency: Several times daily
Duration: Minutes
Posts: 825 since Jul 2022
Thanks Given: 892
Thanks Received: 944
Live trades today: market was MCL
Trade 1
10:11am long 82.47
10:42am exit 82.46
Result -$1.00
Trade 2
10:51am short 82.70
10:57am exit 82.83
Result -$13.00
Trade 3
10:58am short 82.81
11:33am exit 82.81
Result $0.00
Trade 4
11:34am short 82.87
12:05pm exit 82.91
Result -$4.00
Trade 5
12:16pm short 82.93
12:57pm exit 82.93
Result $0.00
Trade 6
2:33pm short 82.71
2:42pm exit 82.78
Result -$7.00
Loss for the day fees included -$37.24
March 20th, 2024, 07:53 PM
Marco Island, FL
Legendary Market Wizard
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL MES
Frequency: Several times daily
Duration: Minutes
Posts: 825 since Jul 2022
Thanks Given: 892
Thanks Received: 944
1 trade today: market MCL
11:02am short 81.39
2:36pm exit 81.39
Result $0.00
This trade was in profit the whole duration and rallied back to my breakeven price where my stop was located.
Last Updated on June 18, 2024