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Wednesday, May 28, 2014

/CL Update - So...what does a BAD day look like?

Had to go work today, so I purchased a couple of contracts this morning (sweet crude oil, natch) thinking they would go up when the market opened. I took off, went to work, came home around 2:30 and Yikes!

Here's what a bad trade looks like. I'm long 2 contracts and I'm down $2,620. (Since I'm ahead in total YTD by $5,000, this is NOT a trade I want to sell right now!)

This is where emotions and control of them come in. It would be simple for a lot of novice traders to go nuts and quick, quick sell these at this big loss hoping not to lose even more. That would not be me. These are July contracts. Good for a long time yet. I am going to sit on them until the price goes back up. Patience and no fear! Gotta have it.

You will notice the chart plunges as well as the Active Trader ladder doesn't even have my buy-price (104.16)showing, it's dropped so much.



$104.16 is the price I paid. I have a sell order set for $104.21. We shall see....



Tuesday, May 27, 2014

/CL Update - 5/27/14

Holiday weekend, not a whole lot of trading going on -- and certainly not me.



I'm busy working on ideas to get a real money trading fund back, so watch this space.

FUTURES CONTRACTS HAVE EXPIRATION DATES!~

Meanwhile I want to look into the Expiration Dates of Futures contracts. They are contracts and they DO expire on certain dates, so you want to be sure that you have disposed of yours accordingly and not get caught in expiration. There are calendars for Futures Expiration you can google. It looks like Oil expires about the 20th of every month.

You will notice on Think or Swim that each monthly contract has a slightly different "name" -- it's not just /CL if you want to identify oil by the particular month. I believe the default of /CL is the current month. /CLN4 is apparently a July contract. So I need to investigate this. (what happened to June?)

If any of you readers KNOW this stuff, PLEASE help us out and leave a comment, teaching us.

Saturday, May 24, 2014

Curses! Foiled Again

Well, I put my tiny mind to work on a scheme to use the Active Trader ladder (currently used by me for /CL crude oil Futures) for stocks or ETFs. My theory being that if I put a few hundred dollars into a fund (rather than the $5,000 it would take to fund a Futures account), I could trade wee baby stock or ETF trades, making $10 a day or some such lightweight thing...but in REAL money, and slowly build myself a real money fund. Just as I doubled my play money fund.

Might not be the most exciting trades around, but REAL MONEY. I'm tired of the paper money. Sounds good, no? I got really excited!

NO.



I had a thought...and went uh oh, and got on the phone with Think or Swim pronto.

Tell me, sez I to the broker customer rep, that the Pattern Day Trading rules that apply to option trading do NOT apply to trading stocks or etfs.

I can't do that, sez he. They do.

SEE MY BLOG POST regarding day trading regulations.

My heart sunk like a Liz Taylor diamond in a straight up martini. Hopes and dreams quashed again.

But I shall get my trading fund back. Somehow.

Thursday, May 22, 2014

/CL Update 5/22/14



Okay, here's today's update. Still climbing, but I really didn't have time to trade much. I believe i'm satisfied at this juncture, that trading Sweet Crude Oil futures in small increments (day trading) works! And I'm not terribly focused since I'm working a part time job, writing a book, caring for three animals, and trying to win the lottery! Paper trading is not my idea of a good time. But when the market doesn't support the "contrarian view" of Tasty Trade, I choose to do futures!

When/if I get a real $ fund again, AND the market decides to stop being insane (go up, go up, never come down, go up, go up....like a bad fantasy), then perhaps I'll get back to my option trading (which I dearly love, but I like winning better.). ##

Tuesday, May 20, 2014

/CL Update 5/20/14

It's been good trading the past few days, though there have been some really BIG swings.

I wanted to point out something. I think I have it figured out (but not 100% sure). When I hold a futures contract overnight (and I usually DON'T, since I'm basically day trading) there is some kind of accounting that goes on, and my fund is adjusted based on current prices. Take a look at the next to bottom line of the last report here - the night of 5/19/14 and you will see I got nailed for $460 out of my fund!



I let the 2 contracts "ride" overnight (since it was losing) and sure enough, it bounced back and I was able to sell it for $20 more than I bought it for. And you will see that I got back my $460 adjustment from the night before plus my $20 profit to equal that final posting of $480.

I haven't had anyone at ThinkOr Swim tell me why that Mark to Market, Official SettlementPrice adjustment is done. Some traders say it's just an accounting function at the brokerage, for closing price adjustments at end of day? I'm thinking it only appears on my account IF I have an OPEN trade held overnight.

Anyway, still doing well with Crude Oil Future Daytrades (paper money account).



  • Date--------------- # of Trades--Daily Profit---$5K Fund Balance
  • March 25, 2014-----18 trades-----$415.08-------- $5,415.08
  • March 26, 2014------3 trades-----$678.19-------- $6,093.27
  • March 27, 2014------9 trades-----$157.50-------- $6,250.77
  • March 28, 2014------3 trades----($427.76)--------$5,823.01
  • March 31, 2014 ---- 4 trades----$195.71----------$6,018.72
  • April 1, 2014---------6 trades----$377.95----------$6,396.67
  • April 2, 2014--------15 trades---$642.02-----------$7,038.69
  • April 3, 2014--------10 Trades--($379.40)---------$6,659.29
  • April13, 2014--------1 trade--($30.00)------------$6,629.29
  • April 30------about 100 wee trades $442.61........$7,071.90
  • May 1, 2014 (count the trades yourself)----------$7,528.62
  • May 9, 2014 -------45 trades --($27,44)-----------$7,501.18
  • May 14. 2014---- 37 trades---$1,485.62-----------$8,986.80
  • May 20, 2014------24 trades---$750.54-------------$9,737.34


  • So I've almost doubled my money since March 25, 2014. That's an average of $2300 per month of income. Would that it were real money!!

  • Friday, May 16, 2014

    /CL Update 5/15/14

    You'd have to be following this series for this to make sense. See earlier "Day Trading /CL Futures" posts in the Index. This is just my results from 5/15. Very little time to trade, a workday.

    Wednesday, May 14, 2014

    /CL Update 5/14/14

    Well, another good trading morning. It is easier to make money when you HAVE money, and trading 2 contracts now makes it a lot easier to earn than when trading 1 contract. Soon, hopefully, I'll be able to trade 3 contracts. OR diversify and look into trading some other commodity if I can find one that interests me.

    Here's the detailed trades yesterday and today.



    So here's the latest tally, remembering that this is a papertrading account, and I started on March 25th, 2014 with $5000. I'm trading nothing but sweet crude oil futures, now up to 2 contracts at a time:

  • Date--------------- # of Trades--Daily Profit---$5K Fund Balance
  • March 25, 2014-----18 trades-----$415.08-------- $5,415.08
  • March 26, 2014------3 trades-----$678.19-------- $6,093.27
  • March 27, 2014------9 trades-----$157.50-------- $6,250.77
  • March 28, 2014------3 trades----($427.76)--------$5,823.01
  • March 31, 2014 ---- 4 trades----$195.71----------$6,018.72
  • April 1, 2014---------6 trades----$377.95----------$6,396.67
  • April 2, 2014--------15 trades---$642.02-----------$7,038.69
  • April 3, 2014--------10 Trades--($379.40)---------$6,659.29
  • April13, 2014--------1 trade--($30.00)------------$6,629.29
  • April 30------about 100 wee trades $442.61........$7,071.90
  • May 1, 2014 (count the trades yourself)----------$7,528.62
  • May 9, 2014 -------45 trades --($27,44)-----------$7,501.18
  • May 14. 2013---- 37 trades---$1,485.62-----------$8,986.80


  • By the way, my total commissions/fees to date are about $1800, but not sure if that's accurate because of the paper trading account? But that would mean about 20 cents on the dollar if it's accurate. Sounds fair to me. But I'm not at all sure this account shows commissions precisely correct.

    ##
  • Tuesday, May 13, 2014

    /CL Update 5/13/14

    Did okay yesterday and today. Trading very lightly and only in the mornings. (I have a proper job now, so that slows me down and with good results).

    Saturday, May 10, 2014

    /CL Trading versus The Real World Job!

    I've started a new job - accounting/office management on a part time basis and it's taken me away from my little papertrading venture here. Not that I haven't sneaked in a few trades this past week, but it's very difficult to trade if you are not sitting at the computer and focused. I have been FAR from focused as I learn a new company's routines and make plans for systemizing their computer, et al. I'm enjoying it~!

    Here's the update on my /CL project. I think I've been up and down ike a pogo stick, thus losing $27 in total since May 1st. Too boring to imagine. But that's what happens when you're not paying attention!:

  • Date--------------- # of Trades--Daily Profit---$5K Fund Balance
  • March 25, 2014-----18 trades-----$415.08-------- $5,415.08
  • March 26, 2014------3 trades-----$678.19-------- $6,093.27
  • March 27, 2014------9 trades-----$157.50-------- $6,250.77
  • March 28, 2014------3 trades----($427.76)--------$5,823.01
  • March 31, 2014 ---- 4 trades----$195.71----------$6,018.72
  • April 1, 2014---------6 trades----$377.95----------$6,396.67
  • April 2, 2014--------15 trades---$642.02-----------$7,038.69
  • April 3, 2014--------10 Trades--($379.40)---------$6,659.29
  • April13, 2014--------1 trade--($30.00)------------$6,629.29
  • April 30------about 100 wee trades $442.61........$7,071.90
  • May 1, 2014 (count the trades yourself)----------$7,528.62
  • May 9, 2014 -------45 trades --($27,44)-----------$7,501.18


  • Anyway, with trading, like anything else in life...you have to be kind to yourself. Be very careful and hone in on the task at hand if you want results!

    Sunday, May 4, 2014

    See new INDEX link above

    Dear Readers, For those of you who return to poke around, I thought I'd try to make posts easier to find by creating an Index that links to the various archived posts.

    Hope this is helpful.

    And by the way, I LOVE it when people add comments, make suggestions, argue with me, tell me I'm wrong...it's all good. This is a learning blog, so your input helps lots of people besides me. Also there's a blank "email" space above where you can enter your email and get automatically notified when new posts are put up. I PROMISE you I do nothing with your email addys. I don't even look at them.

    And you might want to read my disclaimer on the New Index above in case you're wondering what the heck I'm up to. (these days, not much but paper trading.)

    Thanks for stopping by! Bev

    Friday, May 2, 2014

    /CL Stats

    I guess as long as I'm playing with sweet crude oil, I'll just keep posting stats until something happens to move me along. Oops the date is chopped off the photo, but it's 5/2/14 on Think or Swim;s Cash & Sweeps page.



    The thing to remember in this experiment is that I started with $5000 on March 25, never having tried futures before, and it seems to be working. I only do one contract at a time. (the limits of a $5K fund as the margin requirement is $3500 approx. per contract. I suppose I could actually do 2 now?)

    As you can see, by the BOT (bought) and SOLD, I've been playing the upside. Is there anything else these days? Jeez.

    ##

    Thursday, May 1, 2014

    Crude Oil Futures ad nauseum

    Yeah, I guess this blog is getting really boring. How much can you say about playing one future contract up and down every day? But hey, if it was real money, it wouldn't be as boring as it looks. And a cursory glance at this stuff IS boring. You'd need to study my posts in great detail even though it's pretty simple stuff to ever get interested at all, (imo).

    I decided to show the "Cash Sweeps" account, to give you another view of my detail trades and how the money accumulates:



    In order for you to be able to read it, I have to color outside the lines, and that will look bad on the page, but to hell with it. You can see the individual trades and how small they are. I did well today, only one losing trade. I'm finding that I do much better in the mornings up to and around 1 pm. than afternoon. You will note that my little $5K fund is now over $7K and I have just been learning and testing. I whited out my account number so nobody can steal my paper money!~ So my fund tally now looks like this:

  • Date--------------- # of Trades--Daily Profit---$5K Fund Balance
  • March 25, 2014-----18 trades-----$415.08-------- $5,415.08
  • March 26, 2014------3 trades-----$678.19-------- $6,093.27
  • March 27, 2014------9 trades-----$157.50-------- $6,250.77
  • March 28, 2014------3 trades----($427.76)--------$5,823.01
  • March 31, 2014 ---- 4 trades----$195.71----------$6,018.72
  • April 1, 2014---------6 trades----$377.95----------$6,396.67
  • April 2, 2014--------15 trades---$642.02-----------$7,038.69
  • April 3, 2014--------10 Trades--($379.40)---------$6,659.29
  • April13, 2014--------1 trade--($30.00)------------$6,629.29
  • April 30------about 100 wee trades $442.61...$7,071.90
  • May 1, 2014 (count the trades yourself)------$7528.62


  • Because I'm still experimenting and getting feedback from other traders, I have changed my little Active Trader Chart to reflect 1 minute candles (instead of ticks) and put moving averages of 8 days and 13 days onto the chart, just to play for crossovers (that match the MACD) I have left the one hour Volume Profile on the chart, however, as I like to see how the volume expands and contracts, hour by hour, besides using the EMA indicators and others.

    Here is my little Active Trader chart now, for the full day:


    But I zoom the chart for the current hour (s) when I use it, so it is easier to see details. The above is just to showcase how the Volume Profile looks for a day.:



    You would need to read earlier blog posts on /CL sweet crude to see the progession of these chart changes and what the whole page looks like in total.