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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.


    1. Hi, I've been following your journal for quite some time now, excellent read. May I know what strategy are you using for entering trades above?

    2. Hi, thanks for writing. If you go to my Index at the top, you will find (at the bottom of the Index listing) the DAYTRADING FUTURES section. I am simply scalping
      (in and out within a few minutes, over and over) Sweet Crude Oil futures (/CL) with no options involved. It is just a way of sitting and watching your chart and deciding
      if the futures will move up or down. Basically a "monkey" game, not much strategy. But it's quick, and Crude Oil is volatile, so if you read the posts under that
      section, yoiu will see to set your charts and indicators for short settings, not the usual. When RSI springs up, I sell, and when it points down, I buy it back. All very
      quickly;. You can see the times of the trades right on my Update sheets for each date.

      Happy Trading!

      1. Hi, thanks a lot for taking the time to reply. One problem I have with scalping futures is that we're getting a 20 minutes delay on a paper trade account. I imagine the REAL thing would be a lot more hectic considering the chart is being updated every millisecond. On paper, things are very slow and relaxed, my biggest fear is the transition from a paper trade account to a live account is going to be some sort of "culture shock". Trading options with the 20 minutes delay is fine since I'm not planning to daytrade options. I'm hoping to hear your opinion regarding this issue :)

    3. Hi again, sorry to spam but please disregard my last post. I just realized that prices tend to jump before the market opens :/ My bad.

      1. Actually, I hadn't even thought about that, but TOS platform (the paper money account) says "Real Time" up in the corner and it moves pretty fast, so I always
        thought it WAS real time. It might be a little different, though, so you may be absolutely right. But I don't think it's anything close to a 20 minute lag, as you
        now agree, I think. :-)