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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!!

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