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Thursday, July 3, 2014

**Live** Day Trading /CL Futures - 7/3/14 Update

Oh, I really hate weekends and holidays! No trading! (yeah, I know...get a life!) But this is my passion, I'm afraid.

When I started trading this morning, I seemed to pick everything going in just the opposite way from my trade. As much I stared at the charts and rationalized about the trends and the news and all that malarkey, I just couldn't seem to pick 'em.

This I noticed had a very detrimental effect on my self respect, my self esteem and the mood of my new morning. It suddenly hit me that when we trade, we bring a lot of old baggage with us from the past. Traders have psychological issues to overcome in this, as in every other kind of relationship in their lives. This one is a hottie because it involves MONEY...(the other hot topic is SEX, of course). And so for me, I see it as an opportunity to look one more time into myself, and clear out some of that baggage that I so love to lug around from childhood and right through old age.

This stuff is very deceptive...tricky...subtle. Unconscious. Unless you deliberately dredge it up and deal with it.

So what's this crazy woman going on about now? The last thing we need is psychobabble. But when those nasty little trades I circled on today's sheet, those reasonably "large" (compared to how I trade usually) losses gave me a little reminder.

Am I good enough to trade?

Are people making fun of me and my baby trades/baby fund?

Do I even deserve to have money? I don't seem to handle it so well in the real world.

Is my mother turning over in her grave?

That's just a little sampling of what flew through my brain this morning as I tried to hunker down and get very objective about this situation.

Eventually I talked myself up and out of the fugue state I was in...but I thought it was worth mentioning that you trade with your WHOLE self, not just the tiny piece of your brain that likes winning.

As you can see, the day turned out all right. That's because I've been dealing with my sh*t for a very long time and as well as overcoming fear and greed in the market place, I am onto myself and not about to induldge in self pity, self loathing or any other kind of negative thinking that will deter me from my goal of turning $5000 into a respectable trading fund. However long it takes. Let them laugh, let them jeer. We're all in this together, so who laughs last, anyway? I'd say the Big Boys who always win, no matter what happens. All those bankers and investors that went scott free while the rest of us went down the tubes....oh just the thought give me my grit back! Okay, updating my fund herewith:

  • Date--------------- # of Trades--Daily Profit---less fees -----$5K Fund Balance
  • June 26, 2014------10 trades-------$200.00 --------77.00 ------- $5,123.00
  • June 27, 2014------7 trades--------$230.00 --------49.00-------- $5,304.00
  • June 30, 2014------8 trades--------$250.00-------- 56.00-------- $5,494.00
  • July 01, 2014-------18 trades------$810.00--------129.50-------- $6,174.50
  • July 02, 2014------1 trade--------($470.00)------- 3.50-------- $5,701.00
  • July 03, 2014-----17 trades------ $340.00--------119.00---------$5,922.00

  • Happy Trading!


    1. Any winning trade is a good trade. I would rather make $10 at a time than lose $300 on one. Be proud of your baby trades. And call TOS to tell them to lower your commission. You may not be their biggest account, but they are still making a lot of money from those numerous round trips and should be willing to work with you.
      I feel the same as you regarding weekends and holidays, but I do believe we can trade the indexes til 12 noon July 4th.

      1. Thanks, Jeri~ I didn't think I could negotiate fees until I had a larger fund, but I hope you're right. I'll call next week and see. Your support is always sooooo
        welcome. Hope you're having a great time with your new ideas.

    2. I think you should be very proud of yourself. An 18+% return in a week on your original investment is fantastic!

      1. Thank you! I'm hoping it's not just some fluky thing, but continues. I am proud, but tremulous! Appreciate your reading and commenting more than I can say.

    3. I asked TOS To lower my rate since other brokers offer lower rates. I was still in PM. They said once I start tea dinging they would look at my volume and account size and try to help. I've seen people say they got $5 rates from TOS. Let us know how you make out.

    4. Will do! I'm calling them Monday for sure. $2 would be a big help! They're taking over 30% of my profits right now. Thanks, Adam!

    5. Hi there.. hardly ever reply but ure blog is such a replica of what i am doing.. me too trying to trade

      CL in the mornings after now going back to work full time.. been trading futures just for sometime.. with

      CL its 1 or 2 contracts with a 9 and 15 cent target with an intiial 10 cent stop and i try to move it to

      BE+ asap.. also been trading options now abt 3 years and loosing just listening to a service or taking on

      too much risk.. now been trying out JC's squeeze and its working pretty well.. but i try too much. so

      gonna stick to trading the QQQ for intraday moves (if possible remotely from work) to get a 50% profit

      once 5 min sq fires.. would be wonderful to share ideas.. please do keep in touch at jaysubr14@gmail.com
      and btw thanks for taking the time to keep this blog updated

      1. Hiya Jay! Really good to hear from you! I love to hear what others are doing. I think the Q's are soooo interesting. I have a set of disks by Darlene Nelson Powell, "The Q's" and I used to trade them in the beginning. I've been watching the disks again lately (well, started but haven't finished) so when I've got my fund
        built up a little, I may try my hand at that again. Yes, yes, share ideas!! And I'll blog about whatever I do. But right now I've just got to get this fund up to an amount where I'm not so limited. Stop by, and I've got your email on my buddy list now!
        Many thanks,

      2. Hi, where did you get your training for trading futures? I traded years ago and would like to start again, but I don't know where to get reliable information.

      3. Well, if you look at the paper trading section (at the bottom of the Index) you'll see that I basically taught myself. But a good friend passed on the basic
        information that she was doing this and introduced me to the "Active Trader" on thinkorswim. Once you learn the AT, the rest is pretty much up to you.
        Oil goes up and down. It's like flipping coins, but more focused.

    6. Hey BAJ: thanks for ure comments... i checked some of ure trades on CL for 7/3 and would like to chat with u.. i think if i may comment.. u are getting chopped a lot.. my opinion its better to take easy trades and let them ride if they pan out or not trade at all.. but urs is more a scalping style..Im using TTM squeeze and if u are interested we can chat about it on skype or gmail.. the idea is to take the trade in the right direction of the C wave when the sq. fires.. can share if u like.. cheers J

      1. I googled TTM Squeeze and found this. I notice John Carter is on Tasty Trade videos too, so I'll do some research and be in touch. Looks good, Jay! Thanks!

      2. https://www.youtube.com/watch?v=JVeBrkHdSY4

        try this again TTM Squeeze