Trading With The Sharks Today

Swim with sharks for a living.
This week I am actively participating in these shark infested markets because I have the feeling the market will see some significant moves, this theory is based on tech selling off on Friday. Took more trades than usual, but I felt good about each and every trade, I kept my stops small, hence the 66.67% 61.54% win percentage. ZC and CL were my two biggest losers today, no worries, I will be ready for what comes my way this week.
ZC -132 today
HE  +61 despite IB and NT data, not in sync

HE looks a lot different on IB

Better Trading Ahead!

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Committed To Better Day Trading Win Or Lose

Today was a good day! As I typed this, my position was down 10pts, my execution was as planned. I'm claiming today as a good day win or lose because I am very confident that I will be executing my trading plan/method as intended (always room for improvement). I will not and can not blame the market if the CL trade does not work, or anyone else, I accept the fact that the best trades that meet all the criteria will not be profitable 100% of the time, or even 50% depending on the market conditions.

An excerpt from my introspective journaling
"Take pride in the execution.
Take pride in my resolve.
My self-worth and value are not based on if this trade works or fails.
Committed to zero whipsaw trades
Iran Iranian elections are taking place today, could this be impacting the market today, maybe today was a day better not traded? If the trade works, would I still have all these same questions or would I just sit on my high horse and marvel at my technical analysis skills? 

Notice all the words of negativity, it takes a resilient effort to think and speak from a positive and factual frame of reference when facing adversity.

maybe today was a day better not traded because of the Iranian elections?

Trade was based on my trading method that governs my entry, ATM strategy automatically executes predetermined stop loss, time frames, and area of congestion identified before trade execution. My decision to trade wasn't based on Iranian elections. I reviewed the economic calendar for potentially market-moving news.

Better Trading Ahead!
During and after each trade I am taking notes and jotting down ideas about how I can improve my trading, rather it be in my trade preparation, or in how I manage my screens and trade executions.

Benjamin Mays"The tragedy of life is often not in our failure, but rather in our complacency; not in our doing too much, but rather in our doing too little; not in our living above our ability, but rather in our living below our capacities."
- Benjamin Mays

Instrument: CL Jul'17Lot Size: 1

Total # of trades: 1
Percent Profitable: 0%
Avg. Winning Trade: $0
Avg. Losing Trade: $159
# of winning trades: 0
# of losing trades: 1
# of even trades: 0
P&L Total: -$159

CL 5/19/17

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Consistent Trading Success Is Not By Accident

Consistent Trading Success Is Not By Accident

Back On The Wagon For Now...

For the traders who are serious about making enough money to consider trading for a living, luck, and chance is not a strategy for long-term trading success. Phrases such as a trader's edge, money management, and my personal favorite consistency can be read in most every how to guide to trading your own money to financial freedom. These words handed down from old trading wisdom can become so overused, a trader can easily become numb to their meaning and purpose.

D.r. Alexander Elder, the author of Trading For A Living, titled a chapter in his book "Trading Lessons From AA". In this chapter, he provides an interesting analogy to how a member of Alcoholics Anonymous (AA) can stay sober for a few days, and then inevitably fall off the wagon into drunken behavior once again, same as a trader struggles to adhere to a consistent mindset and trading strategy that would prevent them from repeated trading mistakes... lessons learned that are revisited time and time again.

Consistent profits are what every trader desires to achieve and maintain. To reach this level, it is a day to day process that starts first with conforming to your mental approach to trading. A traders logic and mindset towards trading well can easily become out of tune depending on how well we manage our emotions to the forever changing market conditions. Be fair to yourself by acknowledging your trading strengths and weaknesses, by implementing strategies and safeguards.

Consistent Success

One of Many Safe Guards

My goal with every trade that is trending in my favor is to let profits run as far as possible while steadily moving a protective stop to a more profitable stop, once stopped out for a decent profit, I personally must shut down my trading market data to safeguard my tendency for over-trading. By not having an active chart in front of me, the hope and desire that I can hold on to a position to reach new highs are almost completely eliminated [time better spent elsewhere]. Consistent profits built on a consistent mental approach and trading method is the way forward... win or lose.

Instrument: CL Jun'17Lot Size: 1
Total # of trades: 1
Percent Profitable: 100%
Avg. Winning Trade: $+225.00
Avg. Losing Trade: $0
# of winning trades: 1
# of losing trades: 0
# of even trades: 0
P&L Total: + $225

CL 5/18/17 Secured profit, my trading day is over early.
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Trading (CL) on A EIA Petroleum Status Report Day

Getty Images

I felt really good about today, I didn't have a clue about the direction CL would go after the EIA Petroleum Status Report was released, did not want my bias to cloud my judgment. I was confident in my preparation before the trade as you can see on the chart. I  highlighted the 1st hour of the market open and the area of congestion, made a few quick trades, the volatility took out my tight "profit stop", with each trade, my stop was hit quickly. as I type this, I am tempted to get in again, maybe CL will reach R2?

I'm posting this chart early because I will be shutting down all charts and market data to ensure I am not going to be participating any longer in this market... with fewer oil supplies, it would be easy to conclude that a trader should just be long CL and disregard using a stop because this market is bullish... maybe? However, when maybe enters into my trading strategy, I might as well go to the casino... or play the lottery (think I'll go out today and buy myself a ticket).

Instrument: CL Jun'17
Lot Size: 1
Total # of trades: 3
Percent Profitable: 66.67%
Avg. Winning Trade: $+75.00
Avg. Losing Trade: $-90.00
# of winning trades: 2
# of losing trades: 1
# of even trades: 0
P&L Total: + $46

"Better Trading Ahead!"

CL Chart Analysis
CL 5/17/17 Made a few trades for a small profit, taking pride in the process of execution.

CL Chart Analysis
CL 5/17/17 Notice how far price came down off the previous highs, that would be hard to hold a stop on.
CL 5/17/17 Bullish day turns into a choppy day,

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Better Trading Ahead! 5/9/17

"Better Trading Ahead!" is the theme here I am drilling into my psyche.

I did some deep introspective thinking about my trading, the learning never stops. I  learned that I was seeking instant gratification from my trading success, the hard work of being patient and waiting for my trading criteria did not factor into this powerful emotion.

Trading well for a loss is better than trading poorly for a profit... take a minute to think about that.
I do believe that if I trade well consistently, I will be able to compound my wins. But what is more important than how well I win, it's how well I lose...

Losses are a part of trading, we all know that, but do we ever embrace "a good loss". I'm talking about the kind of loss that took place in a trade that met all your criteria, and by chance, price stopped you out for a minimum loss or small gain?

See below chart, for example of a good loss imho. Notice the highlighted area of congestion, I made my trade just outside this area to allow the trade to gain momentum in my favor outside the congestion.  I Sold 46.12, the position was profitable for a short time until my profit stop was hit. CL may retrace back down, but that doesnt matter. I made my trade and now it's time to move on with my day.

"Better Trading Ahead!"

Lot Size: 2
CL: +$21

Total # of trades: 1
Percent Profitable: 100%
# of winning trades: 1
# of losing trades: 0
# of even trades: 0
Total: +$21


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CL Trade Analysis

I made a profit today trading CL, but I honestly had to work a lot harder at it than I wanted to. Not the kind of trading I say I do not want to engage in. As a trend trader, it's difficult for me not to get tunnel vision when I think I see a trend in the chart. Take a look at the chart for yourself, I see a descending triangle begging me to short it, notice how many times I traded today...
I was about to go into another shoud've, would've', could've rant, like how CL "could" keep selling off without me riding it down. But I have to remind myself that trading is a lifestyle for me. Make a profit and move on with my day.

As I wrap up this post, CL has sold off more without me in it... I'm grateful I can walk away with a profit and not a huge loss.

Thanks to those who have followed the blog and have reached out with support.

Lot Size: 1/2
CL: +$373

Update: Forgot to mention the quick YM trade that I hopped out of for a win. 
Another trade that falls into the category of  shoud've, would've', could've.

Lot Size: 1
YM: +$1

Total # of trades: 10
Percent Profitable: 70%
# of winning trades: 7
# of losing trades: 3
# of even trades: 0
Total: + $374

"Better Trading Ahead!"


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One And Done Trading: CL

Trading Perspective

Today I felt like I regained my trading perspective, emotionally I feel I have regained confidence in my technical analysis to the point, I do not feel the need to chase the market, not for out of fear of being wrong, but by acknowledging that the market is choppy. Choppy conditions make for tough trading. If the trading day appears to be choppy just the slightest, I am mentally training myself to move on with my day without risking any capital.

The chart below is an example of how my money management works. I sold CL 47.85, began with 10pt stop, as the trade began to work in my favor, I quickly moved my stop to a profitable position, also referred to as a "profit stop". A profit stop allows your position to work while simultaneously locking in a profit.

In the below CL chart below, my profit stop locked in only a profit of fifteen bucks... take a look at how far the market when against my original short of 47.85. [Pause]

As I was typing out my thoughts, CL just sh*t the bed for reasons I have no clue to as why? I quickly checked CNN to see if North Korea fired a missile or something...CNBC article [Oil Prices Fall]

U.S. crude oil refinery inputs averaged about 17.2 million barrels per day during the week ending April 28, 2017, 108,000 barrels per day less than the previous week’s average. Refineries operated at 93.3% of their operable capacity last week. Gasoline production increased last week, averaging 9.8 million barrels per day. Distillate fuel production increased last week, averaging 5.1 million barrels per day.

Full report here


Trading with CL is not for the timid!!! I'm foolish enough to do it anyway. Sucks for the traders who just bought the high and did not have a stop order in play.

Lesson learned that I did not have to pay big $$$ for, avoid trading CL on EIA report days. FYI, today is a FOMC day as well.

Lot Size: 1
CL: +$15

Total # of trades: 1
Percent Profitable: 100%
# of winning trades: 1
# of losing trades: 0
# of even trades: 0
Total: + $15

"Better Trading Ahead!"


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