Wednesday, August 3, 2016

Wed. 8/03

2:30pm CDT - I just never seem to learn. I know risk control is the key but today I failed. I had planned to trade Inventory release but my initial sell market order filled 20 ticks lower than expected and then I realized charts were lagging.  Inventory was up (forecast was down) so the fundamentalist in me says price should trade lower so the initial move was correct and would continue.  Adding at previous support was the next mistake and a few minutes later I walked away with the position bracketed, "hoping" the fundamentalist was right.  An hour later, stopped out on a new swing high.  Wrong on everything today and too much risk.
I'm on holiday until later part of Aug. so hope I gain some perspective on what my path forward should be in this endeavor. Discretionary trading still seems to be my nemesis (perhaps because I throw discipline out the window too often) but I've been mostly dissatisfied with all the mechanical trading systems I come up with.  YTD -$10K or -35%.
CL Contracts:2
Net $P/L: -1788
Wins: 0
Losses: 1
Avg$Win: 0
Avg$Loss: -1788


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  2. here's my suggestion. Take 50% of your account and put it into trade leaders. Find sites that allow you to copy trades and spread it across the top 5 or 10 leaders. Then continue trading the other 50% of your account on your own. If after 6 months, you fail to beat the performance of trade leaders, quit trading on your own and invest all in trade leaders.

  3. 5 years ago I had 2 methods, mechanical and discretional trading. The discretional trading I have done since 2007 failed me while mechanical trading outperformed, though it's still new at that time.

    I dumped discretional trading and never looked back. It's that simple.

  4. Hi MBA!
    I've followed your site for years. I really admire your consistent posting results -even when it's painful.
    Try b12trader to turn yourself around.This is no advert but a suggestion from a long term follower of mbagearhead. Best of luck! Dan

  5. This comment has been removed by the author.

  6. I haven't surfed other blogs in a long time... just saw this post. One can make $$ trading CL and do it in pure self-directed (aka discretionary) fashion. Shoot me an email... I think I can easily help the tech analysis part. The self-management part is solely up to you alone :)

  7. careful "austinp" is a known scamming vendor...he has nothing to offer as he is a losing trader himself who needs you to email him so he can take $$ from you for his bs education course