Extreme Futures Daytrading

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ppplaci

Active member
133 6
Well, I have just checked the charts. What a horrible slow ranging uneventful day it was.
Or is this the silence before the storm? Like the beginning of April this year? We shall see tomorrow.
Today seriously looks like as if it was a public holiday. Well, sometimes those days are even better than this.
I really want to trade S&P and YM but I will need capital for that. They are so much easier to trade.
They don't move as much as the Russell, but less spiky, and with gft lower spreads. Soon I hope I will get there.
Will have to focus not to break rules again. I almost finished this month, and it is amazing, never had 18 winner days in a row ..well except in 2008 but, different times
I remember when I started FX in 2006 I could daytrade the cable or euro for quick 30-50 pips..nowadays not the same. World has changed, but I guess it always does. I wonder how a person might feel who was trading already in the 80's.
Well, need to sleep. Sweet dreams! :)
 
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ppplaci

Active member
133 6
First I did not comprehend what is this
WTF :D:D:D
They should have won eurovision this year not the daughter of Sandokan :D
 
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ppplaci

Active member
133 6
Day 19 (Week 4)
Month's plan beginning balance: £50
daily target is 5% (£2.50)
base stake: £0.1/tick
max stake £0.8/tick

Account start balance: £50.00 (on 21 July 2014)
Current balance: £110.10

Account profit(net return):
plan: 95%
actual: 120.2%

Win/Lose days: 19/0
Win/Lose trades: 91/83

********************************************

Finally they gave it up. Today I did things different. First broke rule again, not good, with YM trade. did 2 points exited as soon as possible, because right after entry I was aware that I took, again, a too big risk.

All day I expected short... for days now, did not happen. I wanted to make a huge sign and go out to the streets, with the sign saying "i AM NOT BUYING IT"
This would have had multiple meaning of course :D
But I gave up all hope and finally entered long. Finally, at this failure they lost it, Reversed quickly. Now, I made 3 circles on the chart The one in the middle is the TF 2000 tick chart. I am trying to convert it to my main chart. So based on that there was a short signal with lower high, extremely overbought price properties, so I wanted this to be a swing, or at least a swing scalp trade. Like I should be trading. Like I want to be trading. Added an add-on on first continuation. Exited with add-on too early, and took 11 points (110 tick) profit from original entry. Enough deviation from the plan, and they worked back the premarket gap, so, good enough point to quit, I thought.

Oh other two circles are on S&P 5000 tick and 10000 vol chart just wanted to say based on that there was no short signal on markets, nor was any on YM but they move together most of the time anyway.
Signals are much better when they all agree, but they don't move together, like before.

So I broke my target rules, but only because this was a great probability collapse. And it might go further. Also I was about to start doing this from day 21 anyway, but I made up my mind already, so had to go with it.
 

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ppplaci

Active member
133 6
this chart just shows that YM failed to break the upper resistance line, this along with Russell "shortishness" was enough. And when YM broke through the next res line without any problem....

also attached balance/DD chart

also just a comment on GFT, forgot about it. When I entered the YM trade by the time they filled my order I got it as a -11 point trade, as a start. That's a mighty spread I have to say...
Also connection problems, not with my internet, but when Russel looked like it was going for short the first time, everything froze, couldn't even log in on the web platform. Interesting. I wonder if others had the same thing too?
 

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ppplaci

Active member
133 6
Made this visual plan for next month(or next 20 days).

Modified my chart so that from now on, instead of balance it will show profit chart
This way, just in case I will get there in the future, there wouldn't be disruptions in the line if I make a withdrawal, cause its not balance just profit, which does not matter where it is. In my pockets or in the account, all good.
 

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ppplaci

Active member
133 6
Feeling nostalgic. All these screenshots I just made...
systems created by others, some put together by me.
Most of the indicators also downloaded from another MT4 forum, don't want to say the name dunno if I am allowed to... some indicators I have programmed. If I look at them they look just perfect. Feels like I could make money with all of them.
That reminds me it is not the system not the heap of indicators that will help you make money but the mindset. Doesn't matter if you have the greatest system, if you don't adhere to its rules. You can chase the holy grail, and it may sound cheesy but it is within you :D. Somewhere...

Another thing that I remembered. if you look at these charts all look great.
If someone wants to sell you systems, they will show screenshots of days/times like this. a ranging horrible day wouldn't look this great. So, if you are a beginner, be vary of all scammers ..... had my share of spending money on such worthless piece of ....

Although these are the best I could find from thousands... well they looked like the best for me I just did not use them much.
I do use some of them today, but ported them to ninjatrader. better charting....
 

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ppplaci

Active member
133 6
Finally, something I can rely on. HMRC info. Straight from The Source. We did not even need Neo.
Been looking for this for a while. Thank you, barjon.
http://www.trade2win.com/boards/spr...tting-tax-free-profits-not-3.html#post2354110

http://www.hmrc.gov.uk/manuals/cgmanual/cg56105.htm
http://www.hmrc.gov.uk/manuals/cgmanual/cg12602.htm
http://www.hmrc.gov.uk/manuals/bimmanual/bim22017.htm

So far, have not found any official info on "if u don't have other income then it is taxable"
Probably doesn't exist.

---
P.S. Sorry don't need any more input on the matter or turn this thread into a discussion about SB tax ... read what I could, I just wanted to save this for myself, here in my journal.
These are facts. Not opinions, gossips, stories, just plain straightforward definitions from HMRC. Brilliant.
 
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ppplaci

Active member
133 6
I have never really thought it through, but just calculated the following
When I started with £50 and 0.1 stake, and because my indicator usually stops me out at 1-1.5 points if it is a failed trade, by default I risk 2-3% of my equity. But when I say that the max stake at this situation can be 0.8 that means at that point I am risking 16-24% with one trade. That could easily lead to catastrophy. To most people it is obvious and clear, and I am and was aware of that too, but when you feel invincible, you don't think it will actually happen. I could say I am an optimist. Maybe more than that. So...
Plans..targets...or whatever:
Decrease my risk. I will still increase my stake carefully, if necessary, but after my 20th day, when base stake will increase to 0.2, my max stake will stay at 0.8. at a £100 it is still 8-12% risk per trade with the highest stake. That is still high but I will further decrease it later. Wouldn't want months of work go to waste in a day, which it can, easily. Besides, even after getting used to the higher stakes bigger losers, a couple hundred pounds of DD would still stop my beating heart if my total equity is only 800-100 pounds.
So, first plan decrease risk as soon as possible.
Be more selective, try to increase winner/loser trade ratio


And, what did I learn to know or to feel or not to feel in the last month?
If I get out of a trade/trend after 5 points and quite happy for it, and the trend goes the same day another 30 points. don't go crazy. I have many times. Now that's the greed I wanted to defeat with this month long exercise.
Funny thing, someone less experienced asked me once but how can I handle this situation? I said, ok you stay in that trade for the whole day and you make 30 points. But if you have this mindset and the trade goes on for a month, you would be cursing again, why you quit (I know I know you can always get in again, but lets assume it is with a size you can not daytrade with)...so, If u stay in it for a month and it goes for a year? It never ends. You have to be happy with what you have taken out, and that you have made money, and if an opportunity presents itself, you can get in on that ride again. No big deal. There will be another day, another week, another trend, another clear good entry, another wave, as long as markets are functioning. Of, course, some want it all TODAY, and ALL OF IT.
That is the subconscious greed and impatience in control, the need for security, survival, some ancient built in programming that is very hard to get over it, but I believe it is possible, with enough willpower, and creating a conscious habit.
Now I know how this whole thing works (for me, maybe not for everybody but certainly for those who have a bit of gambling problem..or had). I know and knew long ago, that this should be changed and how to think about this, but still, when I only scooped out a fifth of a huge move, I used to get a little crazy, and sometimes I have blown my account, simply because I couldn't handle not taking it all.
But, it is time to change. Time to move on. Time to forget the past where I could make my fortune in a day. time to be more patient and careful. Time to make money.


...I just saw..this must be good enough for the 100th post :)
 
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ppplaci

Active member
133 6
Day 20 (Week 4)
Month's plan beginning balance: £50
daily target is 5% (£2.50)
base stake: £0.1/tick
max stake £0.8/tick

Account start balance: £50.00 (on 21 July 2014)
Current balance: £106.50

Account profit(net return):
plan: 100%
actual: 113%

Win/Lose days: 19/1
Win/Lose trades: 105/96

********************************************

Horrible day. First losing day After all that speech about having control etc. I almost finished with target in the first hour. Then I entered into a trade with YM. Too high risk, bad decision, meltdown.
Because of previous days performance still up compared to plan, so I consider first month finished. My mother is here so it is not the same to trade, I shouldn't even have started trading. Very slow market, I was in the long at a perfect place but exited early, and missed the continuation. Made a screenshot of the chart, will try to mark the trades tomorrow but too tired now been looking at charts all day moving horizontally.
Good part is I only lost £3.60 altogether, but lost £11 on the YM which means I am way up on Russell. Just have to stick with it.
 

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ppplaci

Active member
133 6
Like I said I am not proud of yesterday. Trading YM, too big size, end of the day I started averaging down...lost it completely. Not used to trade all day nowadays.
Wish that was the only reason.
So here is yesterdays chart, trades and exits marked, as well as I could.
(No exits marked for last few trade)
 

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ppplaci

Active member
133 6
Yesterday, it might have affected me... I went on grail-hunting. Been looking at my Metatrader, and magic-wonder-perfect-infallible heap of indicators. Reason????? maybe I was bored or something.
Its not like I am looking for something new or better, I know that's not the key. I left MT4 open, because some of those indicators looked too good and I wanted to test them live, and of course, they were repainting ones, so ended up removing most of them, but still wanted to test the remaining..unfortunately it affected me, and have been entering trades based on that.
Stupid. For example my first 2 YM trades were based on that.
 

ppplaci

Active member
133 6
Day 21 (Week 5)
Month's plan beginning balance: £100
daily target is 5% (£5.00) (with the original plan)
base stake: £0.2/tick
max stake £0.8/tick

Account start balance: £50.00 (on 21 July 2014)
Current balance: £108.20

Account profit(net return):
original plan: 110%
boosted plan: 120%
actual: 116.40%

Win/Lose days: 20/1
Win/Lose trades: 106/96

********************************************

So I don't know how to do this. I am trying something else, swingish trades. I stayed in my Russell short all day, but no significant gain exited after close.
S&P: I entered with lower risk, not necessarily based on any kind of setup, but getting close to a monster resistance, so expecting a pullback.
This is all new to me.
I decided that floating P&L will not be calculated into the Profit chart..never were, the difference is I never had open trades before.
But I have to start this. The SB company will pull me apart after a while if I keep on scalping with larger size. I have to change a few things, or, at least got to try.

So trade and exit marked. That is all for today. Market flatlined. :D
 

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ppplaci

Active member
133 6
Day 22 (Week 5)
Month's plan beginning balance: £100
daily target is 5% (£5.00) (with the original plan)
base stake: £0.2/tick
max stake £0.8/tick

Account start balance: £50.00 (on 21 July 2014)
Current balance: £109.20

Account profit(net return):
original plan: 120%
boosted plan: 140%
actual: 118.40%

Win/Lose days: 21/1
Win/Lose trades: 115/110

********************************************

So. Another disappointing day. First trade I was sitting in for 2 hours while watching the price do nothing. I thought market flatlined yesterday. I was wrong.
Couple of unsuccessful ES trades, of course nothing smart just haphazard greedy impulse driven top-picking, lost 6.80 on those, deserve it too.
Day is positive so I book it as winner, but its more like breakeven day, target not met, still on track with the plan thanks to the successful day.
Will not trade tomorrow . Won't have time and need to clear my head cause I lost my edge, the edge I never had, but at least I thought I have it :D
Now I don't. Need to calm down and break that £110 resistance on my profit chart :p
That's all for today.
 

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