Confessions of a futures trading student

Background: I positioned my first futures commerce on 6/1/2022. I monitor these trades just like how I monitor my choices trades. Besides I spotted now, that each one I used to be monitoring had been entries and exits, and no actionable insights on how and why I positioned the commerce or exited my positions. My solely saving grace was that I knew a few of my detrimental tendencies so I traded the micros MES_F ($5/level) for almost all of my time. I dabbled a number of instances within the minis ES_F ($50/level) however by no means dedicated to it.

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I traded like this for about 10 months with none precise outcomes. I used to be a dropping dealer. So I made a decision to alter my each day routine and wished to take an trustworthy evaluation of how mentally ready I used to be for the day earlier than I began buying and selling. I quantified 10 elements that I assumed would impact my buying and selling and began monitoring that on a regular basis earlier than I begin my day and likewise on the finish of my day.

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I shared that for a number of months, and was proud that the month-to-month outcomes confirmed "progress". All it truly confirmed was a trending p/l with no actionable perception. I had no freaking clue how I used to be in a position to obtain the outcomes. Then September rolled round…

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September 14, I had my first detrimental day. I truthfully can’t recall what occurred precisely. I do know that most definitely I took an impulsive commerce. It went pink, so I stored averaging in simply to get out "inexperienced" for the day. This was silly.

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I spent the following few days simply scraping inexperienced, stopping after I made like 1 or 2 factors as a result of I used to be afraid I might lose all of it again. I had no plan. No technique. Then, in an effort to be "inexperienced" by the EOM of September. I managed to mess all of it up once more on 9/28/2023. Doing the identical dumb issues I didn't notice I used to be doing. I used to be so fixated on "sharing a third consecutive month inexperienced" that I threw the whole lot out the window. No technique, no threat administration, pure degeneracy.

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I finished sharing my EOM p/l as a result of I used to be embarrassed of the outcomes, I additionally realized it had a detrimental impact on my buying and selling. Additionally, I spotted all it confirmed was a "look what I made/loss". Nothing that others can achieve insights from.

I struggled for an additional month till sooner or later I spotted I needed to cease what I used to be doing if I actually wished to make it as a dealer. If I actually need to truly thrive on this occupation. October 23, 2023 was the day I made a decision I wanted to alter.

The irony of this example is that I traded randomly like an fool but I spend a lot time outdoors of buying and selling accumulating information and journaling. I by no means truly put them to make use of.

Development Knowledge

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Counter development and excessive quantity ranges information

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Periods information

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Every day journal

I used to be merely losing my time accumulating information and journaling. I by no means truly utilized them to my buying and selling. I used to be nonetheless making random entries and exits. All the time stopping out once I noticed inexperienced. These items skewed my risk-reward. I used to be making little and dropping alot.

I share my information right here typically. I’m able to quantify nearly each side of my choices buying and selling. But, 16 months in and I’ve but made one dashboard to quantify my futures buying and selling information. I couldn't even let you know what my most worthwhile technique is. I couldn't let you know how properly my month went. All I may present you is a pink/inexperienced quantity. That's it. A nasty/good day/month shouldn’t be primarily based on a quantity, it needs to be primarily based on how properly you adopted the plan and really executed on the plan.

I wanted to alter.

So I sat down and wrote down a number of methods primarily based on my information set.

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I positioned a quantitative worth for my entry. Since I commerce on vary bars, I must see a minimum of 5000 quantity traded on that bar earlier than I decide.

I stroll away from my pc after inserting a commerce and let my preset orders play out.

I rewrote my Google Kinds to account for my new methods so I can parse the information on the finish of the month to know alter my buying and selling.

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Hopefully after these modifications I can come again subsequent month and present a dashboard of actual progress and information. I can articulate which technique labored which I stored dropping on. Hopefully, I can inspire others to maintain on attempting. Even when you’ve got been buying and selling just like the fool that I’m. Hold working at it. Buying and selling is difficult. It’s not as straightforward as individuals on social media make it appear. Good luck all.