[Cory2679]

Originally Posted by MidKnight »

...you seem overly focused on making lots of money right now rather than working on skills.

How do you figure? After all, I'm trading demo!...with the logic that if I can't be net profitable demo, I can't be net profitable live. My initial high 5% position size decision...which I've now changed to 2%...was just because of a misconception on my part of what is big when it comes to position sizing.

Originally Posted by MidKnight »

I mean obviously you are working on skills, but in public, its mostly just about money or 'infinite yield'.

Originally Posted by MidKnight »

...posting journal with pnl can be ego boosting.

The purpose of this thread has little to do with money...and NOTHING to do with ego...believe it or not, it has everything to do with improving my "skills!" This is a trading journal...not strictly a P/L log...and the reason it is public is so that others here at TL can follow along and that I can perhaps get feedback, help, advice, etc., in order to help continue to improve myself.

I'm not sure how it would be an ego booster...this is an anonymous forum...I don't know anyone on this forum outside of cyberspace. I can see maybe if I were posting P/L on facebook or something (which I'm not!)...

I think my usage of the term 'infinite yield' may be part of the problem...I was basically just alluding to a post thales made here with an attachment. I think reading that would help clear up a lot of the confusion...I should have posted it to begin with.

Originally Posted by MidKnight »

This impatience is understandable since that is probably what attracts everyone to trading and it is usually the main focus of new traders. From my own experience this was a self-defeating mindset. I'm not suggesting aiming for high financial goals isn't good, but in the end financial results are the product of the skills. Focus on the skills and the money will come.

I agree with this, but I think you've misinterpreted me if you think that this thread is focused on making a lot of money right now.

Originally Posted by MidKnight »

I feel this is where ones documentation and attention should lie rather than with pnl. But you don't see many public journals on this stuff because it exposes themselves and is highly personal.

It is! Read back through this log in detail...the entire reason I created the log was not to post P/L...I could do that on the P/L thread...the reason was for an area to post all of my trades!!...I want to log ALL of my trades in order to keep track for sake of review and possible feedback/advice from TL members from whom I've learned a LOT and have great respect for...and continue to learn from...

I think you have misinterpreted me and my intention for this journal.

When you asked your initial question...

Originally Posted by MidKnight »

GL on the journey Cory. You mentioned this was going to be posting a game plan, but it looks more like a goal. Is this log intended strictly as your personal pnl thread in striving for the goal listed or is this more like a journal with details about trades, what one did right, what one did wrong, how can they do better etc....

With kind regards,
MK

...I was a little confused and thought you may have missed something. I thought I had already explained...

Originally Posted by Cory2679 »

...I'm going to try my best to post all of my trades on the real-time charts thread, as close to real-time as possible/reasonable/convenient. I figure it's a good way to keep track of my trades, get feedback on my trading, and to help anyone who could benefit from my posts.

Originally Posted by Cory2679 »

I plan to use this thread to post all of my trades from each day, after the day is over, and also my weekly P/L.

The log is also open to anything else I feel like sharing...I'll basically use it as a journal.

I will continue to post real-time charts over at the Reading Charts in Real Time thread, but only when it's convenient and doesn't hinder my trading in any way. I will also continue to post my weekly P/L over at the Trader P/L 2010 thread.

Maybe part of the problem is that thus far, all I've talked about is returns/position sizing/etc...but that's just because it was the weekend...not trading, yet...I'll be posting charts, discussion, etc. this coming week.

I just wanted an initial game-plan for position sizing, account size, demo/live, etc., because I wanted some structure/consistency.

I appreciate your contribution and I'm not trying to argue...I just honestly thought you may have gotten the wrong idea from me, so I wanted to do my best to clear it up!

[MidKnight]

Hiya Cory,

My apologies for my misunderstanding and your reply clears things up for me - thanks!

Many warm returns,
MK

[Cory2679]

Originally Posted by MidKnight »

Hiya Cory,

My apologies for my misunderstanding and your reply clears things up for me - thanks!

Many warm returns,
MK

Thanks, but no need to apologize.

Please don't think I was angry or anything just because I replied with a big post...it was just an effort to explain myself to you or anyone else who might take a look at my thread...I may not have been very clear in the beginning.

I appreciate you taking the time to contribute to my log and hope you will continue to follow along.

[Cory2679]

Here are my three trades from tonight...

I should mention, blue line is the entry, red line is the stop-loss.

Not shown: dotten purple lines are a point where I'd get to break-even, and green lines would be profit targets.



^^ I pulled the ripcord on this one for -12.5 ticks.



^^ I pulled the ripcord on this one for -19.6 ticks.



And finally...pulled this one for -14.8 ticks...I was considering re-entering this one on a break of the low, but price has kind of died out for the time being...and I'm tired and going to bed soon!

Finished the night down about 1.26R. Even though it wasn't a great night, I don't have any huge regrets or anything...just didn't go my way!

[jonbig04]

Originally Posted by Cory2679 »

Here are my three trades from tonight...

I should mention, blue line is the entry, red line is the stop-loss.

Not shown: dotten purple lines are a point where I'd get to break-even, and green lines would be profit targets.



^^ I pulled the ripcord on this one for -12.5 ticks.



^^ I pulled the ripcord on this one for -19.6 ticks.



And finally...pulled this one for -14.8 ticks...I was considering re-entering this one on a break of the low, but price has kind of died out for the time being...and I'm tired and going to bed soon!

Finished the night down about 1.26R. Even though it wasn't a great night, I don't have any huge regrets or anything...just didn't go my way!

Interesting, it almost seems like the support you want to see broken for your entry (thus making a LL and stopping you in) wasn't breaking, but only getting pierced by enough to stop you in.

Just out of curiosity, why did you exit the last one?

[Cory2679]

Originally Posted by jonbig04 »

Just out of curiosity, why did you exit the last one?

Just because price didn't get very far before it came back through my entry...I decided to pull it and potentially re-enter if price broke the new low (which it hasn't yet)...

...you actually can't tell by my charts, but I did this on all 3 of the trades...pulled out before my stop-loss was hit...for the same reason...just no steam behind any of the moves before price came back through my entry...

[Cory2679]

Just took another loss...



Pulled the ripcord for -5.8 ticks.

NOTE: When I say something like, "pulled the ripcord" or "pulled it," that means that I manually exited early rather than waiting to be stopped out.

[MCM]

Good morning,

Q : Pulling the ripcord - due to no steam behind the move.

Sounds like a subjective feeling - or are you using some indicator as well?
How iron clad are your trading rules?

I only ask - because as a somewhat rookie still (1 year) of trading - I still dont trust my subjective gut. Wondering when some of the veterans will start trusting their instinct more than their screen. (getting out because "it didnt feel right").

Enjoying the thread.