[NoviceTrader1]

Greetings everyone, This is my first post in this forum, and it will be a log of my daily trades. I believe that publishing a log of my trades can only help my trading and make me more accountable for my progress as a trader.

I am 21 years old and currently in my last year of university. I have been trading futures(live and paper) for the last 8-10 months. I have tried many different strategies and systems, and have gotten very little in the way of profit. I have recently started trading grain futures with a purely discretionary approach. I trade off of S&R and any patterns that I see in these markets. This approach is working very well since I started and I believe that I am on the path to being a good trader.

To give an idea of my trading approach I have a screen shot of a trade that I would make. After entering, as soon as I have some cushion on a trade I will move my stop to break even and continue to move it and attempt milk the trade if it acts well. My positions last anywhere from hours to minutes, depending on how the market reacts.

Starting tomorrow I will add screen shots of my executed trades(winning and losing).

[NoviceTrader1]

Here are some other trades, made in Soybeans a couple of days back. I exited these trades, after they look to be consolidating, or they violate my stops. I enter my stops by observing volume by price, and determining support and resistance by volume at individual prices.

[NoviceTrader1]

These are the trades mentioned in the above post. Also attached is my current account value.

[NoviceTrader1]

P/L: +251.80
Account balance: 3,862

Today was a decent day as far as trading opportunities in Grains. Wheat had little volatility, while Soybeans had a good trend day. Most of my trades were profitable, with some break-even to small loss trades. I am finding that I am prematurely moving my stops, and this is turning profitable trades into break-evens or small losses. This is something that I will be aware of and try to remedy.

Here is an example of a small fade trade where I moved my stop to break even, and ended up getting out at break-even instead of allowing room for the trade to work.

[thalestrader]

Originally Posted by NoviceTrader1 »

...I am 21 years old and currently in my last year of university. I have been trading futures(live and paper) for the last 8-10 months. I have tried many different strategies and systems, and have gotten very little in the way of profit. I have recently started trading grain futures with a purely discretionary approach. I trade off of S&R and any patterns that I see in these markets. This approach is working very well since I started and I believe that I am on the path to being a good trader....

I believe you are as well ... Good Luck, and keep the log going.

Best Wishes,

Thales

[emios]

Hey Novicetrader1, I'm going to be 21 on Sunday, just wanna say that it's great to see someone of my age who is doing the same thing as me! this is the most effective way to trade in an environment which is becoming more dominated by algorithmic trading...my equities trading has suffered as a result of it...pray they don't hit the futures too badly! Are you at university?

Good luck, and keep up the solid work. Discipline is the key!

Emile

[NoviceTrader1]

Originally Posted by emios »

Hey Novicetrader1, I'm going to be 21 on Sunday, just wanna say that it's great to see someone of my age who is doing the same thing as me! this is the most effective way to trade in an environment which is becoming more dominated by algorithmic trading...my equities trading has suffered as a result of it...pray they don't hit the futures too badly! Are you at university?

Good luck, and keep up the solid work. Discipline is the key!

Emile

It's also good to see someone my age pursuing a similar goal as mine! I am in university and will be graduating at the end of the year. My intermediate-term is goal is to build up a solid P/L and get in at a prop firm over the summer. After I graduate, the sky's the limit. What are your goals as a trader, would you like to pursue a career in the field?

[NoviceTrader1]

P/L: -147
Account balance: 3715

Today was a limited opportunity day, at least for somebody with my trading style. I did make two trades, I was stopped out of both of them. The first trade was made after a break of a coiled range, the second trade was made after the failed break with the reversal. Both breakouts were false, and eventually reversed. As far as I can see, both trades were relatively good, and I would make them again in a similar situation...if anyone has any comments it would be appreciated.