...And They Have a Plan. (Live.)

Discussion in 'Journals' started by Overnight, Feb 14, 2017.

  1. Overnight

    Overnight



    K, here we go with my journal. I was going to hold off on this for a bit longer, but I ain't getting younger and I am in a good place tonight to show demonstrably what I be doing, with what I would like to show for the future, in futures.

    This journal will have lots of silliness from me (like the above video), and I am VERY sure it will have lots of needless banter through its duration from some of y'all. But that is OK. That is the point. I need feedback, whether it is vitriolic or complimentary. No worries.

    Futures only. At this time, it is WTI only (CL on NYMEX).

    Preamble..."How do I make money in a market when I have X amount of money to trade"?

    Trade what you can with what you have.

    "How do I know what I can trade with what I have?"

    AHA! Aye, there's the rub.
    ------------------------------------

    The current summary, live, and all the trades that transpired in that time in a list.


    ForETreal4TSsum.PNG ForETreal4TS.PNG

    This last one is the real key. It shows the maximum potential I will realize if I close all positions right now. Max loss is locked in at ~$700.

    ForETreal4MA.PNG

    So here is the real trick. When to close the profitable trades and let the losers recover? How far can it go? Or should I close it all now?

    Well, here is my signpost.


    ForETreal4fib.PNG
    So how to follow the fib with my open positions. Where do I exit? Exiting is just as important as entering. This is what I face every day in my trading. And this week is going to suck balls, because as you can see, I am spread a bit thin awaiting the inventory numbers. And I am running out of contract months to mitigate the risk!
     
    Last edited by a moderator: Mar 2, 2017
  2. xandman

    xandman

    Have you developed a spread legging technique with NT? I need to suspend disbelief!

    Can we have a general overview and rationale for the method?

    Thanks.
     
  3. Overnight

    Overnight

    The platform doesn't matter. It just happens to be the one I use, and so those are the charts that I post. They are easiest on my eyes with Unirenko variants.

    The rationale is very basic. Almost too basic.

    What goes down must come up, and vice-versa. So I have been studying that fibbo. That bloody darn fibbo. It is uncanny how when you find a good cycle, it invariably pulls back to 50% of the previous cycle. What I am trying to do here is capture the best of both worlds. Get in on a cycle point, counter it in case I am wrong, and then profit when it goes right but mitigate the risk if I am wrong on the other side of it. Does this make sense?
     
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  4. vanzandt

    vanzandt

    Is that like a leg spreading technique?
     
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  5. Overnight

    Overnight

    You are so naughty.
     
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  6. vanzandt

    vanzandt

    Nahhh.... just a wordsmith.
     
  7. Overnight

    Overnight

    A wordsmith? That's cool. So long as you are not an antidisestablishmentarianismist. :)

    See? I knew this journal was going to get funky. God bless you vanz. lol!
     
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  8. Just curious where you learned to trade the crude spreads?
     
  9. Robert Morse

    Robert Morse Sponsor

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  10. Overnight

    Overnight

    To be clear on this, I am not trading "a spread" per se. That is a separate trading product. This is a pure future "calendar spread" to mitigate the overnight margin requirement for each future position. See the charts above for reference.
     
    #10     Feb 14, 2017
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