Chopped, Diced & Minced, & An Anniversary

CL 10min

GC 2min

Another day that is totally not good for the heart. I'm no longer going to feel bad about price hitting my targets after I bail. There are better days ahead (maybe tomorrow, who knows, oil is really starting to move!) to hold trades.

The alarm on D's blackberry went off moments ago. D was in the shower, and the alarm was deafening (loud as the siren of a fire-engine).

So I walked over to his desk to silence it.

That was when I saw D's note:
Juliana's anniversary

I am hopeless, and desperately in need of a new brain.

In green box are trades from today:
PnL for this week (Tues, Weds, Today):

Pining

FX Trades Gone Awry

It didn't occur to me to check my FX position...I read FX blogs everyday yet I don't remember I have my own FX trade on (yes, I am that absent-minded...I frequently forget what I had for dinner right after dinner, and data release time, and everyone's birthday including mine), until I read Long & Wrong's post.

I'm leveraged 1:1.

But still.....

This is starting to feel a tad like investing in mutual funds.

Chopped & Minced

The only chart that's worth showing:

GC 10min

Zoom Out

My tendency is to enter before confirmation, and I intend to keep doing that.

I do need a lot of practice in SITTING though.

I gave up on GC after it kept playing around yesterday's low.

I moved my stops before price broke out of consolidation / that ugly chop zone, and was stopped out a couple of times in 5 agonizing hours.

I entered one last time just before GC nose-dived, but quickly decided that I didn't want to play anymore. Took a small loss and went out to get some fresh air and receive D.

When we were having dinner, I watched in utter disgust as GC plunged to both my target levels.

I must have muttered "fuck" half a dozen times.

Then I asked D if we said grace before dinner.

D said we did, right before my whispered swearing.

In green box are trades from today. I'll probably not be trading tomorrow. Family matters.

Crude Craze

CL 10min

5 trades; all shorts.

Was just really aiming for S2 target the whole day.

1st trade got really close, and I was ready to get out once the huge candle closed. Price bounced right up from a level that wasn't in my radar to hit my stop instead.

It's not a nice feeling - giving back half of what I thought was safely mine.

But that's trading - market decides what it wants to give, and HOW it wants to go about doing it; I decide if I want my trade to be a scalp, an all-or-nothing trade, or something in between.

All the other trades were managed on 2min and 200-tick chart; all entries based on price action on 10min.

In green box are today's trades. All above green box were trades from last Wed and Thurs. No trades taken last Fri & yesterday.

Hungry Jack & Iceland, Seabloke & A lazy Volcano, And A Delightful Breakfast

Hungry Jack (that's what he wants to be called) was flying to Moscow when he was informed by his cabin crew that a passenger was experiencing paralysis on one side of his body and drooling from one side of his mouth.

Hungry Jack decided to land at Iceland. The passenger's wife protested, on the grounds that a connecting flight to Moscow would blow their budget (???!!!! Be careful who you marry!).

Hungry Jack proceeded to arrange for an emergency landing at Iceland anyway. He contacted Iceland's air control, and was expecting to be given the usual ultra complicated landing instructions (ultra complicated to me). Instead, he was told that he was totally in their radar and not in anyone's way, and hence he could "just land". When Hungry Jack landed, he was amazed and impressed by what he saw: ambulance, doctors, nurses - everything that the gravely ill passenger needed - waiting to attend to him.

"I'm moving to Iceland", I interrupted.

Hungry Jack reminded me that they are bankrupt.

"It's ok, she can go there to give a boost to their retail industry"

Seabloke knows her economics!

"Except that I don't shop"

Seabloke busted. Ha!

Hungry Jack went on to talk about how during his sniper days he had a reputation for sitting at a corner by himself sharpening his parang before his team went on exercises, while the rest would chat and chill out, and find Hungry Jack's choice of "hobby" totally mind-boggling. Then came the day when the team's progress in a major exercise was hindered by massive coconut trees that had fallen in their path. The one person that sprang to the mind of everyone present was Hungry Jack with his very sharp parang. Theirs were so blunt I bet they couldn't use them to cut apples.

And there were stories about ninjas and samurais. Hungry Jack enlightened Seabloke and me that ninjas DON'T wear black - they wear midnight blue. Extremely lightly armed, they carry with them on each mission just ONE Shuriken to facilitate their get-away - besides their sword of course. Some of them specialize in reconnaissance, and strike only high value targets. First modern snipers.

Seabloke's planning her deep sea dive for the year. She's AWFULLY disappointed that one of her trips that was supposed to come complete with a spectacular volcanic eruption plus feasting sharks is now without the highlight - the volcano has gone to sleep. She'll have to make do with just hungry sharks...

After we parted ways, I spent 2 hours at my favorite haunt - Harris Bookstore. Checked out everything from fictions to self-help to languages to philosophy (it REALLY should be called the "Ayn Rand" section since there's really nothing else on the shelves except Ayn Rand) to travel to BUSINESS & FINANCE. Bought 2 books that caught my interest - "Betting on Blackjack" and "What Not To Write". Nearly bought a very delicate looking 3-in1 hourglass (1, 3 & 5 minutes - HA!) and a globe (my absolute FAVORITE thing) but remembered that I swore off buying things (I don't throw things - since nothing goes out, nothing comes in).

Hungry Jack's favorite place is 3000 feet up; Seabloke's, 3000 feet down; mine, Harris bookstore 5 miles from where I live.

I just love my boring life and my very exciting and excitingly loving siblings.

My favorite globes (for your easy reference, D!):

Weekly Wrap Up

NG 10min
GC 10min

I have 2 setups for the day - 1 in NG (Long), and 1 in GC (short).

I took neither, coz stop loss for each was too expensive for a low 2R profit potential. I'm just not willing to accept that kind of risk on a Friday.

Above all, today's really not my type of market, and I don't see any sense in simply reacting to what came along. There are days that I have an edge in, and I want to save my chips for those days.

D's trading crude oil! And he's really letting profits run (USD 150 per trade is a real progress for him)! His stop is REALLY wide though to accommodate today's choppy, trendless market - something I'm not willing to do anymore. And since it's something I won't do myself, it's only a matter of time that I make him quit too. All I have to do is NAG.

It's been another week filled with regrets and disappointments (what's new???), and I continue to look forward to a better week next week.

My trades for the week (I have no idea why some of the figures under the PnL column are missing):

Dithering

NG 10min

Considering that I had planned for this for a whole week, I really could cry.

But I won't.

That said, I'm definitely upset.

So I'm calling it a day.

All trades from this week:

TREASURE from Trader Gav's!!!

My dear friend, Daytrader 233, just said something that D keeps telling me about. I just don't quit. Ha.

Was chatting with D (after I buried my head /face in my palms for a full 5 minutes without responding to both Al and him), and he said that at least I stayed to face the instrument I planned to trade today. So I should feel happy. He joked about how different the 2 of us are. For his style of trading, a market that doesn't move is ideal (D buys stocks and sells covered calls). For me, a market that doesn't move makes me cry. I told him that a market that moves without me on board makes me feel like gorging my eyes out.

Trader Eyal

TREASURE!!!!!

I never knew Trader Eyal has a blog (don't have the habit of clicking on traders/commenters' profile) until today. He started writing since 2005 (as seen from link) and he's written so much about Singapore! Those posts are an absolutely joy to read.

Eyal sounds a lot like his good friend Gavin (Trader Gav). Both are very candid, and very clear in their thinking. If only they will start writing more regularly again....But we know Gavin likes to TWEET now....

Austin's ES Trades 1/13 (Wed)

I simply have to post the video (on Austin's blog today) below. Watch the entire video, you'll find out why (something to do with me being totally vain).

Seriously, there's a load of info and the usual very sound advice. You'll see charts of ES, crude oil, TF, gold and ZS (soybean) from yesterday (wed)'s trading and Austin discussed each (with special attention paid to ES). He talked a little about scaling in and scaling out. You'll find more on the topic here. Click on the link for "Partial-Profit Exit Approach".

I'm not selling Austin. As a matter of fact, I don't sell anything other than futures. The only 2 traders that teach whose advice I heed are Michael Woo and Austin, and I have no qualms about advocating their trading philosophies simply because they are sound. The other seasoned traders who are equally generous in imparting advice on trading and whose trading styles are suitable for individual retail traders to adopt and adapt are - just to name a few - Long and Wrong, Solfest, Trader Gav, Trader-X and FX Madness. Do read them.

Crude - My Joy & Pain - & A Sad Story

CL 10min

CL 10min Zoom Out

I must have changed my mind at least a dozen times about where oil is going. Stopped out thrice (2 full stopouts, 1 stopped on trailed). Frustrating but am starting to get used to it.

Am disappointed that I couldn't hold the last trade (shown on chart above) to 79.10 target (S1). It was 20 mins before oil inventory report, and price wouldn't plunge even after making new lows. I chose to play defensive.

D felt my moodiness and kept wanting to cheer me up.

Correction: he SAW my moodiness - oil plunged way way beneath S1 after news release.

I have done everything that isn't in my nature to do - all for the sake of trading well - and I just wish that I'll learn to at least give myself a pat on the back once in a while.

But that's REALLY not in my blood.

My 3 stopped out entries (Red for short; blue for longs):


On a very sad note, D's office cleaner collapsed today and couldn't be revived. It was discovered later that he had a hole in his heart. He was just 30. The really sad part was that none of the 50 over personnel in the office that were crowding around him rendered or called for any help. It was only when D approached them that he knew what happened. He told the crowd that if there wasn't anything else they were going to do, they should at least clear out and give the man some air. D called the ambulance. When he learnt that the man didn't make it, he had his staff send an envelope around to raise funds for the cleaner's family. He was appalled to learn that only a fraction of those who had gathered around the cleaner had made a contribution. That's the private banking department of one of the BIGGEST banks in the world, and most earn a very decent income, and only a handful was willing to do something for the man who had helped them clean their work space everyday.

I don't know what to say.

Globex Slowmo

6E 10min

6E 10min Zoom Out

Am still a little bearish on 6E, and got out of my short only coz 6E looks like it wants to go back up to test pivot, and I don't want to play. Need my nap before US market opens.

D's Losing Sleep Tonight

TF 10min

D's a little upset.

But he didn't lose his humor.

"Look on the bright side" he said, "it shows you're damn good!!!"

D will have clean laundry for the rest of the month.

Not-So-Crappy Day

NG 10min

NG 10min Zoom Out

I stuck with the instrument I wanted to trade today, as well as my BIAS.

I wrote down the time that I expected to see at least a setup, then I went to take my 3 hour nap.

Got up and saw what I wanted to see (not the EXACT picture, but close enough).

Above all, the stop was right (USD 100).

Told my inner voice to shut up, and entered short.

Managed my position like a robot, and got out near my first target (green line).

Didn't wait for price to hit target coz the globex spread was horrendous and I needed to get out at a level that was not likely to invite violent reactions. BIGGEST single reason that I got out was coz D (who just got home) announced that news just came out that oil and gas were DOWN. That was enough reason for me to get out.

Not going to BUY anything, so will wrap up for the day. Watching TF with D. He's been hitting 1-point per trade for the past few sessions. Not bad considering that he used to run with 3 ticks.

Account balance to-date

Funds transferred out of account on Dec 28 2009, leaving account balance at 10k.

USD 514 is from today's NG trade:

CL & GC 10mins

I have a new problem: I run away from trades that I have been waiting for for HOURS (6 for yesterday's CL trade, which was the number of hours I told D that I needed to wait before I could short oil and gold). I just needed oil to hit a new high for the day without MACD doing the same. When it seemed like oil was just about to do that, I had to go buy gold.

It's been the 3rd week. I would know what my charts would do at what time but when the time came, I would flee and trade something that's crappy (I suspect it's my subconscious telling me crappy trades are more fitting for me). I'm not complaining about the net 200 loss at the end of yesterday's session. I just need to know what the hell is wrong with me so I can work out a SOLUTION.

I hate to have to see my shrink. But if I don't stop doing the unthinkable on a daily basis, I would have to start harassing her again (imagine a patient that declares it's NOT her parents' fault right at the onset - leaving the poor lady with pretty much nothing to work with).

A Load Of Crap

CL & GC 10mins

I have a new problem: I run away from trades that I have been waiting for for HOURS (6 for yesterday's CL trade, which was the number of hours I told D that I needed to wait before I could short oil and gold). I just needed oil to hit a new high for the day without MACD doing the same. When it seemed like oil was just about to do that, I had to go buy gold.

It's been the 3rd week. I would know what my charts would do at what time but when the time came, I would flee and trade something that's crappy (I suspect it's my subconscious telling me crappy trades are more fitting for me). I'm not complaining about the net 200 loss at the end of yesterday's session. I just need to know what the hell is wrong with me so I can work out a SOLUTION.

I hate to have to see my shrink. But if I don't stop doing the unthinkable on a daily basis, I would have to start harassing her again (imagine a patient that declares it's NOT her parents' fault right at the onset - leaving the poor lady with pretty much nothing to work with).

Seablokes' World

obvious which is the cheeky one....

Seabloke Underwater

SEAFOOD!!!!!!!

Seabloke #2: Kelly

Kelly with daughter (D's niece)

Eclectic Friday

All trailed exits (well, not exactly - stops were manually moved to nearest market structure high/low)

Cl and ZS ran a decent distance - considering the typical chops seen lately - of up to 200 before turning back to take out my stops. An outcome I am still learning to accept as part of the swing trading game.

Most, if not all, of the trades taken were counter-trend trades, especially 6E. Some were on a 3rd push down setup, others were attempts to fade gaps (only where pivots were above gaps).

Am still torn between trading both globex and US session and US SESSION EXCLUSIVELY. Trading both is a real pain coz I'll get overlapping (or more aptly, CONFUSING) signals. More important is that the opportunity costs for missing on really good runs in a couple of those tickers during the US session is extremely high.

Disgusting Algo

I finally got my 8 hours' sleep.....wait, from 5am to 2:30pm - omg, that's like nearly 10 hours! Considering that I haven't slept for more than 3 each day for the past WEEKS, that's a real compensation.

Was staring at the same ugly chart yesterday that Solfest was looking at. I started staring at it at 3am ET. Had no idea what in heaven's name it was doing - its starting above pivot and piercing it subsequently and coming back up during the globex session was enough to suggest that trading it wasn't going to be easy on my nerves, to say the least.

So crude ended up not getting near enough to its high from the day before, and not wanting to get back beneath pivot. I was long first, aiming for 83.50, then short, aiming for 80.95. Neither worked out of course. When I was short, I kept telling D that "the bitch just won't die!!!". If you've seen Solfest's chart, you'll understand my frustration. Some entities, forces, whatever you call them - kept supporting price above pivot!

D went to bed and I continued to stare at my charts til 5am, when I finally threw in the towel. Scratched it at breakeven.

The next time I see crude, I will pimp slap it.

An interesting development today: my agent called to tell me that I've been shortlisted for a Macdonald's TV ad, which I turned down of course.

Of all the fast foods, I hate Macdonald's the most. It gives me serious rashes and migraine WITHOUT fail everytime I eat it.

But that's not the reason that I rejected the job.

I hate the entire modelling industry. That's THE reason.

My List

10 things I love:
1) Al, Keish, D
2) Seabloke, Pilot, Gremlins
3) Hugh Dillon
4) J
5) Quiet
6) Clean Air
7) BOOKS
8) Ice-Cream
9) Trees
10) My Piano

10 things I hate:
1) Trading
2) Trading
3) Trading
4) Trading
5) Trading
6) Trading
7) Trading
8) Trading
9) Trading
10) Trading