The Martial Trader is Back
What's up everyone, I know it's been a while but I thought I'd let everyone know after graduating from Kent with a masters in Financial Engineering I am back to trading futures. I needed some way to gather my thoughts and felt like this might be a decent forum. Unfortunately due to privacy reasons I can't give gain and loss information like I used to but I certainly can give some of the ole mantra wisdom stuff.
Currently I am making a transition. After trading the Russell 2000 futures for 4 days, I've come up just under flat and feel that my momentum trading strategy will best be served in the Natural Gas contracts. The volatility in Natural Gas is so rediculous that the chances of a huge move, a money making move, seems much higher than it does for the equity indices.
Positives:
I am currently trading with a strategy that I have come up with that I am not allowing myself to deviate from unless I feel that the WHOLE strategy be changed around. The shell of the strategy is fairly simple. Tight stop losses, buying strong markets and selling weak (momentum or mo-mo as we used to say in this forum). The whole idea is to let the winners run as long as possible using trailing stops orders. It is really good that I have a set strategy going into the market on a daily basis. In addition I have a daily drop dead which is 3% of my total account. That is a bit risky, perhaps 1% would be better but at the moment it is necessary to take on a little larger risk in order to take advantage or a good move.
Negatives:
Unfortunately the strategy demands a certain market environment. I can not force it to win. I feel that sometimes the pressure to win increases my aggresiveness while the market type simply won't produce the outcome I am looking for. This goes back to the tride and true Martial Trading law, PATIENCE. I need to find that delicate balance between patience and aggression. That is where the true trader is defined. A good trader can come up with a plan and be disciplined, but a GREAT trader uses that little something extra (In Louisiana it's reffered to as Lagniappe).
Goals:
My Goal is to make a return of 50% on total capital in 1 month.
Course:
If I continue with my plan, staying disciplined and avoiding soggy, choppy, or weak markets then I feel that the goal is certainly attainable.
Tuesday's Plan
I will trade only the Natural Gas contracts. Until I have more capital and a better execution system I feel it is in my best interest to stick to one contract. (Remember the old Martial Trading rule on how to fight more than one enemy). EIA Petroleum comes out tommorow at 9:30. It shouldn't move Natural Gas but spreads often time can cause jumps. I feel bullish on Natural Gas and will look to buy on a break out above 7.14. If the market is showing weakness at 7.20 I will cover and look to short into a sell off down to 7.00.
Good Luck and Namaste
Currently I am making a transition. After trading the Russell 2000 futures for 4 days, I've come up just under flat and feel that my momentum trading strategy will best be served in the Natural Gas contracts. The volatility in Natural Gas is so rediculous that the chances of a huge move, a money making move, seems much higher than it does for the equity indices.
Positives:
I am currently trading with a strategy that I have come up with that I am not allowing myself to deviate from unless I feel that the WHOLE strategy be changed around. The shell of the strategy is fairly simple. Tight stop losses, buying strong markets and selling weak (momentum or mo-mo as we used to say in this forum). The whole idea is to let the winners run as long as possible using trailing stops orders. It is really good that I have a set strategy going into the market on a daily basis. In addition I have a daily drop dead which is 3% of my total account. That is a bit risky, perhaps 1% would be better but at the moment it is necessary to take on a little larger risk in order to take advantage or a good move.
Negatives:
Unfortunately the strategy demands a certain market environment. I can not force it to win. I feel that sometimes the pressure to win increases my aggresiveness while the market type simply won't produce the outcome I am looking for. This goes back to the tride and true Martial Trading law, PATIENCE. I need to find that delicate balance between patience and aggression. That is where the true trader is defined. A good trader can come up with a plan and be disciplined, but a GREAT trader uses that little something extra (In Louisiana it's reffered to as Lagniappe).
Goals:
My Goal is to make a return of 50% on total capital in 1 month.
Course:
If I continue with my plan, staying disciplined and avoiding soggy, choppy, or weak markets then I feel that the goal is certainly attainable.
Tuesday's Plan
I will trade only the Natural Gas contracts. Until I have more capital and a better execution system I feel it is in my best interest to stick to one contract. (Remember the old Martial Trading rule on how to fight more than one enemy). EIA Petroleum comes out tommorow at 9:30. It shouldn't move Natural Gas but spreads often time can cause jumps. I feel bullish on Natural Gas and will look to buy on a break out above 7.14. If the market is showing weakness at 7.20 I will cover and look to short into a sell off down to 7.00.
Good Luck and Namaste
posted by Shiptastic at 8:49 PM
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