New trade:
One SBK5 contract bought at a price of 20.02.
SL = 18.98
Another soft commodity added to my list of trading instruments. When the signal comes, I will execute as per my strategy.
Total SBK5 position is now long 1 contract.
Stop-Loss for the entire position is now at 18.98.
TMT
“A fearless trader is not a reckless trader.
TMT
A fearless trader is one who feels the fear (of loss) and goes ahead to trade his plan anyway.”
Position add:
Fourteen M6BM5 contracts bought at a price of 1.2987.
SL = 1.2821
Total M6BM5 position is now long 27 contracts.
Stop-Loss for the entire position is now at 1.2821.
TMT
“Trades go where they need to go.
TMT
I have no control over their direction.
The sooner I accept this fact, the better my life is.”
Position add:
One RSK5 contract sold at a price of 562.6.
SL = 601.0
Total RSK5 position is now short 3 contracts.
Stop-Loss for the entire position is now at 601.0.
TMT
Position add:
Three 6MM5 contracts bought at a price of 0.04952.
SL = 0.04854
Total 6MM5 position is now long 6 contracts.
Stop-Loss for the entire position is now at 0.04854.
TMT
New trade:
One MGCJ5 contract bought at a price of 3001.8.
SL = 2909.8
Total MGCJ5 position is now long 1 contract.
Stop-Loss for the entire position is now at 2909.8.
TMT
New trade:
Two MHGK5 contracts bought at a price of 4.9065.
SL = 4.6255
Total MHGK5 position is now long 2 contracts.
Stop-Loss for the entire position is now at 4.6255.
TMT
Hit stop-loss:
Two MNGJ5 contracts sold at a price of 4.017.
I have come to accept that not all trades will pan out as expected. In fact, based on my system, a majority of the trades will not. This is the reality that traders live in – a world of uncertainty and the unexpected.
Checklist:
Was it a planned trade? Yes.
Did I stick by my rules? Yes. (I always limit my loss to 1R. Never more.)
Am I back to a calm state? Yes.
Mind reset… Done. On to the next trade.
TMT
New trade:
Three 6MM5 contracts bought at a price of 0.04902.
SL = 0.04804
Total 6MM5 position is now long 3 contracts.
Stop-Loss for the entire position is now at 0.04804.
TMT
The Mechanical Trader 