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I trade long term in a similar way to how I was trading the ES intraday in this thread. As soon as the indexes start to retrace I'm going to do it again.

FINALLY sold a large position of weighted index ETFs that'd I'd been carrying for months today. I'm fully expecting price to continue upward btuw hatever, my sell price was hit today. I'm happy. A nice profit. Sorry for being a huge slacker and not updating this thread as much as I should.

Usually when I buy something, that means it's close to the top.

Sorry, I think I'm the worst ET'er about updating this journal :(

On a related note, made lots of money on my weighted ETFs the last dtwo days. However, still nowhere near a buy or sell point. *waits patiently*

I'm doing a terrible job at keeping this journal updated.

I forgot the market was closed today. I got up all early and everything. lol. Well there was a little ES activity but nothing really.

110 stop loss right? Well you know, that would eliminate those double tops and bottoms that cause losses in this method right now. Of course if it's actually a reversal and not a double top/bottom, you'd eat 10% more loss, but it looks like you shifted the entry points down so it might...

market has been going straight up since that loser maketrket has been going straight up since that loser. That's why when averaging down you ALWAYS have a hard cutoflsoss and don't try to do martingale. Just take the loss and move on to the next trade.

here's the loser

Trades today: short: 1025.25 x 1 Out: 1022.50 $132.90 net short: 1016.75 x 1 out: 1014.00 $132.90 net short: 1011.25 x 1 1012.50 x 3 out: 1007.50 $919.10 net short: 1007.5 x 1 1008 x 3 1008.50 x 5 out: 1010 -$841.40 net $343.50 so far for the day...

Yes.

People lose money in mean reversion because it usually turns into martingale. Anyway, mean reversion is pretty similar to counter trend trading. Why not do the opposite? Why not just buy an option straddle when price gets back to the mean. It's gotta go SOMEWHERE then, right? lol.

Well in this case it wouldn't have mattered. Had I gone short I would have been stopped out at 1036.25 but then after the run up to 1042.50 I would have had multiple short winners which would have more than made up for the loss. This afternoon was full of short winners, but I stopped after...

First trade today (not sure why the arrows aren't showing up, so I drew them in with circles in MSPaint). OEC is a great brokerage but sometimes the options on the charting platform (such as showing order entries/exits) seem to randomly disable themselves, especially after upgrades. 1039 * 1...

So as I mentioned before, I recently moved. Anyway, Sunday night my internet (Comcast) went offline and didn't get fixed until Tuesday evening. Comcast sucks. But I missed the crazy action on Tuesday :eek: I was checking the market throughout the day from my smartphone, but all I can do...

Sorry, I had a family issue come up and had to go visit someone last week, so no trading. I'm back and ready to rock this week. For those of you who expressed interested in my long term positions, for the last few weeks price has been going back and forth in the middle of nowhere, nowhere...

I assume you mean for my longterm portfolio. No, I only trade indexes and weighted indexes like SPY, SSO, DDM, QLD, etc., and sometimes the inverse ones I do stagger my buys into them but I do it a little differently than I do for day trading.

No trades today. As soon as I sat down and got situated, the delivery guy came with my washer and dryer and I got distracted. Too bad, too. There was a lot of good price action today. So, as of 6/23/10: Account balance: $45,000

Alright, I am back in the game! Since it's been a while I'm going to go back to using 1, 3, 5, position sizing. I withdrew some money from my account over the last few months so my account size as of this morning was $45k. I'll be posting daily PnLs again. Feels good to be back!