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In the first post of this thread I wrote that I would make decision by the end of April whether or not I would continue trading. I wanted to find out if I could be profitable trading the YM. I am very encouraged by my trading results over the past weeks and I am now convinced that I can be...

Thanks Rice Rocket. Unfortunately commissions are not yet included with these results. My goal for this month was to simply figure out if I could consistently "steal" YM" points. Including commissons the result would have been negative. LL

Today was similar to yesterday. Again the Dow wasn't moving much and there wasn't much follow through. This was the second slow day in a row and I was getting bored so I took a stupid trade in the end. Trade 1: +4 Trade 2: +10 Trade 3: -3 Trade 4: -12 Day: -1 Week: +13 Month: +84

Today the Dow trades in a small range which means that it is difficult to catch a trend. Therefore I decided to stop for the day after only 3 small trades. Trade 1: +5 Trade 2: +4 Trade 3: +5 Day & Week: +14 Month: +85 I have now opened a new account and will soon be working with...

Not much going on today so I decided to quit early and head into the week-end. Here are today's trades: Trade 1: -11 Trade 2: -10 Trade 3: +26 Trade 4: +2 Trade 5: +12 Trade 6: -13 Day:+6 Week: +83 Month: +71 Have a nice week-end everybody, Little Lex

Here are today's results. I may have over-traded for my standards but I'm satisfied with the overall result. This also means that I will be profitable for 2 weeks in a row! Time for a well deserved beer! Trade 1: -2 Trade 6: -4 Trade 2: +10 Trade 7: +19 Trade 3: +4 Trade 8: +16 Trade 4...

Thanks dubs, I know as a trader I have to keep my emotions in check, including overconfidence. But it is easier said than done. On several occasions I have entered sub-optimal trades after a large winner. I'm trying to learn something new every day and improve my trading. Today I'm proud to...

Hello everyone, Today started out well for me. Right after the open I went short for 21 points. Then I entered a couple of bad trades. Later in the day I had another 17 point winner before finishing of with a 13 point loser. All in all another decent day. Trade 1: +21 Trade 2: -1 Trade...

Good evening everyone, I took 6 trades today - all shorts. After the first 3 trades I got slightly overconfident and took 2 bad trades. All in all a pretty good day though. Trade 1: +5 Trade 2: +6 Trade 3: +26 Trade 4: -15 Trade 5: -8 Trade 6: +9 Day: +23 Week: +18 Month: +6 I...

Hello everyone, I could only trade during the first 2 hours after the opening today. Therefore I was “forcing” trades instead of waiting for the market to come to me. I think on such a day it is probably best for me not to trade at all. Trade 1: -13 Trade 2: +8 Trade 3: +5 Trade 4...

Hi Indexscapler, thanks for your post and your encouragement. Unfortunately I do not have any experience trading any other indexes. However I have observed the ES on several occasions and it clearly has a high correlation with the YM. Good luck with your trading, LL

I am happy to report my best daily result for the last 2 weeks. Today I managed to take out 34 points which also means that I'm profitable for the week. Obviously I still have a long way to go but this result is a huge relief after yesterday's result. Trade 1: +8 Trade 2: +8 Trade 3...

Dubs, I agree that it's difficult to become a profitable trader if you have a risk/reward ratio of 1:1. In that case you are putting yourself under pressure because you need a really good “batting average”. The maximum loss that I allow is 15 points. Therefore I wrote that “I won't...

Extremely disappointing day for me as I gave away 3 days of gains today. One of my main trading rules is not to trade the news. Today I didn't pay attention and had an open position when the Philli Fed Index came out and lost 25 points on one trade. I didn't manage to clear my head after...

dubs07, thanks for reviewing tuesday's trades. I know I should have been more careful with the first one because it was counter trend. I guess when you trade counter trend and previous resistance is not broken immediately then it is time to get out. I think your strategy of moving the stop...

I took 5 trades today. I was very pleased with the first 2 but then somehow I lost my focus. Trade 1: Long position during this morning's uptrend. Good entry but closed too quickly. Trade 2: Long position during uptrend for second peak. This was actually a pretty decent trade. Trades...

I won't enter a trade if I don't see potential for at least 15 -20 points. I don't have a standard sized target but generally set my targets depending on the trade setup. As you can see from my relatively small winners I sometimes close the trade manually without the target being hit. I know...

for trading definitely the 1 minute chart

Hi dubs07, When trading I generally use the 1 minute chart. When looking for setups or trying to understand the "bigger picture" I also look at the 5 and 15 minute charts. Thanks for taking the time to comment on yesterday's charts. I will have a look at the edited charts after the close...

Hi krolyk55, you call your thread "Rookie Trader Journal". I personally don't think a "rookie" should trade 16 contracts at the same time until he has proven that he is profitable (in live trading) over a period of time. Also you wrote that at one point you were down 2.200 and "tempted" to...