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Mon Dec 9 09:42:33 2002 EST Globex is currently experiencing internal network issues that may affect order routing. GLOBEX Trading: GLOBEX is currently unavailable. All other IB systems are functioning normally.

No trades today. I am currently in the process of evaluating my trading methods and making refinements. I feel that in order to do this most effectively, I need to step away from the market for a few days and not do any live trading. I'll probably start posting again in about a week. Talk...

As long as it keeps working, stick with it. You said it yourself, "My ego hates this - but my family loves it!" If your family loves it, you must be making good money following the calls. But the key word here is EGO. Ego should not be part of any trading methodology. Put your ego aside and...

Wally, I believe you are correct. I am trying to do too much (too many different kinds of setups) and as a result I am just confusing myself. I read an article by Linda Rasche recently and in it she said that the best traders tend to specialize in just one or two types of trades. Jack of all...

Another disappointing day for me. After 3 consecutive losses, I stopped trading real $, but continued to watch the market in the hope I might learn something by plotting stochastic divergences. In the chart, trades D and E were only paper trades. Funny how they were the profitable ones! Oh...

You've probably noticed the same thing. On the days when I have done more than 4 trades, my results have been poor. On the other hand, on the days where I sat patiently for the higher quality opportunities, and only took 1 or 2 trades, I almost always ended up positive for the day. Diagnosis...

I can't take any more punishment. 7 Trades -19 points. (ouch) 6 losers, 1 winner

Db, I wish I had been more honest with myself when I said I was done for the day earlier. I ended up going back into the market, only to lose another 4.5 points!! Right now I'm convinced the CME is using my buy and sell orders to decide where to reverse ES. "Hey, look Corallus is selling...

I need to quit for the day. I've lost 14.5 points in 4 trades. Whipsawed out of each one in turn. It seems like everything I touch today turns to shit. I feel as though I could incite a rally in the S&P if I were to choose to short right now. Likewise, I could make the S&P drop off the...

Intellegence Important: Yes Will it Make me Money: Not by itself, it won't Here's what you need: 1. Enough intelligence to generate trading ideas and strategies (remember, good strategies don't have to be complex) 2. Execution skills to carry out your plans. This includes not...

Absolutely. You are proving that a good trading strategy does not have to be complex. A lot of people, myself included, could learn much from your example.

The morning drop after 10:00 was smooth, IMO. The rest of the day was choppy. From a more macro view, it could be said the whole day was smooth, since we opened near the HOD and closed near the LOD. It's all in one's Point of View.

Thanks for posting that, acrary. It's a good reminder that where you enter isn't nearly as important as what you do after you're in. I bet if you were to take surveys of two groups who trade the same instrument, group 1 being a population of profitable traders and group 2 being a population...

Two Trades today. Trade One: 30min breakout. Short 947, Exit 936.5, +10.5 points Trade two: Bought after being set up by three diferent bullish divergences (Stochastics, MACD, and TICK) between the price lows at 11:00 and 2:30. The trigger to enter the trade was a break upwards through...

5.5 points from the beginning of the journal (11/18) to the end of November. I didn't trade from 11/26-11/29 (sick days :D )

Welcome to the second installment of the “Corallus Chronicles.” Quick Background: I have a cumulative total of two years of full-time active trading experience (in stocks and equity options) over the course of the last six years, but I am relatively new to the futures markets. I’ve...

If it does, it means you are not ready to scale up yet. Here's a common example: Let's say you have a successful strategy trading one contact, and then you decide to scale up to 2 contracts. Then you decide, Why not reduce my stops to keep my dollar risk the same? So you go from 4-pt stops...

You Snooze, You Lose...or, at least you don't gain:D Slept in to 9:00 Pacific (noon Eastern), still have the cold thing going:( S&P was at 938. Hmm, nice rally. Let's see...how could today have been played? Had I been up I would have loved an opportunity to buy the pivot at 917...

Here is a chart of what the divergence I was talking about.

Thanks, Wally. I'll try my best. BTW, did you catch the Type II bearish stochastics divergence (lower price peak, higher stochastics peak) at 12:20 today? I woke up too late, but that one was good for a handle.:cool: