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wow, do I need to exit at the close if price is above 2146? it is +20 points from the second lot entry. probably I will exit. and regret it in couple of days when price reach 2170 area.:D:D

I haven't. I don't have a tool or data set to do that. I just think entry at market close is better because of temporary dd vs. permanently missed profit aspect of it. maybe I am wrong.

lovely market action so far :D As posted, I entered at yesterday's close. If I waited until this morning, I could have 5 or 6 points better entry. When trend is confirmed, is it better to enter or wait until next morning? I used to think a lot about this question. My conclusion is it is...

I am not 100% confident. and I am nervous about my position. Today is election day, and I have full size position. I've been in this business long enough to know that anything can happen.

Why so many unfriendly comments? It's not even funny and no value whatsoever.

Assuming market goes upward post election, when do I exit position and take profit? My second ES lot @ 2126, I will probably aim 20-30 points profit. It is prudent to realize half profit even though market shows no sign of reversing the trend. For first lot, I have to consider economic...

** POSITION UPDATE ** bought one more ES @2126 per 100K capital long 2 ES contracts @ 2084 & @ 2126 per 100K Unrealized P/L = +$2100 / 100K (+2.1%) Realized P/L = 0

My take on daytrading: daytrading is like playing 100 participants $300 buyin poker tournament everyday. You can never make a million dollars doing this. rather you will surely lose more than 10K after one year. with current high frequency trading, it's like there is a cheater at each table...

Adding to winners requires not only being on the right side of the trend but also being in the early stage of the trend that you intend to ride. It looks more likely that this satisfies both. we shall see.

If monday's market closes near high of the day, and the price is right, I will buy one more ES per 100K at the close. adding to winners is tough psychologically, but it is a critical part of achieving higher return. If you are on the right side of the trend, then market will take care of any...

Hey, thanks for the reply. I always try to remind myself that return should be on yearly based not monthly, and that mind set helped my trading performance a lot. on each trade, aim 40-60 points profits per one es contracts per 100K capital. that's my goal.

No position change, same as yesterday. LONG @ 2084, 1 ES contract per 100K ES 2079 is a possible inflection point, but two more days of volatile trading is ahead.

Is today the end of spx correction? I doubt it. I have to see till the end of close, but market action is not WTF enough to be an end of correction and resume of an uptrend.

I don't daytrade, maybe that's why I don't see the value of stops. I don't know your trading time frame or style, but I don't think hard stops is necessary in my style of trading. One more thing, I never claimed that I am a winner in this trade. so just calm down.

I believe spx is in uptrend started on June 28th(after Brexit fiasco). past week of so has been a rather large correction in the market(Thanks james comey!), but still uptrend is intact. I expect one or two curve ball next monday and tuesday, but so far signal is still up.

I survived because I don't use TA and hard stops. I expected a kind of fun experience posting here, but your comments make me rethink about this online trading journal.

one more thing, past couple of years, one can say it was not a trending market at least in SPX. but still this strategy managed to generate good returns in those years. I believe this strategy can be profitable in both trending and non trending market environment and it identifies trend changes.

You are correct. the whole point of this strategy is identifying trend changes. and I switch my position from long to short and vice versa accordingly. hope you enjoy the journal! ^^

I don't use TA and I don't use stops. so unfortunately your suggestion has little value to me. anyway thanks for your input.

well, my intention was to share profitable strategy real time, not asking for trading advice. I won't share my trading decision making mechanism here, but max dd usually happens right before huge reversal in P/L. and what really matters is that I've been quite profitable every year using this...