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Since I went back to my 2 pt. net daily goal my trading has improved and my stress level has gone down tremendously (generally done by noon versus trading all day).

Recently I toyed with the idea of modifying my 2 pt. net daily goal to a 40 pt. net monthly goal, so I could adjust my daily goal accordingly after a losing day (go for more points per contract), to make up losses during the month, but the psychological impact prove to be too much. My trading...

IMHO trading is about probabilities, so if you are up early and all your trades are working beautifully, then it is just a matter of time before you have a loser. So you should consider stop trading while you are up (at or near your goal), because having a big loser late in the day is sometimes...

What dollar amount per contract (ES) are you comfortable with?

I like to mainly trade with the trend; however, I do have a counter trend setup I like to trade. Therefore after a bad day I generally see ample opportunities to make up some or all of those losses. IMHO I believe the 2pt. a day goal per contract approach was an attempt to control Greed and...

I think I will take baby steps and start with a variable daily goal based on what daily average is needed, during the month, to achieve the overall monthly goal.

Your comments are very similar to what I've been thinking. Especially since I'm on vacation most of this week and will be unable to trade; therefore I'm not meeting my daily goal. Up until now I've been a 2 pt. a day, per contract, kind of guy, because of my initial training. I'm begnning to...

This is a serious question. I'm looking for feedback from some of the profitable traders here on ET. In other words which is best a daily or monthly trading goal and why?

A 2 pt. (net) ES daily goal, per contract, or a 40 pt. (net) monthly goal, per contract (assuming 20 trading days)?

It has been a tough day!!! I was down all day until the last downward move.:D

My strategy worked perfectly today, but I got in the way.

I tried not to look at the DOM, but I didn't have a choice since the market was moving so fast and erratic.:(

I should have taken the day off. The jumpiness of the market got to me; therefore, I didn't trade the plan.:mad: I'm done for today.

I was hoping you would prove me wrong. When the market is jumpy like today I try not to look at the DOM, because it makes me anxious.:(

When in doubt stay out. Some traders specialize in trading rollover days, some stay out until the new front contract has enough tradable data, and some completely ignore the change. Since my method is dependent on volume and past price action (higher-highs & lower-lows) I prefer to sit on the...

4re, You should consider not trading tomorrow since you are not familiar with how price and volume behaves during rollover dates. Volume will get thinner for the June contract between the Roll Over date (June 8, 2006) to the September front month and the last Trading date (June 15, 2006)...

Rollover days can distort volume, tick, & long term time charts.

Rollover Day for Emini and Futures 2006 June 8 Rollover for Emini and other futures contracts. Switch month code from M to U. Typically you will switch from M6 to U6 on all your contracts by or before 09:30 EST today. More information about rollovers can be found here...

Since tomorrow is a Rollover Day for the ES I may stay out of the market until the afternoon.

Good Job!!!