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yeah iit seems so till now!..i was short before so good point to save my aasss also :)

my pre-open plan was to go long at the start of the day, but some mis-calculations and instead I went short. Finally covered it at 1242.5, and now long 1242.5

short 1240.5

Mav, many thanks for sharing this post. I am going to make a copy and file it. It will really help me evolve as a trader. Btw, are you serious that 98% of prop traders in your group blew up overtime? That means number must be greater than 95% for the retail public. I mean just 2% success rate...

Thanks, Very interesting way to look at things! I primarily trade FX (Euro, AUD, JPY and CHF) and ES. All noisy and widely followed. Will you please list some futures/stocks that you will classify in the 'unheard of' category. I will start following them for few weeks/months to see how I can...

Thanks for the link. Definitely worth exploring!

Haven't really read through the whole thread, but scanning this post caught my eye. Very often, quants and MBAs from Wharton etc. think that they need a lot of sophisticated analysis to make money in the markets and all simple ideas must have been arbed away by gazillion hedge funds out...

5 trades today - taking them now following are current prices. 1. Buy 200k EUR @ 1.3057 2. SEll 200k AUD @ 1.0135 3. Sold 1 ES @ 1243 4. Sell 100k EURCHF @ 1.2226 order to sell 100k AUD @ 1.0145 and 1 ES @ 1246 Profit booking on above, and gold hasnt been performing as well, so...

Good take Ammo! Nicely written.

Alright, time to modify the portfolio a bit also, Adding long 2 ES @ 1236 long 200k AUDUSD @ 1.01

Alright, time to do a MTM after day 2. Made no changes to the portfolio today, primarily because I have only one monitor and its too distracting to open up the papertrader. So I am not happy with myself, and I seriously think this experiment will have utility only when I am changing positions on...

9 trades for me today: 6 scalps, and 3 longer duration trades scalps: 0.25, 0.75, 0.25, 0, -0.25, -0.5 Longer trades: 5, -7.25, 1 sum: -0.75, comm: -0.75, for a total loss of -1.5 points. I was not sure if I should have taken the -7.25 trade, and it seems that made all the difference :eek:

out 36.5

good trade man! and the way you are tightening your stop, I see you really want to get out of this trade now !

closed at 1236. Now long 1235.5, hoping to catch a run here.

sim short at 1232.5...already a real short position on....no buying power, so sim short

Satchel, can you please explain your reasoning a bit for this short set-up. Thanks a lot.

short 1228.75, not very sure on this one, but taking my chances again. wont give this trade more than 20 minutes if it doesn't work

Yes, it is disguised QE in Europe, and surely they resisted doing it for long, but ultimately have to do it. Correlation of Euro with riskon/off has surely decreased over the last week. Your thesis that it will keep decreasing overtime makes sense to me. As of now I am also short Euro against...

Thanks Josh and Trvlwanderer....I have lost way too much money trading ES....every win is a step forward :)