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+ $271 ES paper trading strategy was to short the open due to global economic growth projections being significantly worse than expected. Paper trade of the month +21 pts by the time my trailing stop was finally hit. :D Short STEC @ 23.97 on open, covered @ 23.55: +$167 Short ESRX...

You often hear of traders who attain enormous success for a few years, only to blow a good portion of their capital, and you ask yourself, "How could a good trader do that?". The quote above provides insight into the thinking that leads to this phenomenon. Every trade is absolutely new, no...

Spot on, my warm weather friend. Trading creates an environment which, when Mom says to you, "I don't care what everyone else is doing! If everyone else jumped off a cliff, would you jump off, too?", the correct answer is, "Yes."

This is one of life's greatest lessons to me, and it's why I survived my first year trading. Your use of the plural confuses me; is not the action of the majority the ONLY leading indicator of price?

A college grad asked me not long ago for some words of wisdom. Family, friends, career advisors all had opinions for his career choices, but he loved trading and wondered if it was viable option. Here is my reply: "There is no job security, despite what others may tell you. We have so...

Boys and girls, say what you will about ET, there's not too many places you can get this kind of wisdom for free.

This exact thing happened to me setting up qty defaults in TT-Trader the other day. Changed the 1 to a 3, got 13, tried it again, 13. Tried it a different way...13. Finally, did something and was able to get a 3 in there. Is there a guild of secretly evil programmers working on these trading...

http://www.elitetrader.com/vb/showthread.php?s=&threadid=166195&perpage=6&pagenumber=1 Get rid of the concept of "right" and "wrong" about a trade, about yourself, and about what price and the market "should" do. When you put on a trade, you expect it to go a certain way based on any of a...

Guys: If you have something constructive and useful to add to this journal that could benefit Neke as well as the subscribers, post it here. If you want to make a snide comment to Neke, or discuss something very specific with him, PM him. If you want to argue with each other and engage...

Thanks! Having very strict rules makes it all very mechanical, and feels very "safe". Moving stops too close is still tricky for me, in both this paper trading AND my actual stock trading. Only 2 days this week did I violate the opening bar's signal. The first time was Monday, when I chose...

I started using a new trading platform about a month ago and have been trading very small size while getting used to it (made a few mistakes and was glad they were 200-share mistakes instead of 1000-share mistakes). With small size I sometimes found myself entering trades prior to an ideal...

Hermit, this P/L post made me laugh so hard I believe it added an extra year to my life.

- $205 Day +$161 Week +$1864 Month Just my one overnight trade, then paper traded some more ES.

- $205 Day +$161 Week +$1864 Month ESRX 66.85 stop triggered on open, filled @ 66.75 for -$205. This one was looking good pre-market, then news about a lawsuit being dismissed hit the wire at the open, driving the price up to 67.60. Later put on another swing short ESRX @ 66.60 when it...

Everybody wants me to NOT trade ES, but I am liking it a LOT (on paper anyhow). I also like the tax advantage and the fact I can trade a very small part of my account. I'd like to move some more of my Etrade acct to IB and leave a small amount for trading ES. All I have in IB now is $30K for day...

Very solid analysis, and both are strong long term investments with proper risk management. Two people can go long and short the same stock and depending on time frame, both can make money. I am day trading/swing trading them, and my strategy is to short the stocks at these prices to take...

I've been trading with real money since my first trade last spring. I often "paper trade" a strategy before trying it out, but all the trades I post in this journal are real. I've also been trading 500-4000 shares since I started trading last year. The reason I backed down to 100-200 share...

I've been paper trading ES for a while now and have made a few hundred dollars each day on 1 car using 3 pt stops, and using Hog's opening strategy combined with my own strategies for intraday moves. Today, for example, was a $600 day. I am assuming that when I actually trade I will be as...

+ $76 Offered 24.20 STEC on open, never came close before its big drop. Small ESRX short, stop to b/e, stopped out b/e (-$1). Short very small STEC @ 23.20 when it broke down the LOD, stop to @ b/e because of how low it was, out for -$13 with slippage as it found support just below that...

+ $76 Hardly any trades today, continued paper trading ES and played some guitar. Lazy day :p