$5k e-mini journal
- Thread starter walter4
- Start date
Quote from walter4:
Day 8 results: +$60 on 1 YM contract
Total humiliation. I exited the trade 90 points too early, breaking my own rules. 30 min later my platform crashed. I'm going to reinstall Windows, this is pointless.
walter
ur da man
just skip the phucking charts, you can replace them by redtube.com which is more effective for picking the perfect entries and exits
Walter, think about the possibility of trading the Russell. Breakouts (when everything is in alignment) are very fast, and are usually good for a quick 10 ticks w/o much retracement. This a.m. was a great example. The two down moves yielded about 30 pts each. Watch the vol and trades---look for block trades (multiples). I usually have to place mkt orders because it's so fast. There was an opportunity setup for 10 ticks, got out and back in a couple of times. I diddled around earlier (was up as much as $300) and then negative going into that trade, which put me over the top.
Often traders keep an ES, YM, $SPX, ZB, in small 5 min plain OHLC format. You can watch for correlations...what's leading, etc. to give you heads up. I've seen pros doing this on the screen as well as the floor (looking at the boards overhead). They also know the prem. and keep that in the back of their mind.
Obviously things have changed some; we know that gold & oil was a sleeper for a long time, so now it pays to know what's been going on overnight. And play off the news, but be really careful there--although some guys trade the news and go home for the day. You can also get your ass ground up...
Good trading.
Often traders keep an ES, YM, $SPX, ZB, in small 5 min plain OHLC format. You can watch for correlations...what's leading, etc. to give you heads up. I've seen pros doing this on the screen as well as the floor (looking at the boards overhead). They also know the prem. and keep that in the back of their mind.
Obviously things have changed some; we know that gold & oil was a sleeper for a long time, so now it pays to know what's been going on overnight. And play off the news, but be really careful there--although some guys trade the news and go home for the day. You can also get your ass ground up...
Good trading.
