Aphie's REAL Trading Journal

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Originally posted by aphexcoil


I will be attempting 1 or 2 +1 ES scalps with a -1.5 ES stop loss.

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Just curious, why target just 1 es point? Even if you're just starting out, the idea is to find the best opportunities available during the day, and the ES makes 1 pt moves every 10 seconds or so -- how are you going to differentiate noise from edge?

JMO, there's a million ways to skin a cat. But the way your target and stop is set up, it seems that you are putting the priority upon number of winning trades, rather than gains per trade compared to losses per trade. Why not watch the market for a while longer and try to see where you can spot the bigger moves?
 
Originally posted by illiquid



Just curious, why target just 1 es point? Even if you're just starting out, the idea is to find the best opportunities available during the day, and the ES makes 1 pt moves every 10 seconds or so -- how are you going to differentiate noise from edge?

JMO, there's a million ways to skin a cat. But the way your target and stop is set up, it seems that you are putting the priority upon number of winning trades, rather than gains per trade compared to losses per trade. Why not watch the market for a while longer and try to see where you can spot the bigger moves?
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My system primarily can be used on many time-frames, although my account size will only allow me so much of a drawdown. That is why I went for the smaller scalp today.

I am done trading for the day.

Attached is a graphic of my trades.


My first trade was an ES scalp that was successful

My second trade was a debit spread on PUTS with QQQ.

My third trade was a .05 LONG scalp on QQQ (moreso for practice in order execution).

I have one "daytrade" remaining (Thank you SEC).
 

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If your system works on multiple time frames, why don't you apply it to QQQ on a longer time frame. Get around the daytrading rule by not daytrading :)
 
Just keep in mind, you don't need to widen your stops to go for bigger gains, so your account size shouldn't be a problem. I use about a 1-1.5 stop when going for 4-5 pts. jmo!
 
tight stops are really healthy, they can give you a lot of stress, plus it seems to me that you do not trust your method very much if you need to protect yourself that much. I find 4 pt stops optimal for me, my targets are 4-6-8 pts.
 
I am taking a breather because I just did something suicidal.

I took a short position in YM at 4:15 or so and got creamed for $200 when MSFT released their earnings report.

I've managed to tear through nearly 10% of my account in TWO days with futures.

I do better with daytrading SPY and QQQ but the leverage amount of futures is huge compared to my account size.

I cannot believe how stupid I am.
 
I am going to the gym and running and getting my mind off this market.

Boy how naive was I before jumped into this hot fire.
 
Originally posted by aphexcoil
I am taking a breather because I just did something suicidal.

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I cannot believe how stupid I am.
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These are the feelings most every experienced trader gets every few days, so don't let it cripple you. If you can't articulate why you are putting a trade on, then don't do it "They look a little weak here" doesn't count.
 
That YM hurts, i know. i too left a few points get away from me on the nq and es so i tried the ym, hey its only 2 bucks a point - how bad can it get. well, the spread on it was horrible and the liquidity too. tying to trade those on small 5-10 minute trades is kinda tough. Lets say you see a nice set up, well you lift the offer get a contract but its already a several points away , then the move stalls out or goes against you and you easily pay a 10+ point spread - heck even more. so trying to go to YM instead of the NQ or ES is still tough. I almost feel better with the nq or es as i know that if the trade isnt working out im not going to pay for it big time in terms of a big spread. everytime i came back to the YM it ripped me up. For "me" it wasnt the product to trade. Man, in your case i would almost say, go and trade the spy or the qqq's, do it 3 times a week, so that you dont get hit w PDT, that way you'll be forced to take the time with your entries knowing you only got one trade to do and thats it. heck trade monday wed, and fri, the days in between just sit and watch, or take paper shots, but shooting left and right will get you in deep sit. Been there and am still crawling out of it. It stinks down there:mad:
 
IMO, you might want to avoid pre and post market hours.....especially when a giant tech company is about to report earnings.
 
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