Awash's Journal

hi awash

i was looking at your trades and i must say you dont seem
to have a nice risk/reward... your losses are huge compared
to your gains... you should do something about it.. reduce your
stops or increase your targets. if thats impossible than dont take the trade. you take 5 or 6 trades a day, you would probably be better off taking only the best half of them anyway.

zel
 
A lot of hapzard trading!

Trade#1 – (PAPER)
*Short 1127.00 - 10:18 EST Stop: 1130.00 Target:
*Cover 1129.00 - 10:36 EST [ P/L: - 2.]

Trade#2 – (PAPER)
*Long 1127.00 - 11:48 EST Stop: 1124 Target: 1130.50
*Exit 1127.00 - 12:25 EST [ P/L: 0 ]

Trade#3 – (PAPER)
*Long 1125.75 - 12:40 EST Stop: 1124 Target: 1130.50
*Stop 1126.00 - 13:08 EST [ P/L: + 0.25 ]

Trade#4 – (PAPER)
*Long 1126.50 - 14:42 EST Stop: Target:
*Stop 1126.50 - 14:49 EST [ P/L: 0 ]

Trade#5 – (PAPER)
*Long 1128.00 - 14:54 EST Stop: Target:
*Exit 1130.50 - 15:00 EST [ P/L: + 2.50 ]

Trade#6 – (PAPER)
*Short 1130.75 - 15:30 EST Stop: Target:
*Cover 1132.00 - 15:41 EST [ P/L: - 1.25 ]

Trade#7 – (PAPER)
*Short 1132.75 - 15:50 EST Stop: 1133.75 Target:
*Stop 1133.75 - 15:52 EST [ P/L: - 1 ]
 

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I was able to follow the rules today and stayed disciplined with my trading. I paper traded today too but from today on I’ll only post real trades!

Trade#1 – (Live) Took nice divergence setup, entered off 1 minute chart but I was nervous with this trade and reset my stop after price moved in my favor by 1 point. I entered on time but poor trade management killed this trade. Didn’t give this trade room to develop.
*Short 1134.75 - 10:19 EST Stop: 1136.00 Target: open
*Stop 1134.50 - 10:26 EST [ P/L: + 0.25 ]

Trade#2 – (Live) Took another divergence signal; entered off 1 minute chart and set attainable target of 2 points. This trade worked in under ten minutes. I wish they all can be like this!
*Long 1132.75 - 14:55 EST Stop: 1131 Target: 1134.75
*Exit 1134.75 - 15:03 EST [ P/L: + 2 ]
 

Attachments

I was able to follow the rules today and stayed discipline with my trading. Because of the tight range mid-day I switch to CHERRY-PICKING mode later in the session and remained highly selective.

Trade#1 – (Live) Got long after price broke out above the 1126.50 area, I wanted to be in by 1126.75 after confirmation of an upward push. Price moved in my favor by 1.75 points but stalled at 1129.00. I reset my stop as usual per my trade management rule and quickly got stopped out.
*Long 1127.25 - 15:11 EST Stop: 1126.25 Target: 1129.50
*Stop 1127.50 - 15:16 EST [ P/L: + 0.25 ]
 

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Quote from Fast_Trader:

Awash, did you watch the market the whole day? How come no shorts? :confused:

-Fast
More...

Fast

I'm not sure if you know, but I'm not a disciplined trader. Truthfully, I lack a lot of discipline and self control.

My goal for February is to stick with the daily plan and continue developing my discipline and self control. I plan to do this by executing no more than 2-3 live trades during the afternoon session (will trade the a.m. hour too). I'm using this as a test to see if I have the discipline to stick to my rules (I'm slowly conditioning myself).

As to watching the market today, of course, I tracked ES price action throughout the session. After the fact, it's easy to say "why not short when price is trading lower?!" But of course we all know it's a different story when you're trading intraday.

Nevertheless, I avoided the tight range during the noon hour and missed the drop. When lunch ended for me my objective was to catch a potential reversal but price didn't agree with my objective and my long position didn't work out. Fast, tell the market to move in my favor tomorrow!!!!!!! :D

Overall, I'm happy with my trading because I stuck with the plan, discipline wasn't all that great but it'll be a continuing learning process. Whatever happens, wish me luck!

Keep posting..........
 
Quote from Awash:

Fast

I'm not sure if you know, but I'm not a disciplined trader. Truthfully, I lack a lot of discipline and self control.

My goal for February is to stick with the daily plan and continue developing my discipline and self control. I plan to do this by executing no more than 2-3 live trades during the afternoon session (will trade the a.m. hour too). I'm using this as a test to see if I have the discipline to stick to my rules (I'm slowly conditioning myself).
More...
I certainly with you luck, but trading successfully shouldn't be just luck.

Regarding your discipline, are you sure that your plan is a good idea? I mean, trading requires a free-flowing mind. I'm not sure limiting yourself to trading particular times; or number of trades will help. Discipline is entering a position off your signal, and then if/when you see conditions change, you get out. Getting in on time requires as much discipline as getting out.

Think about it. Look at some of other traders who are successful, like NihabaAshi or AMT. AMT is by far the most successful trader I know on ET. I think that's because he trades free; with no boundries!

-Fast
 
Wasn't able to really get anything going today. A lot of signals late morning and in the noon session but I didn't act on any. Stopped early today because I couldn't make quick decisions.
 

Attachments

hey this is my first post here on this site.

my question is what kind of layout or workspace are you using? how many charts do you have going at once? studies you use? indicators etc?
what time frames are you using also? aside from the 3min.

are you following other markets as well? if so do they coorelate or what happens if there is a divergence?


how would you describe your style of trading?

i was able to get a small scalp today, not much +1.25 total. but i was away most of the afternoon when i saw after the fact my setups had occured.
 
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