Baggerlords Journal

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1. Short 8999 Cover 9020 -21. Trying to trade Hershey method, already posted above.
2. Short 9013 Cover 9019 -6. Getting back in short term mode, too excited and jumping my trades.
3. Long 9015 Sell 9021 +6 Pullback.
4. Short 9020 Cover 8990 +30 Divergence.
5. Short 8993 Cover 8982 +11 Pullback
6. Short 8989 Cover 8984 +5 Pullback, divergence got me out early.
7. Long 8989 Sell 9001 +12 Divergence
8. Long 9023 Sell 9033 +10 Pullback
9. Short 9030 Cover 9022 +8 Divergence
10. Short 9021 Cover 9007 +14 Pullback
Day +69
 

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I've been analyzing my trades from this morning, and realized that I am treating my 1-minute setups the same as my 3-minute setups. By this I mean I am as quick to take profits on the trades that come from the 3 minute chart as the 1 minute. This is very wrong. I need to let the 3-min setups run longer, because these are the stronger setups. This is something I will work on tomorrow. I will also start trading afternoons pretty soon, maybe on Monday. I am not going to take that housekeeping job, because I am not a woman. My handyman job is great because I can work whatever hours I want, so starting next week I think I will take a lunch from 10:30-12:30 or so and make some more trades. I'm also starting to consider moving up to two contracts, but will wait at least until the end of next week.

It really feels good to be trading this style again, because I am a very hyper person and can't handle these half hour long trades. I also like it because I can use tiny stops and this is easy on my nerves.
 
Nice trades! And thanks for sharing them. I was wondering if you could describe your approach to pullback trades.

:)
 
Quote from Robby:

Nice trades! And thanks for sharing them. I was wondering if you could describe your approach to pullback trades.

:)
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Well it is pretty unscientific. First you need a breakout, then price pulls back. I take the trade only if it is a "nice looking" pullback. I wait for price to resume the trend. Sorry I can't be more specific than that, but I am very instinctive.

See my first post and click on the thread about pullbacks, it is very useful.
 
I don't think I am going to post my results here anymore. I'm not really getting anything out of it, and it is more like a chore than anything. I will post if anything interesting comes up. I steadily made profits today, mainly off pullback trades.
 
I blew out my account today.

:(

I was doing great in the AM, up over $100, which put my balance over $4k, or double my initial. I was feeling like hot shit. I decided since I doubled my money I would double my positions. I had a few trades go against me, and being that I am hot shit, I got pretty annoyed. So I anger traded. I had my favorite setup come up(haven't posted it before, it is my secret :)) and took out the max contracts I could with my $500 margin(BTW I was trading ES today, making this much worse). It went way against me very quickly, and before I cut my losses I was down about 1k. Now I did the ultimate stupid. I had never seen this setup fail before, so I figured I was in for something big, and reversed position, max contracts again. BAM. Held like an idiot and next thing I know I'm down to about 1050, $50 away from having to send in more money.

I'm not too upset, I know most new traders are supposed to blow an account or two, and I've only been doing this for a month or so. I have more money, but I won't send it in until after labor day, when everyone says the market gets better. After todays escapade I am imposing on myself two weeks of paper trading as punishment, once(if) my $50 is gone.

I'm sure some if you will get a big kick out of this, and that is OK, I am a big boy, I can handle it. I'll be back and I will have the last laugh. :)

If you want to have some good fun be in the chat room tomorrow morning and watch me trade with my back to the wall, and see if I can make the mother of all comebacks. If not, YOU can be the first one to make fun of me!

Well, there it is. I am not shy about posting my winnings and I will post it when I screw up too. I have no problem with my methods at this point, because nothing I did today was in my methods. I have all the tools, all I need is the discipline. I almost feel now like I am part of a club, now that I have(probably) blown my first account.
 
Quote from baggerlord:



I blew out my account today.

I'm not too upset, I know most new traders are supposed to blow an account or two, and I've only been doing this for a month or so. I have more money

I almost feel now like I am part of a club, now that I have(probably) blown my first account.
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Now that's some crazy thinkin'
 
Quote from baggerlord:

So I anger traded.
More...

When you feel angry, turn off your computers for the day. Walk away from the market til you are in the proper mindset to trade. If you had had somebody looking over your shoulder today, they probably would have told you to take a break. You need to develop the skill of looking over your own shoulder (if that makes any sense).
 
Quote from baggerlord:

I blew out my account today.

...I was feeling like hot shit...

...So I anger traded...

...took out the max contracts I could...

...I had never seen this setup fail before, so I figured I was in for something big, and reversed position, max contracts again...

...I know most new traders are supposed to blow an account or two, and I've only been doing this for a month or so...

...After todays escapade I am imposing on myself two weeks of paper trading as punishment...

...I'm sure some if you will get a big kick out of this...

...I will have the last laugh...

...If you want to have some good fun be in the chat room tomorrow morning and watch me trade with my back to the wall...

...I have no problem with my methods at this point, because nothing I did today was in my methods...

...I have all the tools, all I need is the discipline...
More...

Read the above you wrote and try to figure out what's wrong...

if you can't see it...

you will blow out your account...again and again and again.

By the way...I'm not laughing because your blow up exposed a serious problem...

your reaction exposes a bigger problem.

NihabaAshi
 
I know what my problem is...I traded like a complete fool. I have great setups, all I need to do is stick to them. Discipline, discipline, discipline. If it sounds like I am taking the money lightly please don't misunderstand me. I accumulate that money at the rate of $8 per hour.
 
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