Sunday June 21, 2015.
I'm back.
~ ~ ~
It remains to be determined if my last losing ES trade last Wed which dropped my account
margin to below $400 will be a fortuitous event.
~ ~ ~
I was going to re fund my account until I looked at the 20% premium I'd have to pay due to the
C$ conversion.
The only contract available for me to trade now is the E-micro EUR/USD — the M6E.
imo better than a mini lot, a $12,500 contract, $1.25 per pip, day trading margin of only $100
and o/n margin of just $300 .
So now my account balance is down to $260.89 . I've got the rest of the week to make $250
and accumulate enough capital to begin trading the NQ, or, pay the premium and re fund.
~ ~ ~
My trading has been as terrible as ever, I've been banging my head against the trading wall,
Very periodically, Very off, only sometimes on, for months and months on end, fortunately,
AMP don't charge 'Inactivity Fees'.
I've done no analysis on any instrument for an age, just reloaded MetaStock so I can do Daily
and longer chart analysis.
I decided to start this new journal because of that. I've always found writing the journals to be
very beneficial, and this one is to get me back on track with proper daily analysis.
My analysis methods work much better on the Euro than the ES.
What's obvious is the Euro has just one component, the E v $ , while the indexes have many
to very many components/stocks which seems to produce the extra very irregular PTWM
that's not present with the Euro.
~ ~ ~
What trading the M6E has shown me is how different trading a much lower value instrument
is. On the $ loss side it's $12.50 per tick for the ES v $1.25 per pip for the M6E. However the
point is the threat of loss is so very much smaller which makes trading far more relaxable,
easier, and altogether more enjoyable, and as the BBs sang, 'fun, fun, fun'.
I read a 'which index is better to trade' thread and what I thought was missing for consideration
and comparison was, 'tick value'.
So if I am going to trade an index again, it's going to be the NQ.
It appears to be less irregular than the other indexes and thereby a little easier to analyze and
interpret it's Price Time Waves Movement, and, the tick value is a far more manageable $5 .
~ ~ ~
I'll be trying a 12 sec chart to trade off, and 1, 5, 15 displayed with 60, 4H and D minimized to
complete the daily analysis package. Those charts are the 6E and I've a 2" x 2" M6E chart to
see fills and watch where the price is, sitting on top of the Basic Entry.
While trading decisions are based on the 6E charts, it's necessary to wait for the M6E price to
get to where I want to click the button, it does not move in lockstep with the 6E, although it
sometimes gets ahead of it.
I'm still annotating the charts, and still trying to get a Green Buy, Red Sell system working.
I'm a bit closer with that than last I wrote about it. Annotating goes along with it, or rather the
PTWM analysis which is auto with my viewing any chart.
While the low cost single pip of the M6E may lend itself to GBRS trading and trying to reduce
and or eliminate analysis while trading, Friday's 6E Sep vol was 165,543 , while the M6E was
14,357 which may be too low for GBRS trading the 12 sec chart, I'll be finding out.
~ ~ ~
I'm not going to be posting daily trades calls.
I'm not sure actually what I'm going to be posting or when or how often.
Maybe it'll only make sense to me.
Euro: believe it's going Down.
Index: believe they're going Down.
A bit tardy 'sell in May and go away'
To those who've not followed my calls before, and a reminder to those who have,
I've been known to be wrong ~ ~ ~ wah-hahahahahaaaaa
~ ~ ~
Watching the Women's FIFA.
BIG US turnout up here in BC Place Stadium to watch team USA beat Nigeria last Tuesday,
suprised how many came up from far and wide across the States.
Team Canada's up at the same venue at 4:30pm, will see if the attendance beats the USA's.
Footy and trading, can't ask for more eh ? ;
I'm back.
~ ~ ~
It remains to be determined if my last losing ES trade last Wed which dropped my account
margin to below $400 will be a fortuitous event.
~ ~ ~
I was going to re fund my account until I looked at the 20% premium I'd have to pay due to the
C$ conversion.
The only contract available for me to trade now is the E-micro EUR/USD — the M6E.
imo better than a mini lot, a $12,500 contract, $1.25 per pip, day trading margin of only $100
and o/n margin of just $300 .
So now my account balance is down to $260.89 . I've got the rest of the week to make $250
and accumulate enough capital to begin trading the NQ, or, pay the premium and re fund.
~ ~ ~
My trading has been as terrible as ever, I've been banging my head against the trading wall,
Very periodically, Very off, only sometimes on, for months and months on end, fortunately,
AMP don't charge 'Inactivity Fees'.
I've done no analysis on any instrument for an age, just reloaded MetaStock so I can do Daily
and longer chart analysis.
I decided to start this new journal because of that. I've always found writing the journals to be
very beneficial, and this one is to get me back on track with proper daily analysis.
My analysis methods work much better on the Euro than the ES.
What's obvious is the Euro has just one component, the E v $ , while the indexes have many
to very many components/stocks which seems to produce the extra very irregular PTWM
that's not present with the Euro.
~ ~ ~
What trading the M6E has shown me is how different trading a much lower value instrument
is. On the $ loss side it's $12.50 per tick for the ES v $1.25 per pip for the M6E. However the
point is the threat of loss is so very much smaller which makes trading far more relaxable,
easier, and altogether more enjoyable, and as the BBs sang, 'fun, fun, fun'.
I read a 'which index is better to trade' thread and what I thought was missing for consideration
and comparison was, 'tick value'.
So if I am going to trade an index again, it's going to be the NQ.
It appears to be less irregular than the other indexes and thereby a little easier to analyze and
interpret it's Price Time Waves Movement, and, the tick value is a far more manageable $5 .
~ ~ ~
I'll be trying a 12 sec chart to trade off, and 1, 5, 15 displayed with 60, 4H and D minimized to
complete the daily analysis package. Those charts are the 6E and I've a 2" x 2" M6E chart to
see fills and watch where the price is, sitting on top of the Basic Entry.
While trading decisions are based on the 6E charts, it's necessary to wait for the M6E price to
get to where I want to click the button, it does not move in lockstep with the 6E, although it
sometimes gets ahead of it.
I'm still annotating the charts, and still trying to get a Green Buy, Red Sell system working.
I'm a bit closer with that than last I wrote about it. Annotating goes along with it, or rather the
PTWM analysis which is auto with my viewing any chart.
While the low cost single pip of the M6E may lend itself to GBRS trading and trying to reduce
and or eliminate analysis while trading, Friday's 6E Sep vol was 165,543 , while the M6E was
14,357 which may be too low for GBRS trading the 12 sec chart, I'll be finding out.
~ ~ ~
I'm not going to be posting daily trades calls.
I'm not sure actually what I'm going to be posting or when or how often.
Maybe it'll only make sense to me.
Euro: believe it's going Down.
Index: believe they're going Down.
A bit tardy 'sell in May and go away'
To those who've not followed my calls before, and a reminder to those who have,
I've been known to be wrong ~ ~ ~ wah-hahahahahaaaaa
~ ~ ~
Watching the Women's FIFA.
BIG US turnout up here in BC Place Stadium to watch team USA beat Nigeria last Tuesday,
suprised how many came up from far and wide across the States.
Team Canada's up at the same venue at 4:30pm, will see if the attendance beats the USA's.
Footy and trading, can't ask for more eh ? ;
