Damir's Trading Journal

the adventure is over for another day, all out @ 9411, mr market got his pound of flesh out of my ass last 24 hours.

it's gonna happen, may as well plan for it.
 
i'm already at #indexfutures, don't really have mental bandwidth for another place to post trades.

Quote from Fast_Trader:

Question to the experienced traders....are you guys familiar with Yahoo messenger? Would you be up for posting trades real-time in a private Yahoo messenger chat room?? I'd be up for posting all my entries/exits real-time. It's much easier to do in a chat-room than on a forum. Please PM me.

Regards,

-FastTrader
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Quote from Fast_Trader:


. What kind of stop-loss would you recommend? In my eyes, it needs to be set where if you're wrong, you get out with minimal damage, but wide enough where if you're right, you don't get shaken out of your trades.
-FastTrader
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PARABOLIC SAR as your exit point and/or reversal.:cool:




p.s. damir according to intra-day technicals.......ES has successfully RUN ALL THE STOPS!!!
Market is now poised to take off like a rocket over the next 3-4 days. This market has proven to be VERY RESILIENT!!!:D

Your Bullish outlook could prove correct after all.
 
Quote from Fast_Trader:

it needs to be set where if you're wrong, you get out with minimal damage, but wide enough where if you're right, you don't get shaken out of your trades.
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you've asking for the ET holy grail that many are searching for. a/the problem is volatility isn't constant, but if you build volatility-dependant stops you're now not only having to get the market direction right, but also the way it moves towards that direction.
 
Quote from damir00:

i'm already at #indexfutures, don't really have mental bandwidth for another place to post trades.
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Is this on IRC? How do I check this place out? PM me some info Damir.

Thanks,

-FastTrader
 
Quote from damir00:



you've asking for the ET holy grail that many are searching for. a/the problem is volatility isn't constant, but if you build volatility-dependant stops you're now not only having to get the market direction right, but also the way it moves towards that direction.
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I think my current stops are close to what I'm looking for; i.e. they get me out without too much trouble, and I generally do not get stopped out of a good trade. I exit myself with small profits...so it seems the problem is not the stop-loss, but my exit only.

-FastTrader
 
Quote from Fast_Trader:


taodr, unfortunately, my account isn't big enough to trade without stops. What kind of stop-loss would you recommend? In my eyes, it needs to be set where if you're wrong, you get out with minimal damage, but wide enough where if you're right, you don't get shaken out of your trades. My stops are very tight, and in many situations, they have really saved my a$$, but on others, I have missed out on 100+ pt moves.

-FastTrader
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This web site would not exist if we knew we'd all be stinking rich sitting on our ideal island.
 
Quote from taodr:



This web site would not exist if we knew we'd all be stinking rich sitting on our ideal island.
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True....I don't think my stops are the problem here. It's a psych issue with ME....I always exit too early. Also, after I have a couple of losses, I'm very eager to book profits (as small as they may be) just to get my confidence back up or something. That's what happened today. In the A.M., got stopped out on one trade for a 7 pt loss....got back in later, booked 8 pt profit to get me back to break-even....took another small loss, followed by another profit to break-even. Overall, down right now due to commiss.

-FastTrader
 
Quote from Fast_Trader:

Overall, down right now due to commiss.
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do you have a systematic way of entering trades? do you have - at least in theory - a systematic way of exiting trades?
 
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