E-mini Rookie Trading Journal
- Thread starter bronks
- Start date
www.dacharts.com is a free site where nice people post stuff to help other traders. The posts above with s/r and buy/sell handles is posted by a really nice person named Rose. Good Luck
~EC
~EC
Knowing when to quit is something I need to learn. To be up by as much as 15 points at one time, and then to give it all back, is inexcusable and just plain stupid. Yesterday and today has left me kinda numb, the ways I find to undermine myself seem endless. Sheesh.
There is a bright spot out of this, that 8 EMA worked like a charm. I was able to hold on from 967 to 985, but unfortunately didn't cover 'till it dropped to 974.50. This has planted a seed in my little head going forward. Problems began when I tried to make it all back by floundering in the 980 area.
All in all, a very humbling and learning experience today.
Gonna tweak my system just a little bit to try and capitalize on the larger moves. In the process I anticipate less consistency but larger gains (hopefully). Gonna go about it real easylike... so as not to blow myself up after a week.
flat / 6 RT's
There is a bright spot out of this, that 8 EMA worked like a charm. I was able to hold on from 967 to 985, but unfortunately didn't cover 'till it dropped to 974.50. This has planted a seed in my little head going forward. Problems began when I tried to make it all back by floundering in the 980 area.
All in all, a very humbling and learning experience today.
Gonna tweak my system just a little bit to try and capitalize on the larger moves. In the process I anticipate less consistency but larger gains (hopefully). Gonna go about it real easylike... so as not to blow myself up after a week.
flat / 6 RT's
Bronks,
Someone in this or another thread mentioned a strategy that, When up greater than X dollars/points, especially if it's like 2x or 3x, if you pull back to X, quit for the day. I know it's hard to do, but, you walk away positive for the day and don't have that remorse at the EOD.
Glad the 8ema is working for you. Don't get lulled into it's use as a holy grail.
Have a great day.
Later,
Cracked
Someone in this or another thread mentioned a strategy that, When up greater than X dollars/points, especially if it's like 2x or 3x, if you pull back to X, quit for the day. I know it's hard to do, but, you walk away positive for the day and don't have that remorse at the EOD.
Glad the 8ema is working for you. Don't get lulled into it's use as a holy grail.
Have a great day.
Later,
Cracked
Well, you guys that just got out too early: at least you still ended up a little positive.
I made 6 trade and proceeded to lose about $900 in the process. Because the market traded in a tight range the whole day. My method is I would buy when the last high is taken out or sell when the last low is taken out. That would have worked beautifully yesterday, but not today. Today, everytime I had an order filled, after 2 points being in my favor, the market would reverse and go the other direction. It happened on the buy and sell side.
I know, I know, the stops could have saved me, but I learned that setting too tight a stop would cost me a good trend trade. I set my stops just 4 ticks (1 ES pt) above the last high and 4 ticks below the last low.
One trade that cost me a lot of money was around 12noon est today when the market took out the morning's high of 933.75, my order was filled. I just happened to be away from the computer for 15 minutes. When I got back, the market went down and was already in the 924 area. I didn't even have time to put on a stop loss/profit order.
The market moves always happen when I happen to be away from the computer , which is not very often.
SO be happy with the profits you get.
My lesson: Never be away from the computer when there's a pending order.
I made 6 trade and proceeded to lose about $900 in the process. Because the market traded in a tight range the whole day. My method is I would buy when the last high is taken out or sell when the last low is taken out. That would have worked beautifully yesterday, but not today. Today, everytime I had an order filled, after 2 points being in my favor, the market would reverse and go the other direction. It happened on the buy and sell side.
I know, I know, the stops could have saved me, but I learned that setting too tight a stop would cost me a good trend trade. I set my stops just 4 ticks (1 ES pt) above the last high and 4 ticks below the last low.
One trade that cost me a lot of money was around 12noon est today when the market took out the morning's high of 933.75, my order was filled. I just happened to be away from the computer for 15 minutes. When I got back, the market went down and was already in the 924 area. I didn't even have time to put on a stop loss/profit order.
The market moves always happen when I happen to be away from the computer , which is not very often.
SO be happy with the profits you get.
My lesson: Never be away from the computer when there's a pending order.
Originally posted by wavetrader
One trade that cost me a lot of money was around 12noon est today when the market took out the morning's high of 933.75, my order was filled. I just happened to be away from the computer for 15 minutes. When I got back, the market went down and was already in the 924 area. I didn't even have time to put on a stop loss/profit order.
The market moves always happen when I happen to be away from the computer , which is not very often.
SO be happy with the profits you get.
My lesson: Never be away from the computer when there's a pending order.
Hey Wavetrader, I'm just trying to help here so don't take this the wrong way if you already know, but did you realize there was an economic report due out at 12:00? Take a look at an economic report calendar and be aware of the times that the reports are released.
Woody,
Thanks for the info. No I didn't know there was an economic report coming out.
WHere can I get these calendars?
Thanks for the info. No I didn't know there was an economic report coming out.
WHere can I get these calendars?