E-mini Rookie Trading Journal

Sean--

I agree with what you're saying. However, scalping is the direction my trading is taking on by itself. Every time I apply a different technique I get burned... so I'm kinda letting it run in it's own course and let "it" evolve and mature without too much interference. I'm done trying to piss up-wind.

The only thing I track is my bottom line. It tells me all I need to know. I have a phobia of mathematics and anything resembling it. Positive expectancy brings back harsh memories of ex-girlfriends trying to pee on a stick. Double blue: YOU LOOSE!

The only written trading plan I have is DON'T BLOW UP!! On my wall. Seriously, maybe I'm naive but I can't imagine having trading plan where I have to follow a bunch of rules telling when and when not to take a position. Or this or that. The very liquid nature of the market in itself make any hard rules seem asphyxiating to me.

Anyway, have a good trading day tomorrow.
 
I don't think your ratio is necessarily bad if it is consistent and works for you. You are paying just over 50% commissions. I think that's probably what some prop guys average. Your hold time looks to be about 30 seconds to 2 minutes most of the time (pretty much scalping). If you fine tune your entries and exits a bit over time to increase your risk/reward your commission ratio should drop some. If you have a method that works and is scalable, keep at it. That $530 would be $10,600 if you do the same thing with 20 contracts.

-JPB
 
Originally posted by bronks
Here's what is pickling my brain for the moment. Since I started this little venture I'm net positive for 54.5 points with only $530.40 to show for it. I know I should be happy with the results, and don't get me wrong, I am; but if I ever want to make a living at this I'll have to modify something at some point. Soon.

+5 points / 5 RT's
More...

hey, your results compared with your account size is quite pretty. if your results are consistent by now, you just have to increase your position size...

happy trading
 
JPB, hardcash--

Thanks for the advice. Increased default contract size to 3 today. I'd like to scale in and out but not too comfortable with that yet. Couldn't help but reactivate the P/L display and boy does it move with only 3. Can't imagine the swings when holding over 10 cars, nevermind 100+. Whew!

The last coupla days in the NQ reminds me of stuttering John. It really wants to say something but you have to wait for him to spit it out, with all the fits and cranks in-between.

I'm changing my format. Instead of points, it'll be P/L net after commissions. After all, that is what it really is about isn't it. Also I won't be postings statements on a daily basis, Friday's only, unless someone objects.


+ $158.40 net / 13 RT's
 
Bronks,

The feedback I got from my thread was that charts with entries and exits are the best way to convey trading style.

I have yet to find software that will easily plot trades for this purpose. Any ideas?
 
Bronks,

It's been a pleasure watching your evolution. Keep up the great work, and good trading to you.... :)
 
Hi Boyd--
No, I don't know of any programs that do that. Looks like you're having great success trading the ES. Killer, hope some of that rubs off on me <G>.

Magna-- thank you.
 
Very humbling for me today. After being up $300.00 + (net), I gave it all away plus some near the end of the day. Rats.

Here's how it happened:
Somewhere between the last half hour I had a feeling the market was gonna sell-off hard into the close so I waited for a coupla tests of the 970-968 (NQ) area. Let the first 2 waves pass then pounced on the 3rd push. Which was okay 'cause I took my signal but I missed timed it and the market climbed on me for a quick 4 point loss, that was the mistake. Stabbed at it again (quickly re-entering is part of my strategy I use) for another quick multi-point loss. I don't know why, after managing my losing trades efficiently throughout the day, I get a brainfart and let those losers get away from me a bit. I think maybe it was because I was so convinced that the market would tank. Of course it did AFTER I took those losses <G>. I was able to get in on the slide at the end, but I wasn't able to use all three contracts because of the time of day. Otherwise I would have ended the day up some. I hate these harsh market lessons, there is no mercy involved.

Carrying a contract short overnight from 962 with a wide stop. I expect a sell-off later when the European market opens. But who really knows. I love the game.


-$225.00 net / 37 RT's
 
This overnight position is starting to give me indigestion. I wish it (NQ) would s**t or get off the pot. Being as this is only my second overnighter, I don't know exactly what to expect. What's really bothering is I don't have the same amount of confidence in this trade as I did with my prior overnighter. Still holding however.

Even though my trading in 1-3 contracts is small potato(e)s to many of you, it still manages to knot up my noodle. Got The Crystal Method c.d. cued up and my tweak'in shoes on... if nothing else, at least the apt. will be clean :D
 
hey bronks jsut curious what kind of size account are you trading with? i thought you were somewhere around 5k or so, i could be worng, if so sorry, but are you comfortable trading 3 contracts with that type of size act. ?
 
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