ES and CL Intraday strategies

Target hit. Positive for the day. Reason for this trade indicator that I use and will not discuss plus Golden Cross.

However, ES kept running. Both times on CL and ES I lowered my target after getting into the trade, so made less profit that I should.

This will be the goal for Monday to leave my targets alone since if I am right, they will be hit.

Quote from oraclewizard77:

I have lowered target and raised stop. See what happens.
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Total of 3 trades for the day. 2 winners and 1 loser. Much better than yesterday when I did not follow setups.

Monday, I think I will just do a summary and not call out live trades like I just did.
 
As noted the goal of this journal is to make me more disciplined which includes not over trading or revenge trading plus to achieve positive $ results on futures. Also, goal is to get me to only trade real setups and have patience to wait for them.

Once this hopefully occurs, I plan to end the journal.
 
how has been your historic trading performance, if you want to disclose ? Have you been successful historically - for what periods, trading what ? Trying to understand where you are coming from. Seems you have a worked out methodology with you . Best luck
 
I had a breakout system that on Forex that worked for a year then stopped working.

Some of the new setups are from traders that I respect.

I feel the problem I am having is not the setups but more over trading and/or revenge trading. For Forex, I would set the stops and targets and let the trade work overnight.

For day trading, I sometimes move the stops and targets and when I get stopped out, I get angry, and revenge trade plus don't wait for a valid setup.

My goal is to trade less, and not move the stops and targets. Easier said then done.

Quote from gmst:

how has been your historic trading performance, if you want to disclose ? Have you been successful historically - for what periods, trading what ? Trying to understand where you are coming from. Seems you have a worked out methodology with you . Best luck
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Ok, for now all trades are 1 contract trades.

1st day loss was $ 800 over traded and did not follow setups.
2nd day profit was $ 75 traded setups correctly but manually reduced targets. If I did not move targets, I would have made $ 200.00

Recently, I have had big losing days due to over trading. Once I take a loss early in the day, I don't want to have a losing day, so I keep trading thinking I can get back to profitable.

Whereas if I have a profit, I have been stopping for the day.

So my losing day's total loss has been double or more than my winning days with real money.

Therefore I think I need to trade the same number times for both losing and winning days to avoid this issue.

Goal for now is to make $ 200 - $ 400 on winning days, and not lose more than $ 400 on losing days.

As for charts, I really don't want to show my setups, I don't feel this is where my problem area is located.

Quote from HTmarket:

Its going hard to follow if you don't post charts, transaction prices, and P&L.
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Quote from oraclewizard77:

Ok, for now all trades are 1 contract trades.

1st day loss was $ 800 over traded and did not follow setups.
2nd day profit was $ 75 traded setups correctly but manually reduced targets. If I did not move targets, I would have made $ 200.00

Recently, I have had big losing days due to over trading. Once I take a loss early in the day, I don't want to have a losing day, so I keep trading thinking I can get back to profitable.

Whereas if I have a profit, I have been stopping for the day.

So my losing day's total loss has been double or more than my winning days with real money.

Therefore I think I need to trade the same number times for both losing and winning days to avoid this issue.

Goal for now is to make $ 200 - $ 400 on winning days, and not lose more than $ 400 on losing days.

As for charts, I really don't want to show my setups, I don't feel this is where my problem area is located.
More...

Over trading is often a result of bad entry points on original trades. Focus on your entries, be patient, wait for your set ups. If they don't come, don't trade. I have no idea what set ups you have so I can't help you there. But my advice is run trades through the Ninja sim first (it's free) until you are somewhat consistent. But it won't work if you trade the sim differently. Trade it like every dime counts.
 
Yes, I agree, if I don't see a setup, I need to set price alerts to wait for key price areas instead of pushing a trade.

Quote from marceck:

Over trading is often a result of bad entry points on original trades. Focus on your entries, be patient, wait for your set ups. If they don't come, don't trade. I have no idea what set ups you have so I can't help you there. But my advice is run trades through the Ninja sim first (it's free) until you are somewhat consistent. But it won't work if you trade the sim differently. Trade it like every dime counts.
More...
 
Quote from oraclewizard77:

Yes, I agree, if I don't see a setup, I need to set price alerts to wait for key price areas instead of pushing a trade.
More...

Don't fight the trend after the first hour of the pit session.
 
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