But last Friday went straight down with virtually no uptick.
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ES day trading journal - my final attempt
- Thread starter hurricane_sh
- Start date
But last Friday went straight down with virtually no uptick.
¯\_(ツ)_/¯But last Friday went straight down with virtually no uptick.
Guessing he kept betting on the bottom that didn't come until Monday morning.
SPX ranged about 40 points 9/9/2016...he lost about 200. Probably kept averaging down while praying for a bottom. Hopefully now he sticks to his self-mandated limit of 1 contract at a time.
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Starting account value: $13,168
Ending account value: $13,112
P&L: -56
17 trades, 13 winning, 4 losing.
This is a very ugly day, I shouldn't trade at all. I didn't feel this bad even on a big loss day. Maybe because I wanted to switch to trend following, I force bad trades and miss good trades. I have to admit trend following is NOT for me, when I see a trend, it's already too high or too low for me to enter with confidence.
I seem to think clearly now. I will still trade reversals and ranges along with trend following, the methods are not wrong, it was me, I was wrong not to use stop orders.
I need to be firm on my stop loss. My second trade was -254, gosh, I kept changing the stop price until it almost hit my daily max loss. I was ready to stop trading if the next trade was a loss. I feel secure with the $300 max loss rule, this is the most important rule I must abide by.
Next Monday will be a pleasant day, whether it's winning or losing.
Wish everyone a great weekend!
Ending account value: $13,112
P&L: -56
17 trades, 13 winning, 4 losing.
- 8.5
- -254
- 96
- 71
- -141.5
- 96
- 58.5
- 8.5
- 8.5
- 21
- 21
- -79
- 33.5
- 46
- 8.5
- -66.5
- 8.5
This is a very ugly day, I shouldn't trade at all. I didn't feel this bad even on a big loss day. Maybe because I wanted to switch to trend following, I force bad trades and miss good trades. I have to admit trend following is NOT for me, when I see a trend, it's already too high or too low for me to enter with confidence.
I seem to think clearly now. I will still trade reversals and ranges along with trend following, the methods are not wrong, it was me, I was wrong not to use stop orders.
I need to be firm on my stop loss. My second trade was -254, gosh, I kept changing the stop price until it almost hit my daily max loss. I was ready to stop trading if the next trade was a loss. I feel secure with the $300 max loss rule, this is the most important rule I must abide by.
Next Monday will be a pleasant day, whether it's winning or losing.
Wish everyone a great weekend!
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Hurricane,
I think you need to first gather data and develop an edge. I spent 3 years developing my system and I follow it to the letter. Trading willy nilly in my opinion is not for you. I think you need a few simple rules and to maybe think about another time frame. You could trade daily bars with ES and fade monthly high/lows or something. It's one thing to really want something but it's another thing to actually get out there and to make it happen.
I think you need to first gather data and develop an edge. I spent 3 years developing my system and I follow it to the letter. Trading willy nilly in my opinion is not for you. I think you need a few simple rules and to maybe think about another time frame. You could trade daily bars with ES and fade monthly high/lows or something. It's one thing to really want something but it's another thing to actually get out there and to make it happen.
LF... come on dude. Really?
The guy is just working through something that really f*cked with him.
I mean your opinion on what he should do may be valid..... but geez... use a little more polish.
Harsh, perhaps, but consider it tough love and a wake-up call. This guy shouldn't be encouraged.
You know that the OP won't turn around this and become successful on this final attempt and I also think that deep inside the OP knows it to be true himself. He knows this thread will be a failure.
I'm not saying he will never be a successful trader, although the odds are low for any given player entering the market, BUT, it is clear to me that he's not ready to trade live as of NOW. He even admitted to be trading only on feelings. Come on...
Thus, the solution is simple:
Stop trading. Stop losing money. Stop hurting. Stop traumatizing yourself.
Admit that you don't yet know enough to be consistently profitable.
Now, from here, make a decision to really learn the markets and craft a reliable methodology. Put in the 10.000 hours.
Then, only then, start to trade and get rich. But first, you have to put in the work and the hours. There's no way around it.
The OP seems to have a nice chunk of money left. This money is actually worth something. Maybe use it for something meaningful? Maybe buy some data? Develop a proprietary system of some sort?
Hurricane,
...you need to first gather data and develop an edge.
... Trading willy nilly in my opinion is not for you.
... It's one thing to really want something but it's another thing to actually get out there and to make it happen.
I wonder if Hurricane is just thinking in a certain way and dismissing any comment that does not fit it.
Going demo, taking a break from trading, taking a stepback from trading, etc. Most posts are suggesting to take a step back, or go demo. But I am not sure he is ready to change his mind. Just a waste : if this does not work, he might believe he should quit, when may be he could have taken 3 years getting ready and then giving it a fair go.
Those 1 tick profit trades; are those scratched trades or are you actually taking profit at 1 tick?
- Some of those trades almost had my stop loss triggered, I will get out when I can.
- Some are 5~6 ticks winning trades, I changed the stop loss to one tick from my entry price so that it won't become a losing trade, it feels bad to see the stop loss triggered.
- Some I no longer see the potential after a while.
I changed the stop loss to one tick from my entry price so that it won't become a losing trade, it feels bad to see the stop loss triggered.
I understand the psychology of moving a stop loss to one tick from entry to lock in a profit. But success isn't determined by one trade. You have to be able to get over it. Better yet, not even think about it. In reality, the stop-loss should be based on your assessment independent of entry. You have to be completely objective in your trading which appears to be your #1 hurdle.