ES Journal - 2012

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Hi folks, figured I'd make my first post in the right place...ESJ!

New to trading and am breakeven after a few months. Hope you don't mind my hanging around to participate and learn.

All the best,

Lespaulr0cker.
 
So I followed one of my best days ever yesterday, with hitting my stop loss limit for the day today. NICE JOB. I totally fell off the rails today. I caught some great stuff this morning, and then start trying to play superman and eroded away at what I had made. Then I did something totally uncharacteristic and placed a trade, set a stop, and walked away. That's what really started the ball rolling.

After that I had 3 separate trades where my targets were either touched, or one tick away from being touched. Instead of taking the trade off as momentum faded, I stubbornly let all of those trades go all the way back to break evens. I also had a fat finger mistake, and got in the wrong direction, and HELD THE TRADE INSTEAD OF CLOSING IT. I finally tried to catch a falling knife at 12.50's to put myself out of my own misery.

ON TO TOMORROW :p The good news is that my limit is a very small percent of the account size, so all it really did was erase yesterday. That still hurts after feeling like a MASTER yesterday.
 
Quote from bigsnack:

So I followed one of my best days ever yesterday, with hitting my stop loss limit for the day today. NICE JOB. I totally fell off the rails today. I caught some great stuff this morning, and then start trying to play superman and eroded away at what I had made. Then I did something totally uncharacteristic and placed a trade, set a stop, and walked away. That's what really started the ball rolling.

After that I had 3 separate trades where my targets were either touched, or one tick away from being touched. Instead of taking the trade off as momentum faded, I stubbornly let all of those trades go all the way back to break evens. I also had a fat finger mistake, and got in the wrong direction, and HELD THE TRADE INSTEAD OF CLOSING IT. I finally tried to catch a falling knife at 12.50's to put myself out of my own misery.

ON TO TOMORROW :p The good news is that my limit is a very small percent of the account size, so all it really did was erase yesterday. That still hurts after feeling like a MASTER yesterday.
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Days like this happen to best of us. In your case specifically, I am sure that frequency of these days has reduced substantially over the last 2 years. Just keep working on your plan, and over time, these little errors won't happen.
 
Quote from gmst:

Days like this happen to best of us. In your case specifically, I am sure that frequency of these days has reduced substantially over the last 2 years. Just keep working on your plan, and over time, these little errors won't happen.
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Thanks man. Last one was about 4+weeks ago, so I guess it could be worse. Still it's so easy to fly off the handle if you aren't careful! Without the circuit breaker I could have made it worse for sure. The funny thing is that I went long at 13.25's just before the close. I felt good about the trade, and felt that the market "looked" right. However, I was only two ticks away from my loss limit, and it touched -2 and closed the trade and locked me out :p.... Such a bitter bitter pill to swallow! Max loss is 250.00 per day, so certainly not the end of the world.
 
sticking to my NQ longs..for 60's could

get out here even's but f^kit. :mad:

i think tomorrow i get a wee bit more aggressive thats my style

i'm a scalper at heart, just need to accept that

dont have the patience to sit by for hours swining it intraday..

i'm an action junky , might as well face it
 
Quote from chaykapwr:

1329 is SERIOUS resistance. The 18-25 was decent resistance and we got a couple of good reactions of it.

I would like to see us move up to 29 and then drop hard. If we breaks 40, the we will hit 56.


However, in the medium term i have turned bullish on the S&P and my target is 1500 minimum (1525 to be exact)
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I call that another homerun, called the top to the tick
 
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