ES Journal - 2012

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Quote from Builder17:

agreed on that.
just thought with the negativity around here (not directed at you) lately i'd try to be positive :] there were some good posts this week as well tho.
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lol, I understand, and admire your spirit :)
 
I am yet to master my psychology as far as trading ES is concerned. Also, have to master a few setups. So, henceforth I am going to trade ES only sim till:

1. I make money on at least 15 days out of 22 trading days in a month AND,
2. I make money consecutively for 3 months in a row.

While in this sim period, I will take < 6 trades per day. My main focus would be to develop some systematic strategies - define some setups and trade only them.

So, all my trades from next week on this journal will be sim trades.

Have a nice weekend everyone!
 
Quote from bigsnack:

Heading for 1280 methinks.
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If so I will eat my figurative hat!

(edit: assumed you meant today only of course, hat not on the menu after 4:15!)
 
Quote from gmst:

I am yet to master my psychology as far as trading ES is concerned. Also, have to master a few setups. So, henceforth I am going to trade ES only sim till:

1. I make money on at least 15 days out of 22 trading days in a month AND,
2. I make money consecutively for 3 months in a row.

While in this sim period, I will take < 6 trades per day. My main focus would be to develop some systematic strategies - define some setups and trade only them.

So, all my trades from next week on this journal will be sim trades.

Have a nice weekend everyone!
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Couple modifications before I can start trading ES live again:
1. I must make money on at least 18 days out of 22 days in a month for 2 consecutive months AND
2. I must make money consecutively for 3 months in a row.
 
Quote from gmst:

Couple modifications before I can start trading ES live again:
1. I must make money on at least 18 days out of 22 days in a month for 2 consecutive months AND
2. I must make money consecutively for 3 months in a row.
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18 out of 22 ,pretty steep,how bout 7 out of ten,and losers will be smaller than gainers,and the shrink part be unconsious or don't have a conscience,so less or no thinking from the inside out, reacting to the whats in front of you
 
Quote from gmst:

Couple modifications before I can start trading ES live again:
1. I must make money on at least 18 days out of 22 days in a month for 2 consecutive months AND
2. I must make money consecutively for 3 months in a row.
More...

How about, you trade a $5K sim account with 1 contract until you double it to $10K? No resetting, no cheating, only 1 contract per trade. If you get down to $2K, keep going. Don't blow the account on purpose. Once you blow it for real, then you get to start over at $5K again. What do you think?
 
Quote from ammo:

18 out of 22 ,pretty steep,how bout 7 out of ten,and losers will be smaller than gainers
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I have a feeling that I might be able to achieve it, looking at 1/2 point win for 2/3 point loss. So inverted risk:reward ratio.

If after 3-4 months of sim, it turns out to be pretty steep to achieve, I will reduce it. For now, Planning to take that 1 trade per day or maybe 2 trades in a day that I am really confident about. And even if I get 1-1.5 points per trade, will be a good start. Basically, aim is to become more consistent.

The post you made in my journal has been really insightful. Many Thanks for that!
 
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