ES Journal - 2012

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Quote from gmst:

Great illustration of averaging working Ammo. On swing trades, I average 2-3 layers in FX and have a good win-rate with averaging. Very interesting to see you doing 7 layers of averaging. Thanks for the tutorial!

Total points 21.75, averaging by 4, total net points 5.5 points roughly. On 40 contracts is 40*5.5*50 = 11000 USD without commissions.

On the risk side, your max risk was 40k USD on this trade, so on this particular trade, your risk reward was 4:1. However I am assuming over many many these averaging kinds of trades, your risk:reward would be close to 2:1 and I reckon your overall win-rate must be >75% ?!! Just trying to figure out the maths.

Thanks again for this amazing illustration from the battleground, especially considering the near straight rally that ES put-up overnight.

Have a good sleep now!
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I guess I'd have to assume that he's making money because he hasn't changed his money management yet. However, risking 40k to make 11k isn't something I'd be interested in.
 
Quote from HurricaneUS:

I guess I'd have to assume that he's making money because he hasn't changed his money management yet. However, risking 40k to make 11k isn't something I'd be interested in.
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Remember, this is just one trade, one outcome of 1000s of trades he has done over last 20 years.

Only ammo can tell this - but wild guessing, i think his r:r won't be worse than 2:1, and if his win% > 75%, well he has a solid system then!

I won't say different folks - different ways to trade.
Rather, I would say, different situations, different ways to trade.
 
Quote from lucky lucille:

oik sorry guess i'm confused by the jargon..

i trade off seat of my pants..no formal education or instruction.
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same here just watch more stuff, when i was younger i was quicker and able to trade like you
 
Quote from ammo:

same here just watch more stuff, when i was younger i was quicker and able to trade like you
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a real and rare compliment (i think) from a very successful senior trader THANK YOU :cool:
 
Quote from HurricaneUS:

I guess I'd have to assume that he's making money because he hasn't changed his money management yet. However, risking 40k to make 11k isn't something I'd be interested in.
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40k is max loss ,worst case titanic,if we got above 04 in spx,we may have gone to 10 ,then 14-18,i would have been out,but the bet was we would meet res at the tl in es and cleavage in spx,same reasons over and over,doesn't always work but most of the time it does
 

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I had some bad timing today, missing entries while stepping away and whatnot. I pulled out a whopping 3 tick MONSTER trade, and aside from that I spectated during all the boring chop. I'd step away and then the entry would show itself.

:cool:
 
Quote from bigsnack:

I had some bad timing today, missing entries while stepping away and whatnot. I pulled out a whopping 3 tick MONSTER trade, and aside from that I spectated during all the boring chop. I'd step away and then the entry would show itself.

:cool:
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Hard day, I see. Tomorrow will be a new day. So time for Mojitos :)
 
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