ES Journal - 2012

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Quote from gmst:

stop moved to BE+1 tic, so 1345,

will be on my toes to get out and possibly reverse, if we touch 1347.5
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out at 1346.75 for 2 points on this trade.
 
Buyers fail twice at yesterday's high... site of the NFP extravaganza (1323) next? And how about 1308 onnnne more time....? Or was the test of the post-NFP balance as the chart showed earlier (1339) sufficient to break through this level?
 
ES had a 9.25 point range today, and I scored 12.75 points before commission, and about 12.5 points after commissions. This was my best day dollar wise as well as % of day's range wise in ES. I made 621.5 USD trading 1 contract. My earlier best was 615 USD in one day trading 1 contract. and even though I didn't measure it, I am sure I never scored more than 50% of day's range before today.

Today - 4 round-trip trades, all positive, 6.75 points, 0.25 points, 3.75 points and 2 points.

I have been a consistent loser since I started regularly trading ES which was from Sep-Oct 2011. I was doing way too many trades and was reversing positions every now and then. Also, I wasn't choosy at all about my entry points. Today's day has been a good confidence booster.

Today might be a fluke, but 2 things have changed about my ES trading:- 1) I have gained experience with the way ES trades and 2) I have become very choosy in my trades. Going forward I will be looking at a minimum of 1.5:1 R:R on my trades and frequently will be looking for a R:R of 3:1 or even upto 6:1 or more.

P.S. I have been on sim for last month for ES, so all my trades today were on sim. This revelation - I am sure will bring on some chuckles from the fellow readers. :)
 
Quote from JoshDance:

Buyers fail twice at yesterday's high... site of the NFP extravaganza (1323) next? And how about 1308 onnnne more time....? Or was the test of the post-NFP balance as the chart showed earlier (1339) sufficient to break through this level?
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My guess is that we continue to grind s-l-o-w-l-y higher, more-or-less in straight-line fashion, through the May Facebook IPO. Seriously. There is precedent for such a grind if you go back to the nineties.

After May, all bets are off.

But what do I know?
 
Quote from gmst:

ES had a 9.25 point range today, and I scored 12.75 points before commission, and about 12.5 points after commissions. This was my best day dollar wise as well as % of day's range wise in ES. I made 621.5 USD trading 1 contract. My earlier best was 615 USD in one day trading 1 contract. and even though I didn't measure it, I am sure I never scored more than 50% of day's range before today.

Today - 4 round-trip trades, all positive, 6.75 points, 0.25 points, 3.75 points and 2 points.

I have been a consistent loser since I started regularly trading ES which was from Sep-Oct 2011. I was doing way too many trades and was reversing positions every now and then. Also, I wasn't choosy at all about my entry points. Today's day has been a good confidence booster.

Today might be a fluke, but 2 things have changed about my ES trading:- 1) I have gained experience with the way ES trades and 2) I have become very choosy in my trades. Going forward I will be looking at a minimum of 1.5:1 R:R on my trades and frequently will be looking for a R:R of 3:1 or even upto 6:1 or more.

P.S. I have been on sim for last month for ES, so all my trades today were on sim. This revelation - I am sure will bring on some chuckles from the fellow readers. :)
More...


No chuckles. Great work. Now it's time to do it for real. Then you'll know.
 
Quote from ammo:

add 47 to a 44 short
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I've never seen anything like you, you are the only true permabear I've ever seen.

Trend down, up or sideways, you don't care, you are a shorting machine.

Joe
 
Quote from anglagard:

I've never seen anything like you, you are the only true permabear I've ever seen.

Trend down, up or sideways, you don't care, you are a shorting machine.

Joe
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He's thoughtful about it, though.
 
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