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ES Journal - 2012
- Thread starter Buy1Sell2
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Adding at 43, staying long till eod, 315 cst
I didn't post the current position entry or stops because it really doesn't matter, but I'm targeting a test of at least 38.50 by eod. I post because it is more of an observation of a solid long entry with a decent 8-10 stop range and a solid target of 1350+.
This is of course a swing as opposed to time based or trend / pullback entry for a couple points.
http://chartupload.com/viewer.php?file=98237728760482165861.png
FWIW
This is of course a swing as opposed to time based or trend / pullback entry for a couple points.
http://chartupload.com/viewer.php?file=98237728760482165861.png
FWIW
Quote from gmst:
Thanks dear Josh like always. I had taken a 2-3 week break from trading and have been back just this week. Not completely with the flow yet.
Talking about the break, in my experience, its a very healthy thing to take from time to time. Just taking 2-3 weeks of break and either going for a holiday or even better immersing yourself in research, helps "me" a lot - i hope its the same for others also.
The biggest improvements I see on my trading of taking breaks are first it allows me to take a step back from daily madness of markets and gives me time to think, to analyse and to look at the bigger picture. Sometimes there are revelations, sometimes this break allows me to condition my brain into instilling some of the wisdom that I have picked up over the last few months in the market into my daily behavior.
I know above is very obtuse, but I will give an example to clarify what I have on my mind. For example, this time around, I immersed myself into some serious research on ES. I went bar by bar for ES 5min chart for last 16 months, first seeing if I can identify any patters etc. Secondly, I traded moving chart bar by bar. It took me around 2 to 3 weeks of work, working 5-8 hrs everyday. I basically ended up learning following lessons:
1. It is extremely hard to look at a bar in ES and trade based on it. Algos or just the fact that is a combination of 500 individual tickers, make a bar by bar trading approach very hard. Most of the time it is pure noise and my ability to correctly call the direction is probably something like 40% - if I go bar by bar on ES.
2. However, if I wait and restrict myself to just 1 or 2 trades per day, then I start to show some improvement in my discretionary trading ability.
3. Also, analysis of my equity curve suggests that just taking 1 trade per day or maybe 2 on some days and skipping some days will reduce my DD significantly and will help me experience much superior returns.
The final advantage of taking a break is helping the psychological aspect of overtrading. Once you haven't traded for 10 days, haven't even looked at your platform, it helps you dramatically overcome the problem of overtrading when you are back to trading. You just grow calmer.
Just my thoughts that I experienced.
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