ES Journal - 2012

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Quote from gmst:

Actually, I was telling everyone here that I am losing money on ES but I doubt if actually anyone faded me. Would have been good for them these past few months :)

Well I really have tough time answering your question as to why not trade FX only, but I will give you an honest answer. Lets see if you find it believable.

1. I realized in Oct/Nov 2011 that I am consistently losing money on ES. At that point there was no economic reason to continue trading ES and keep losing money on it. I actually decided many times that I won't trade ES but could never stop myself. Lure of the Siren call - you know. So, yes there was no economic reason to do it.

2. Finally, I *think* I know the real answer. Basically, my mind or my heart or my blood (however way you want to say it) didn't want to accept that I am a loser. Basically, it is my competitive spirit. In my subconscious mind, I felt that losing real cash while trying to trade ES is much better than making real cash by trading only FX and not trading ES. Yes, this is economic stupidity, but this also proves that market participants are not economic rational.

Agreed that ES is very tough to trade. I know it very well :) Currently, I take maximum of 3 trades in a day on ES. On 90% of days, it is like only 1 trade in a day. Anything more than 1 or 2 trades and I see that I am trying to trade randomness wherein I invariably lose. Thats about it.
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That is some excellent self-awareness there, and something most of us traders never seem to understand.

Kudos to you on your new attitude...

:)
 
Quote from ammo:

chay why dont you go and count the number of negative posts from you and others in this volente journal, and then you can come back here with the info,magna and hurricane , and explain how this is a contribution and makes ET elite ,i'm here to trade,i've learned a lot from vol and others in this journal and know how averaging ,reasons during averaging change,and wish to keep the crap out, it just feeds on itself
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Pricks will always envy the excellence that they fail at reaching.
There is a reason this board is dead and overrun with morons.
People often ask why did the good ones stop posting here?
Because they realized that 95% of the posters on this board are the very ones that donate to their account and offer nothing of value except the money that they lost.
 
Those who have been around for a while appreciate vol. and his contribution to ES J. He knows his craft period. His posts on ET are well worth looking at. Unfortunately, some like to stick their noses in other people's business and this is how ET has become sort of like a community college. A lot of assholes dreaming of becoming doctors taking remedial classses presented by moderators, I mean professors who think they know. :D
 
Quote from volente_00:

Pricks will always envy the excellence that they fail at reaching.
There is a reason this board is dead and overrun with morons.
People often ask why did the good ones stop posting here?
Because they realized that 95% of the posters on this board are the very ones that donate to their account and offer nothing of value except the money that they lost.
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I just want to make a comment before I respond to the rest of your remarks here. I never made a personal attack on Vol, at WORST you can say I "attacked" his trading style. If you look through the history, you will see at first i ASKED him about his style, he ignored the questions (which he has ever right to), so I did the research myself and presented the findings. I never called Vol a "prick" or anything close to that. Point 1.


If your definition of "excellence" is averaging in a trade when it is 20 points against you, because you cannot admit defeat, then I dont want to be "excellent". Ive called tops and bottoms to the TICK. Have I been stopped? Yes. But have my calls won a lot more than those loses? many many times more. I am not sure about you, but thats my definition of "excellent' Point 2.

If anything, you donated a lot of money on the huge up day on Tuesday, realized or not. Point 3.

You say your win rate is 80%? Yes, because you NEVER take a loss. And those losses you take 20 % of the time, on full size must wipe out the wins on small size you make 80% of the time. Point 4 and Point 5.

Ammo said he learned a lot about averaging from you, I wish he would explain that. If you have to be taught about averaging, then you dont belong in this game.
 
Quote from chaykapwr:

I just want to make a comment before I respond to the rest of your remarks here. I never made a personal attack on Vol, at WORST you can say I "attacked" his trading style. If you look through the history, you will see at first i ASKED him about his style, he ignored the questions (which he has ever right to), so I did the research myself and presented the findings. I never called Vol a "prick" or anything close to that. Point 1.


If your definition of "excellence" is averaging in a trade when it is 20 points against you, because you cannot admit defeat, then I dont want to be "excellent". Ive called tops and bottoms to the TICK. Have I been stopped? Yes. But have my calls won a lot more than those loses? many many times more. I am not sure about you, but thats my definition of "excellent' Point 2.

If anything, you donated a lot of money on the huge up day on Tuesday, realized or not. Point 3.

You say your win rate is 80%? Yes, because you NEVER take a loss. And those losses you take 20 % of the time, on full size must wipe out the wins on small size you make 80% of the time. Point 4 and Point 5.

Ammo said he learned a lot about averaging from you, I wish he would explain that. If you have to be taught about averaging, then you dont belong in this game.
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Now you are mixing apples with oranges,Chay, along with a pious attitude.

Ammo was not taught by Volente. It may have been a couple of pointers re allocation.

Ammo's trading technique has been very consistent for a long time.He has qualified his theory to his strategy.I am told it is very solid and he might get hit once or twice in a 12 month period,but he is consistent. From what I am told his money management is set,and as with Volente, you need to look beyond just the trading style and understand that they might be very well funded to trade the way they do using minimums.

I am assuming they use minimums.

Related to Volente's 20% losses;again there is no way of knowing if "full size" was used. It may have been that the technical aspect of the trade caused a reversal before " full size" could be used.

I don't understand the theory/reason for Volente's shifting stops . That is his "thing"/style.To each his own.

Your point 3:Money was not "donated"That reference seems to indicate you may not trade at all.Nothing wrong if you don't.

Refer to his posts on that day and you will see that he has since covered the larger exposures if he followed through and that would have reduced the average significantly.

Some of your "calls' were good ,Chay but trading will bring home the bacon.

I am not defending either of these guys, but trying to offer some balance. Did I fail?:D
 
Quote from Macho:

Sold 138875 another on at 139100

Stop ZB 140'27
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Covered 138475. That was the fastest yet. I would have liked to run it to 70-78,but not ready yet.
 
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