ES Journal - 2012

trickshot · Apr 25, 2012

Quote from mastacoli71:

I admire your patience Ammo. I am trying to build the courage to hold at least one contract for these bigger moves but confidence still not there in my system.

I dont think its courage that you lack, what you lack is probably discipline. If you are daytrading 8 contracts and your profits are on average 5 points (I'm guessing) then the risk is the same as swing trading one contract for a 40 pt target. I don't think you will lose any sleep trading one contract unless you are seriously undercapitalised.

My 2 cts.

gmst · Apr 25, 2012

Quote from keeptradin':

Just an FYI: The FOMC statement is at 12:30 EST today, not the usual 2:15.

Many Thanks that was a very important piece of data I was missing

gmst · Apr 25, 2012

Quote from gmst:

for a target (before fed announcement) I am looking at around 1375-77.

If we don't start to continue down fast, I will be out of this trade and then no more trades till 230 EST or so.

so I went short at 83.75 and am now out of this trade at 83.

There was no significant downside momentum.

mastacoli71 · Apr 25, 2012

Quote from keeptradin':

Just an FYI: The FOMC statement is at 12:30 EST today, not the usual 2:15.

Man, thanks for the heads up. Completely forgot about that. Heading out for about an hour now.

keeptradin' · Apr 25, 2012

Quote from gmst:

Many Thanks that was a very important piece of data I was missing

Yes, it was a bit confusing as they will be releasing the statement at 12:30, then holding the conference at 2:15.

I keep track of this stuff with this:

http://www.forexfactory.com/

mastacoli71 · Apr 25, 2012

Watch this AAPL move. open interest on weeklies highest at the 600 call strike.

mastacoli71 · Apr 25, 2012

Quote from keeptradin':

Yes, it was a bit confusing as they will be releasing the statement at 12:30, then holding the conference at 2:15.

I keep track of this stuff with this:

http://www.forexfactory.com/

I wonder why they are so spotty with the question answer session part. I thought when they started doing it last year they would do it every meeting.

Probably to keep us guessing as always.

keeptradin' · Apr 25, 2012

Long ES @ 81.75, Target @ 84.75, Stop @ 78.75.

(EDIT: Target moved to 86.75 @ 11:05)

Waited forever to get filled at that price.

Looking like maybe sideways for awhile now.

keeptradin' · Apr 25, 2012

Quote from mastacoli71:

I wonder why they are so spotty with the question answer session part. I thought when they started doing it last year they would do it every meeting.

Probably to keep us guessing as always.

Yeah, think about how many people are gonna choke on their lunch when the statement is released and the market goes wild...:eek:

mastacoli71 · Apr 25, 2012

Quote from trickshot:

I dont think its courage that you lack, what you lack is probably discipline. If you are daytrading 8 contracts and your profits are on average 5 points (I'm guessing) then the risk is the same as swing trading one contract for a 40 pt target. I don't think you will lose any sleep trading one contract unless you are seriously undercapitalised.

My 2 cts.

Honestly have not figured out what my average profits are. I look at dollars and cents at the end of each month. Maybe that is a mistake but I don't want to analyze myself out of taking trades.

I know some may not want to hear this cause you always have to start somewhere like we all have. If you are trading with capital you need to cover living expenses with, you should not be trading.