ES Journal - 2012

[creekboy]

10 points is a great start -well done

 

[Ramp]

Quote from FreakofNature:

This holds true for a regular trading hours but a stop hunt in afterhours could hurt me without actually failing in SPX.

Gotcha, thanks. Your position, at least for your first target, will be looking good if we can get over 1370.

Cheers

 

[ammo]

spy having trouble with that neckline

 

[ammo]

reduced ..edit ...yellow line

 

[ammo]

Quote from ammo:

sh 57..56..58.25..59

out 52.75

 

[mastacoli71]

Quote from mastacoli71:

short 57.5, bidding 52

flat 53

 

[Laissez Faire]

Another day, another gap fill.

Who would have known?

 

[Laissez Faire]

Quote from DanS:

How many times have we seen this? I took a 10 point profit from a long below and thought I should stay in. Left another 9 on the table.

Wrong mindset.

Is the glass half full or half empty?

If you beat yourself up both when winning and losing, your mental stamina will suffer.

Great job! Give yourself a pat on the shoulder!

 

[Laissez Faire]

Quote from FreakofNature:

That's what gives traders learning the ropes hope, the fact that it sometimes work and when you do the backtest it looks doable.

In my case, the results can be so random with technical analysis the only way I can make it work is by trying signals that offer reward that is way higher than the risk.

To obtain great reward you need time and patience, which I why I became a swing trader.

I both agree and disagree.

A trader needs to anticipate several scenarios in advance and that include scenarios where patterns fail. Failure of patterns can be profitable as well, as long as one is prepared and knows how to trade it.

ES is however a very tough instrument to day trade and generally do not give good enough R/R on average unless one really knows what one is doing. A few losses for the day and you`re already deep in the hole and have not exit route. At best, you can expect to break even.

Compare that with an instrument such as crude oil, where you can get stopped out 5 times in a row with a tight stop and capture 50-100 ticks on your next trade.

It`s all a matter of risk/reward. No doubt about that.

 

[ammo]

sh 54, LF,wait til you put n a 95 40 stop and the next 2 prints are 95 .60 94.60 and your stop doesn't trigger because it didn't print there,she's a harsh mistress