ES Journal - 2012
- Thread starter Buy1Sell2
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Started with $1500 and I have been reduced to $900. And have only traded for 3 days. I don't have anymore hopes this will go back to $1500 let alone be in profit. It's funny because I did demo for 7 months and was always winning. One thing I came across is that I have to use small SL to live to trade another day. In demo I was playing a different strategy, a little more long term. Only did 1 or two trades a day making 25+ pips. I can't do this now. I am scalping making 20 trades a day... which I never did, and loosing the majority of trades. I usually put 4-12 pip SL and get stopped out everytime.
Today lost $50 which is good because the market moved much further from my sl. I had a tp of 10 pips but only went up to 8. Would have been +100 now instead of -50
Today lost $50 which is good because the market moved much further from my sl. I had a tp of 10 pips but only went up to 8. Would have been +100 now instead of -50
tug of war between inflation and deflation, its always been that way. look up Jim Rickards stuff, lots of it on the web, Idea is that countries take turns debasing the currency. What's hard to understand is that some assets are inflating while others are deflating otherwise everything is clipping bond coupons.
Quote from mm2mm:
Started with $1500 and I have been reduced to $900. And have only traded for 3 days. I don't have anymore hopes this will go back to $1500 let alone be in profit. It's funny because I did demo for 7 months and was always winning. One thing I came across is that I have to use small SL to live to trade another day. In demo I was playing a different strategy, a little more long term. Only did 1 or two trades a day making 25+ pips. I can't do this now. I am scalping making 20 trades a day... which I never did, and loosing the majority of trades. I usually put 4-12 pip SL and get stopped out everytime.
Today lost $50 which is good because the market moved much further from my sl. I had a tp of 10 pips but only went up to 8. Would have been +100 now instead of -50
Your TP SL are within the 'noise' of price action of the timeframe your trading. That's why the variance of the derivative your trading kills your account. This is why most accounts blow up.
Support resistance trendlines are all trying to identify price outliers so that the noise is fleeting in nature and positions are in profit at the immediate onset of trade placement. The patience required is a trait needed to survive. The best trades are placed at price point outliers.
I have to confess that the majority of my losses was when I decided to trade CL ( was being stupid that day) initially was $1800 and lost $800 within an hour. See it was because of that stupidity that I am in this condition right now.
Then the next day traded eurofx futures. Won and lost which at the end of the day came at -$25 + -$25 comission. -$50 today and = $900.
Then the next day traded eurofx futures. Won and lost which at the end of the day came at -$25 + -$25 comission. -$50 today and = $900.
stop trading and go back to sim,you figure out what you are doing wrong, trade it like it was real money and come back,you only have enough for a few free money trades,so sit on that acct and dont trade more than 1 trade a day or 3 a week,you won't get rich overnite but you will stay in biz and slowly build the acct,the flipside is you lose the dough and can't trade ,be patient, you probably spent half that loss on commissionsQuote from mm2mm:
Started with $1500 and I have been reduced to $900. And have only traded for 3 days. I don't have anymore hopes this will go back to $1500 let alone be in profit. It's funny because I did demo for 7 months and was always winning. One thing I came across is that I have to use small SL to live to trade another day. In demo I was playing a different strategy, a little more long term. Only did 1 or two trades a day making 25+ pips. I can't do this now. I am scalping making 20 trades a day... which I never did, and loosing the majority of trades. I usually put 4-12 pip SL and get stopped out everytime.
Today lost $50 which is good because the market moved much further from my sl. I had a tp of 10 pips but only went up to 8. Would have been +100 now instead of -50
This is what made me succeed in demo. I had patience + bigger SL and let the profits run. I have to one big trade. Either I make $500 or lose $500. But I will have to chose the right time like I did in the demo. I am not confident as I was in the demo. I'll just have to do convince myself that these money even if lost do not mean much, since it's risk money and taken into account that I might lose them. But still get that horrific anxiety.
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