ES Journal - 2014

tiddlywinks said:
So let's see...

Day 1 -- Short @1152 (approx)
Day 1 CLOSING PRICE (approx) 1142
Day 2 -- Add Short @1142 (approx)
Day 2 - Add Short @1140 (approx)
Day 2 CLOSING PRICE (approx) 1140

So between the closing of Day 1 and closing of Day 2 your UNrealized gain increased approx 20%, but your market exposure and funds usage increased by at least 200%, assuming only 1 contract per add. 10x the UNrealized gain benefit. Additionally, the increased metrics were initiated just in time for a weekend holding period.

All in all, you took on a significant increase in market risk and tied up substantially more portfolio funds for a much less significant UNrealized gain. And you wonder why you gave back "massive" profits earlier this month?

BTW: saying you "add" to a position without the size of the add or the adjusted cost basis of the entire position is not meaningful.

I am commenting on trade/money management, not the trade itself. It is the managment that causes your give backs. Learn from it or don't.
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not sure how vis does it but if you have a max size/loss and stay within those parameters then a multi contract win loss scenario is the same as a 1 lot scalper
trading to stay in biz needs loss limits, respecting those regardless of scenarios avoids that one time that will get you,you need to ignore the times you got out and it reversed and show respect for the survival rule, for longevity
 
ammo said:
not sure how vis does it but if you have a max size/loss and stay within those parameters then a multi contract win loss scenario is the same as a 1 lot scalper
trading to stay in biz needs loss limits, respecting those regardless of scenarios avoids that one time that will get you,you need to ignore the times you got out and it reversed and show respect for the survival rule, for longevity
More...

I agree with the max size/loss principle. And certainly the longevity aspect is foremost above all else... must be able to stay for another day.

Earlier posts by Vis explained he had "massive" give backs earlier this month and he was reigning himself in by reducing size, now after the fact. Further discussion showed he had no concept of realized or unrealized gains/losses, margin requirements, or other important daily monetary metrics by trade and/or portfolio . Based on his current TF trade/money management, nothing changed imo. tic tok.
 
tiddlywinks said:
I agree with the max size/loss principle. And certainly the longevity aspect is foremost above all else... must be able to stay for another day.

Earlier posts by Vis explained he had "massive" give backs earlier this month and he was reigning himself in by reducing size, now after the fact. Further discussion showed he had no concept of realized or unrealized gains/losses, margin requirements, or other important daily monetary metrics by trade and/or portfolio . Based on his current TF trade/money management, nothing changed imo. tic tok.
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dont believe his ignorance of limits was accurate, it's possible, more likely, that he trades well below max limits and it 's never an issue, just chiming in with asssumptions
 
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