ES Journal - 2014

Handle123 said:
Long term, I am still short ES from ave price of 1910, and I have hedged with call options. Might get stopped out next week and calls hopefully bail out the trade.
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My preferred method for shorting ES during uptrends, assuming I have a solid reason, is to write call options only as it's making higher highs.
 
iloveoptions said:
He's got no choice now :p
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Drownpruf/Atticus,
Keeps getting better and better.
I remember his Google call, about how the stock wont hit 1000 for years, and boom next earnings report does it.

Now, the SP500 1920 call, and May closes above his number.
Short with impunity he said!

Funny thing is he follows people around looking for bad calls to humiliate them, because he's got the type A personality (ahole), wonder if he will humuliate himself. Maybe he can log into Atticus to make fun of Drownpruf bad call! lol
 
Handle123 said:
I lease a seat, so I don't pay retail.​

{ rest edited .... }

Good weekend all.
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Handle: if you lease a seat, does CME consider you a professional for their data subscription policy, or are you still considered a non-pro if you trade your own account? Just curious.
 
Handle123 said:
My weekly losing percentages are almost always under 8% in any market I trade, one tick trades are always 50% or higher, but they are winners for me as I average down on all trades, winning trades of 2-8 ticks is generally 45%. I lease a seat, so I don't pay retail. It is the same game each day, I actually don't use stops, but everyone wants ideas of what kind of stop loss I use. I generally risk approx. $100 in anything, Financials, Currencies, Metals, Crude oil, use same "system" in any market and pretty much any timeframe(higher timeframe must risk more) as it is robust. Really takes years to get good though, must be able to identify price patterns very quick like breathing, I have zero patience dealing with time in mornings, higher ranges and late afternoons, lunch time I add 50% to time but if volume or price pattern changes negatively, am looking to get out, capital preservation is #1. Unlike NoDoji buying new highs, I am most of the time complete opposite, but that just goes to show you if you keep doing the same backtested rules, you can do well. 95% of my targets are $100 for ES/NQ, $50 YM, $300 Russell, $100-200 Crude Oil and $100 in Gold. My way is not to hit homeruns, just a happy consistent way of playing Pacman, err trading markets, but same logic, play the game till it gets so fricking boring. And when I do have losing days cause I average down, they are very huge especially if I have three losing trades in a day, don't happen often, but they happen each year.

I have built methods that are breakouts and they perform well, but any time one uses breakouts, you have to risk more than $100, and what I learned long ago, if the breakout bar is too big, best to skip that trade as what happens price breaks out 1-2 ticks and retrace enough for uneducated trader to take the loss. And where they are getting out, I am taking a retrace trade taking other side of trade. Just look for areas where small trader is going to get screwed and enter there for sure winners. Go out and get any general book on trading dealing with indicators, and the writer never goes far enough how to use them, you have to think outside the bun and mix indicators with price action. “Taylor Trading Technique”, which Linda Raschke trades mixed in with indicators makes for nice method. “Taylor Trading Technique”, is a tough read like John Hills manuals from late 1970s, but so much info on trading before the home computer.

Many simple give trades too long when day trading, they get married to their trades and of course they don't have a completed trading plan.

Good weekend all.
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Thanks for your detailed reply. You lease a seat! Definitely out of my league!

I take 8-10 trades per day sometimes more. trgt 2-8 handles each trade. My stops are never a set amount, let the chart tell me where to place them. Set SL's like "8 ticks" on every trade never made any sense to me. Why should every trade be 8 ticks when 11 or 14 be better depending on past price history?
 
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