ES Journal - 2014
- Thread starter murica
- Start date
i'm cool with that magna
censor away magna, this site is all yours
It is the nuances after awhile that makes one better. I did a backtest long ago if I just didn't take 1.5 losing trades a day, how would day go? Almost always it would turn a losing day into a winning day. So at least 1-4 times a day, I pass on signals based on Price Action screaming at me not to take it, and almost always it be either a loser, or wait a few bars and get in at much better price.
Done with everything I need to do and stopped by here to check out what's going on with the old crew. Glad to see you guys all doing well despite this crushed vol environment.
Worst reason ever to take a trade. C'mon man. Feeling is an important reason but not the most important, and certainly not the only reason. I had some losing trades today (not in the spoos because there were only two good trades today to take) so I'm not pretending to be perfect here or even good. But your short--it was not a very good one. The low of the day was about as clear cut perfect as you can get from many different ways of looking at it (location, context, news, order flow, etc), and by the time you shorted, it had already tried for a new low. New lows were just not reasonable to expect (how many days out of the last 10 have we actually gone below the prior day's low?). Even if you had shorted, you don't need 2 handles, which constitutes about 25% of the day's range these days. If it even tries to go back up where it did in your trade, cut it and look for new highs.
Worst reason ever to take a trade. C'mon man. Feeling is an important reason but not the most important, and certainly not the only reason. I had some losing trades today (not in the spoos because there were only two good trades today to take) so I'm not pretending to be perfect here or even good. But your short--it was not a very good one. The low of the day was about as clear cut perfect as you can get from many different ways of looking at it (location, context, news, order flow, etc), and by the time you shorted, it had already tried for a new low. New lows were just not reasonable to expect (how many days out of the last 10 have we actually gone below the prior day's low?). Even if you had shorted, you don't need 2 handles, which constitutes about 25% of the day's range these days. If it even tries to go back up where it did in your trade, cut it and look for new highs.
Taken out of my Bund position, small loss, 0.15%
Short June Dax now at 9925, added just now at 9900, usual apols for delay, most of my entering trades is done using stop limits and i don't generally watch the market.
Doing only small amount (risking 25 bhp), shorting a strong market like dax is risky!!! Better to short the weak indices like russell, but fully loaded there.
Short June Dax now at 9925, added just now at 9900, usual apols for delay, most of my entering trades is done using stop limits and i don't generally watch the market.
Doing only small amount (risking 25 bhp), shorting a strong market like dax is risky!!! Better to short the weak indices like russell, but fully loaded there.
