ES Journal - 2014

Handle123 said:
I often get out too early and watch them make bigger profits if I had stayed, but here is the thing, I seldom ever lose in a day, week etc...I prefer to not risk based on time then force a trade to have more time and get losses, cause if early in day, and I get full 2.00-2.25 loss, that loss comes to huge amount since am trading 400 a price level. But I watch the time very close based on time of day and price formations, swing distances, etc...

Long ES 1965.25 and lower
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Wow Handle, that's impressive! What's your max size per position?
 
CoolHandLuke said:
you shoot for a tick or two..your not in it for a 3 or 4 or 10 handles.

thats whole other game. one that i am wholly unfamiliar with.
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You are absolutely right, my game is at best plus 8 ticks and once in grey moon 10 ticks. But in any given day I will do 30-75 trades in ES. Once I achieved my Goal of 4.00pts on original entry which can be with add-ons anywhere from 400-3600 contracts a very healthy profit to be then I cut back 80%-90% depending on day of the week and volume of previous day, I don't want to get into situation of ton of slip with too big of a position. I normally ave to get my 4.00pts and with add-ons 900 contracts, add-ons get more than 2.00pts and I don't add into my goal, if I get them they are a bonus. So most of the day unless the volume really dries up, do 80 lots during lunch and now. I don't have to go for the homerun trades cause of the size at all. One tick means a grand, so if it took me say 4 trades to get my 4.00pts and I did 30 trades rest of the day and no losses, it keeps coming in being a scalper. What most traders don't realize and think it is big numbers, it isn't too me cause ES is a very watered down version of Big S&P500 in it's hey day, but members at exchange knows younger traders loss all their money and made it where just about anyone with $2500 be allowed to trade and loss it to experienced traders. So for the equals of old S&P500, I have to trade 10 ES contracts to get same bang for the buck. Back in the 90s I was trading 25 to 40 contracts, which is what I trade now based on old point size of $500. So the biggest change I don't have to call the floor and ten times easier now to screw the inexperienced trader.

If you are consistently making money, add one contract each month, in the beginning going from a one to a two lot is the biggest stress on earth cause you doubled your size and then each month after than gets easier, in two years you doing 24 contracts and can quit that job saying "you want to Super size that"?

I know trading seems hard to many but after you get the handle on price action and knowing why it does what it does, it is the same game of Pacman each day, just gobbling up cookies.

Price takes out the low of the day, I had orders below the market to buy and get my plus 2-3 ticks. When price had not gone to an area for a good amount of time I do this trade but or market is taking out the extreme every few bars, that is a strong trend. Learn to read the DOME, there are patterns but they happen very fast, so one eye on Dome and one eye on chart. I bet Marty Feldman was trader, LOL
 
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