ES Journal - 2019/2020

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nickynoes said:
Cant really answer that since it depends on what setup I am trading, some times I trade 1 contract initially if I think the market might move away from my entry the wrong way and add on the way down, sometimes I trade 2 right away and at most I trade 3.

Profit targets depend on trend lines, fibb retracement and projections, PA... It's different every time. As I posted earlier I play a lot by ear and not by any set standards, since set standards come from the trader and not the market.
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be careful about the drawdowns, it has happened to me a lot, so i am trying to wean off it. it sometimes lands u in big holes. hard stop or mental stop and letting the trade go, works out best in long run in MHO.
 
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Utah said:
Looks like it could be one of those end of day rally type days, no?
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Might be as Amazon is reporting earning after hour so might be good to have at least one long contract as it will probably beat earning and move market.
 
dangkevin said:
Might be as Amazon is reporting earning after hour so might be good to have at least one long contract as it will probably beat earning and move market.
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If I were a "market maker," I'd want to drive the price down before Amazon and Google released their earnings. I'd be buying up everything all the way down so when all of the retail traders hear the Amazon & Google numbers and start flooding back in, I'd be doing pretty good.
 
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