ES Journal - 2019/2020

[syswizard]

This might assist some day traders that haven't yet found their nitch:
Trading the Indices on Fundamentals

Wow, you missed the whole point by a whole mile. When trading for a few ticks, the fundamentals are absolutely worthless. Price action and risk management are then paramount.

 

[bbpp]

Wow, you missed the whole point by a whole mile. When trading for a few ticks, the fundamentals are absolutely worthless. Price action and risk management are then paramount.

Re.
Not only on daytrading,position trading( hold position more than one day) also hard to rely on fundamentals.

 

[bbpp]

"A consistent $3k/day under all market conditions makes a good trader in my view, regardless the capital deployed."

A pro trader managing hundreds of millions capital would be fired if he makes 3K per day.

 

[FXtrader8911]

I don't understand what you said.
You said you disagree with me, but talked about a lot unrelated things.

Perhaps we differ in what clarity is.

You say pts count more than $$ in determining if a trader is any good. I'm saying that some market conditiond won't give you the points unless you scale, in which case, acording to your logic, large capital deployment makes one a poor trader, what is unrelated by that?

 

[bbpp]

Perhaps we differ in what clarity is.

You say pts count more than $$ in determining if a trader is any good. I'm saying that some market conditiond won't give you the points unless you scale, in which case, acording to your logic, large capital deployment makes one a poor trader, what is unrelated by that?

See my last post.

For a traders trading on hundreds of millions capital, 3K per day is less than bank interest. So he should be fired.

 

[FXtrader8911]

A pro trader managing hundreds of millions capital would be fired if he makes 3K per day.

Add, we differ in what defines a retail trader to differ in what defines clarity.

 

[bbpp]

Add, we differ in what defines a retail trader to differ in what defines clarity.

Feel free to post your entries and exits in this thread.
let's see how you daytrade on fundamentals.

Edit: if you trade indices other than ES, or you hold your position more than one day, you can post your entries and exits in my thread.
https://www.elitetrader.com/et/threads/position-trading-calls-and-ideas.335664/

 

[FXtrader8911]

Price action and risk management are then paramount.

I though that's exactly what I said... "The holy grail in short term trading is no longer in the ability to accurately determining the fundamentals but rather it is in proper risk management."

you missed the whole point by a whole mile.

Not at all.... I didn't say fundamentals matter in day trading, in fact, I said the opposite (see above). What I did say is that trading on fundaments with a longer horizon beats day trading. So stick to making comments on your area of expertise... yours is price action on short term trading, mine is long-horizon using fundamentals. Besides, you are mixing threads... on this thread, you all day-trade for a few ticks, that's fine if that's the way you want it. The followers of the other thread trade on fundamentals for 60 to 200 pts per trade and that's fine with those traders. Just don't criticize the other method before trying it first. i.e. limit your comments to what you know

 

[Buy1Sell2]

I am comparing traders' performance.
Under current circumstances, if I make 3 points per day on average,

If you made 3 pts per day average, you would be in the top 5% of day traders worldwide.

 

[FXtrader8911]

let's see how you daytrade on fundamentals.

Our communication is seriously braking down....Where did I say I day-trade on fundamentals? In fact, did I say I day-trade at all?

My positions are kept until the objective is reached or until the fundamentals change. If you are interested in my strategy, read the penultimate paragraph here:
Trading the Indices on Fundamentals