ES Journal - 2019/2020

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Laissez Faire said:
So true. One of the professional traders I've been fortunate to talk to says that there are times when he can stay out of the markets for hours if things are not clear and if he's not getting a signal.

I got chopped up yesterday and it was partially because I was not patient/selective enough about my entries.

So, it's a lesson I'm still learning...
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Once we have too many conservative losses, we should scale down or stop until you can read price action again. Sometimes, you just can't read the markets and inputs change intraday. Its dynamic for sure.
 
In 31 years i've seen 1000 guys come and go. Many get excited when they hit a big run and extrapolate out they'll make millions . I tell all of them unless you can control your emotions and trading you'll be gone soon. The most important skill a trader can have imho is to know when not to trade and when to trade huge and press your bet which happens only a few times a yr max .Like today its a rest day for me . The movment doesn't interest me much .But i'll be ready when the next big comes. Each trader must access their trading plan based on their comfort level of risk
 
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hafez50 said:
In 31 years i've seen 1000 guys come and go. Many get excited when they hit a big run and extrapolate out they'll make millions . I tell all of them unless you can control your emotions and trading you'll be gone soon. The most important skill a trader can have imho is to know when not to trade and when to trade huge and press your bet which happens only a few times a yr max .Like today its a rest day for me . The movment doesn't interest me much .But i'll be ready when the next big comes. Each trader must access their trading plan based not their comfort level of risk
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The markets have humbled me many times already. Play small to build up chips and play big with free chips to scale up
 
When I stopped looking at purely PA, I tend to do better. It is good to complement all the tools available. Feel the markets and anticipate, then, let PA confirm the play. If its weird, then, exit.
 
I use no charts really and only my mind and ability to visualize things. I've become a part of the market gauging its fear and greed and trading accordingly. As i mentioned last week i felt the massive never seen before fear in stocks like dal,ual,bp,uber and on and on and bought them several times . I didn't look at charts but i gauged the crazy fear. I knew the fear would past as i witnessed it in 2001-2002 and 2008. I bought them all and now many up 50-110%.
 
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