ES Journal - 2021/2022

mervyn said:
wow, just lucky enough to lock in at 4705 before it dived, easy trade is done for the day, 100 points. also 32 points for NQ 1 contract. need to go attending tsla now.
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two bad trades in the afternoon, gave up half, fair bets, can't win every hand. atr was just 2 points in the last two hours, lost my patients, sign off.
 
Relentless said:
I disagree. Luck doesn't work in this game over time.

He just has sharp chart reading skills and strong discipline.
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Any details on this run? Just from 15K to 100K is very impressive. You mentioned that he's now taking 1 point on 100 contracts. Did he do something similar starting out? Obviously with less contracts of course.

As for luck, I agree that it doesn't work over time, but we can't ignore that luck have played a factor for many great traders. There was another guy on this board who ran a 10K account to 100K and then blew it. In the Market Wizards books there's quite a few trades who did a bet-the-farm trade to stake their account.

Of course - as a leveraged day trader like your friend you'll very quickly blow out on luck alone.
 
I`ve always defined luck as to when hard work meets opportunity in a specific point in time...
that said, he`s found his edge in this particular PA ... the law of averages will prevail in RR eventually and flatten out the curve a bit... in the mean time continue to press his bet as all good gamblers/ speculators capice!
 
Been a while since we had an Outside Day, but we've seen stranger things these last few years.

If the LOD is in I assume we can see at least 95 + by the Close.

Still seems kind of heavy, so if momentum picks up again to the down - maybe 4650?

I have no strong read on this, but we're getting weakness as anticipated after a strong run up.
 
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