ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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here's what i've noticed so far. i know i haven't seen enough samples yet, but it seems like profit target is better for short time frames. in the past few trades, a grail appears so i look for the opposite grail for an exit. but by the time the opposite grail shows itself, the price has retraced almost all the way back to my entryprice. what do you guys think?
Quote from Buy1Sell2:
Gentleman and perhaps Ladies,
I have come to a realization--an epiphany of sorts. I would like to share this with you as I feel it is good to communicate these thoughts in my efforts to discover my true self. The realization is that I am a very bad day trader. I believe that the ability to recognize one's weaknesses is integral to being successful. Every successful trader must define his weaknesses and strengths and cater to the strengths and away from the weaknesses. It didn't take me very long this time around to reaffirm to myself that I am not good at it. I found myself not paying attention to the daily trend, letting myself out of long trades without consideration of the daily reaction lows etc. For whatever reason, be it lack of ability, lack of focus or poor system, I just cannot cut it day trading. My strength, I feel is in position trading and always has been. For one, the charts look different, and I can see things much better--I would encourage you folks, my friends, to continue posting your intraday trades and thoughts as I do find them interesting and I will be posting longer term stuff. I have no positions in the short term account right now( I should still be long, but am not due to intraday). The only variation I will have from my previous years experience is to glance at the 60 minute if I am bullish on the daily looking for an entry for adding postions etc and vice versa. Positions will now be held overnight and many for long periods. You can see how well I did when I wasn't day trading in this journal and I now aim to have that continue. Best regards and I look forward to reading your posts as usual.By the way, I will never day trade again--it is not my forte.
Buy1sell2,
I have a question (scenario type question) that I would like to ask with regards to the scaling out thread.. Not interested in argueing or anything but would like to know how you would handle this as I'm trying to learn. If you are willing to answer I will post the question here or in the other thread whichever you so chose. I guess I'm typing my request here as in the other thread people were getting angry. Have no wish to be stuck in the crossfire. Thanks.
I have a question (scenario type question) that I would like to ask with regards to the scaling out thread.. Not interested in argueing or anything but would like to know how you would handle this as I'm trying to learn. If you are willing to answer I will post the question here or in the other thread whichever you so chose. I guess I'm typing my request here as in the other thread people were getting angry. Have no wish to be stuck in the crossfire. Thanks.
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