ES Journal Archive (2006 - 2008)

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Quote from apex82:

Quote from apex82:

buying ES right here at 1452.50 1.50 stop profit target minimum 4 pts then runners for retest of highs and last piece for new highs




Profit 1 hit and filled. Profit 2 now 1459 Profit 3 New highs with trailing stop

Check the time stamps... this trade was as accurate as they come.
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Profit 2 hit and filled. 6.5 pts so far with 1 tick of heat. Trail stop now active looking for a move to 1468-1470 on last 25% of position
 
Quote from Buy1Sell2:

winning trades should be let run.
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I disagree... through my backtesting 85% of the time I always get at least a point or 2 in my direction. At the end of the year banking some for a small profit makes a big difference. It also allows for me to have the right mindset to let my runners ride. If I do not then I am usually trading out of fear and will get out at Breakeven or a loss if it comes back to my entry.

This is just an issue for me but I am sure its apparent in a lot of traders. It may work for you but that doesnt mean it will work for everyone.
 
Quote from wave:

assuming a starting position of 10 contracts you are talking a profit of $1250 versus $5000.
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Yes but the odds of getting a 20 point move off the setup is much lower than a 6pt move. I adjust my trading to the odds. I dont know for sure its getting to 1469... its just a target.

Remember it was only a 1.5 stop. 4:1 risk reward sounds pretty good to me with a possibility of a homerun on the last unit.
 
let the market tell you the move is over with your full size + some on. let the market take you out, has anyone been paying attention to how B1S2 moves his stops?
 
Quote from wave:

if your looking for another 10 handle move, why would you do it with only 25% of your position?
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Just passing through, but your #1 thought must be to trade volume on the ES and therefore your #1 responsibility is to protect your account and maintain your volume.

It is all very well to offer hypothetical and at times puritanical thoughts and back tested sytems, but trading 1 -5 lots and trading 100+ lots of your own money are two different planets.

The rules change even although both cases appear identical at first glance.
 
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