ES Journal Archive (2006 - 2008)

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Today's results (Daily range 11.75 pts):

I will say it before anyone points it out, I've changed 2 trades, as I've used a discretionary decision and that was not part of the plan. It was still a losing trade, just a fairer one.

Short 1375.75 (9.15am) +0.75
Long 1375.00 (10.15am) -2.50
Short 1372.50 (10.30am) +4.00
Long 1368.50 (12.25pm) -3.00
Long 1368.50 (2.15pm) +0.50
Short 1369.00 (4.00pm) +0.50

Total: +0.25

All entries are solely based on grails in RSI on 5 min TF and a simple line chart.

Stats after 5 days testing:

Total trades - 29
Winners - 18 (+39.50)
Losers (including B/E trades due to commission) - 11 (-15.00)
PnL - +24.50 pts Net
P/F - 2.49
% winners - 62%
 

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The system test for the week, was impressive. From what i have read, a 62% system is quite successful, as the trader lets the winners run, and cuts the losses short. I think Linda Bradfro said that. And my firm belief already is that non-live charts are just as dependable as live chart calls. Nothing should change, right? So, not being aware of all the system signals tested during the live period is not relevant. They can be given rear view mirror, so they say. Also, the very acceptable loss incurred by b1 yesterday with the 20 contract trade was also a terrific example of trader in control. Those small losses can be overcome anyway as most need minimum 100,000 in their account to cover the losses that are truly not a big problem. frogman
 
Quote from frogman:

2% MAKE MONEY 98% LOSE MONEY. DO U REALLY THINK YOU WILL BE IN THE 2% AFTER FRIDAY PERFORMANCE?
More...

You think you have the single most perfect system and yet, have never made a live call. Then you go to threads and badger those who don't have your self-proclaimed results.

You have no idea what others have going on. For all you know, B1S2 dropped a penny on the sidewalk and it rolled into the drain....big deal. Obviously, nobody on ET can match your stellar results so either find some goodness in your heart and help, otherwise take a hike.
 
As far as 100% systems are concerned, I hope everybody understands that it simply can not relate to every single trade we (anybody) make/s. There will always be losing trades, as long as profit factor stays @ or above 2.00, you will be within 2 or whatever the %age is for people profiting from intraday trading. Is it possible to run a conventional business @ 50% gross profit? Of course it's possible, not all businesses. The lower the overheads, the higher the odds of staying profitable operating @ 50% GP. Profit factor of 2.00 means that your OVERALL net gain is double upon your OVERALL gross loss. The system that is based on B1S2's signal has averaged 2.49 over the last 5 days, of course it does not mean that this would stay the same. But that's up to an individual to establish.
 
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