ES Journal Archive (2006 - 2008)

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Quote from Buy1Sell2:

Thanks for the nice comments JJ. I am not sure though which portion of my strategy was outside the box. Can you tell me? Thanks!:)
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Simply this. Most traders think in terms of probability.
Quote from volente_00:

The day trader focuses on great entries and exits with full position while the position trader is less concerned about the entry and exit as long as they can keep averaging. What you are trying will work when we get trend days but that is not very often.
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The more they can think in terms of overall profitability, and using money management to fuel their success, the better traders overall they will be.
Quote from Buy1Sell2:

I am using a 20 to 25% win ratio. The key is the increasing size(Not doubling) and cutting losses short .
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... now imagine using these concepts with a system which gives you 50%-65% wins.

Happy Holidays,

JJ
 
Thanks again JJ. I appreciate your clarification as I wasn't certain what you were referring to initially. Yes, I agree with you on the profitability issue. Many traders are so concerned with being right that they forget that they can be wrong a lot and still make a lot of money. Thanks again!:)
 
Quote from Buy1Sell2:

Stopped and reversed at 1439.00 with increased size. Initial stop 1444.50. Using a little larger stop as this corresponds with the hourly as well. looking at 1441.25 as a stop and will move it there as quickly as it makes sense.
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Still short here with the 3 units.
 
Quote from Ducatiman:

Good lock. Do you project targets? (This could be a good one.)
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I think 6 points intraday is a good target, but no typically, I use trailing stops instead of targets.
 
I believe the one of the keys to successful trading is focusing much more on the potential loss rather than the potential gain. Stops should be placed outside the noise and should make sense both to the account size AND to the chart. The two must agree. Profits will take care of themselves. Let the money management take care of the risk. :)
 
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