ES Journal Archive (2006 - 2008)

[saxon22]

Quote from tomahawk:

Saxon, just curious ... what's the stop with your 1-point target? Also, what's your approx. win/loss ratio on that strategy?

- Thanks

When my account was 30K I was doing $500 to $1500 a day. In the beginning I would have stalingrad days once a week where I would give back 2500. Later, I modified my system and giving back was limited to once every 3 weeks.
My strategy is NOT 1 point. I go for small gains (minimum 1 pt) when the trend is very strong. Since I go counter trend trying for more than 1 pt. would be suicidal.
However, I am usually content when I reach that 1 pt. per contract ratio. This is my trading bread and butter. Often to sweeten the deal the market would give me 2 pt. per lot. once a day.
As for stops, they are very wide since I scale in against the trend. I get out when my position gets to -50 ergo $2500.

 

[wareco]

Quote from wareco:

2nd add at 50.25

Covered all at 46.25

 

[osorico]

Quote from wave:

forecast: cloudy with a chance of meatballs.

Spinal Taps new hit single:
Meatballs in the clouds with soybeans.

 

[saxon22]

Quote from smilingsynic:

Winners do not deny reality; they face it bravely, knowing full well the risks and acting with courage and confidence nonetheless.

Hey, it's your money, but if you "don't want to think" about the leverage aspect of these instruments we trade, that sounds like a problem to me. It's only a matter of time that you are going to HAVE to think about it.

As for those who flame out trading commodities and futures, talk to a broker. She will tell you that 9 times out of 10, leverage is the reason why traders lose (in the long run). Leverage is a two-edged sword. It is easy to forget that when the going gets good.

Many of those who TRY to trade futures are highly educated, independent thinkers. Doctors, lawyers, professors (like me), And most of them fail. Hubris, ego, and bad judgment are among the reasons, but excessive leverage is the main one.

Good luck to you.

I never said that I am not aware of what is behind that contract. However, I do to allow that to put my in a mental paralyses.

Most people do not make $$ because they do not have a profitable system. If you do not get the market, you will bleed all your $$$$. However, if you have a way of exciting $$$$ then whether you do it with 1 lot or 10 or 100, you will increase your account.

 

[Spectre2007]

selling building up. selling is a slow crawl relative to buy tic jumps.

 

[Spooz Top]

Quote from saxon22:

When my account was 30K I was doing $500 to $1500 a day. In the beginning I would have stalingrad days once a week where I would give back 2500. Later, I modified my system and giving back was limited to once every 3 weeks.
My strategy is NOT 1 point. I go for small gains (minimum 1 pt) when the trend is very strong. Since I go counter trend trying for more than 1 pt. would be suicidal.
However, I am usually content when I reach that 1 pt. per contract ratio. This is my trading bread and butter. Often to sweeten the deal the market would give me 2 pt. per lot. once a day.
As for stops, they are very wide since I scale in against the trend. I get out when my position gets to -50 ergo $2500.

the point everyone is trying to make is that with a 1:3,1:4 risk reward.....you`re constantly putting the odds against you.over the long term R/R is key to survival........the market does`nt care that you only want 1 point in exchange for a large sum....1 loss at 1:4 R/R means you`ll have to be right everytime or most to break even.

 

[Spectre2007]

1544 neck test before another spate of buying.

buying is definately more pronounced then selling, in the price action.

shorts are done for the day.

 

[Spectre2007]

key tech names are still up for the day...short covering will continue into the close.

usually everything is thrown out when the sentiment is truely bad.

 

[Jaxon]

geez, I just sold CAT at 83, bought this morning at 79.50. Unfortunately, only 100 shares. My investment account. Can't take 1.25 points heat in my trading account (low was 78.26) sorry for the OT.

 

[wave]

Quote from wave:

forecast: cloudy with a chance of meatballs.

We got the clouds again with some meatball sized rain drops. I will still look to build long position from 37-30 area. We could see it get there Sunday evening Globex.