ES Journal Archive (2006 - 2008)

saliva · Sep 10, 2007

Quote from saxon22:

Since you are probably wondering how is my huffing and puffing. Made $1352 today. Not a bad day not at all.

Sweet! After initially getting banged up in the morning, I crossed the finish line with just over 4 grand. Today's move in both directions seems quite predictable in hindsight but hardly considered easy by any means while you're huffing and puffing with teary eyes fixated all over the charts. So, job well done, Sax.

saxon22 · Sep 10, 2007

Quote from osorico:

Saxon, you don't get it. JJ hinted at it earlier today. I've said it before rather bluntly. It's too bad you *think* you have a some sort of long term profitable system. I wish you no trading harm, but in this case trader-tuf-luv, is what's needed.

Next Im sure you'll dazzle us with the tale on how your $1352 profit today came from your original long trade. You know, the one where you were whining as it hit YOUR "uh-oh, trade in trouble" zone and then fell well beyond. Or maybe it's that your broker "fixed" their recent trading issue and now ALL your orders are executing with immediate fills, without any slippage. I do appreciate however, that you did not post your hourly cigarette intake during your trying times. Thank you.

Osorico

So much hate, so little time to dispense it. I will just leave it at that. My mother taught me better than that.

saxon22 · Sep 10, 2007

Quote from JSSPMK:

Sax, what is your average win and loss mate?

After modifying my system, I have yet to be in the negative for the day. Before that when I was playing with my full account, I was down and out twice for 15K (early summer). Was lucky to still be in red by I did not like the emotional roller coaster. So, I modified and now risk little and make less, but have laid off the cigs,and no longer want to punch the walls in my house.

JSSPMK · Sep 10, 2007

Quote from saxon22:

After modifying my system, I have yet to be in the negative for the day. Before that when I was playing with my full account, I was down and out twice for 15K (early summer). Was lucky to still be in red by I did not like the emotional roller coaster. So, I modified and now risk little and make less, but have laid off the cigs,and no longer want to punch the walls in my house.

I see, I thought you still average down (crawling backwards into the cave

)

osorico · Sep 10, 2007

Quote from saxon22:

So much hate, so little time to dispense it. I will just leave it at that. My mother taught me better than that.

Just take em or leave em tidbits. I don't really care. There is no love or hate on my side. Im flat, happy, and disciplined.

BTW: Your mama knows NOTHING about trading.

Osorico

saliva · Sep 10, 2007

Quote from JSSPMK:

I see, I thought you still average down (crawling backwards into the cave )

Ya know, there's nothing wrong with averaging down while the major trend is intact. Only when the trend has reversed are you in deep shit. You would be amazed how many times I was able to save my skin by using this method effectively. However, I don't encourage this practice for those with limited resources.

Anekdoten · Sep 10, 2007

Why is it so hard for traders to just add to winning positions and stay put when a position goes against you or take your stop.

It's the greatest mystery to me.

Anek

JSSPMK · Sep 10, 2007

Quote from saliva:

Ya know, there's nothing wrong with averaging down while the major trend is intact. Only when the trend has reversed are you in deep shit. You would be amazed how many times I was able to save my skin by using this method effectively. However, I don't encourage this practice for those with limited resources.

I asked, because I was under the impression that his max loss was around $15k and average win around $1.5k, if that was correct, then I hope you would agree one needs a unique win loss performance to justify that. You refer to something different.

Spooz Top · Sep 10, 2007

Quote from Spooz Top:

i`d be very surprised not to see a sympathy rally mid/late day & into tomorrow....i`m actually expecting it......looking for a test of 70 before the day is up.

well we had that mid/late day rally that i was expecting.....as per usual i was a bit early in the am session but much more than made up for it in the pm swing to 60/63....from 46.25 cost basis.
i will not be around for tomorrows am session as i`m going down to ground 0 one last time to say goodbye to a friend....but should be back for pm session.....good trading all.

JSSPMK · Sep 10, 2007

Quote from Anekdoten:

Why is it so hard for traders to just add to winning positions and stay put when a position goes against you or take your stop.

It's the greatest mystery to me.

Anek

It's no mystery at all, it's not about lack of discipline in some of us, I am certain it's about overpowering conviction in personal bias, I always remind myself of Osorico's rather wonderful statement - "Trade what you see, not what you think". I am part mechanical part discretionary I suppose, some decision making is always present, but not when it comes to taking a stop.