ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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IMO trading is all about entering into positions where you being "wrong" results in very little loss. Of course you need to study your charts to decide what constitute "wrong" (setups, etc), but thats the easier part. As long as you can do this, the winners will take care of themselves. Reading the PA and knowing when price isn't reacting the way you expect helps big-time also, but the key is good Risk:Reward ratio trades.
Took over 20 trades, wrong on half, +23.5 points today. It may not be much compared to some of you but I haven't had full-days to do this very long.
Unfortunately this is the last week I'll be able to day-trade. I'm going to work for 6-months as a part of my schools program. As excited as I am about where I'm going to work, I can't help but be a bit disappointed that I won't be able to trade for a while... I just really started to fall into my niche style and become consistent over the past month and was looking forward to sizing up to 2 contracts soon. Hopefully the markets won't change too much... I'll be back at it again in January... and with a bigger "bankroll" too
Took over 20 trades, wrong on half, +23.5 points today. It may not be much compared to some of you but I haven't had full-days to do this very long.
Unfortunately this is the last week I'll be able to day-trade. I'm going to work for 6-months as a part of my schools program. As excited as I am about where I'm going to work, I can't help but be a bit disappointed that I won't be able to trade for a while... I just really started to fall into my niche style and become consistent over the past month and was looking forward to sizing up to 2 contracts soon. Hopefully the markets won't change too much... I'll be back at it again in January... and with a bigger "bankroll" too
I'm almost positive that the markets will be here for you when you come back, perhaps with more volatility. Btw, what kind of internship/work will you be doing? Does it have anything to do with finance/trading?
Quote from tommymoose:
Took over 20 trades, wrong on half, +23.5 points today. It may not be much compared to some of you but I haven't had full-days to do this very long.
... I'll be back at it again in January... and with a bigger "bankroll" too
From what I have heard and seen, most daytraders are unprofitable and would therefore be happy with 2.35 points a day. 23.5 NQ points is OUTSTANDING for an intraday trader.
Will the markets change before you come back? I wouldn't bet on that. Market participants change because most end up throwing in the towel, but markets for the most part change very little. People have always had trouble controlling greed and fear. As long as that stays the same, the markets will too, imo.
Good luck.
the summer months u can sit and watch the spus in a 4 point range for 4 hours on a lot of days so u won't miss much,good trading and good luck
Took over 20 trades, wrong on half, +23.5 points today. It may not be much compared to some of you but I haven't had full-days to do this very long.
. Hopefully the markets won't change too much... I'll be back at it again in January... and with a bigger "bankroll" too
Good points. Thanks for the comments guys. I'll agree that most wont change much, but perhaps the little subtleties that I take cues off might. In any case if I found the subtleties the first time I'll probably be able to do it again. Heres a PA gift for any NQ scalpers/traders... take a look at candle's with 3-tick wicks on the 250CV chart. 
No, since my major is mechanical engineering, I'm going to work for a company that does most of the aerodynamic and thermodynamic engineering for the cars and trucks in the world, plus some motorcycle and race car stuff which is pretty cool. I actually interviewed with a major IB that said they were potentially looking for engineers for model development... feedback I got was that I was too technical. Go figure.
I'd love to trade for a living or go trade for a fund or something, but I just don't think the corporate IB thing is up my alley.
No, since my major is mechanical engineering, I'm going to work for a company that does most of the aerodynamic and thermodynamic engineering for the cars and trucks in the world, plus some motorcycle and race car stuff which is pretty cool. I actually interviewed with a major IB that said they were potentially looking for engineers for model development... feedback I got was that I was too technical. Go figure.
I'd love to trade for a living or go trade for a fund or something, but I just don't think the corporate IB thing is up my alley.- Status