ES Journal Archive (2006 - 2008)

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11-25-08 08:38 AM

11-24-08 07:07 AM

11-20-08 08:31 AM

Short one contract at 795.00

Initial stop 1075.00
Maintaining the stop here at 1075.00
Maintaining the stop here at 1075.00
Adding an additional 19 at 869.75 with the stop also at 1075.00
Total of 20 units short.
--Stop remains at 1075.00--I will be keeping this position small at 20 contracts due to the fact that I sold into an oversold market and must keep my stop outside of the noise. There could be quite a bit of noise with the bullish divergence on daily. The weekly and monthly remain strongly down.--
 
On a related topic.... I know this is highly ocnfidential but I thought it may generate some interest.

Average daily Profit in ES and NQ trading (Loss? I hope not!)

In normal trading environment - before September 2008 - I
had an average $620 per day. Since September, I am averaging $940. I expect this to revert to the $600 when markets return to normal. Yeah, it will, regrettably so, back to daily SP ATR of 12 to 15 etc

I have been tempted many times to increase position size in ES and NQ trading but I have refrained from doing so; I don't want to do that unless I am sure it will not affect my trading. I am not sure of that, as yet.

Comments?
 
Jahajee,
you right a bird in hand is more value then 100 in the bush!

Happy Trading you doing geat job!

You have all the time of the world to increase numbers of contracts once you are 100% prepared and fully confident.

Gul





Quote from Jahajee:

On a related topic.... I know this is highly ocnfidential but I thought it may generate some interest.

Average daily Profit in ES and NQ trading (Loss? I hope not!)

In normal trading environment - before September 2008 - I
had an average $620 per day. Since September, I am averaging $940. I expect this to revert to the $600 when markets return to normal. Yeah, it will, regrettably so, back to daily SP ATR of 12 to 15 etc

I have been tempted many times to increase position size in ES and NQ trading but I have refrained from doing so; I don't want to do that unless I am sure it will not affect my trading. I am not sure of that, as yet.

Comments?
More...
:p
 
Quote from Buy1Sell2:

11-25-08 08:38 AM

11-24-08 07:07 AM

11-20-08 08:31 AM

Short one contract at 795.00

Initial stop 1075.00
Maintaining the stop here at 1075.00
Maintaining the stop here at 1075.00
Adding an additional 19 at 869.75 with the stop also at 1075.00
Total of 20 units short.
--Stop remains at 1075.00--I will be keeping this position small at 20 contracts due to the fact that I sold into an oversold market and must keep my stop outside of the noise. There could be quite a bit of noise with the bullish divergence on daily. The weekly and monthly remain strongly down.--
More...

Let's try again: Your first trade represented a potential loss of $14,000 for 1 contract which would represent $700,000 TNW--assuming your stated money managagement plan taking no more risk than 2% of TNW. Now you make a trade of 19 contracts with a potential loss of $10,262 per contract or $194,978 if you were stopped out on all the contracts. What's interesting is this later trade now represents a TNW of $9,748,900. So what happened to your magic formula of risking no more than 2% of TNW? In reading many of your past post you made it very very clear than one should NEVER risk more than 2% of TNW.

DMartin

PS If your position is small at 20 contracts you must be in the $100 million gang
 
Quote from vertigo3:

J
question,

How many contracts do you trade at a clip?

do you scale in and/or scale out?

average pts/ trade?
More...


Just 2 or 3 contracts; on rare occassions when market makes big moves I may trade as much as 10 to 20 but I have done this only about 8 times during the past few months.

Most of the time I go for 2 contracts; I usually scale in and out when trading more than 4 contracts. Most trades are scalps, not more than 15 to 20 minutes.

I also trade stocks and options, and sometimes grains and crude, so I don't devote all my time to ES & NQ trading.
 
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