ES Journal Archive (2006 - 2008)

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Quote from romik:

observing your action 2day, i reckon if you keep doing what u r doing your capital will keep shrinking at a steady pace. Just out of curiosity, at what time did your trades take place?
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I post the trades in real time once the trade has been executed. There may be a very slight delay if I'm in the middle of something, but it would be very slight.
 
well, not bad at all for 1st day, all the best for 2morrow. The reason I said earlier is that your stops seemed to me a bit heavy in relation to anticipated/realized points gained. If your stop is 6 pts and target @ 2-4 points, that would make your strategy vulnerable to bigger losses, but you seemed to manually stop out your losers, which was good.

How many cars do you trade?
 
I just started with 4 since this type of short term is new to me. We'll see if I have any ability with it and I may add to that as time goes on. I'm glad you did see that my focus is to manually stop and reverse myself but put in the larger stop simply for catastrophe (too strong a word here). Thank you for your questions about the stop , it made me think about it a bit.
 
Quote from Buy1Sell2:

I just started with 4 since this type of short term is new to me. We'll see if I have any ability with it and I may add to that as time goes on. I'm glad you did see that my focus is to manually stop and reverse myself but put in the larger stop simply for catastrophe (too strong a word here). Thank you for your questions about the stop , it made me think about it a bit.
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I trade in a different manner. I currently trade 15 contracts, my goal is to trade 50 to possibly 100 contracts at a time with 0.75 point stops, entering trades ONLY on large volume and almost definite directional movement, even if it is a rapid one. As liquidity is not a major problem in ES, unlike other instruments, I assume getting filled on 100 cars would not be a problem with minimum slippage. As I mentioned before in one of the posts my profit target is from 0.5 to 2 points per trade and I am not into compounding. Though I consider myself a junior daytrader :), I don't open positions every day, unless a definite opportunity arises. And I never trade the chop zone. All the best with your strategy.
 
Quote from Buy1Sell2:

short at 1289.25

stop at 1293.25
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this one I wouldn't have gone for, a bit choppy there, not much volume either. I hope u don't mind me commenting, if I annoy u just say so :)
 
good call though, here is another suggestion, normally works on 1-2 point trade. open 5 min chart OHLC of ES. If gaps on open 5 min higher -> short it and vice versa, u do need something like X_trader platform for it and that is a quick scalping method.

P.S. Obviously wait for the price to pull away from the close by 1-2 points prior to opening position and watch that volume progression.
 
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