ES Journal Archive (2009 - 2010)

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Quote from Anna K.:

Buy1Seel2, I've been reading your grail thread and ES thread. I'm trying to understand your strategy, I have a question on your last entry in ES journal. From what I understood, you usually go with the weekly trend and use daily RSI to help you find your entry point. Your last "Short 20 @1030.25 basis Dec 09" seems to go against the trend. Plus, RSI showed no lower low. Was this trade slightly different, trying to anticipate the change of trend in this overextended rally? thanks!

not trying to criticize, just curious. Other comments are welcome.
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Great catch Anna! It most certainly was anti trend and this is what happens when a trader doesn't follow their own rules. I know we are going to pull back a great deal at some point, but I should not be trying to anticipate it like that. Let's see how it plays out. --Still in for now. --:)

It also demonstrates that it is not bad to be wrong sometimes and have other people see the mistakes. It will make you a better trader in the long run--
 
Quote from Buy1Sell2:

Great catch Anna! It most certainly was anti trend and this is what happens when a trader doesn't follow their own rules. I know we are going to pull back a great deal at some point, but I should not be trying to anticipate it like that. Let's see how it plays out. --Still in for now. --:)

It also demonstrates that it is not bad to be wrong sometimes and have other people see the mistakes. It will make you a better trader in the long run--
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Wondering how you feel about adding to this position? Obviously theres a good rule that adding to a losing position is never good. However, if SPX ended the week in a way that met your standards for putting on another short position, would you? Or only if stopped out?
 
Quote from JSSPMK:

S1066 s1067.75

*2/3 +1.75

** 1/3 b.e.

L1063.75 s1062.5

*-1.25

L1062.75 s1061.5

*-1.25

L1061.5 s1060

**2/3 +2.25
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***1/3 b.e.

S1061.5 s1063.5

*b.e. entered too late to scale out, not too fruitful recently, not to worry. Need to catch a break :)
 
Quote from JSSPMK:

S1066 s1067.75

*2/3 +1.75

** 1/3 b.e.

L1063.75 s1062.5

*-1.25

L1062.75 s1061.5

*-1.25

L1061.5 s1060

**2/3 +2.25

***1/3 b.e.

S1061.5 s1063.5

*b.e. entered too late to scale out, not too fruitful recently, not to worry. Need to catch a break :)
More...

L1063.75 s1062

*b.e. Jeez!
 
Quote from JSSPMK:

S1066 s1067.75

*2/3 +1.75

** 1/3 b.e.

L1063.75 s1062.5

*-1.25

L1062.75 s1061.5

*-1.25

L1061.5 s1060

**2/3 +2.25

***1/3 b.e.

S1061.5 s1063.5

L1064.75 s1063.5

*2/3 +0.75 dull or what?!
More...

**1/3 +0.25

S1065 s1066.5

*2/3 +0.5

**1/3 -0.25
 
Ended even before commish after 6 (1 lot) trades.

Had 3 'good' trades but got out an average of 2.5 points early on each. Had 2 'bad' trades that flat out went against me from the get go and one trade I got in too early and got stopped out.

If I could convince myself to let some of these svckers run, I might actually make some money. I'm only trading 1 lot right now or else I would scale out. Recently, this has become the norm as I'm afraid if I 'let it run', it will go against me and I'll lose what little I am making.

I know this is a journal and these are not live calls but if any of you have advice on this, please feel free. I plan on buying a book on fear of trading or market psychology as soon as I'm done with Reminiscences of a Stock Operator (good book, btw).

TIA
 
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