ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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)http://www.forexfactory.com/calendar.php look at the news coming out tonight for japan, great britain,US tommorrow
Break even day on my futures trades. All ES and CL trades were profitable, but I got chopped up in NG since I was right on my long position, but when I got stopped out I reversed and got stopped out again.
Looking back at lessons learned, I need to wait for my indicators to indicate a possible start of the trade, and candle stick to provide confirmation of trade, instead of just buying a bottom of trend line on NG which worked all day until I decided to go long like they were waiting for me.
I covered my put for that I bought for $ 2 at $ 3 equal to $ 100 of profit per contract. This was an automatic target.
I was thinking of shorting ES again no stop or target last night but was fearful that the report in morning would be positive, but I guess I should have done it.
I currently have an EUR/GBP short in forex, no target or stop. Will look at trade in morning.
If you don't do many contracts, I don't think you need stops or targets for trades as long as you are willing to take a loss or profit based on your analysis of trade as time goes on. Obviously, if trade goes against you, you don't want to keep it on day after day, analysis should be made every day to determine if trade is working out or not.
Looking back at lessons learned, I need to wait for my indicators to indicate a possible start of the trade, and candle stick to provide confirmation of trade, instead of just buying a bottom of trend line on NG which worked all day until I decided to go long like they were waiting for me.
I covered my put for that I bought for $ 2 at $ 3 equal to $ 100 of profit per contract. This was an automatic target.
I was thinking of shorting ES again no stop or target last night but was fearful that the report in morning would be positive, but I guess I should have done it.
I currently have an EUR/GBP short in forex, no target or stop. Will look at trade in morning.
If you don't do many contracts, I don't think you need stops or targets for trades as long as you are willing to take a loss or profit based on your analysis of trade as time goes on. Obviously, if trade goes against you, you don't want to keep it on day after day, analysis should be made every day to determine if trade is working out or not.
Short 1103.75. Target : LOD.
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