ES Journal Archive (2009 - 2010)

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Quote from jason586:

Hallelujah, I finally held a winner for a length of time! Regained half my losses from Tuesday.

Long 894.25 to 905.75 on 2 contracts for 23 total points.
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Amen! Note that losses are part of running the business. The key to success, however, is not to let losses out of control.

Now, I have no intention to spoil the fun but it appears that your dough is attributed to more luck than anything else. For example, ES fell as low as 886 today. That's an 8-point drop from your entry ($800 or an 8% drawdown of your $10k account). Suppose it went down further and we closed the day in the red. Did you have a stop in place to get you out? This is a disaster waiting to happen.

Again, I feel completely out of character for bringing this up but it should not be construed in a negative way. Anyway, I along with everybody else wish you a great success!
 
Thank you for the kind words; and, yes, there is some luck at this point in my trading as I am putting together what works for me when real money is involved. Paper/vitual trading was easy.

I am learning what I can handle emotionally before I start to trade on fear or greed. Unfortunately, I have also taken, exited, and held on to trades due to posts I have read. I notice the market seems to almost always give you a few chances on a trade if you enter poorly as if the point is to continually take out stops and make its money that way. I find I'm usually wrong after about 4-5 points in the wrong direction. I definitely am feeling my way through trading and try not to over think. I buy when I think the price is too low and sell when the price seems too high for the time period I want to trade. I got my degree in statistics and minor in math in 2 years, so numbers come fairly easy to me - but trading is a bit different. I always get the best deal on everything I buy, but it is a lot easier when it is an item sitting in front of you.
 
Dammit, had a buy order for my NQ contract @ 1385, or basically 4 points too low. Ended up bagholding all the way up because I was busy with my day job.

That's a sad 600$ swing. Kinda expensive for greed.

Added a short @ 1421.75 and looking to close that one @ 1415 to play it safe.

Not too sure what to think of the market at this point. End-of-month rally?
 
Quote from startraitor:

short 908.50, stop over 911 target ?
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Still fighting the dragon, still losing. I told you, the projected 3rd top is around 930 cash, we are halfway there.
(1460 for NDX, currently 1428)
 
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