ES Journal Archive (2009 - 2010)

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Quote from tommymoose:

I've gotta chime in here in hopes that it'll clean the board up a little bit. I assume that I'm speaking for other readers when I say that your posting is excessive. You seem to comment on every tick the market makes with no sound and consistent logic. If you have genuine analysis that you've spent time on that you'd like to share, I'm sure people would love to hear it, but I personally dont need to hear about your every market inkling.
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At least he is talking trading, have you read the content of most of the posts in this site ?

Besides, if it bothers you that much, there is an ignore feature.

Saliva makes good comments, but he is quite emotional in his trading, well so be it, accept him or ignore him.

..then move on.

I would not nominate him as my favorite blogger, but he makes interesting observations and gets this journal going. When does the OP show up ? Once a week ? At least someone is active.
 
Quote from MandelbrotSet:

Here's a link to NinjaTrader

NinjaTrader.

While not my favorite, it is a pretty good trading app for the retail crowd, and would solve any (many) of the order management problems being experienced on the Board.

And yes, I do use it.

And yes, it is good.

Good trading
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Hey Mandelbrotset,

Yah, I'm sure it's not the best in class but I'm a relative small fry and IB/Ninjatrader serves all my purposes. Cheers!

Ramp
 
hey jason,..

its hard at first changing your personal trading style, the reason so many fail is because we are hard wired to react to situations in similar ways.

the things that opt pointed out are crucial to success. One of the most important things you realize early on is how hard it is to come back from a relatively large loss, and how important it is to refrain from having those types of losses.

I've had huge point losses against me while swing trading but dollar losses are kept minimal because of underleveraging. I can still sleep at night, I hold positions for months at times now, as long as it fits into my trading plan.

Chris
 
Quote from Buy1Sell2:

It's not the overall point size of the move that makes it a reversal or a bounce, but it's the size of the move relative to the range on that particular time frame.
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can you elaborate please?
 
Quote from jason586:

OK, here goes - now that I am slightly calmer than 2 hours ago.



Planned on continuing to short today after the quick 906.00-906.50 long scalp when I noticed the buy limit I set last night at 912.25 was filled because I forgot to cancel it.

So, I added at 903.50..............
Then at 899.25..............
Then at 896.00..............

Held to EOD where two auto fills at 888.25 due to lack of funds for AH.

$15,100 to $12,250 - worst trade to date and very angry at stupidity of not just taking the accidental $300 loss from the buy limit and moving some of the money as was talked about earlier today - or even at 894.50 near the end of the day (which I almost did).

Now, sitting on 2 longs.
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Lots of emotions being expressed in your post.
If you wonder where my advice came from earlier about sweeping the account, let's just say I was in your shoes once a long time ago and that is how I compensated in order to prevent it from happening a second time. My only advice now is:

Do not dwell on the past
Learn and move on and survive again to trade another day.


Good luck
 
Markets going up... if we pop won't we be making an island formation?

Did a bad job posting my NQ trades yesterday (averaged in-and-out a few times, and had to leave in the pm), so I'll start by only posting my ES trades, as those are fewer and further in between.
 
Quote from opt789:

No offense, but this was inevitable based on your previous posts.
You can continue what you are doing and end up losing everything eventually, or you can treat trading as one of the hardest, most difficult professions in the world.
Do you use logical and proper stop orders? NO
Do you let your winners run? NO
Do you cut your losers to reasonable degree? NO
Do you know how to avoid revenge trading? NO
Do you keep perfect track of all positions and orders regardless of circumstances? NO
Do you use reasonable leverage for your account? NO
Do you have a realistic expectation of profit potential? NO
Do you know how to never, ever let your trading take control of you? NO

As I have stated previously, I will not claim to be an expert in what a trader should do, but I am a relative expert in what a trader should not do. Other than being honest about your trading here to hopefully get some help, you are doing most everything else wrong. Even if you fix the above problems (the very basics of trading) there is still little chance you will be a truly successful trader in the long run, these are just the facts of the business.
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Nice post. It's good to see one every now and again that reiterates many of the principles that are required to trade ES successfully. As I have said before, the only true edge in trading is capital and the management thereof. --I usually crunch most of what opt789 says down to "Never ever risk more than 2 percent of TLNW on any one trade/idea"--Again good post -Ishmael
:)
 
Weak bounce action overnight thus far but dollar on the run (to the downside again). I presume this is partly to help out the oil/inflation trade since it is very crowded. Could easily see a little more downside then maybe bounce tomorrow after Fed decision and continue for quarter end mark ups - however action has certainly changed for now from buy the dip mentality. You now have two weeks worth of traps - from Friday the 12th and now Friday the 19th. Should the move down accelerate much more and break May lows with conviction I would think the quarter end mark ups should be much more contained given that they gave back a HUGE portion of their gains as SPX closed March at roughly 800.

This playing in nicely with the set up on the monthly. Good Trading all - and remember one bad day does not a trend make. Do not think for a second that averaging down and having a massively horrendous day is something only you have done. Do you have much to learn - sure you do but we all do. Most people cannot learn to NOT ride a loser until they have done it themselves several times. It's the bruises that teach you proper money management.
 
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