Quote from jason586:
No offense taken. I am a new trader to ES (only since 04/29) and have made close to 300 trades of which about 290 have been BE or positive and the other 7-8 trades HUGE losses. I have gone from $10K to $12.6K to $9K to $15.2K to $8K to now at 13,243 at this exact moment with no positions.
I am only trying to get a feel. Everytime I have taken a loss, the market has come back if I would have just waited and not added 2 or 3 extra contracts which didn't give me the ability to wait. I tried trading with a 2-3 point SL for a couple weeks and did not get any traction. I am back trading with no "hard" SL, but have added a catastrophic SL (10-12 points depending on trade) as to not allow a position move 25-30 points against me and am overly cautious not to add to positions too quickly.
As for the trade you quoted, I do try to pick mini tops and bottoms and missed that one, so I was happy to make $20 on a mistake and hold the second for a few more points for a better profit.
I know this is not how many trade, but it is somewhat working for me as I have to tweak and understand how I work/handle with real money on the line and what works for me on a day to day basis.
