ES Journal Archive (2009 - 2010)

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As indexes go, you boys do realize, of course, that TF has roughly twice the daily range of ES and a smaller tick size. Right? Heck, its RTH range has even exceeded that of CL lately. I'm just saying.
 
Quote from oraclewizard77:

This is not really an issue of understanding, but of psychology. I don't like to take losses, and have a hard time letting my winners run. This is something that I still need to work on.
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So you do not utilize full automation via NinjaTrader? Seems the logical progression for your personality once you have a few trading models you adopt for good.

You seem like an analytic/logic based guy. That battle "not liking to loose" is something that will come with time and may always be a battle for you. Thats part of your core personality most likely.

If your trading model is set up right, loosing will naturally be part of it...a good trader finds out how to trade within his weak points and doesn't try and change himself for a system. The system needs to be created around you. There are so many ways to make money trading but at the core "to loose money" [responsibly] is to make money [disciplined].

Have a great weekend!
 
Previous poster, great point! I don't look for a 2 point move in the ES. I used to do that. I was happy to be able to say, "hey I made money!" Now it's a laying and waiting game. It's PERFECTLY ALRIGHT to NOT be in a trade if "prey doesn't come by close to where I'm laying I wait." Meaning, I don't chase or fight a trade anymore. Both cause pain...

I'm looking for my winner to run, and loser be cut quickly. Oh yes, Babe Ruth used to strike out more than the average player. However, when he made contact with the ball, he "knocked the crap out of it, and ran the bases."
Loss as much as winning is a great teacher.
 
Quote from Gabfly1:

As indexes go, you boys do realize, of course, that TF has roughly twice the daily range of ES and a smaller tick size. Right? Heck, its RTH range has even exceeded that of CL lately. I'm just saying.
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Let it go against you and you'll wish you trading ES. I trade that monster only when I have a very high probability set up such as the one posted earlier.
 
Quote from oraclewizard77:

I have a over 20 page file in Microsoft Word on trading setups with charts attached. Also, I have had my mentor e-mail his charts after the day is over, so I can see where he took a trade long or short.
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Outstanding discipline! Keep up the good work! Have a good weekend!
 
Quote from schizo:

Thanks for the feedback. Some clarification please. You used the extension derived from the daily range 2 days ago. What are you then basing the 200% expansion on? Which daily range? Yesterday or 2 days ago? It's hard for me to grasp this concept since you're applying the range from 2 days ago.
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If today, 5/21, is day [0] then yesterday, 5/20, is day [1] and the day before yesterday, 5/19, is day [2].

Ok, day 2 had a range of 24 and it was a "down" day. So we extend that expansion off of the low of day 2 to see if day 1 will break through by 1 tick or more. Day 1 did just that.

This expansion of ranges has to be 2 consecutive days. The lines levels are drawn and price moves to them, not always like it did today.

Does that answer your question in full? If, not I have no problem elaborating more.

Is it ok if we pick up on the ES sessions breakdown next week? Just remind me :cool:
 
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