ES Journal Archive (2009 - 2010)

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Thanks schizo. We have a lot of the same trades.

Just running some #s based on SPY implies that the typical day for SP is 15 pts, with 1 std dev being 10 pts. Of course, this is not normally distributed but just thought I'd throw in my .02 :D So far today we are at the 15 pt range. Will have to look at the shape of the distribution when I get a chance, but I believe there would be a fat tail to the upside and very few days below say 8 pts..
 
Quote from schizo:

"Rule of 10":

1057 --> 1066.75

1061 --> 1071

Vol essentially holds the damn patent on R10 so I suggest you pester him for further details.
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you forgot the 69 short signal from 59 !!!
 
Had a sim trade from the forex trading room that was a loss, not sure if much value to continue in this room.

Also, after the real es trade did some sim trades on es, that were profitable, so got to wonder if its better to take more signals when your trades are working and take less on losing days.

Wonder if you all take every setup, more on winning days, more on losing days.

I admit I have taken more on losing days which some times causes a bigger loss, maybe I need to reverse this strategy and take more only on winning days, and less on losing days.
 
Quote from oraclewizard77:

Had a sim trade from the forex trading room that was a loss, not sure if much value to continue in this room.

Also, after the real es trade did some sim trades on es, that were profitable, so got to wonder if its better to take more signals when your trades are working and take less on losing days.

Wonder if you all take every setup, more on winning days, more on losing days.

I admit I have taken more on losing days which some times causes a bigger loss, maybe I need to reverse this strategy and take more only on winning days, and less on losing days.
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TET


Take

Every

Trade


As long as it is generated by your indicators,system, method.


This is all about probability and if you pick and choose trades then you hurt yourself by missing on on winners. As long as the trade meets your criteria then you should take it. The only downside is if you are a contrarian trader you do not want to blindly fade away against the trend over and over on a trend day or you will be asking for a big losing day. This is where it comes in handy to have a max drawdown for the day. Once it hits, you need to walk away and let your mind clear so you do not keep throwing good money after bad and revenge trading.
 
I like what you are saying about a max loss for the day. I think that it may be better to just have that.

I don't think I fall into the camp of trend trader or reversion to the mean trader.

I like to analyze PA and then take the trades with at least 2 confirmations including one from my indicator. I also like to automate the process so that once I am in a trade, I have automation so I can walk away from the screen or watch CNBC and not have to get too emotionally attached since I think we make better decisions before the trade takes place than once we are in the trade.

Quote from volente_00:

TET


Take

Every

Trade


As long as it is generated by your indicators,system, method.


This is all about probability and if you pick and choose trades then you hurt yourself by missing on on winners. As long as the trade meets your criteria then you should take it. The only downside is if you are a contrarian trader you do not want to blindly fade away against the trend over and over on a trend day or you will be asking for a big losing day. This is where it comes in handy to have a max drawdown for the day. Once it hits, you need to walk away and let your mind clear so you do not keep throwing good money after bad and revenge trading.
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oracle, watching cnbc is the worst thing you can do as a trader,my dad had a saying ,garbage in ,garbage out, he was referrring to drive in movies at the time, but it works for cnbc also, they trot out a bunch of suits trying to sell the idea of investing, to the public,when it goes up, they jump up and down screaming ,hurrah,when going down they mute the effects behind it
 
I do it for entertainment, and I can watch live the S&P 500 ticker so I know when to go back and check on the trade. For example, I saw the ticker going down, went back up, and saw that in futures I made a profit.

Also, right now, I can't even remember what they were talking about.

What's even more fun is after done trading to watch Hell's Kitchen on Hulu. To see Gordon scream at pro for trying to put out raw food is priceless. :-)

Quote from ammo:

oracle, watching cnbc is the worst thing you can do as a trader,my dad had a saying ,garbage in ,garbage out, he was referrring to drive in movies at the time, but it works for cnbc also, they trot out a bunch of suits trying to sell the idea of investing, to the public,when it goes up, they jump up and down screaming ,hurrah,when going down they mute the effects behind it
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