ES Journal Archive (2009 - 2010)

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Almost better off trading at Night and sleeping in the day (Or move to Asia....) Nightly there are smooth roller coasters, daytime barb-wire... today better than Yesterday though.. Made 3.5 points.. but took over 4 hours to get it. Ironically in a perverse way, less risk in ES today than those wild days but more risk of trader coma.

ES being held up for Thanksgiving rally... Then Xmas rally.. then New Year rally.. name your own rally!
 
Quote from Laissez Faire:

It did not help :) When the market broke, I widened my stop with two ticks to my maximum stop loss (2 points). I did not have faith in a rebound, but two ticks seemed cheap just in case. Eventually the market did rebound and I would most likely have got filled with a 1,5 point profit, but I`m a short term trader, so I have to admit that I was wrong on this one.

Btw, is it in the spirit of this thread that I make posts like this and post my daily charts or should I make myself a journal?

I really did not intend to start logging my trading publicly, but it just happened one day and I do like the idea of being held accountable by someone other than myself.

Enjoy the weekend guys and gals! :D
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Does your method require new day high/low before getting in? looks like it.. also looks like a breakout system? Just wondering if you considered the 1190.5 morning break to get long... considering 1188.5 was recent S/R.

Cheers..
 
Here is EMG trading advise:

DO NOT FOLLOW THE GAP!

too many people are following the gap.

DO NOT FOLLOW THE PIVOT PT:

too many people are following the pivot pt.

DO NOT FOLLOW THE SMA:

too many people are following the sma


The only indicator u should follow is MATH

create a mathmatic formula.

Math create risk/reward ratio
Math create entry price
 
Good charts, on my sim trades I lost $ 155 and my real trades I made $ 115.

The only issue I see is risk vs reward. You should not be thinking about getting out at .50 if your risking 2 points on the stop. Risk vs Reward should be even if you are around 50% or higher in win%. If you have a 85% or higher win%, then yes you could use a negative risk vs reward as long as you actually use a stop.

I think I missed the daily picture till I reviewed your chart. After we broke above the mornings resistance, then yes, it did look like a trend day up. I woke up with a negative basis and since the market sold off in the morning, after indicator confirmation, that is why I went short on ES, but it was a wrong reading of the charts.

As the morning trade went against me as noted, I got long CL since the indicator there was long.

And final real money short trade was at 1097 which made a profit. I still had a negative bias, so both sim trades were for short breakouts which got stopped out. My last sim trade was a limit short at 1099 which was up 1 point in profit when the market closed.

I don't think there was anything wrong with your long trade, it looks like what happened is that the market decided to stop hunt before turning higher. What you could have done after getting stopped out, is jump back on once you see the market reversing to the upside. At the point the market stopped you out that was basically a breakout to the downside. However, the breakout failed, and trapped shorts.







Quote from Laissez Faire:

It did not help :) When the market broke, I widened my stop with two ticks to my maximum stop loss (2 points). I did not have faith in a rebound, but two ticks seemed cheap just in case. Eventually the market did rebound and I would most likely have got filled with a 1,5 point profit, but I`m a short term trader, so I have to admit that I was wrong on this one.

Btw, is it in the spirit of this thread that I make posts like this and post my daily charts or should I make myself a journal?

I really did not intend to start logging my trading publicly, but it just happened one day and I do like the idea of being held accountable by someone other than myself.

Enjoy the weekend guys and gals! :D
More...
 
Quote from Rashid_G.:

Does your method require new day high/low before getting in? looks like it.. also looks like a breakout system? Just wondering if you considered the 1190.5 morning break to get long... considering 1188.5 was recent S/R.

Cheers..
More...

Hello Rashig_G,

My method as it is evolving does not require a new daily high or low before executing and looking at the charts I`m quite confident that I would have considered a long where you`re describing. Unfortunately, I`m working a full-time job and I trade the US market in the evening (I live in Europe), so I`m usually not able to trade more than the last three hours or so :)

As a result, I miss a lot of opportunities, but I also have very good picture of what has evolved when I start trading.

Quote from oraclewizard77:

The only issue I see is risk vs reward. You should not be thinking about getting out at .50 if your risking 2 points on the stop. Risk vs Reward should be even if you are around 50% or higher in win%. If you have a 85% or higher win%, then yes you could use a negative risk vs reward as long as you actually use a stop.

I think I missed the daily picture till I reviewed your chart. After we broke above the mornings resistance, then yes, it did look like a trend day up. I woke up with a negative basis and since the market sold off in the morning, after indicator confirmation, that is why I went short on ES, but it was a wrong reading of the charts.

I don't think there was anything wrong with your long trade, it looks like what happened is that the market decided to stop hunt before turning higher. What you could have done after getting stopped out, is jump back on once you see the market reversing to the upside. At the point the market stopped you out that was basically a breakout to the downside. However, the breakout failed, and trapped shorts.
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Hello oracle,

Thank you for your input.

I know that my risk/reward is not quite optimal at times, so I`m working on that.

On my first trade, I risked 1,5 points and was expecting at least a 1,5 point profit. I moved my stop 2 ticks to a 2 point stop, since it would be a cheap way to stay in the trade if the market my some miracle did reverse.

Then I did actually go long on the simlator as you suggested, but I trailed my stop too close and got out with only a 0,50 point profit.

Oh well...:)
 
EMG,

I don't know why I am replying to you, because I sense you are playing here.

These are Weekly charts for INDU, NYSE & SPX with 200 SMA. Once NYSE clears 200 SMA all indexes are likely to advance towards their upper resistance zones.

vhvjpf.png


2dqj2vs.png


bfoyna.png
 
Quote from emg:

Here is EMG trading advise:

DO NOT FOLLOW THE GAP!

too many people are following the gap.

DO NOT FOLLOW THE PIVOT PT:

too many people are following the pivot pt.

DO NOT FOLLOW THE SMA:

too many people are following the sma


The only indicator u should follow is MATH

create a mathmatic formula.

Math create risk/reward ratio
Math create entry price
More...

Why you no call?

ROR (Raughing Out Roud)

:D
 
I have had the problem myself, I get stubborn with a trade and it sometimes turns into a bigger loss.

I usually don't trail a stop. I only have the AI trail setup for when I do 2 contracts, and only after the 1st one is profitable, does the 2nd get a trail since the market has already moved in my favor and its not a tight trail.

Usually .25 - .50 is noise so I don't see that as a viable trail or worth scalping since you lose on commission.

You need to let go of fear. A way to sometimes do this is if you are like me and sometimes have problems watching the trade after you are in it, then walk away from the computer and go watch TV or take a walk for awhile.

Quote from Laissez Faire:

Hello Rashig_G,

My method as it is evolving does not require a new daily high or low before executing and looking at the charts I`m quite confident that I would have considered a long where you`re describing. Unfortunately, I`m working a full-time job and I trade the US market in the evening (I live in Europe), so I`m usually not able to trade more than the last three hours or so :)

As a result, I miss a lot of opportunities, but I also have very good picture of what has evolved when I start trading.



Hello oracle,

Thank you for your input.

I know that my risk/reward is not quite optimal at times, so I`m working on that.

On my first trade, I risked 1,5 points and was expecting at least a 1,5 point profit. I moved my stop 2 ticks to a 2 point stop, since it would be a cheap way to stay in the trade if the market my some miracle did reverse.

Then I did actually go long on the simlator as you suggested, but I trailed my stop too close and got out with only a 0,50 point profit.

Oh well...:)
More...
 
Quote from JSSPMK:

EMG,

I don't know why I am replying to you, because I sense you are playing here.

These are Weekly charts for INDU, NYSE & SPX with 200 SMA. Once NYSE clears 200 SMA all indexes are likely to advance towards their upper resistance zones.

vhvjpf.png


2dqj2vs.png


bfoyna.png
More...

i think emg is right. Non of the indicators work.
 
Quote from al trader:

i think emg is right. Non of the indicators work.
More...

And I THINK that you're Emg's clone. Does it make it a fact? ;)

An indicator is not a method, strategy or a system.
 
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