ES Journal Archive (2009 - 2010)

[i_c_fed_people]

well, in order to actually 'wipe me out' (consdiering the very small stakes i play with and my account size), the drop would have to be HUGE!!!!!!!
Like DOW 7000!!
Im rolling the dice that we wont see anything like that number ever again. Too much manipulation to the upside IMHO

 

[aquarian1]

Quote from i_c_fed_people:

thanks, although its a hell of a lot more than just them 2 trades!
I've lost count of how many ive posted, but im averaging near 4 points per day for a while now.

Giving myself a very big buffer of profits to use if a very rare big drop happens to go against me!
As it is, i'd need about an 80 point drop without a decent bounce to put a big dent in my profits made so far, and i just cant see that happening, and even if it does, i think i just need to time my entires well for the inevitable bounce. We shall see! lol

Good stuff ic

I've only been on the board recently and on this thread for 2 days so kudos on the earlier trades! Fantastic work on averaging 4 pts per day great stuff.

BTW if you trade 2 contracts for 2pts do you think/mention it as 4pts or as 2 pts?

 

[tortoise]

how many people here think we're gonna crash into christmas?

 

[Pholeuon]

So you are not trading ES future? Because 100k account that can handle such drop in 3 cars ES you obviously do not have.

If you can not lose, you can not win.

 

[i_c_fed_people]

Quote from aquarian1:



BTW if you trade 2 contracts for 2pts do you think/mention it as 4pts or as 2 pts?

Id call that 2 points.

Also, considering that you say you are new, its worth mentioning (being the responsible chap I am) that I am NOT someone who you should look to for advice or anything!
I am a newbie myself and am just trading tiny stakes and trying to grow my account. I don't have too much at risk and im young.
My method totally goes against what you are apparently supposed to do.
Dont trade like me! lol

 

[i_c_fed_people]

Quote from Pholeuon:

So you are not trading ES future? Because 100k account that can handle such drop in 3 cars ES you obviously do not have.

If you can not lose, you can not win.

No Sir! 100k?! that'd be nice....im still a teenager!
I've mentioned a few times now, but ill give you the benefit of the doubt.
I trade using a spreadbetting firm.
I trade at £1 per 'pip'.
If I buy at 1231 and close at 1234 I've made £30 profit.
(3 'points' or 30 'pips' in spreadbet terminology)

 

[i_c_fed_people]

Quote from i_c_fed_people:

moving add on from 1229 to 1225

hmmm, maybe shouldn't have moved it.
1229 was about the low so far.

 

[feng456]

Quote from Pholeuon:

Fed, problem is that you will average against big move at least twice, you shown us that. And if you look at this coil I am sure we will get -30 point day very soon. Than you will refuse take your loss, and during few days we will be - 100 - what will wipe your account if you are trading future. Excuse me, buying tops and averaging in position wiped far greater traders than you. Are you really prepared for stress when
averaged in position will drop in your face?

totally agree...hes doing well now in this bull market. but when (not if) things gets more choppy or more short term bearish, his adding to his positions will catch him overleveraged and it will be a very uncomfortable drawdown for him.

im sure we've all heard stories of people who added to losing position with no stops, only to eventually get wiped out. of course fed wont listen because hes doing well right now and i know when im doing well, i forget about all my previous troubles and wont listen to much advice.

 

[Pholeuon]

10 pounds per point? But this is just 3x less than regular ES contract (50 USD per point)? If DOW will drop 7000 points ES will drop roughly 600 points!
If we will have 100 point correction (and i take any bet that during half year we will have such correction as minimum) you will loose 1000 pounds per contract. Ok, thats fine. But if you will be averaged in that same amount you will loose in 35 points correction - and this happens normally more times during year. Because long time we did not have any it does mean that next will be way bigger and quicker.
Trading ist long run business.

 

[aquarian1]

Quote from i_c_fed_people:

Id call that 2 points.

Also, considering that you say you are new, its worth mentioning (being the responsible chap I am) that I am NOT someone who you should look to for advice or anything!
I am a newbie myself and am just trading tiny stakes and trying to grow my account. I don't have too much at risk and im young.
My method totally goes against what you are apparently supposed to do.
Dont trade like me! lol

Thanks for the disclaimer (being the responsible chap that you are)!

"new" to this board - I've sworn off forums for a while and only post on really slow days (one of my rules I have set for myself). {However, I really should not be posting but doing other stuff -exercising, updating charts etc. ..}

Some of my rules for myself include:
1. Not taking a trade unless I can see 6 pts profit potential (distance points as you also use),
2. Trying to only trade days that are estimated to be 12pts or more.
and from WD Gann:
3. Never try to trade someone else's system

Just trying to stay positive and encourage and congratulate others