ES Journal Archive (2009 - 2010)

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Quote from i_c_fed_people:

My method totally goes against what you are apparently supposed to do.
Dont trade like me! lol
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Pride goeth before fall :)

Considering that you are new to this, at least consider the possibility that you are on a lucky streak. Your method clearly works in a market that is drifting upwards, but that does not last forever.

Your bias about the market being manipulated to the upside and only being willing to go long, might come back and bite you sooner than you think.

I was once cocky and young like you in the markets and I lost 70% of my account because I did not adjust to new market conditions after a long winning streak. After stop lossing myself for a while I then went on to lose the rest of it as well :)

Just a cautionary tale and friendly advice :)
 
Quote from i_c_fed_people:

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)
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So basically you're trading in units that are about 1/3 ES car (10 GBP per ES point --> 15-6 USD) with a 10,000-ish GBP account (or 15,000-ish USD); this would be roughly equivalent to trading with 1 car positions on a 50,000 USD account.

I think most people on the board (myself included until you explained it some time ago) think you're way more leveraged (which doesn't necessarily make your strategy right, but it's a completely different ball game) - like at least 5 times more leveraged.
 
Quote from i_c_fed_people:

moving add on from 1229 to 1225
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your original add on call was great. you picked the exact bottom in advance.
You could be closing it here for another +5 to add to your tally.
I reckon you got scared out of it by the bears in here!
 
If you have 10 K pound account you are nearly not leveraged with your "1 contract" . Than forget everything what I wrote, you can overlive any imaginable dip. Just may be you will need 1-2 years to get breakeven, but do not worry, you will get it.
 
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