ES Journal Archive (2011)

[Laissez Faire]

Quote from eudaemon:

I understand what you say, but then my risk is double or triple. What happened to your suggestions in yesterday's trades for instance?. You waited for confirmation and then bought too late and sold too late. I prefer taking the risk at the line and bailing out if it doesn't work inmediately, but thanks for your insights. If I could elliminate all my losers, I would also elliminate my winners.

Not entirely true. You can still enter with a 1-point stop after getting confirmation, if you wait for a retracement. Breakouts usually retrace.

The points you lose in execution should be made up for by a higher win percentage.

That said, a 1-point stop is extremely tight. 1,5-2,0 points may forgive you for less than excellent execution.

In the end, it`s a matter of style and preference.

Yesterday was not the best example as the range was extremely small. I did eventually execute on the right side, my problem was that I did not take profit at obvious support. I was probably influenced by my last trade and tried to get back what I lost and then some. Completely irrational and losing behavior

 

[ammo]

whats your gekko target pek

 

[wiesman02]

neither direction really is all that convincing right now. I might call it quits for the day. Long looks more likely, but I'm having a hard time getting a handle on this price action :/

 

[ammo]

Quote from Laissez Faire:

Completely irrational and losing behavior

"The mind is it's own place. It can make a hell out of heaven,and a heaven out of hell."

 

[eudaemon]

Quote from Laissez Faire:

Not entirely true. You can still enter with a 1-point stop after getting confirmation, if you wait for a retracement. Breakouts usually retrace.

The points you lose in execution should be made up for by a higher win percentage.

That said, a 1-point stop is extremely tight. 1,5-2,0 points may forgive you for less than excellent execution.

In the end, it`s a matter of style and preference.

Yesterday was not the best example as the range was extremely small. I did eventually execute on the right side, my problem was that I did not take profit at obvious support. I was probably influenced by my last trade and tried to get back what I lost and then some. Completely irrational and losing behavior

I suggest you prove it to yourself: Try entering on extreme tick readings, since you are already using that indicator, instead of 5 minutes after when the tick has backed off from the extreme, and do it for a while, and see if your bottom line improves.

 

[noaveragingdown]

Target reached.

+10.50 on buys below 93

+9 on 94 add

Thank you A, love you man.

NAD

 

[i_c_fed_people]

Quote from noaveragingdown:

Target reached.

+10.50 on buys below 93

+9 on 94 add

Thank you A, love you man.

NAD

Nice.
I LOVE the ES!!!!!

 

[Now is Now]

Quote from Laissez Faire:

[B
. I was probably influenced by my last trade and tried to get back what I lost and then some. Completely irrational and losing behavior [/B]

I can see you are trying extremely hard and you may be still a bit nervous....that said, if I could offer you one little bit of advice...

FORGET about LAST TRADE...it happened ;it is over and not a thing in the world will change it...

Focus on what it is you see in front of you and make your best judgement....the only person you have to answer to is yourself..

Good luck/trading

NiN

 

[eudaemon]

Great trading NAD.:eek:

 

[Laissez Faire]

Quote from Now is Now:

I can see you are trying extremely hard and you may be still a bit nervous....that said, if I could offer you one little bit of advice...

FORGET about LAST TRADE...it happened ;it is over and not a thing in the world will change it...

Focus on what it is you see in front of you and make your best judgement....the only person you have to answer to is yourself..

Good luck/trading

NiN

I`m painfully aware of this and have improved immensely, but it still sticks.

I have however improved greatly since I started focusing on weekly benchmarks/targets as opposed to daily goals.

Thanks NiN.

Same to you