ES Journal Archive (2011)

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Quote from Mins:

So where is you equity curve i asked for HAHA - just as i thought pure bollocks.

I can smell the bullsh**t from a piker a mile away.

Post the curve you big swinging dick.
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Quote from Mins:

i wont waste anymore energy on you.
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I knew you would waste at least for this scalp. See ammo?. This is the exit. The entry was above. Check the timestamp!. You gotta get inside your opponent's head. After that it's easy. :)
 
Quote from JSHINV:

I agree with the stops and target - maybe even wider at times. You place you stops to tight on the ES like 2-3 points, its a death of a thousand cuts.
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Well 7 cuts is quite a bit of bad calls and that pretty much is equivalent to the size of my stop, around 20.

The key here are the winners, if you can hold them.

FoN
 
Quote from spike500:

The stupidity of your answers reflect your intelligence.

You probably are a professional with 17 years of experience but in what? Surely not in trading.
If i where you i would not show but hide those incredible profitable trades.
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Another scalp. See ammo how easy it is?. They'll be foked up in the head for days. Just like when I take their stops with my limits. :)

And when I have a moderate amount, like now, I quit and they are left wanting me to come back, but I don't... Till the next day. Lol.
 
Quote from eudaemon:

I knew you would waste at least for this scalp. See ammo?. This is the exit. The entry was above. Check the timestamp!. You gotta get inside your opponent's head. After that it's easy. :)
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Lol good one - you are winning at teh internet :)

You got the scalp but i hit the home run - you got exposed with your pants down in your momma's basement.

Post your equity curve big boy - i think this will be ignored by you time and time again haha.
 
Quote from Zr1Trader:

Question,

What if you are only at the very start of building your position and price doesn't go any lower or trade in that range. You risk missing out on the move with your intended size right. How many times would you say this happens out of 10?

Personally I won't average down unless I run into liquidity issues trading at one price. Everyone has their own way and I respect that.
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I see the merits of adding on the way up or down. 1st buy/sell at x, 2nd buy/sell at x +/- 2pts on a higher/lower retest but why would you hold through a break of your entry?

Also if a trade keeps hammering at your entry price eventually it will fail. Why keep adding at that price unless you're scalping your way to gain room on your stop?

I can see averaging into a "position" if you are a trader with millions and billions but for a piker like me it makes no sense.
 
Quote from Mins:

The way i work is in 4 units. My first unit is always at my buy zone. If the price on daily just sits there and we simply get a range then you wait. I have unit 2 waiting at my second buy zone.

If market takes of without you and you get your bullish confirmation. then i will add unit 2 - obviously i am paying higher price but for someone who has longer time horizon its not really that big a deal.

However, usually with my swing trading i rarely add unit 3 until i get really high probability of confirmation - i like adding to winners

You have to remember i am not looking to gain 1% range of the market - my trades are always positioned with the intention to get the decent % of weekly or monthly range- often the market is very volatile and i don't need to be in the trade very long while gaining significant % of the weekly range.

To answer your original question, if price just sits then i sit. If market is volatile then i will play with unit 3 on another buy level which was well below my original entry prices for unit 1 and 2.

In the last 3 years i have only used unit 4 only 5 times. Its rare for me but has happened in very volatile market environment. To me volatility is key to my trading and how i build a position.

I never have less than 2 units on any winning trade as 2nd add will always be on confirmation or as averaged in.

I don't trade against the trend on the daily charts - i am purely a trend follower. I will keep going in direction of trend until i have been proven wrong.

Also, i always have my stop zone or where my trade will be invalidated.

With swing trading you don't have to be perfect with your entry every time like day trading - i might be on the go taking care of my other business when i get confirmation at the end of day and will add at suitable time. You don't have to be hands on 24/7 with my type of swing trading.
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Very good , thank you for taking the time to explain.

Some might have thought that you only avg down but it makes sense you avg if market moves in your favor also.


I'm an intraday guy.
Personally for me If i have indication of....

Ranging market- all in all out .
Trending mkt -all in, scale out , last unit as runner .

Usually never have to avg due to liquidity because I'm not Mr. Big yet.


I have other rules and nuances but that's the gist of it.:)
 
Horses for courses. I'd rather bite the bullet, take the hit, clear my head and reposition.
I understand other traders operations preferring to average into a position.

No right or wrong.
 
Quote from FreakofNature:

Well 7 cuts is quite a bit of bad calls and that pretty much is equivalent to the size of my stop, around 20.

The key here are the winners, if you can hold them.

FoN
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For a 20 point range, I would venture a guess that your 20 point stop is not equivalent to a 21(rounded up)/3 point stop. There would probably be well over 7 trades for traders that are using 2-3 point stops within a 20 point range. So your 20 point stop probably is less risk than people trading 2-3 point stops within that range.

I agree, hold on to the winners until the target is the key. This is even harder than finding an edge. This is the one discipline I need to perfect and work on - sit on my hands.
 
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