Add 1 short 67.50
Average now - 64.37
Same stop
ES Journal Archive (2011)
- Thread starter Buy1Sell2
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- Status
Add 1 short 67.50
Average now - 64.37
Same stop
Move stop to 74.25
That was too close for comfort. It is popping all over the place.
They got me today on superb volatility.
+19.75 on balance
Did best I could, overall Over 80 points this week.
Nothing close to what the professionals do in this channel but I'm content with the result and August is very much green.
Enjoy the weekend everyone and for those in the east coast best wishes to you and your loved ones.
Thanks again for the commentary Volente and others, very helpful.
FoN
It has come to my attention that my postings here are not appreciated by certain individuals and I have been accused of plagiarism as well, so I think it`s time for a break at this point. I already spend too much time here (addiction) and was planning a break already so that I could get other stuff done, but this last one pushed me over the edge.
I racked up a few points today as well, but I got rewarded for bad behaviour at a point and I took that as my cue to call it a day. Most of my entries are quickly in the green and I do not have a problem cutting my losses on those or reducing risk for a small loss and getting back in later. My problem arise when I chase price, get filled and have the market reverse against me immediately. That`s when I have trouble taking my losses. That happened today and I ended up using a 6 point stop at a point. I could swear that another person took control of my body. I even considered averaging down, but then I heard eudaemon at the back of my head
I did however see that technically, 6 points was outside the noise and that I had a decent shot at getting my target. Normally, I would prefer to take the 2 point loss and then get in at a lower/higher price and make up for my mistake with increased profits if I still believed in the initial trade, but realized that my execution was flawed on the initial entry. I got a favourable outcome on that trade and that`s what I meant by getting rewarded for bad behavior. A winning trade is not necessarily a good trade.
I do experience at times that my urge to trade and get in on the action is strong and that is something I should fear greatly. It usually happens when I`m not well prepared by the open and today was a tough day as well with the spikes and the volatility. I did however end the week at peak equity levels, so I`m not depressed yet. If I can improve and control my disciplinary issues, I think I will get along fine with the ES in the days to come.
End of transmission
I racked up a few points today as well, but I got rewarded for bad behaviour at a point and I took that as my cue to call it a day. Most of my entries are quickly in the green and I do not have a problem cutting my losses on those or reducing risk for a small loss and getting back in later. My problem arise when I chase price, get filled and have the market reverse against me immediately. That`s when I have trouble taking my losses. That happened today and I ended up using a 6 point stop at a point. I could swear that another person took control of my body. I even considered averaging down, but then I heard eudaemon at the back of my head
I did however see that technically, 6 points was outside the noise and that I had a decent shot at getting my target. Normally, I would prefer to take the 2 point loss and then get in at a lower/higher price and make up for my mistake with increased profits if I still believed in the initial trade, but realized that my execution was flawed on the initial entry. I got a favourable outcome on that trade and that`s what I meant by getting rewarded for bad behavior. A winning trade is not necessarily a good trade.I do experience at times that my urge to trade and get in on the action is strong and that is something I should fear greatly. It usually happens when I`m not well prepared by the open and today was a tough day as well with the spikes and the volatility. I did however end the week at peak equity levels, so I`m not depressed yet. If I can improve and control my disciplinary issues, I think I will get along fine with the ES in the days to come.
End of transmission
1176 to 1177 tagged.
Above we get an up week. Below we get a down week.
Whales fighting here now.
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