ES Journal Archive (2011)

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Quote from Hooti:

I think I see what you and Ammo are saying...
When you are new to the whole thing, which I am, perhaps trading small and live helps you figure out the psychology part.

when you've worked your way past that, then papertrading is an obvious way to learn new things. One doesn't need to repeat the psychology part, or lose money in the process. Thanks
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I do think that long-term paper trading may be detrimental, but it is still the place to start out, IMO.

If one find oneself consistently losing in the simulator, one should either backwards engineer one`s strategy or spend more time backtesting historical data either manually or mechanically. :)
 
Quote from Laissez Faire:

I do think that long-term paper trading may be detrimental, but it is still the place to start out, IMO.

If one find oneself consistently losing in the simulator, one should either backwards engineer one`s strategy or spend more time backtesting historical data either manually or mechanically. :)
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Thinking that because you're profitable with a demo account you will be profitable live is a mistake, because trading live the psychological aspects of trading kick in big time.

Not realizing that you can save yourself a lot of pain and money by making a number of newbie mistakes in a safe (demo) environment is, imo, another mistake.

Yes, fighting in a war is completely different than recreating fighting in some military maneuvers, but when you join the army they don't tell you that since shooting at a bulls-eye and at a human being are completely different, you should skip the training and go straight into battle right after getting a haircut and a uniform.

My EUR 0.02
 
Quote from Laissez Faire:


What I and others were remarking is that you obviously are in the strategy development phase and getting a feel for this new market, implementating new tools during the trading day, finding your way, etc. It does not make sense to risk cash during such a period, even if you`ve been very successful in FX.

Personally, I learned to treat simulator trading very seriously and even experienced fear during that phase. Why? Because I had a plan that I was working with. For example, daily consistency with low drawdowns over a 4 week period.

I knew that if I messed up and did not meet my goals, I would not be allowed to trade real money. Thus, in a sense, it was very real to me.
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Thanks for your detailed comments. One final question for the day - this one is related to your personal trading. What % of days are you profitable in your real trading - lets say over the last 3 month period? I am assuming you are daytrading only ES. From your posts, it seems you are successful trading ES. Just trying to see how much success folks are able to find daytrading ES.

Personally, I have never achieved profitability on more than 50% days, I try to keep my wins larger though.
 
Quote from Macho:

Tonights/tomorrow numbers are topside 113175 and lowside 120150.

Bond selling still the key.
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Sorry about the typo .It should have been 123175.Anyway it missed the top by 4 ticks, but went through the low side .And that is important. It does not matter how much provided it gets through either the topside or bottom side that would yield a profit.

I have said before that I can't trade these ranges.I don't have the right size account to apply the strategy that I developed.

BUT, by sheer chance ,I have found a way that I can trade the ranges without the same capital I needed. It will mean probable more losses (stops) but a lot less that the current strategy,which has stop loss factor of 2.5% on current results.

I hope that makes some sense to you.

If I am wrong tonight I stand to lose $600 plus commisions. They are broken up over 3 trades. My biggest hang up is that I have to quit some time tonight .I have school all day Tuesdays and Thurdays.

I think it works out well because it breaks up my week and I have a life.

I will post my opening trade when it happens and we can see where it goes from there.
 
I forgot to give tonights/tomorrow's range .Topside 120350 . Bottom side 117300.

Edit; I will quit my trade at 3 or 4 am ,if I am alive. So it is a bit of a gamble,but it is only 1 contract.
 
Quote from Macho:

I forgot to give tonights/tomorrow's range .Topside 120350 . Bottom side 117300.

Edit; I will quit my trade at 3 or 4 am ,if I am alive. So it is a bit of a gamble,but it is only 1 contract.
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Just sold 119050 My stop is 119450 at the moment.Target 117300.
 
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