ES Journal Archive (2011)
- Thread starter Buy1Sell2
- Start date
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1240 traded out before the close but didn't hold. I took profits at 39 even. 6 points with 0.5 point heat.
What loss? I have posted 7 live calls on Elite this week. Two on ES, three on CL, one on ZC and one on HO. All were correct. No trades moved against me for any significant depth of price or period of time.
I posted this long call to prove a point about the short side preference which has developed on this thread, with 4 traders calling shorts ahead of the rally beginning at 15.22 (where I bought) and other traders calling short into the rally beginning at 12.37 (which topped out 13 full points higher).
Quote from Picaso:
Bitch days like these do that to you/us, particularly after being spoiled with trend day after trend day
There are no bitch days. This market provides the opportunity to make a day trading profit every day. Now there may be bitch trades made by bitch traders, but this is an issue with the individual trader doing the wrong thing and not with the market.
Since you've been abusive to me and have "bitch days" I suspect you are a frustrated loser who is going nowhere - I don't need to worry about hurting your feelings since you have placed me on ignore. As a consequence you will have missed out on the last seven real time signals I gave in four markets, each time showing an imminent "trend" reversal where late and inexperienced traders such as yourself consistently take the wrong side. So sweet
Todays summary
Largest losing trade was 6.5 points, had I eliminated that it wouldn't have been such a bad day. Was down 8 points initially after first hour, came back to +2 points from there. So, net net bad, but still ok.
Takeaway for today: I will avoid trading first half hour/ first hour unless i am expecting something very clear from the open. It feels like I do better in the middle portion of the day once the session has traded for around 2-3 hours or so.
Trades 30
Wins 17
Av Win 1.12
Av Loss 2.01
PF 0.72
Comm 2.41
Gross PL -7.25
Net PL -9.66
Largest losing trade was 6.5 points, had I eliminated that it wouldn't have been such a bad day. Was down 8 points initially after first hour, came back to +2 points from there. So, net net bad, but still ok.
Takeaway for today: I will avoid trading first half hour/ first hour unless i am expecting something very clear from the open. It feels like I do better in the middle portion of the day once the session has traded for around 2-3 hours or so.
Trades 30
Wins 17
Av Win 1.12
Av Loss 2.01
PF 0.72
Comm 2.41
Gross PL -7.25
Net PL -9.66
The way i am going to take it forward is that i am going to try to hit singles, 1-2-3 pointers, and not focussing on hitting homeruns like 6-10 pointers, for the next month or so. If i see some very clear opportunity then yes i will try to get a larger number. Reason being i will be subjected to lower drawdown, if my winning % is high, in case of smaller wins and losses, as I am quick in cutting my losses when my aim is 1-2 pointers, but am willing to let my losses run while aiming for 8-10 pointers.
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