FastTrader Futures-Trading Journal

EMini-Player · Nov 28, 2003

Michael, it appears you're concerned about a equipment/technical failure where my stop/target would not be executed. I would recommend using native orders to prevent this from happening. Also, I would not hold very large size on ESTX50 if I was planning on sleeping on the trade...maybe a 10-lot at most. I would like to note that this was the first time I put on a trade and left the computer. Normally, I trade short-term and am in/out in a few minutes. But ESTX50 is too slow for me to watch.

-Fast

BigPunkin · Nov 29, 2003

Glad to see you back online posting. Do you ever trade the DAX as well as ES? I try to trade DAX early in the morn (CST) 3-5 days per week as well as ES. Do better on ES but am learning on DAX

EMini-Player · Nov 29, 2003

Thanks Punkin. Good to be back

To be honest, I'm a little afraid of the DAX and psychologically, I find it a bit more intense than the other indices since it moves so fast. I have traded the DAX and ES and my system works well with both. I just have to adjust myself to trade it. I won't be trading the European indices much going forward since Eurex opens at 2 AM central time. I see a lot of opportunity trading the DAX; even on small size like 2-4 contracts. But for now, I will be focusing mostly on ES with a trade in NQ or ESTX50 here and there.

-Fast

Scientist · Nov 29, 2003

Quote from Fast_Trader:

Michael, depends on how disciplined you are and how much patience you have. I don't have the patience to sit through a trade for an hour, so this is the best way for me to get a good Risk/Reward ratio on my ESTX50 trades. For example, this trade had a R:R of a little over 1:3 and I'd like to maintain that on ESTX50, and this is the only way I can do it. If my system is correct even 50% of the time, I will come out ahead by doing this.

-Fast

Makes perfect sense. It's just like holding overnight, only that you pre-empt the night a little by falling asleep earlier in the day.

How about calling this : "Nocto-preemptive ultra-short-term-day-swing-position trading"?

Fast, that's da name for ya own guru site: noctopreemptiveultrashorttermdayswingpositiontrading.com

Beats the crap out of "WizeTrade" anyday. Amen!

EMini-Player · Dec 1, 2003

December 1st (Monday)

Total trades: 2 (All Shorts) 1 Winner, 1 Loser

8:59 AM - Short 1 ES 1063.50
9:01 AM - Cover 1 ES 1066.00
Result: -2.5
Notes: My stop was actually at 1064.50 but price blew right through it and I got a really bad fill. I deserved it though since I forgot to check for economic news this morning and wasn't aware of the numbers being released at 9:00 AM. Had I bothered to check for news, I would have stayed out until after 9 AM.

9:21 AM - Short 1 ES 1066.00
9:54 AM - Cover 1 ES 1064.00
Result: +2.00
Notes: Entry was a bit sloppy. I should've gotten in at 1067.00 but like I've said before, when I start the day with a loss, it totally screws up my trading. This is a psychological issue I have to work on.

Overall:
ES: -0.50

Ditch · Dec 1, 2003

Quote from Fast_Trader:

December 1st (Monday)

Notes: Entry was a bit sloppy. I should've gotten in at 1067.00 but like I've said before, when I start the day with a loss, it totally screws up my trading. This is a psychological issue I have to work on.

Overall:
ES: -0.50

Is this the same guy, that calls trading 4-5 lots on the Dax "small size"?

DblArrow · Dec 1, 2003

Quote from Fast_Trader:

December 1st (Monday)

Total trades: 2 (All Shorts) 1 Winner, 1 Loser

8:59 AM - Short 1 ES 1063.50
9:01 AM - Cover 1 ES 1066.00
Result: -2.5
Notes: My stop was actually at 1064.50 but price blew right through it and I got a really bad fill. I deserved it though since I forgot to check for economic news this morning and wasn't aware of the numbers being released at 9:00 AM. Had I bothered to check for news, I would have stayed out until after 9 AM.

9:21 AM - Short 1 ES 1066.00
9:54 AM - Cover 1 ES 1064.00
Result: +2.00
Notes: Entry was a bit sloppy. I should've gotten in at 1067.00 but like I've said before, when I start the day with a loss, it totally screws up my trading. This is a psychological issue I have to work on.

Overall:
ES: -0.50

Is it at this point that a guy can point out your post in Awash's Journal????

Make 'em pretty, Chris

EMini-Player · Dec 1, 2003

Quote from Ditch:

Is this the same guy, that calls trading 4-5 lots on the Dax "small size"?

It doesn't have to do with the cash lost...I could care less about the cash. Trading is like a very competitive game to me; and losing is losing.

-Fast

EMini-Player · Dec 1, 2003

Quote from DblArrow:

Is it at this point that a guy can point out your post in Awash's Journal????

Make 'em pretty, Chris

Sure. Not like I was flaming Awash; I used to post in the same room as him and we are on good terms. Plus, I know he's good. You can't really compare my trading with him since I'm trading only the first 30-60 minutes; whereas he trades full-time. Two totally different situations.

-Fast

Ditch · Dec 2, 2003

Quote from Fast_Trader:

It doesn't have to do with the cash lost...I could care less about the cash. Trading is like a very competitive game to me; and losing is losing.

-Fast

Do you chicken out in other games this fast as well?