First foray in trading ES

B

BeatingtheSP500

I had to take my mind off watching the rest of my portfolio fall apart so I started day-trading the ES today. Been contemplating it for a while though.

5 trades:

+5.0
+1.5
+1.25
+1.75
+1.75

Just a small pain ease though.

It seems there is a concerted effort to short the S&P futures - Islamic fundamentalists perhaps? Terrorism?
 
I think I got lucky by not trying to manage 'mean reversion' during the last 30 minutes (300pt dow selloff). I'm going to continue with it next week, and I KNOW I will have to accept losing trades (and not letting a small loser turn into a big one). I think I am aiming for small profits on the winners, a little larger losses on the losers, but a high win percentage.

Perhaps 75% win 1.75
and 25% lose 3.25

(though I'm sure I'll have -20 loser lol)

Time will tell.

Any comments appreciated.
 
Mean reversion, as far as I know, is a counter-trend strategy .... those have's been dangerous to me since that's trying to pick tops and bottoms. Been burned too many times doing that.

I'm a trend trader, but when the price 'reverts' or retraces to a set point, I may re-enter a trend trade rather than reverse the current trend to ride a short intra-trend movement.

Just my 2 cents. :)
 
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