Frosty's e-mini journal

Quote from boro45:

I guess you're right.

I just cannot fathom putting on a position and then walking away from my computer for several minutes without having stops in place.

Just boggles the mind. My mind anyway.
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Are you sure he is walking away from the computer. I get this picture in my mind of him white as ghost with hand on the mouse scared to pull the trigger.

GL, Frost these are days that really pucker up the butt cheeks.
 
4re,

I've had many days where I just freeze up and dont pull the trigger... I am getting better though, I can feel it.... Those days are not behind me, but that is one demon I am starting to learn how to fight... In this situation I actually did walk away....

Update: Now up to +$106, sitll too many trades, but its just too slow to really catch any big moves. Happy with my performance thus far.
 
Quote from frostengine:

4re,

I've had many days where I just freeze up and dont pull the trigger... I am getting better though, I can feel it.... Those days are not behind me, but that is one demon I am starting to learn how to fight... In this situation I actually did walk away....

Update: Now up to +$106, sitll too many trades, but its just too slow to really catch any big moves. Happy with my performance thus far.
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Don't worry, everybody who says they haven't frozen is lying.
I'll tell you about my worst one. I had built my account from 5K to a little over 20K in 4 weeks. I entered a short trade and it went my way .50 ES. Then it suddenly reversed and shot up. I froze up so bad by the time I got out of that trade I had 2,200 left in my account.

Happens to us all I guess.
 
To each his own, Frosty. Didn't mean to have a condescending tone to my last post.

It's just that I have traded without stops before and can't imagine myself trading without them now.
 
Quote from frostengine:

boro,

There are several things that led up to me opening a position and not entering the stops. I work full time during the day while day trading, which if you see my P/L you know why I need to work ;) So there are rare occasions where somethign comes up at work where I need to walk away from the computer briefly. This was one of those times. In any event I need to be quicker at entering a stop to help protect myself from those situations.
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Oh OK, that explains a lot.

You need to do a couple a things.

a) get a nite job, I used to watch charts at work (but I didn't trade), finally I got a nite job (and after about three years) I'm producing consistent results.

b) get a software that will enter your price target (assuming you have one) and your protective stop when you enter a trade. Ninja Trader is one, I'm sure there are plenty more.

Boro45 is right, what you did is inexcusable for traders and one day you're going to find yourself working to pay-off your margin call if you keep it up.

c) change your timeframe (or whatever it is you use to enter trades) so that you have less entry signals (you do have entry signals, right?) that give you a higher probability of a successful trade. Ideally your profit target(s) - assuming you're using those things - should give you at least 1:2 if not 1:3 risk:reward.

Doing any OR all of the above should help your medium-to-long term results immeasureably.

Not that you'll follow any of it.

Later,

JJ
 
mymini,

I know I saw that.. my problem is the day was going so slow, and there was no follow through, so I started fading entires I would normally take.... needless to say I took a short right there, I knew I should have went long... :( thats what I get for fading the signals
 
Quote from frostengine:

mymini,

I know I saw that.. my problem is the day was going so slow, and there was no follow through, so I started fading entires I would normally take.... needless to say I took a short right there, I knew I should have went long... :( thats what I get for fading the signals
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It pays to follow the plan. Nail it when you get those awesome signals.
 

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