Grinding it out, day after day

Great work ethic, humble, somewhat of mind for numbers, a strong interest in trading, rational thinker, able to keep a positive attitude and stay focused in the face of adversity, open minded, disciplined.
 
Quote from lescor:

Great work ethic, humble, somewhat of mind for numbers, a strong interest in trading, rational thinker, able to keep a positive attitude and stay focused in the face of adversity, open minded, disciplined.
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Excellent list.
 
I've been having success with a RTM basket strategy. However, sometimes scaling-in (avg down) could save you from a loss, and other times it could absolutely bury you... I lost about 2 wks worth of gains in one day today due to scaling-in (averaging down). The irony is that when I initially began scaling into my positions, it brought me from deep in the red to slightly in the black... but I held on too long. Shortly after getting slightly positive, my baset of positions turned and went DEEP in the red. At that point, I accepted my mistake and booked the losses.

The lesson learned... it's better to take a modest loss, than trying to hold on for a win every time.
 
+8900 gross for the week, 519,000 shares traded. Daily p/l +13, +2, -2, 0, -4

Monday was great, had a lot of longs for the nice rally we had. The rest of the week pretty much sucked. Still trading the first hour or so then not much after that. Implemented a new strategy this week that lost money every day, figures. Not much going on today but I seemed to be on the wrong side in almost everything.
 
Lescor,

Despite the losses during the latter part of the week, the good thing is that you know how to manage your losses and keep them to a minimum. As a result, your gains this week are still better than most traders experience in more than a month...

Walt
 
Lescor, I understand that you do not trade ES on daily basis. However, since you are in the business, what do you think would work when tackling the ES? How would you approach the futures if you had to make it a go? How do the big boys do it? What in your opinion is the missing link to profitsbility in the ES?



Throw as a bone! :D :D
 
I would trade it on a longer time frame just using basic TA. When I do trade ES, I'm usually holding it for days or weeks, occasionally for most of the day. I don't scalp it all that much.
 
Quote from lescor:

+8900 gross for the week, 519,000 shares traded. Daily p/l +13, +2, -2, 0, -4

Monday was great, had a lot of longs for the nice rally we had. The rest of the week pretty much sucked. Still trading the first hour or so then not much after that. Implemented a new strategy this week that lost money every day, figures. Not much going on today but I seemed to be on the wrong side in almost everything.
More...

Hi Lescor, roughly what % of winning days do you have? Do a minority of your trading days make the bulk of the profits, and if so, is there anything you've identified about those days in particular that makes them more profitable?
 
Lescor, before you open a position following one of your RTM strategies, do you examine and pay any attention to the longer term trend of the stock?

Would you only enter in the direction of that long term trend if it existed? Or would you enter only in the absence of the main trend?

Do you think that direction of the long term trend is important in RTM strategies at all?

Thanks.
 
Quote from lescor:

I would trade it on a longer time frame just using basic TA. When I do trade ES, I'm usually holding it for days or weeks, occasionally for most of the day. I don't scalp it all that much.
More...

Not trying to beat these futures questions to death BUT

have you ever added Oil or currency futures to your strategies. I would think they behave more like an individual stock since they are not an index like the ES.
 
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