Has this Market been bad for Everyone
- Thread starter Flashboy
- Start date
Today was pretty f*cked up overall. I lost small cash today, but $hit happens. I actually put on a pretty good trade on the YM this morning on the short-side, but got stopped out and then it dropped 45 points. Need to work on a good stop-loss which will keep in the good trades, and get me out of the bad ones without too much damage.
-FastTrader
-FastTrader
Today was an amazingly mad day on the ES. 
First, in the morning I was up ~4.25 pts happily scalping amateur hour swings, then gave back 3pts after 10:06. Looking at a wasted day I kept trading through lunchtime to do some nice CCI trades, slingshots, etc. It was good, there were some great opps.
Then I was up to almost 4 pts again.
Eventually, I gave back 2.75 again and ended up with a 1.25pt net for a whole day. *Bitchslapping myself*
I have a rule that says once I've exceeded 2pts profit for once, I won't risk a below breakeven for the day anymore. If thereafter, I lose enough to be just over breakeven again, I just say "stop". This isn't the day. Come back tomorrow.
Don't let too many profits go once you have some. Tomorrow will always be a very different trading environment.
On the other hand, you can just choose not to follow such a rule, or to make lots of points, then lose them all again and tell everybody on ET how great you were in the morning and what a lamer you are at the end of the day.
I hope you people all did better than me. I heard people trading stocks did very well today. Nasty, those futures lately.
All the best brothers,
~The Scientist
First, in the morning I was up ~4.25 pts happily scalping amateur hour swings, then gave back 3pts after 10:06. Looking at a wasted day I kept trading through lunchtime to do some nice CCI trades, slingshots, etc. It was good, there were some great opps.
Then I was up to almost 4 pts again.
Eventually, I gave back 2.75 again and ended up with a 1.25pt net for a whole day. *Bitchslapping myself*
I have a rule that says once I've exceeded 2pts profit for once, I won't risk a below breakeven for the day anymore. If thereafter, I lose enough to be just over breakeven again, I just say "stop". This isn't the day. Come back tomorrow.
Don't let too many profits go once you have some. Tomorrow will always be a very different trading environment.
On the other hand, you can just choose not to follow such a rule, or to make lots of points, then lose them all again and tell everybody on ET how great you were in the morning and what a lamer you are at the end of the day.
I hope you people all did better than me. I heard people trading stocks did very well today. Nasty, those futures lately.
All the best brothers,
~The Scientist
It's all about having as close as possible a stop while avoiding volatility ranges. The problem is that the pro's know all this, too, so you can still fall for it. It's a cross we all have to carry.Quote from Fast_Trader:
Today was pretty f*cked up overall. I lost small cash today, but $hit happens. I actually put on a pretty good trade on the YM this morning on the short-side, but got stopped out and then it dropped 45 points. Need to work on a good stop-loss which will keep in the good trades, and get me out of the bad ones without too much damage.
-FastTrader
Backtest. Experiment with ATR (average true range)!
All the Best,
~Scientist
how many posts do you make a day? 20? you only started posting like 2 months ago.Quote from Scientist:
Have a look at this, folks!
This is FTDTD II.
In fond memories of all those who dared the beast.
~Scientist