I trade 1 ES

Quote from swimmus:

My point is trade what the market is giving you and not what you think it should do!
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This statement is as correct and useful as saying "buy a stock and sell it at a higher price then you make money".

I have a system (whether it's good or not I don't know, that's what I am trying to find out) and it says I should trade with a down bias. Is this not what the market is giving me? :confused:

Either you are talking at too high a level or you are assuming I haven't read 5,000 trading books. :D
 
Quote from swimmus:

I suppose it would have been better not to offer any assitance on your journey!

May you trade well.
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All advices are welcome and subject to discussion. There is nothing personal.

However, we do realize that comments like

Quote from TGregg:


Anyway, just so you know, a random entry between 9:30 and 4:00 (exits when the targets are hit - can be off hours) with a 5 point profit target and a 20 point stop loss with no comissions or slippage produces the following stats over the last 2.5 years on TradeStation:

Total trades: 1200
Winners: 958
Losers: 242
Even Stevens: 0

That's just shy of your 80% (79.83%). It would appear that you don't need much of an edge to push this into profitability. At 81%, you'd probably make about as much as your broker (if you have a very cheap one).

My "random entry" first checks to see if it's normal hours, then if it went long last time it shorts, else it buys. Close the position at +5 points or -20 whichever occurs first. The very first trade is a long.
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and

Quote from bubba7:

Trading the IT on ES03U is always a nice thing when you have a job.

It is running about 4 points a day on the IT trend now (leg 6 of the quarterly channel.)

I'm showing a "long" trend in leg 6 running from the 5th of this month. My closing channel values are 988 and 1003 for a 15 point traverse.

So you and I have only one difference and that is the current trend direction.

My chart is below. Ignore the annotations they are being made on the 5 min version where I monitor.
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and

Quote from TGregg:



It's too bad your stop isn't a tad higher, 1010 is (what I call) an Interesting Number. 1010.75 might be better.
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are more valuable than comments like "don't overtrade" or "trend is your friend".
 
Cannot see leading indicator number but from the market reaction I assume it's good.

Getting close to my stop point. Will honor it and stop somewhere in this area. Prefer not to do it on a day with many economic reports. Friday seems a good day for this.
 
If all you can offer is some rules extracted from the 5,000 trading books, I will not respond. If you post harrasing messages, I will not respond and will ask the moderator to remove your message.

This journal is primarily a record for myself. Secondarily, I would like to attract some intelligent and unique insights, ideas, and experiences for discussion. If no one can offer anything valuable, I wouldn't mind being the only one posting on this thread. Do not waste your time if you don't have anything intelligent to say.
 
What one needs to follow my thread is patience, lots of patience.

What you will not see on this thread is pain and frustration. If the reason you read journals on this board is to find bigger losers so that you feel better for yourself, you can skip my thread. I am trading with a small percentage of my assets, as a result, you will not find what you are looking for.
 
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