lilduckling's journal of YM

I'm rooting for you.I'm just about to restart trading and 'this time' it will be different.Method and total honesty to prevent self delusion.

How much did you lose on the swing trade?
 
Another good day!! Did 2 trades, the second one was perfect timing....

The first one was a short. I thought for sure i was gonna get stopped out.... but as the YM kept going higher and higher closing in on my stop... i noticed it was at an extreme TICK reading... so, i figured that that was the reversal... and that i was just a little too early .... and i was right, the trade worked out anyways. The first trade is an example of what would've happened had i used a tight stop, like i used on stocks... it would have ended up a loser instead!

1st trade: Short
In on 10:08.... @ 10742
out 11:06.... @ 10721
Net P/L .......... +21 pts

2nd trade: Long
In on 1:56 .... @ 10742
out 2:01 .... @ 10760
Net P/L ............ +18 pts

Total ...................... +39 pts


I tried to be robotic like yesterday... and was out for the rest of the day after my 2nd trade.... made my quota for the day plus some! Not good to go back to the well after daily goal is met.
 
Nice Lilduckling!!! I too got neutered on Friday. Made me sick to my stomach that night.:) Back in the saddle again too. Best of luck to ya....
 
I luv gaps... but went to the well a little to early today for the gap play... so i just sat on my hands and looked carefully at my control panel till the time was right... and it went OK.
Number of trades 3:

Short:
In on 9:37...@ 10750
out 10:03...@ 10780
Net:.............. -30 pts

Short:
In on 10:08...@ 10766
Out 10:23... @ 10726
Net:.............. +40 pts

Short:
In on 2:30...@ 10720
out 2:49....@ 10706
Net:.............. +14 pts

Total Net........... +24 pts


I know you guys are laughing at my measly points that i muster up... but im not trying to get alot of points.... my play is only to get 20-30 a day.

I know that aint alot but.... if i can pull them in consistently... than all i gotta do is crank up the contracts a little!!
Believe it or not.... just 20 points per day can be good... its awesome for me!
:)
 
I agree with your approach. My daily goal is 2 ES points then I’m done for the day (which is generally accomplished by 1100 EST). I prefer to be consistent and increase contracts overtime to make more money. More importantly it helps me to better manage stress. Trading all day, five days out of the week, use to wear me out mentally and physically.
 
Quote from lilduckling:


I know you guys are laughing at my measly points that i muster up... but im not trying to get alot of points.... my play is only to get 20-30 a day.

I know that aint alot but.... if i can pull them in consistently... than all i gotta do is crank up the contracts a little!!
Believe it or not.... just 20 points per day can be good... its awesome for me!
:)
More...

Nobody's laughing. Hell, I'm cheering! And even if "they" are laughing, who cares, your're doing the right thing, for you. That's where the success really is.

Now for the cold water... cranking up the contracts may not be the holy grail.

Myself, I get uneasy trading 5+ YM in my style... each tick being worth $25 or more... :eek: 100$ PnL in 4 ticks or less. :eek: :eek:

There is a current thread in ET titled "How to deal with the fear of getting into positions" here's the link (i think)... http://www.elitetrader.com/vb/showthread.php?threadid=62770
Might be an interesting read, at your leisure.

No matter, keep up the great work. :cool:

Osorico
 
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