Matcha's Dow E-mini Journal

Quote from Snowman75:

You guys can't be serious. YM over ES. No way. If you want to be serious about daytrading you need to be in ES. You need that liquidity. Lets say you are a consistantly profitable trade. And you want to trade 20 contracts per trade. How easy is it on YM and how easy on ES?

Case closed.

P.S. Until a few months ago, I only traded YM.
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couldnt agree more, i was trading TF but hit the wall when i tried to increase size. ES range is much smaller which makes the comm. number looks big, but i guess we'll have to live with it...
 
Took 4 trades today. All noted on the chart.

Learned a few things from past mistakes during last 3 weeks. I think I will stay very conservative on my trades going forward. The conservative rules and current system will limit both bad trades and upside potential profit/trades. But I am still happy about that since my current#1 task is cutting bad trades, getting out when trades are against me and reading the market correctly.

Today’s trades. Totally PnL: +1.75pt, 4 trades
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Quote from Matcha:

Took 4 trades today. All noted on the chart.

Learned a few things from past mistakes during last 3 weeks. I think I will stay very conservative on my trades going forward. The conservative rules and current system will limit both bad trades and upside potential profit/trades. But I am still happy about that since my current#1 task is cutting bad trades, getting out when trades are against me and reading the market correctly.

Today’s trades. Totally PnL: +1.75pt, 4 trades
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Hi Matcha,

It's great to see your post!

I think you've made a great decision to go with your current Conservative approach. What is most important is this will fit the psychology of your trading better knowing that by given up a "bigger" profit potential for each individual trade you will reduce the overall risks. Judging from your trades today, the "smaller" singles did add up to a very decent profit. In the long run this will give you the confidence and more importantly the "peace of mind" for you to trade. You will garner better and more consistent results cutting out those big ups and downs which might impact your emotions. This could be the pathway to reaching your goal to become CP.

Today I took 2 short trades, net +1.25 pts. I think my current task is also to cut those bad trades (low probability ones) and work on my protective stops. The more I think about it, going for the "smaller" singles rather than the "bigger" home runs fit my trading style better.

Best of trading to you!

--po
 
Today is a great day to practice reading PA. Lots of Reversals and trading ranges. To trade accordingly and correctly, I will need to do more practice. I am extremely sloww... today.

2 trades. 3pt
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Quote from Matcha:

Today is a great day to practice reading PA. Lots of Reversals and trading ranges. To trade accordingly and correctly, I will need to do more practice. I am extremely sloww... today.

2 trades. 3pt
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Hi Matcha,

Congrats! Excellent trades and results! I am very happy for you.

Your trade #2 (LONG) was spot on. Very nice catch.

Yes, today was a great day to practice reading PA.

I made 2 trades also. Net was half of yours, +1.50 pts.

--po
 
only one trade. sorry, have to be very brief on the journal. Will try to note everything on my chart. Very busy lately, I can't spend lots of time here on ET.
Less is more! Besides, everyone here knows what my method and setup is!

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Quote from Matcha:

only one trade. sorry, have to be very brief on the journal. Will try to note everything on my chart. Very busy lately, I can't spend lots of time here on ET.
Less is more! Besides, everyone here knows what my method and setup is!
More...

Hi Matcha,

Very nice Long trade. I had the same Long at the same time, but I didn't hold it long enough, got out when that next red bar appeared!

I did poorly today for not following my trading plan. Net for the day -2 pts. I tried something new earlier in the morning, picking "reversals" after drawing some channel lines! I guess I am not ready for that yet. You are right, less is more. I should not try too many things.

--po
 
Didn't trade this moring.

1 trade. standard Pullback set up.

This week so far has been a lucky week.... No major homeruns, all small little trades. All the entries are executed according to the plan. Happy with the execution.

Hopfully next week, I will stay with trade full session and get a few losing trades, so I can analyze them. The "re-enter" or "Reverse" strategy is still on my learning list that I often get confused about.

Today 11:50 we had a very nice re-entry bar, Doji bar, BT /BP and H1 set up. It ran 11: 00 longs 's stop. I was wondering whether I should get in again just pretending I missed the entry or got stopped out on my last trade. But then thought the trend is getting old...3 pushes...

I am amazed so far by how often ES run b/e stops and how accuratet that breakout test to exact the tick. SO I guess if I have mutiple contracts and get in a later trend. Best thing to do is not to move my last portion of contracts to b/e.

WIll contninue working on all the entries for now.

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