Matcha's Dow E-mini Journal

[NoDoji]

Quote from luckylucy:

Nod, I have finished your trading journal. You did really excellent job!

Thanks Lucy, I still re-read it to remind myself of how easy it is to slip back into bad habits!

 

[Matcha]

Quote from Bolimomo:

Okay. I wasn't very clear. Here is a chart on SPY today 7/13/10. It's about the same for Dow/DIA.

...

understand now!
You are always very clear, It's me that always have questions.

 

[Matcha]

Quote from Bolimomo:

Wow... me2 me2... a free meal would worth me driving 2 hours out there, whoever pays the bill! French? Or Chinese? I WILL TAKE IT!!!!

I will try to make it happen. Hopefully it doesn't take tooooo
lonnnnggggg,

 

[Matcha]

Quote from ~~~:

ha! honestly ... i love Chinese food is always the Best!!! Hey, if 4 of us going for dinner.. it's either you or me pay the bill ( we can toss a coin to decide but if Matcha and PO are CP winners. We make sure they pay the bill for their "mentor" & "big sister" lol

deal!

 

[Matcha]

Quote from ~~~:

haha sweetie.. you have quite a big appetite like me
Yes! food is always a very good incentive for foodie to become CP.
Now have confidence in yourself... with the right attitude.. you can make it happen.

thank you! Bad attitude cause stress and wrinkles. I don't want that!

 

[Matcha]

Quote from Went Fishing:

Matcha,

Quote 07-13-10 04:28 PM
Matcha ......"I can’t believe I had a negative day today. Today could be one of the best days for me"…

Hang in there Girl, you're doing GREAT! That was a great entry!

I'm not a big fan of the book Reminiscences of a Stock Operator, however there is a paragraph or two where he talks about changing our (traders) beliefs about hope and fear. He says it's common for traders to FEAR that our profits will go away. And it's common for traders to HOPE our losses won't get any larger.

He suggests we change our thoughts to:
HOPE our PROFIT will INCREASE
&
FEAR our LOSS will INCREASE

Knowing when to take profits is in fact the hardest part of trading. IMO
You're a lucky girl, listen to your "Sifu".

I'll leave you with a story;
You're at the mall, and you have just finished shopping. You walk out to your car and as you put your key in the door you notice, a one hundred dollar bill laying on the ground by the left front tire......What are you going to do? Bend over and PICK IT UP? Or, are you going to go back into the mall,,,,,, shop for another hour or so ,,,, return to your car,,,, and hope there's two hundred dollars laying there !!

I say take every target, you can work on optimizing your profits later. )


<*)))><

PS,,,,,, You guys EAT to much!!

Hi, Went Fishing, Nice to meet you here! Thanks for stopping by!
I love your quotes from JL. Which version of 'Reminiscences of a Stock Operator " book you have read?
The story of picking up the bills is great and vivid metaphor of take the quick profits!

 

[Matcha]

Quote from NoDoji:

Well, here's how free my ride is: The 100% ROI is almost completely used up after living expenses and some unforeseen medical/dental bills. So my trading account is not too different-looking than it was when the year started :eek:

This explains the difficulty in trading for a living with a small account. I'm a far more conservative trader than I'd be if I had a larger account, or a full-time job that paid the bills, or a very small monthly nut to cover.

Sorry to hear that. That's why I want to stay very very conservative in trading and continue to lead a frugal life even after I could become CP!

For a great trader like you, I am sure by the end of year, you could have another more than 100% return. It will be a real free ride!!!

 

[Matcha]

Quote from luckylucy:

hello matcha.
It is not an easy job to daytrade index like today and yesterday. I didn't see many set ups, and when there was one, the R/R was not comfortable to get in.
Although i am not a profitable trader, I may advice that avoiding days like these is part of successful strategy.

yes yes, if in live account, I would log in sim trading range days like YTD and 2day for sure!

 

[Matcha]

Quote from NoDoji:


....
My personal opinion is that a large time frame (such as daily) is helpful in the overall bullish/bearish picture, but I use a 5-min chart for setups an signal bars, and cross reference a 1-min chart to see inside the price action, and often get an early entry before the 5-min chart fully signals.

I'm not clear from your chart what happened here. The short looked good, but why would you place a wide stop? It looks like you shorted near 10278? The stop should've been just outside that pivot high (the lower high).

But I'm not sure I understand your entries and exits from looking at the chart.
......

TRADE C was the worst trade. I shorted when price couldn't hold the S level, the price finished 4 leg move and "reversed". Price on 5 min formed a reversal doji bar with 100 EMA. Then 2 red candles following with the doji bar. Even it were a valid short setup, I was too late for the entry.... But I entered regardless, then I set the stop very wide. above pivot high... Very bad call.

A little messy today, so you can hardly tell what's the intention of my entry....
Thanks Nodoji! I will keep tell myself not to set wide stops!

 

[~~~]

I'm not a big fan of the book Reminiscences of a Stock Operator....

You're a lucky girl, listen to your "Sifu".

PS,,,,,, You guys EAT to much!! [/B]

hmmm..Jesse Livermore's a Genius with a tragic ending. He committed suicide... a very sad story!

Yeah! Matcha is indeed a very lucky girl to have a "Sifu" like Bolimomo.

PS: We love food so much, that's why they call us "Foodies". We're healthy and not fat, so it's still okie to eat so much... lol