Matcha's Dow E-mini Journal

[Snowman75]

Matcha, I'm no expert, as I am still learning and trading only 1 contract but have a few comments on your trades.
1) You over traded. Its best not to trade when its not clear.
2) In the initial balance (first 30-60 min) the dow had a 20 pt range and you took 3 longs. You were trading in the noice and got chopped away.
3) Best oppty of day came a little after 10:30. A push down with volume and a retracement (almost 50% fib) for a clean short. This should have been your only trade.

Well done on losing only $85 despite trading 4 times! Most people would have lost more.

Stick to your plan and you will succeed! I'm rooting for ya!

 

[Matcha]

Took 2 trades today. One stopped out. The re-enter worked

# 1: 2 leg PB. Stopped out at -9Pt
#2: re-enter. +23pt

Then market has been sloppy. So I waited for a Breakout PB trade.
12:00 market made a fake break PB long setup. Since the first BO often failed, I didn’t take the trade, besides the trend has been down. Then market broke to the downside. Its also a D/T, 2 leg PB@EMA setup on the short side. I was too slow to react… Maybe next time then!

Today’s PnL: +$65, 2 trades, 50%winrate

 

[Went Fishing]

Matcha

I'm not insinuating anything, just posting some interesting facts.

% Loss of -------- % Gain on Balance
Initial Capital ---- Required to Recover
----------------------------------------------------------------

5 -------------------------- 5.3
10 ------------------------ 11.1
15 ------------------------ 17.6
20 ------------------------ 25.0
25 ------------------------ 33.3
30 ------------------------ 42.9
35 ------------------------ 53.8
40 ------------------------ 66.7
45 ------------------------ 81.8
50 ----------------------- 100.0

From the Welles Wilder Book;
New Concepts in Technical Trading Systems
Copyright, 1978

 

[Matcha]

Quote from Snowman75:

1) You over traded. Its best not to trade when its not clear.
2) In the initial balance (first 30-60 min) the dow had a 20 pt range and you took 3 longs. You were trading in the noice and got chopped away.
3) Best oppty of day came a little after 10:30. A push down with volume and a retracement (almost 50% fib) for a clean short. This should have been your only trade.

Well done on losing only $85 despite trading 4 times! Most people would have lost more.

Stick to your plan and you will succeed! I'm rooting for ya!

Thank you, Snowman. I realized I OT yesterday after 4 trades... I will do a better job not to OT...

As far as the first 60-90 min, I do have different opinion. When it trends very nicely, I will trade.... But I will stay out of the news at 7:00 for sure. I am still pay close attention to the performance during openings, if the result is poor I will stay out of it...

Big move do tend to happy a lot of time at then open, I would not want to pass on them now....

 

[Matcha]

Quote from Went Fishing:

Matcha

I'm not insinuating anything, just posting some interesting facts.

% Loss of -------- % Gain on Balance
Initial Capital ---- Required to Recover
----------------------------------------------------------------

5 -------------------------- 5.3
10 ------------------------ 11.1
15 ------------------------ 17.6
20 ------------------------ 25.0
25 ------------------------ 33.3
30 ------------------------ 42.9
35 ------------------------ 53.8
40 ------------------------ 66.7
45 ------------------------ 81.8
50 ----------------------- 100.0

From the Welles Wilder Book;
New Concepts in Technical Trading Systems
Copyright, 1978

seems logical! although the 50% loss require 100% on balance to recover increases my heart beat!
That's the other thing I am working on, Keep losses very small!!!

 

[Matcha]

Quote from PatientOperator:


Go for it, Matcha, 2011 is going to be your year!

--po

It will be our year! All of us-new traders who put all diligent work/study and followed my journal~~~

 

[Matcha]

Quote from ~~~:


New Year .. New Hope and New Dreams ... the rabbit~year is going to be more gentle and soft hey brother .. i know you like disney cartoon ... here's a cute cartoon to you. can apply it on the trading skills too haha !!!

]

HI, SIS! Back to work? How is your vaca? Loved the video. It's cute and educational!

Wish you all the best in New Year! Make more killing trades in 2011!

 

[NoDoji]

Quote from Matcha:

Took 2 trades today. One stopped out. The re-enter worked

# 1: 2 leg PB. Stopped out at -9Pt
#2: re-enter. +23pt

Then market has been sloppy. So I waited for a Breakout PB trade.

Your trading today was excellent on so many levels. I hope you realize that, and anchor today in your mind for the future.

 

[Matcha]

Quote from NoDoji:

Your trading today was excellent on so many levels. I hope you realize that, and anchor today in your mind for the future.

Thank you, Nodoji! Your comment makes my day! I will remember to repeat today again and again!

 

[Snowman75]

Excellent job! I wish I took that trade : ) I got in on the short you were looking at but had to bail for a few points profit 'cause had guests coming over for dinner. (I'm 7 hrs ahead here.) Should return to normal next week.