MES Journal - 2020 Dec

G

gerryhoho

I would like to record my trading here for a reference.

Aim is to day trade the MES and hope will break even first and improve to make some money

Method: Just using simple R/S and a bit price action trading the 5 mins & 1 min

Currently reading AlBrooks Reading Price Charts Bar by Bar to get an idea how to entry to get in a trade
 
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BOT 1 MES Dec18'20 @GLOBEX 3653.25 USD GLOBEX 22:53:44 0.47
BOT 3 MES Dec18'20 @GLOBEX 3650.75 USD GLOBEX 22:52:34 1.41
BOT 3 MES Dec18'20 @GLOBEX 3648.75 USD GLOBEX 22:52:14 1.41
SLD 3 MES Dec18'20 @GLOBEX 3647.25 USD GLOBEX 22:47:50 1.41
SLD 1 MES Dec18'20 @GLOBEX 3645.50 USD GLOBEX 22:44:12 0.47
SLD 3 MES Dec18'20 @GLOBEX 3651.00 USD GLOBEX 22:41:54 1.41
BOT 3 MES Dec18'20 @GLOBEX 3650.75 USD GLOBEX 22:41:48 1.41
SLD 3 MES Dec18'20 @GLOBEX 3650.50 USD GLOBEX 22:41:46 1.41
BOT 3 MES Dec18'20 @GLOBEX 3650.50 USD GLOBEX 22:37:02 1.41
SLD 3 MES Dec18'20 @GLOBEX 3648.00 USD GLOBEX 22:30:49 1.41

P&L -$111
 

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Laissez Faire said:
I can tell from your opening post that this will not work out.

Why do you think or expect to consistently make money?
More...


The whole point I am having this is bcos I am not making money. By recording it I hope I or people can point out where the problem is.

Welcome to point out things u observe, cheers!
 
Well, the initial observation is that you're hoping to breakeven and currently reading a book on the side which you hope will help you.

Don't you see the folly here yourself?

The sensible thing to do would be to finish reading that book first and put live trading on hold until you've learned more. Back-test the set-ups/entry signals and see if they have any validity. This should take you a few months.

If they have any validity and you have reason to think this will make you money - then create a trading plan/system based on your observations and only then start trading it.

But you may very well realize in back-testing that the signals from that book ain't sufficiently reliable.

Are you trading with live money or in simulator?
 
Write down exactly what you saw and what you did and someone will be able explain either why you misread the price action, the context or simply confirm your read and help you to except it as one of those trades that didn't work out.

I have never read any of Al Brooks books but if his trading strategy is truly price action and not more educational ambiguity it can be programmed and back tested. No need to waste money trading ambiguity and beating yourself up wondering if you have understood ambiguity.
 
gerryhoho said:
BOT 1 MES Dec18'20 @GLOBEX 3653.25 USD GLOBEX 22:53:44 0.47
BOT 3 MES Dec18'20 @GLOBEX 3650.75 USD GLOBEX 22:52:34 1.41
BOT 3 MES Dec18'20 @GLOBEX 3648.75 USD GLOBEX 22:52:14 1.41
SLD 3 MES Dec18'20 @GLOBEX 3647.25 USD GLOBEX 22:47:50 1.41
SLD 1 MES Dec18'20 @GLOBEX 3645.50 USD GLOBEX 22:44:12 0.47
SLD 3 MES Dec18'20 @GLOBEX 3651.00 USD GLOBEX 22:41:54 1.41
BOT 3 MES Dec18'20 @GLOBEX 3650.75 USD GLOBEX 22:41:48 1.41
SLD 3 MES Dec18'20 @GLOBEX 3650.50 USD GLOBEX 22:41:46 1.41
BOT 3 MES Dec18'20 @GLOBEX 3650.50 USD GLOBEX 22:37:02 1.41
SLD 3 MES Dec18'20 @GLOBEX 3648.00 USD GLOBEX 22:30:49 1.41

P&L -$111
More...

These are simulator trades ???

Also, why 3 contracts instead of 1 ???

Is your trade method backtested as in do you have any statistical analysis about your trade method for the past few years ???

wrbtrader
 
Laissez Faire said:
Well, the initial observation is that you're hoping to breakeven and currently reading a book on the side which you hope will help you.

Don't you see the folly here yourself?

The sensible thing to do would be to finish reading that book first and put live trading on hold until you've learned more. Back-test the set-ups/entry signals and see if they have any validity. This should take you a few months.

If they have any validity and you have reason to think this will make you money - then create a trading plan/system based on your observations and only then start trading it.

But you may very well realize in back-testing that the signals from that book ain't sufficiently reliable.

Are you trading with live money or in simulator?
More...


I am trading live money unfortunately
 
They said:
Write down exactly what you saw and what you did and someone will be able explain either why you misread the price action, the context or simply confirm your read and help you to except it as one of those trades that didn't work out.

I have never read any of Al Brooks books but if his trading strategy is truly price action and not more educational ambiguity it can be programmed and back tested. No need to waste money trading ambiguity and beating yourself up wondering if you have understood ambiguity.
More...


Thanks! My beginning move was to short the market which I did in 1&2. 1 was stopped out quickly and I tried again at 2.

ES turns out to be stronger than YM and NQ. At one point 2 where I short @ around 51 has gone down almost 9 points and I was expecting it goes a bit more where it didn't and I ended up losing $111. Its a fair results as I had two attempts and 2 I had loaded up with 7 MES contracts.

The only concern I had for the day is I know ES cannot go down more and I was looking to long. (@#3)
But in real time for some reason I just find it difficult.

upload_2020-12-3_12-59-27.png
 
wrbtrader said:
These are simulator trades ???

Also, why 3 contracts instead of 1 ???

Is your trade method backtested as in do you have any statistical analysis about your trade method for the past few years ???

wrbtrade

Em... I did observe quite a long time but not actually capturing the charts.
More...
 
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