My Daytrading Method

Quote from eminitrader007:

add another short.

sell-limit: 1316
Stop: 1321

Not sure if the market will go there but a bounce would be nice.
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The high for the day was 1316.50. This ended up being a nice trade.

Current positions:
2 shorts.
1@ 1321.5 and
1 @ 1316.

ES closed at 1309. Based on that net profit is 19.5 ES points. I might cover 1 or all if the ES looks strong in the morning and look to re-short around 1316 again.

I think I'm enjoying this more than when I was day-trading. Although the profit-potential is less the chances of losses are less and it is definitely less stressful.
 
Quote from eminitrader007:

The high for the day was 1316.50. This ended up being a nice trade.

Current positions:
2 shorts.
1@ 1321.5 and
1 @ 1316.

ES closed at 1309. Based on that net profit is 19.5 ES points. I might cover 1 or all if the ES looks strong in the morning and look to re-short around 1316 again.

I think I'm enjoying this more than when I was day-trading. Although the profit-potential is less the chances of losses are less and it is definitely less stressful.
More...

Will stay with it, Stop moved to 1313 on both contracts. So the worst I'll do is 11.5 ES points.
 
Quote from K-Rock:

Starting a new journal explaining your swing trading system would be easier to follow.
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Yeah.....I find it tough to follow/believe someone who just throws out numbers and says long here....short here. More of a dart thrower than anything.
 
Quote from EPrado:

Yeah.....I find it tough to follow/believe someone who just throws out numbers and says long here....short here. More of a dart thrower than anything.
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Why is it hard to follow? Do numbers not make sense if you do not see a picture with it?

I would not beleive if someone comes and makes the claim after the market is already there but I usually post where I want to be short or long, the previous night.

I will hopefully start a new journal in May but till that time I will just post here.
 
Quote from eminitrader007:

Will stay with it, Stop moved to 1313 on both contracts. So the worst I'll do is 11.5 ES points.
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Stopped out with a profit of 11.5 points, but mad at myself for giving back a lot.

Lesson learned: If you have paper profits cut your position size by half before a major Fed meeting. If you have losses, get out completly.

Should have learnt that from PTJ.

This is going to be the last rally before a serious downturn. Might still try to test 1325 one more time.
 
Quote from eminitrader007:

Why is it hard to follow? Do numbers not make sense if you do not see a picture with it?

I would not beleive if someone comes and makes the claim after the market is already there but I usually post where I want to be short or long, the previous night.

I will hopefully start a new journal in May but till that time I will just post here.
More...


No need for a chart....I guess I see too many journals on here with people just spitting out numbers...failing...then starting a new thread all over again....not saying this about you...

I saw a thread with a person short the euro at the 1.2200 area....the euro is now at 1.2565....no word from this person...


I just find these trading threads kind of useless....that being said, yours is one of the only honest/worthwhile ones I have seen on here..
 
Quote from EPrado:




I just find these trading threads kind of useless....that being said, yours is one of the only honest/worthwhile ones I have seen on here..
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Thanks!!!! When I start a new journal, I'll discuss part of my strategies too.

I am short 2 @ 1316, currently ES is at 1317.00, Stop @ 1320.

I might be stopped out of this, if I do get stopped out I'll look for 1325 to short again. The bonds need to recover from their down trend for me to go long.
 
Quote from eminitrader007:

Thanks!!!! When I start a new journal, I'll discuss part of my strategies too.

I am short 2 @ 1316, currently ES is at 1317.00, Stop @ 1320.

I might be stopped out of this, if I do get stopped out I'll look for 1325 to short again. The bonds need to recover from their down trend for me to go long.
More...

Stopped out. Done for the day. Will watch it closely to see how this unfolds.

Loss: 8 ES points.

Net: 3.5 ES points.
 
Quote from eminitrader007:

Thanks!!!! When I start a new journal, I'll discuss part of my strategies too.

I am short 2 @ 1316, currently ES is at 1317.00, Stop @ 1320.

I might be stopped out of this, if I do get stopped out I'll look for 1325 to short again. The bonds need to recover from their down trend for me to go long.
More...


No problemo.......I hear you on the bond recovery thing....but honestly..its like the SP's dont care what other mkts have been doing (Crude goes up, SP goes up......bonds go down...SP goes up)...the relationships between these mkts is really out of whack...who knows...while a big bond rally is normally great for stocks, in this environment it wouldnt shock me to see the bonds rally and sp's get clobbered.....people might think economy is heading south-bonds rise,sp's fall.......just a thought
 
You may be right, but be careful not to be too biased in your assessment. There is a human tendency to want to be right, and subconsciously filter in any new information so that it confirms your bias.
Quote from eminitrader007:
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This is going to be the last rally before a serious downturn. Might still try to test 1325 one more time.
More...
 
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