My high school summer job: trading the NQ
- Thread starter zdawg164
- Start date
good job, its been a choppy morning.
Guys, let me just thank all of you who came on this thread to join my trading adventure and who wished me luck at it.
Let's get down to the real deal.
I guess I should call today a very good day in relative terms but I think it's more bittersweet.
Anyways, let's get down to the sweet part. I had two trades in this whole day. One of these was a nicely executed 2.5 point gain. You can see it on the chart as the last trade of the two...
The bitter part. As you will also see on the chart, I ignored one of the only signals I got today early on because I didn't have the nuts to pull the trigger. I knew in my heart I should have shorted 45, but I waited and missed out on a potential large gain.
The other bad thing was my first trade of the day, where I did follow the 45 signal and shorted, but got stopped out .5 pts more than my intended 2 pt stop.
All in all I broke even without commissions....
I think tomorrow I might actually MAKE some $$$
!
Once again, thanks guys for following my adventure, I just feel like this will be the one of the first milestones of many this summer.
Let's get down to the real deal.
I guess I should call today a very good day in relative terms but I think it's more bittersweet.
Anyways, let's get down to the sweet part. I had two trades in this whole day. One of these was a nicely executed 2.5 point gain. You can see it on the chart as the last trade of the two...
The bitter part. As you will also see on the chart, I ignored one of the only signals I got today early on because I didn't have the nuts to pull the trigger. I knew in my heart I should have shorted 45, but I waited and missed out on a potential large gain.
The other bad thing was my first trade of the day, where I did follow the 45 signal and shorted, but got stopped out .5 pts more than my intended 2 pt stop.
All in all I broke even without commissions....
I think tomorrow I might actually MAKE some $$$
!Once again, thanks guys for following my adventure, I just feel like this will be the one of the first milestones of many this summer.
Nice work. Breaking even on a chop day like today is great. Never ever worry about missed trades. You are always going to miss something, just make sure that the trades you do take are high probablity and forget about the rest.
Breaking even is a good accompishment. Over time the confidence will come to not be afraid to pull the trigger. There will always be another day to trade - make sure you are able to be there.
yo zdawg.. i made my first two trades today. and i must confess, the emotional aspect of it wasn't as bad as you had it, but im still kinda shaking (but i think its from getting cold all of a sudden). at first my heart started pounding.. not racing but the hardcore pounding. then after the two trades were done, i realized i was cold and stuff. my hand is all sweaty and clammy and such just like you said yours was.
and lemme say-fuck this is gonna be addicting.
my two trades were in qm. short 141.4 cover 141.2. then long 141.025 sell 141.225. +200 for the day.
i need to let my winners run
and lemme say-fuck this is gonna be addicting.
my two trades were in qm. short 141.4 cover 141.2. then long 141.025 sell 141.225. +200 for the day.
i need to let my winners run
Because you will have missed trades, its also very important that
your r/r ratio per trade is more than high enough to cover the
losses. Even the best traders lose money most the time, and
I know for a fact because I talk to some on a daily basis..one
trader I know wont take a trade if the risk/reward isnt 1:5. In
the last 6 trades I had:
2 winners (average winner: 720)
4 losers (average loss: 132.5) .. which is a 1:5 ratio
good luck
cm69
your r/r ratio per trade is more than high enough to cover the
losses. Even the best traders lose money most the time, and
I know for a fact because I talk to some on a daily basis..one
trader I know wont take a trade if the risk/reward isnt 1:5. In
the last 6 trades I had:
2 winners (average winner: 720)
4 losers (average loss: 132.5) .. which is a 1:5 ratio
good luck
cm69
Quote from cashmoney69:
Because you will have missed trades, its also very important that
your r/r ratio per trade is more than high enough to cover the
losses. Even the best traders lose money most the time, and
I know for a fact because I talk to some on a daily basis..one
trader I know wont take a trade if the risk/reward isnt 1:5. In
the last 6 trades I had:
2 winners (average winner: 720)
4 losers (average loss: 132.5) .. which is a 1:5 ratio
good luck
cm69
Although you make a good point, what if you have a high batting average like me? Had I made that trade, I would be %75 right for the day, and woulda had a profit as well.