Not sure which has more noise: the ES or your journal? 
Enjoy your time off,
_mad
Enjoy your time off,
_mad
NoDoji's Day Trading Log
- Thread starter NoDoji
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You were not going to trade. Someone made you promise to trade. You thought it was going to range around 1027.00 for the first 20-30 min. So you go short at 1027.00 right off the bat with some ORB idea that somebody else told you about. Net result -$100 of YOUR money in about 2 minutes.
This is just crazy. You really need a vacation!
Trading stocks or trading ES or pork bellies, or lumber (ha) is all about the plan of attack, NOT the instrument. Sugar as example had a habit of trending and then out of no where it gets slammed. These days the pits are not as active as before so things do change somewhat. But least we not forget,,,,,,,,,,,,,, it is still humans placing the orders, not machines. Humans are creatures of habit, humans like familiar, they like to do what they know.
ES is just as hard and just as easy to trade as anything else. Yes, you need a fast finger to hit the mouse if the trade is telling you to pull the ripcord and bail out if your fighter is on fire or a wing just get blown off. Chuck Yeager an ACE in a day in germany (shot down 5 enemy planes in a single day) once said my plane was in flames, i did not have time to think, i just had time to get out of the fighter..........OUT I WENT.
Trade like Chuck
PS: nod is right, aggression works, but make sure it is planned aggression. No one ever uses aggression willy nilly unless a complete fool.
ES is just as hard and just as easy to trade as anything else. Yes, you need a fast finger to hit the mouse if the trade is telling you to pull the ripcord and bail out if your fighter is on fire or a wing just get blown off. Chuck Yeager an ACE in a day in germany (shot down 5 enemy planes in a single day) once said my plane was in flames, i did not have time to think, i just had time to get out of the fighter..........OUT I WENT.
Trade like Chuck
PS: nod is right, aggression works, but make sure it is planned aggression. No one ever uses aggression willy nilly unless a complete fool.
Since I have a very strong psychological block against buying into a trend on pullbacks to the trend line/moving average, I decided to SIM trade AIG early today "with trend" (the term "trend" being a bit of an understatement in this case).
Let me say that although it was only a SIM trade, it was still scary. Buying at the dip to the moving average line when price has fallen on something that has gone as high as AIG has lately, was not comfortable at all.
Despite my fears, I bought the early dip that left a higher low at the 10-period EMA (40.31) and held through the first breakout. I had no idea where the price went on the DOM, only that my P/L grew very green very fast and I was able to throw a stop at a very green level. I struggled to find the price and closed the position @ 46.44 when price had pulled almost 1 cm from the EMA (NoD'S Metric Trading at work).
Bought back in as soon as price pulled back to that 10-period EMA (44.72), and rode the next move up, again losing price on the DOM, but seeing lots of green, and throwing a stop in at a very green level once again. Closed in the high 49.00's (49.77) because I figured 50.00 would be a psychological barrier and also the 1 cm rule.
+$3354, 2 trades, 300 shares each
And now I really, really understand the phrase "the trend is your friend".
Let me say that although it was only a SIM trade, it was still scary. Buying at the dip to the moving average line when price has fallen on something that has gone as high as AIG has lately, was not comfortable at all.
Despite my fears, I bought the early dip that left a higher low at the 10-period EMA (40.31) and held through the first breakout. I had no idea where the price went on the DOM, only that my P/L grew very green very fast and I was able to throw a stop at a very green level. I struggled to find the price and closed the position @ 46.44 when price had pulled almost 1 cm from the EMA (NoD'S Metric Trading at work).
Bought back in as soon as price pulled back to that 10-period EMA (44.72), and rode the next move up, again losing price on the DOM, but seeing lots of green, and throwing a stop in at a very green level once again. Closed in the high 49.00's (49.77) because I figured 50.00 would be a psychological barrier and also the 1 cm rule.
+$3354, 2 trades, 300 shares each
And now I really, really understand the phrase "the trend is your friend".
Quote from NoDoji:
Hermit, no short AIG. Loooooooonnnnnnggggg AIG.
Ride is wild, but the seatbelts on the long train are more reliable these days
Bob said it was okay to short it. He said if it ran against me to just add to the position, so I did, all the way up. He said it was a slam dunk trade because it was his "B7" signal. Very reliable.
Anyway, I had a pending loss of -$83k, but it worked out in the end when I nailed the exit for $14.54 Booooooyaaaah!!!
Who's laughing now AIG?Haha, just pulling your leg, Bob.
NoD you were missed last week but the market was dead so you didn't miss anything.
tell hubby that I'm working on some spreadsheets that will work with e*trade's excel plugin so he'll understand how I automated the trade.
right now I just have a simple vlookup that says "look at sheet#2 and if cell A1 = "buy" then buy, if sell A1 = sell then sell" He is after the second sheet that pulls the data and calculates the buy/sell trigger so I'm working on something that will give him an idea of how i did it. FYI, etrade is so horribly slow with execution that I would not wish that on anyone so please whatever you do... do not let him attempt to go live with anything automated on etrade.
tell hubby that I'm working on some spreadsheets that will work with e*trade's excel plugin so he'll understand how I automated the trade.
right now I just have a simple vlookup that says "look at sheet#2 and if cell A1 = "buy" then buy, if sell A1 = sell then sell" He is after the second sheet that pulls the data and calculates the buy/sell trigger so I'm working on something that will give him an idea of how i did it. FYI, etrade is so horribly slow with execution that I would not wish that on anyone so please whatever you do... do not let him attempt to go live with anything automated on etrade.
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