Nov Shameless Self Promoting Guru Journal

I just started trading the eMini products 10 weeks ago. I'm very interested in this journal, but I'd like it better if you would keep it consistent.

Originally posted by Brandonf
My goal is to average 4 S&P points or 10 NQ points a day.
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That will be $200 x 20 trading days in November = $4,000.00

$4,000 / $10,000.00 = 40%

Originally posted by Brandonf
Personal Margin Requirement per 1 lot: $10K

Days Return: 1.34%
Months Return: $343.50 (3.44% after 3 days)
Montly Goals 7.5% to 12.5% (90 to 150% per year coz I do not compound))
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You have cut down your monthly goal by 75% since your first post. I realize that this is not a real journal and that this is paper trading - you do not actually make these trades, but I think it is important for your credibility to keep things consistent.

I only trade the sixty minutes following the first 30 minutes. My brother has discovered a pattern and developed a system which I trade. I get signals 2 out of 5 trading days and I have 5/6 win/loss ratio. I go for 6 ES points and I keep stops at 2 points. I am interested to see if I can add another strategy for trading the open. I look forward to your posts.

Thanks for taking the time. I really appreciate learning from all those who make the time to post. I wish I had more to contribute myself, but right now I'm just an order entry robot.

Eric
 
No matter what I do, I can't seem to make money on Fed day..so today I decided I just would not trade at all. I have not looked at the market, but I would guess that today would not be any different then any other fed day, so I probably saved money.


Brandon
 
Originally posted by Brandonf
No matter what I do, I can't seem to make money on Fed day..so today I decided I just would not trade at all. I have not looked at the market, but I would guess that today would not be any different then any other fed day, so I probably saved money.


Brandon
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How do you get away with not looking at the market? Don't you have a responsibility to the traders in your room :confused:
 
Originally posted by Te'


How do you get away with not looking at the market? Don't you have a responsibility to the traders in your room :confused:
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Sure, I have a responsibility to make them money. To me, that means if I know that I wont be able to make them any, then stay away. My best professional advice was given, that is not to trade. Being a daytrader hardly means you should trade every day. Also, Toni and Ivica were both there all day, and I suspect they traded.

Brandon
 
Brandon,

I understand your standing aside today, and I think it is a good lesson to newbies that you don't need to trade every day. A lot of your room members are no doubt beginners and today is the type of day on which they can really take a terrible pounding.

Still, I wonder how the other room op's did?
 
That's a good lesson. but, us beginners want to trade :)

Today, my entery signal came in at 9:57. I do not take any trades prior to 10:00 otherwise my brother will have me do 20 pushups for every minute prior to 10:00 am. Signal was good for 8 points today which means I could have captured my desired six. In hindsight six points for sixty pushups might have been worth it.

Let's get them tomorrow!

Eric
 
Sorry for this coming out so late. I had a few commitments after the close and just got back.

Today was a pretty slow day. I took my gap trade early and did fine, but as the market started to grind lower the volume seemed extremely low, and this had me sitting on the sidelines until near the end of the day.

Todays Trades

NQ Short from the open @1046. Average exit was 1042. +4
NQ Short into the last 30 minutes of the day. Entry @1026, trailing stops hit at 1022.5. + 3.5

Days Total Gain: (after commissions of $6.00 per one lot) +138

Margin Requirement per 1 lot: $10,000

Days Return: 1.38%
Monthly Return (to date): $481.5 (4.82%)

My gaol is not to be flashy and I know that many people put up bigger numbers then I do. That is fine, each person has to determine their own style. For me, I am very happy to win the race as the tortoise. To me, trading is more about being able to come back and make a little bit of money tomorrow then it is about being able to make a fortune today.

Posted below is a chart of this mornings gap trade.

Good Trading,
Brandon
 

Attachments

How do you guys think the Journal is going? Does anyone have any feedback? The biggest complaint I get in the room is that I'm not busy enough throwing out trades...but I have seen some of the rooms that are out there not literally giving 100 trades per day. I think this is purhaps ok if you are in a prop firm etc, but guys sitting at home, seeing it in chat, then bringing it up, then deciding to do it, I think they are simply screwed before it starts. That said, I have nothing at all against scalping when that is what is called for, but at some point I feel like a crackhead/dealer if I trade too much, or give too many. The idea that the broker might make more off of my work is one of the few things in life that bug me.

Brandon
 
I get a lot of people with questions on the gap trades I do. This is by far the biggest edge I have. Most of the questions are a long the lines of people are trying to figure out how to do it, but occassionally I get the cynical person who thinks im only posting winners here. Every single thing posted here can be varified against trading accounts and Chatspace track records. At anyrate, the gap trades are definatly my best trade, and if you guys are interested I could come into the ET chat for a few days and show ya'll what Im looking at on the open.

B
 
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