Oh No, NOT Another S&P EMini journal...

porgie · Jul 10, 2006

gooday.............best wishes .........make more than u lose........this forum is fun but won't help you........only u can help u.......

goodday · Jul 10, 2006

TRADES for 7-10-06
From today there will be a format change in posting. So far I have been posting contracts traded and gross profit or loss. Starting today I will be posting Net profit or Loss.

Short 10 contracts.
Closed for NET PROFIT $465.
Closed trading for the day.

chrisofj · Jul 10, 2006

Quote from goodday:

DUE TO LOSSES LAST WEEK, Circuit Breakers are on for the new week:
This means:
1. Go back to basics.
2. Take only "absolutely sure" trades or "low hanging fruit".
3. Drastically reduce the number of contracts to trade.
4. Have tighter stops.
5. NO LOSSES allowed for one full week of trading. (i.e. no trading is better than trading and taking a loss)

I like your circuit breaker plan, is this something you have written down, and has this worked for you in the past? Sounds like hard won rules.

goodday · Jul 10, 2006

Quote from chrisofj:

I like your circuit breaker plan, is this something you have written down, and has this worked for you in the past? Sounds like hard won rules.

The answer is YES to all your questions.

goodday · Jul 11, 2006

Pre-Open (EST) trades for 7-11-06:

Long 22 contracts.
Closed for net profit of $360.50.

Flat before the open.

goodday · Jul 13, 2006

Short 25 contracts
Closed for net profit $3250.50

Finally closed the gap..... GOOD.

Done for the day.

goodday · Jul 17, 2006

My circuit breaker rules are still ON for this week as well.
This means
1. smaller number of contracts,
2. "low-hanging fruit" trades only,
3. tighter stops etc. (see prior post).

Some days there may not be any trades at all, but NO losses allowed for the time period.

goodday · Jul 17, 2006

Trades for 7-17-06

Contracts traded: 72
Net profit for the day: $1198.00

Done for the day.

JimmyJam · Jul 17, 2006

Quote from goodday:

My circuit breaker rules are still ON for this week as well.
This means
1. smaller number of contracts,
2. "low-hanging fruit" trades only,
3. tighter stops etc. (see prior post).

Some days there may not be any trades at all, but NO losses allowed for the time period.

07-11-06 09:04 AM

Pre-Open (EST) trades for 7-11-06:

Long 22 contracts.
Closed for net profit of $360.50.

Flat before the open.

07-13-06 09:51 AM

Short 25 contracts
Closed for net profit $3250.50

Finally closed the gap..... GOOD.

Done for the day.

07-17-06 10:17 AM

Trades for 7-17-06

Contracts traded: 72
Net profit for the day: $1198.00

Done for the day

... you mentioned earlier that folks only write when you're a losin.

Well here's a comment when you're a winnin.

You know those circuit breaker rules?

They should be the rules!.

Get rid of your fear of missing out (check out the 4 fears thread in the psychology section - great stuff!) and I guarantee you'll make a mint.

Later,

JJ

mishwar · Jul 17, 2006

Quote from KRSNA:

Hello KRSNA can you please give more details on PF and CR ?
Thanks in advance
mishwar

Based on figures posted here, you have a profit factor roughly of 4.18 on gross profits. However if you are paying $2 a side this drops to maybe 1.9 and $1 a side is 2.38. To stay above 2.0 I consider essential for a pro. Get above 3.0 and you definitely are the edge. The Lower your comms, better the PF.

Next you need to know your compound ratio. In my experience over some 20 years, if you have a good PF and CR you have arrived. Om Tat Sat.