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

I agree, risk, money and pschological management are the leverage to attaining wealth when applied to rules (methodology).

Seeing your recent posting of results only I ascertain then that these are in line for you.

I am quite new to the ES and have painstakenly created my money management system for this business along with trading rules. Psychology has played a bigger part in the trading than the methodology as I am a short term player, usually 1 to 3 minutes.

My losses have been a blow, but my gross profit has kept my head above water.

Thanks for your input,
J
 
Quote from brightstone:

I am quite new to the ES and have painstakenly created my money management system for this business along with trading rules. Psychology has played a bigger part in the trading than the methodology as I am a short term player, usually 1 to 3 minutes....My losses have been a blow, but my gross profit has kept my head above water.

Thanks for your input,
J
More...

I wish I was as smart as you when I started. I did everything wrong, and then, took a long time to understand my mistakes. But maybe there is hope for me yet....:D
 
PROFIT FACTOR

From a sample of 500-1000 trades. After deducting all commissions.

NET GAINS /GROSS LOSSES

under 1.5 most traders
1.5 = marginal traders
2.0 = Trader
3.0 = Super Trader
5.0+ Master Trader

It is important that the PF is maintained over a large sample of trades. Goodday has pulled his PF up from 2.2 to 4.1 this month up to his last trade post.

Simply by focusing on this profit factor and having a goal for achieving a healthy PF, it has happened for Goodday. You develop the strategy that will produce the PF you know you need to succeed. It's called feedback.

Excellent to watch.
 
Quote from goodday:

I wish I was as smart as you when I started. I did everything wrong, and then, took a long time to understand my mistakes. But maybe there is hope for me yet....:D
More...


I feel like I am doing everything wrong....I keep a pretty accurate trade journal but still make alot of mistakes. I look back over to the losses to check for patterns. The variation in the trading this month has been a roller coaster for me. But still riding with my hands in the air.
 
Quote from brightstone:

I feel like I am doing everything wrong....I keep a pretty accurate trade journal but still make alot of mistakes. I look back over to the losses to check for patterns. The variation in the trading this month has been a roller coaster for me. But still riding with my hands in the air.
More...

Anything I can do to help???
 
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