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S/R Emini Journal
- Thread starter 4re
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4re,
Here is my 2 cents weekend hold.........if u think about it like this it might help.....why does it matter the time frame u r holding if your stop loss is set as usual and u accept the risk which is inherent in all trades.........if the risk reward ratio is somewhere in the 1 risk 2 or more reward ........the risk is no different than any other trade...if trade is setup as always.......stop loss the same.....risk......same...ES maybe 2 pt stop......always......how is weekend bigger threat than any other trade.......i guess that is worth more like 1 cent if that...not meant as a point of argument, just something that i realized not too long ago.....all trades are the same to me....no one knows what the bar u enter on is going to do, much less the others not here yet........so guessing anticipating is wasted emotional capital....daytrading emini's ...have a great weekend..porgie
Here is my 2 cents weekend hold.........if u think about it like this it might help.....why does it matter the time frame u r holding if your stop loss is set as usual and u accept the risk which is inherent in all trades.........if the risk reward ratio is somewhere in the 1 risk 2 or more reward ........the risk is no different than any other trade...if trade is setup as always.......stop loss the same.....risk......same...ES maybe 2 pt stop......always......how is weekend bigger threat than any other trade.......i guess that is worth more like 1 cent if that...not meant as a point of argument, just something that i realized not too long ago.....all trades are the same to me....no one knows what the bar u enter on is going to do, much less the others not here yet........so guessing anticipating is wasted emotional capital....daytrading emini's ...have a great weekend..porgie
Quote from porgie:
4re,
Here is my 2 cents weekend hold....if trade is setup as always.......stop loss the same.....risk......same...ES maybe 2 pt stop......always......how is weekend bigger threat than any other trade.......i guess that is worth more like 1 cent if that...not meant as a point of argument...have a great weekend..porgie
Howdy Porgie,
That is a fair question and here is my opinion on it. Just because your R/R has not changed for the trade there are other worldly catalyst that are now probable that could ensure your S/L getting hit. Just because you have a S/L set doesn't mean you will get executed if things go real bad real fast. So the better protection is not being there at all. Now I am not saying to panic with every news item that comes out either but if the middle east conflict escalates (and it can very fast) then that could be very bad short to mid term for markets.
JMHO, have a good weekend
Gary
Greetings,
Am new here,and a want to be an index futures trader for a profession,as I feel its one of the few financial realms that an average joe can compete with "big money".
Ive gone through only the first 30 or so pages,and intend on hitting them all.My brief question is the advantage of trading the ES over the YM ?
Personal preference,or inherent advantage?
Im here to learn and will try not to pollute with naive questions.
Great forum and hope to contribute with some useful ideas.
cordially Tom
Am new here,and a want to be an index futures trader for a profession,as I feel its one of the few financial realms that an average joe can compete with "big money".
Ive gone through only the first 30 or so pages,and intend on hitting them all.My brief question is the advantage of trading the ES over the YM ?
Personal preference,or inherent advantage?
Im here to learn and will try not to pollute with naive questions.
Great forum and hope to contribute with some useful ideas.
cordially Tom
Quote from Thom64:
Greetings,
Am new here,and a want to be an index futures trader for a profession,as I feel its one of the few financial realms that an average joe can compete with "big money".
Ive gone through only the first 30 or so pages,and intend on hitting them all.My brief question is the advantage of trading the ES over the YM ?
Personal preference,or inherent advantage?
Im here to learn and will try not to pollute with naive questions.
Great forum and hope to contribute with some useful ideas.
cordially Tom
Hey Tom,
I can only answer this for myself. The only reason that I trade the ES over the YM or NQ is that it is the first emini that I learned to trade. The math is easier for me to figure my P/L for the day. I actually like the movement of the YM a little better and I think I can figure the the DOW better than I can the S&P but I stick to the ES anyway.
Now for the warning: Please be careful with your assessment of the average Joe competing with the big money. The average Joe can and does get eaten by the big guys everyday in this market. I have traded several different markets throughout my career and this is the most competetive market there is. I don't know what your trading history is so I have to say this. Start slow and build a bankroll, if you just dump a life savings into an account and expect to make a living you could be sadly broke shortly. I wish you luck and hope that some of the YM and NQ guys will give you their input as well.
Gary
Quote from Thom64:
Greetings,
Am new here,and a want to be an index futures trader for a profession,as I feel its one of the few financial realms that an average joe can compete with "big money".
Ive gone through only the first 30 or so pages,and intend on hitting them all.My brief question is the advantage of trading the ES over the YM ?
Personal preference,or inherent advantage?
Im here to learn and will try not to pollute with naive questions.
Great forum and hope to contribute with some useful ideas.
cordially Tom
Tom,
Personal preference for me. I developed strategies for the YM, sim traded them, then moved to real $$.
My one piece of advice...ALWAYS control your risk. There's no such thing as pushing "all-in" when trading index futures.
Good luck!
MiniDowTrader
Quote from Thom64:
Greetings,
Am new here,and a want to be an index futures trader for a profession,as I feel its one of the few financial realms that an average joe can compete with "big money".
Ive gone through only the first 30 or so pages,and intend on hitting them all.My brief question is the advantage of trading the ES over the YM ?
Personal preference,or inherent advantage?
Im here to learn and will try not to pollute with naive questions.
Great forum and hope to contribute with some useful ideas.
cordially Tom
Tom,
I would personally start with the YM or NQ, since the tick values are smaller. However, with the YM I've noticed that the volume continues to drop off. So if I had to chose as of right now I would go to the NQ. Not only is it a liquid market, the volume is healthy. After, you prove yourself at those levels, I would move to the ES and even the ER2. The ER2 seems to be growing in volume everyday. Which is weird since a couple months ago it was falling off. If you get good on the ES and ER2, you could always move to the Euro-Fx and Crude Oil ( those two are personally my favorites since the tick values are more and it seems to trend better then the idexes). I also find that not limiting myself to one or two markets allows me to maximize my edge. Sometimes crude oil will produce numerous signals, while the indexes nothing, and vice versa.
The trick is to find your edge, master the psychology, and find the market that fits your personality. After that its smooth sailing. I say that tongue-in-cheack as those 3 steps will never be "mastered". Thats not saying that money cant be made, but there is always something that can be improved upon. Welcome to the most competitive markets in the world, good luck.
-Nick
Hey Guys,
I will not be able to trade in the morning. I have to take care of patients. But I will be back for the afternoon session. Also I would like to let you guys know that I will be on vacation the week of July 24th. Just going to Vegas fo the week. Taking the family so I probably won't do a lot of gambling. I will keep an eye on things and will still monitor the journal some while I am gone.
Anyway here are the numbers for tomorrow:
Long 1246.25-1249.50
Short 1234.25-1230
I still believe that if we break through 1230 it could be a bloody day. Naz has already broke 52 week lows so S&P could do it as well.
Have a good trading day,
Gary
I will not be able to trade in the morning. I have to take care of patients. But I will be back for the afternoon session. Also I would like to let you guys know that I will be on vacation the week of July 24th. Just going to Vegas fo the week. Taking the family so I probably won't do a lot of gambling. I will keep an eye on things and will still monitor the journal some while I am gone.
Anyway here are the numbers for tomorrow:
Long 1246.25-1249.50
Short 1234.25-1230
I still believe that if we break through 1230 it could be a bloody day. Naz has already broke 52 week lows so S&P could do it as well.
Have a good trading day,
Gary
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