S/R Emini Journal

romik · Aug 2, 2006

Quote from 4re:

I stepped away for a couple of minutes and it looks like some traders came in. About time... I am done trading for the day anyway.

3rd time break on 15 79/82.75 My DELL is coming tomorrow WOW

ksonsinc · Aug 2, 2006

i think they are fucking with all the pll who r short in this market.
next level i am thinking of shorting is 1289 or 1285 depend on the R at 1285
THE BIG BOY ARE BACK
4re how come u are done in trading for the day it only 11.30 did u make your profit or los for the day - ?

romik · Aug 2, 2006

Day trading can be extremely boring and I believe during these times of low volume/volatility most errors are made, just to be in a trade. Waiting it out, just like when lake/river fishing, is a lot more rewarding. I am referring to scalping more than anything else.

4re · Aug 2, 2006

Quote from ksonsinc:

i think they are fucking with all the pll who r short in this market.
next level i am thinking of shorting is 1289 or 1285 depend on the R at 1285
THE BIG BOY ARE BACK
4re how come u are done in trading for the day it only 11.30 did u make your profit or los for the day - ?

Two reasons:
1. I made my 2 points before 9:45 this morning
2. I have to go take care of some business in a little bit.

4re · Aug 2, 2006

Quote from romik:

Day trading can be extremely boring and I believe during these times of low volume/volatility most errors are made, just to be in a trade. Waiting it out, just like when lake/river fishing, is a lot more rewarding. I am referring to scalping more than anything else.

I totally agree. There is another journal by a Frosty or something like that. I think this person is a classic example of someone that just enters a trade for no good reason. It is like the guy who just has to have a girlfriend all the time. Doesn't see the fun in shopping around or being picky.

romik · Aug 2, 2006

Quote from 4re:

I totally agree. There is another journal by a Frosty or something like that. I think this person is a classic example of someone that just enters a trade for no good reason. It is like the guy who just has to have a girlfriend all the time. Doesn't see the fun in shopping around or being picky.

Ya, I've realised that after analysing some of my early spread-bet trades, which in fact were not based on any specifics, but on my anticipation of an untested theoretical perception of a current state of the market. I was lucky that at the time I was not managing serious bucks and even after starting to trade a relatively large account I still made some errors, again they were all based on stupid, dumb and silly. I am not talking about losing trades, we will always have them, it's the ones that do not rely on a proven back tested data.

4re · Aug 2, 2006

Quote from romik:

Ya, I've realised that after analysing some of my early spread-bet trades, which in fact were not based on any specifics, but on my anticipation of an untested theoretical perception of a current state of the market. I was lucky that at the time I was not managing serious bucks and even after starting to trade a relatively large account I still made some errors, again they were all based on stupid, dumb and silly. I am not talking about losing trades, we will always have them, it's the ones that do not rely on a proven back tested data.

I think anyone of us who says we have not done this is probably lying. I think the worst thing that can happen is when you are starting and a few of these work for you. All of a sudden reality kicks in and you lose more than you ever made.

We want to trade like a machine or a casino not like a broken clock. Even a broken clock is right 2 times a day. The bad thing is it is wrong 1,438 times a day

4re · Aug 2, 2006

Lets see if 89 will hold

actually it was 1289.75 on July 03 and 1290 on July 07, would make for a nice triple top formation.

romik · Aug 2, 2006

Quote from 4re:

I think anyone of us who says we have not done this is probably lying. I think the worst thing that can happen is when you are starting and a few of these work for you. All of a sudden reality kicks in and you lose more than you ever made.

We want to trade like a machine or a casino not like a broken clock. Even a broken clock is right 2 times a day. The bad thing is it is wrong 1,438 times a day

When I was spread-betting I've always blown the bank

I am a true believer that if I didn't go through that stage then, I would not have the discipline I have made myself develop and stick to. There are millions of pages written about trading, in essence it is very very simple.

4re · Aug 2, 2006

Quote from romik:

When I was spread-betting I've always blown the bank I am a true believer that if I didn't go through that stage then, I would not have the discipline I have made myself develop and stick to. There are millions of pages written about trading, in essence it is very very simple.

I have blown an account or two as well. In fact when I first changed over and started trading futures I thought I knew what was going on and got cocky. That was one of those times where I should not have one in the beginning. I went from 5K to 20K in about 2 weeks. In one day I lost over 17K on one trade.

Very humbling experience...Not my worst trade ever by the way.