S/R Emini Journal

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Quote from ndjeff7:

I agree with those posters saying that stops are critical in trading these futures. At least for me it took a little while when I first started out to get the stop in the right place. I had a habit of putting the stops too close to the entry and therefore got stopped out of many good trades. It took a while to become comfortable with the risk whenever I got into a trade but now whenever I get stopped out it's because the trade didn't work out, not because I got caught up in the "noise." There's a myth that if you set a tight stop that you won't take big hits and blow your account, but what happens is you get chopped up in the "noise" and your account just dies a slow death instead.
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Yes, stops for intraday trading are a must but settng them too tight you are better off not getting in the trade at all. A lot of people set tight stops because they are worried about win loss ratio. Stops are not the best way to ensure a better win loss. Smart execution is the best way to ensure win/loss. Take the best trades of the day only. I have my Ninja trader programmed to where as soon as my trades executes I automatically have a 2 point target and 2 point S/L set. Then if I need to escape early I hit the Flatten All button.
 
Quote from cashmoney69:

Because you can make $$$ a lot faster! :p
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You are right but you can also lose it faster than you gain if you are not careful. So just be careful and trade simple. It really isn't rocket science.
 
i have been told that stops are all about risk/reward.here is scenario ........no stop and loss begins to appear...what next? .risk is ? that includes no mental stop...
 
find our own little cookie cutter....do it...until it quits working...4re's 2 pts is a perfect example........has been working for 5 1/2 years....ES....
 
Quote from tradequicker:

i have been told that stops are all about risk/reward.here is scenario ........no stop and loss begins to appear...what next? .risk is ? that includes no mental stop...
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When in doubt BAIL. That is why we have a Flatten All button. But why would you enter into a trade and not at least have a mental stop in the first place. You might do it once but the first time you get hit with a big loss you will remember this trade forever. That is experience talking.
 
Before I post my numbers for tomorrow I wanted to post a daily chart so you guys can see what I have been looking at for a while now. I have posted notes on the chart so I'll keep this post short.

Gary
 

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just responding that stops have nothing to do with risk/reward. was curious ...do stops minimize your risk? and if that is a consistent # and reward is consistent # also then i say the stop is the 1/2 of risk reward....
 
Ok here are my numbers for tomorrow.

Long 1314.50 - 1340 (Go back to may on the daily chart)

Short 1310 - 1306.50

Good trading to all tomorrow,

Gary
 

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just a friendly little conversation my friend no contention here...only having a thought provoking conversation....trade without stops and you are on the money....acct damage....
 
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