S/R Emini Journal

Status
Not open for further replies.
Quote from austinp:

4re, I missed saying thank you for the pm invite into your thread... it is a very pleasant, extended conversation y'all are building upon, a very refreshing change from some others we might find.

As for your +2pt targets, whatever is working, keep it up! I meant no disrespect on that aspect at all. I am 100% all for whatever puts real money in the bank, consistently.

I was eluding to legions of emini traders who begin as +2pt per session traders, then gradually evolve into two-tick scalpers on the fast path to going broke. Somewhere along the line, too many aspiring ES traders fall prey to the 50-tick / 1min chart scalping approach. That is usually a desperate attempt to scratch & claw out any kind of profitable performance, when in fact they are going the wrong way.

Trade To Win
Austin
More...

Austin,
Thank you, I hope you like it here. We do have some great guys in here. I knew what you were getting at with the 2 point thing I was just clearing up that there is a big difference in a descretionary trader just taking what he can and a 2 point trader with a goal and a defined entry for it.

I really believe that if a person was disciplined enough he could get in and take 1.25 points a day on one trade and in a years time would be very happy with his results.

Can you explain your method of entry and exit. I just like to know the how and why of execution. And it lets our new traders (I don't call them newbies) maybe see something new as well.

BTW, are you from Austin?
 
Quote from 4re:

I went today and got mine of course I had to use layaway until tomorrow when I can afford it.
More...


Believe it or not those bad boys only cost a quarter of a ES point.
Just got em grilled and damn they are good.


:)
 
please forgive ...but all weeks are beautiful emini's....all days.... there is no such thing as a bad day or market during 9 cst to 3.....i used to worry about times anticipate things....now just take the signals...this is 4re's fine forum and fine it is.......that is what this forum is about...his and friends stuff, not my weekend warrior rambling...my junk is for the goofy ones only like me.......his s/r system is working well.....very well.......that is good enough to be huge....if not already....different angle now ..for t hose who wish to trade low percentage systems that is a huge trap for most....i am saying for most not all.....to lose is psyche damaging for the novice trader....it sounds good to say 50 percent is good enough......how would u like to put your finger on the mouse button and KNOW that u are entering with a 50 50 shot at losing when u don't even know high probability what is coming next.......tha t is coin flip and it is for experienced traders and i f they have been trading long enough to have those skills they should have a 75% or so system developed.....but not necessary if skills are excellent...most can't lose long enough for skills to develop to that level.......most of it is all about emotions further down the road, not systems but losing 1/2 the time or having to learn how to get out of 50 50 trades with your skin will make u wish u had a very high percentage picture to look at....confidence is key above all.......can confidence build using 1/2 50/50 winner? ...that answer is no it cannot...no confidence no trade for long........IMHO ONLY........emini intraday
 
4re...I have been trading this system for a week or so, and I am please with the results. Keep up the great work!

Not to be negative, but my reply is directed to Porgie's other brother Porgie and his last post here.

What the hell are you saying?

No offence, but were you home schooled? I can almost hear a banjo playing in the backround.

Whats worse, is now I have to ignor another handle. For a nanosecond, I had a glimmer of self doubt as a result of your last post. It was quickly extinguished when I realized who was scratching out the post.

I mean no disrespect, but please try and create a ligible post so those of us who understand the use of a comma and period can understand what you are trying to say. Those of us mortals with a 50/50 win/loss ratio would love to hear more about your 100% win rate.

Appologies to 4re for getting off track, but I felt I had to chime in...

Regards,

Monaco

>>>>>>>>>>>>>>>


please forgive ...but all weeks are beautiful emini's....all days.... there is no such thing as a bad day or market during 9 cst to 3.....i used to worry about times anticipate things....now just take the signals...this is 4re's fine forum and fine it is.......that is what this forum is about...his and friends stuff, not my weekend warrior rambling...my junk is for the goofy ones only like me.......his s/r system is working well.....very well.......that is good enough to be huge....if not already....different angle now ..for t hose who wish to trade low percentage systems that is a huge trap for most....i am saying for most not all.....to lose is psyche damaging for the novice trader....it sounds good to say 50 percent is good enough......how would u like to put your finger on the mouse button and KNOW that u are entering with a 50 50 shot at losing when u don't even know high probability what is coming next.......tha t is coin flip and it is for experienced traders and i f they have been trading long enough to have those skills they should have a 75% or so system developed.....but not necessary if skills are excellent...most can't lose long enough for skills to develop to that level.......most of it is all about emotions further down the road, not systems but losing 1/2 the time or having to learn how to get out of 50 50 trades with your skin will make u wish u had a very high percentage picture to look at....confidence is key above all.......can confidence build using 1/2 50/50 winner? ...that answer is no it cannot...no confidence no trade for long........IMHO ONLY........emini intraday
 
Quote from MONACO11:

4re...I have been trading this system for a week or so, and I am please with the results. Keep up the great work!
More...

Glad to hear it Monaco. I hope it keeps up for you. I believe we will start to see more trendy days coming up and that is where my method really works well. I'll be rooting for you right along with my trade.
 
Quote from 4re:

Glad to hear it Monaco. I hope it keeps up for you. I believe we will start to see more trendy days coming up and that is where my method really works well. I'll be rooting for you right along with my trade.
More...


I believe high volitility is the key to this method. When the vix was 15+ you were taken your two points almost everyday sometimes twice a day. It needs to pickup a little.
 
Quote from austinp:





We only need to catch a few +4pt and +8pt moves per week to have a solid performance. The players who ply the +2pt, -1pt, -1pt, +2pt, -1pt, -1pt, 1pt game too often wind up the week with fifty round turns and +2pts profit, if any.




Austin
More...

i don't know, i think gary does great with his 1-2 point spreads. of course, he is only playing the extremes, not the middle, and he doesn't force the trade or trade every day...and he's not doing it for a living, just for extra money.

given those facts, however, i think the 1-2 point spread is a good idea....
 
No question, 4re is making the +2pt ES objective work. I also agree with him that a +1.25pt daily target could theoretically make any trader methodically successful.

But... there is a catch, and that is the demise of most aspiring emini traders before they ever make it in this game. Discipline.

4re cut his proverbial teeth in the IBM and Qs markets... paid the dues over there. That development of solid discipline serves him extremely well in the ES now.

I'll share some things that can help us all per emini trading later today. Six minutes until bell rings, my charts are just about booted up and it's time to take our first look at the market today.

Best Trading Wishes!
Austin
 
Wow, I had one of those mornings already. Sunday night I only got 2 hrs of sleep because I have been trying to get my Corporate Income tax stuff done. Then last night I was so tired when I went to bed I forgot the set the alarm which I never use anyway. Woke up late this morning and almost made my son late for school. He has never been tardy in 6 years of school. Now I am home and ready to trade. Whew, gotta love these days.
 
Status
Not open for further replies.
Back
Top