S/R Emini Journal

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Quote from romik:

Long closed 1324.00

-6.18pts
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Here is my problem with this trade, how many contracts was it on ? You lowered the stop at least 3 times, why not have a wider stop in the begining ? now on the next trade if you do not get the same exact position size and it make 6.18 points you will still be underwater. and now you have taken a short position at the very end of a downmove, You are chasing the move on the way down by adding to a loser, and when you get stopped out you continue to chase the move by shorting after a 10 point sell off.
 
Quote from JimmyJam:

Hey Gary,

Great move with the Omnovia, you kind souls have much to teach me.

Interesting volley on which money management technique is best.

Of course, the true answer is ... Both.

I trade 100% like Patricio is advocating, and while it is not optimal, it's going to keep in the game for a long time while I build my stash.

romik's approach requieres a lot more skill, and belief in yourself as a trader, as well as the stash, and peace of mind to use those bullets well, knowing that in the end, you're going to come out far ahead of the game.

Regards,

JJ
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totally agree, jj. to each his own....
 
Quote from volente_00:

Here is my problem with this trade, how many contracts was it on ? You lowered the stop at least 3 times, why not have a wider stop in the begining ? now on the next trade if you do not get the same exact position size and it make 6.18 points you will still be underwater. and now you have taken a short position at the very end of a downmove, You are chasing the move on the way down by adding to a loser, and when you get stopped out you continue to chase the move by shorting after a 10 point sell off.
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So I take it you are Long/bullish now?

I will not go into any more specifics on this thread, only via PMs. I can only tell you that this trade is more than double position size on the previous one.
 
Quote from princessa:

hey guys,

(don't laugh)

i got a point today! :)
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Nothing wrong with taking a little to build up your confidence. Now start doing it consistantly. :)
 
Quote from volente_00:

I am flat. Good luck on your short into tomorrow.
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but hold on, you just said that this is the end of the downmove, so for sure that means going long is a reasonable thing to do, is it not? Now if you were to say that you are not certain about whether the move is over or not, that would be a different matter.

Look, when you made a call all in 40 lots a while back and lowered your stop, that would be a naive thing to do, I have nothing against that. But when you trade 4 lots, 1/10th of your max position size you can allow breathing space for stops based on whatever criteria that you might be using. If you think that I was averaging into a loser, then it's your outlook on that Long, not mine. I need a reason, you need a reason for your trades. I applaud you for starting to systematically ending your live calls, not like before when you walked away from a live call, regarding stops.
 
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