SP E-mini trading diary
- Thread starter Melz500
- Start date
Heh, kind of depends on how many contracts one swings, doesn't it?
Which actually brings to mind a chat I had with some other traders, some report total points made. As in 5 contracts on 2 pts, they made 10 pts. Or the other method of reporting would be to say how many points made per contract, or 2 pts.
Same thing really, but one reports actual gross profit while the other seems to be more indicative of strategic skill, the ability to scalp 1pt or go for a 10bagger.
TOTAL TRADES FOR THE MONTH
WINNING TRADES 11
losing TRADES 14
Win/loss percentage 44%
Total winning points for month 69.5
Total losing points for month -46
TOTAL POINTS FOR MONTH +23.5 points/contract
After a slow start to the month (which can be expected) the whole trading plan came through with a positive result of 23.50 points per contract. Based on initial intraday margin of around $1800, trading one e-mini contract and minus commissions would give you approximately 58% return for the month.
My trading win/loss percentage is mediocre at best with a 44% win rate (previous months trading and back testing has shown similar results) ,however, with proper money management skills and discipline has proven that profits can be made. For those who have been following this journal these results demonstrates the REALITIES of trading. You are going to get draw downs and winning periods. The key is to stick to a well proven method and trade it accordingly.
At the end of the day it is the person executing the system and not the system itself that generates the profits. Discipline, determination and an unwavering belief in your self are the vital ingredients to successful trading. Once you have worked out a well planned method, trading is a very boring occupation having to execute the trading plan in a monotonous, emotionless and objective fashion.
WINNING TRADES 11
losing TRADES 14
Win/loss percentage 44%
Total winning points for month 69.5
Total losing points for month -46
TOTAL POINTS FOR MONTH +23.5 points/contract
After a slow start to the month (which can be expected) the whole trading plan came through with a positive result of 23.50 points per contract. Based on initial intraday margin of around $1800, trading one e-mini contract and minus commissions would give you approximately 58% return for the month.
My trading win/loss percentage is mediocre at best with a 44% win rate (previous months trading and back testing has shown similar results) ,however, with proper money management skills and discipline has proven that profits can be made. For those who have been following this journal these results demonstrates the REALITIES of trading. You are going to get draw downs and winning periods. The key is to stick to a well proven method and trade it accordingly.
At the end of the day it is the person executing the system and not the system itself that generates the profits. Discipline, determination and an unwavering belief in your self are the vital ingredients to successful trading. Once you have worked out a well planned method, trading is a very boring occupation having to execute the trading plan in a monotonous, emotionless and objective fashion.
Sounds good to me...great to hear.
dbanks...I think Melz500 didn't accomplish the goal of his journal via his initial message post...
My reply was this...
I wasn't the only one that saw that it was impossible for Melz500 to achieve his goal...
Simply...I think he finally realized that after realizing he was creating more critics and realizing his critics that weren't even members of this discussion forum...weren't getting any proof.
With that said above...his methodology started off poor with a lot of 3 point losers than he started nailing a few +10 pointers...
Yet...he started saying things like stick around and you'll learn something...
although nothing was being taught other than the following via his last message post...
_________
1. With proper money management skills and discipline has proven that profits can be made.
2. You are going to get draw downs and winning periods. The key is to stick to a well proven method and trade it accordingly.
(Note: He was posting in hindsight...nothing was proven)
3. At the end of the day it is the person executing the system and not the system itself that generates the profits. Discipline, determination and an unwavering belief in your self are the vital ingredients to successful trading. Once you have worked out a well planned method, trading is a very boring occupation having to execute the trading plan in a monotonous, emotionless and objective fashion.
_________
The above are already common place knowledge but so few actually follow or practice.
Maybe that's what Mel was trying to prove from the beginning...to take the above 3 very seriously because they will often decide if your profitable or not.
Summary:
Mel created critics here at ET...he never provided proof of his system to critics that weren't even members of any discussion forums...he taught us things we are the deciding factor...not the system.
His methodololgy (whatever is is) was profitable in this hindsight journal.
TOTAL POINTS FOR MONTH +23.5 points/contract
44% win rate
P.S. There was a Mel that appeared in one of the trading chat rooms several days after the Mel in this journal stopped posting.
However...that Mel in the realtime chat room only posted for 2 trading days...about 5 trades...all losers around -25 points...then that Mel also dissappeared as suddenly as he appeared.
Could it be the same Mel of this journal???
Stay tune and don't turn that channel.
NihabaAshi