T-REX Journal

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Good morning.

You all have some very good questions this morning.

Simply put. the 30 point profit target is not a typo nor is it a "Day Trade". This is a trade Im looking to hold into next week if filled. I plan to trail the stop and hold the position for 2-3 days or more if I don't get stopped out.

I hope that cleares up today's methodology?

:) :) :)
 
T-rex,

Please remember you are posting in a public forum. How were we to know you were holding 1 week. You never explained this.

Is this a game to you?


We are dead serious traders here at Elite...........


Michael B.
 
Quote from ElectricSavant:

T-rex,

Please remember you are posting in a public forum. How were we to know you were holding 1 week. You never explained this.

Is this a game to you?


We are dead serious traders here at Elite...........


Michael B.
More...

I will try to be more clear about this in the future.
I didnt think that you would assume that I would set such a wide stop on a "Day Trade". My stop-loss on "Day Trades"/ "GAP-MOVE" days are between 4.25 - 7.25 points. On "ALL" other day types I use "Volatility Stops".

NOTE: I still use the "3pt rule" regardless of the trade day set up.
In other words if if doesnt look like it will go and/or I feel unconfortable with the trade I will "pull-it".
Also, if decide to use "descretion" on any given trade I will express that in realtime ahead of doing so so that it does not appear to be FALSE. Im running a clean shop here and I dont want to deviate from my original purpose of bringing Honest, Truthful Realtime trade entries to this thread. Unlike some who claim to have moved a stoploss or widend a profit target after the fact.

MY MAIN PURPOSE HERE IS TO PROVE MY METHODOLOGY IN REAL TIME SO THAT THE WORLD CAN SEE THAT YOU CAN TRADE AND MAKE A LIVING.....A HUGE LIVING!!!!

IT CAN BE DONE!
IT WILL BE DONE IN THIS JOURNAL!

:D :)
 
If you think it will be more helpful for me to post my overall intention on each trade as far as "HOLDING" time I will do so.
Just let me know.

Thanks

T-REX
:)
 
You are double talking.


I confirmed the trade with you.....read your response to my earlier confirmation of the "DAYTRADE". it use the full volatility stop and the target......what the HELL is it now!!!!!!

Michael B.
 
09-05-03 04:27 AM
Re: Thursday 09/04/03 PM Entries for the 09/05/03 ES trading Day


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Quote from ElectricSavant:

T-Rex,

Just to confirm.

Enter in 2 orders......and wait for the fill:

short 1019.75
long 1031.00


after the fill.........cancel the open order and bracket in the 3 point target and the 11.25 stop.

then if filled with the stop or target cancel the open order and quit for the day......if not exit at MOC and wait for your next PM post for Sunday Entries.

This is too simple

Michael B.
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You are correct.



I made your response bold for your response for reference
 
Quote from ElectricSavant:

You are double talking.


I confirmed the trade with you.....read your response to my earlier confirmation of the "DAYTRADE". it use the full volatility stop and the target......what the HELL is it now!!!!!!

Michael B.
More...

Its jackass tv -

but then I've seen some interesting studies on folks tryin to lose only ending up coming out on top - bizarre !
 
T_REX,
How large is your account and how much of it do you risk on each trade? What has you largest drawdown been on a monthly basis? How many consecuative months where losing?

I am just trying to figgure out how practical this method is trading for a living?
 
Quote from T-REX:

If you think it will be more helpful for me to post my overall intention on each trade as far as "HOLDING" time I will do so.
Just let me know.

Thanks

T-REX
:)
More...

If you are posting trades then of course it makes sense to give the overall intention of 'each' trade, unless you post an exact plan that encompasses all trades and leaves no room for ambiguity whatsoever. This should include entry, potential target, timeframe, stop etc... If you enter or exit a trade that was not part of your original plan, then you should say so here immediately, not an hour later or at the end of the day. Otherwise this journal is meaningless.

Ambiguity is one of the tools of salesmen/chatgurus and we all know that you have no intention of ever pointing us towards a website where your methods/trades are for sale.
 
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