Techniques for Day Trading the ES, NQ, YM, MES, MNQ, and MYM

I may not post any charts tomorrow. I have been invited with the wife to eat the evening meal at a Brazilian Steakhouse…Texas de Brazil. The folks who invited us just happened to catch us in a receptive mood! The folks are not money people and the restaurant is pricey for the evening meal but it is something they wanted to do for us. In the good book I believe it says “give and it shall be given” and “it is more blessed to give than to receive” and “if you sow sparingly you shall reap sparingly, if you sow bountifully you shall reap bountifully.”

So, it will come back to those kind folks in some form, or the other.

I do not want to arrive at the restaurant brain tired from annotating charts…and explaining things. It is more work doing so than I reckon most people realize.

I hope to be back to posting soon. But just thinking of that Brazilian Steakhouse can make a hungry mans belt buckle slap his backbone!
 
volpri said:
I may not post any charts tomorrow. I have been invited with the wife to eat the evening meal at a Brazilian Steakhouse…Texas de Brazil. The folks who invited us just happened to catch us in a receptive mood! The folks are not money people and the restaurant is pricey for the evening meal but it is something they wanted to do for us. In the good book I believe it says “give and it shall be given” and “it is more blessed to give than to receive” and “if you sow sparingly you shall reap sparingly, if you sow bountifully you shall reap bountifully.”

So, it will come back to those kind folks in some form, or the other.

I do not want to arrive at the restaurant brain tired from annotating charts…and explaining things. It is more work doing so than I reckon most people realize.

I hope to be back to posting soon. But just thinking of that Brazilian Steakhouse can make a hungry mans belt buckle slap his backbone!
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You ever been to one?

Best advice I can give is fast as long as possible going in. So much protein it still won't take long to get full! Hopefully they do the lamb with pesto edging like last time I went to one.

Too many good cuts of meat...

Enjoy friend!
 
Relentless said:
You ever been to one?

Best advice I can give is fast as long as possible going in. So much protein it still won't take long to get full! Hopefully they do the lamb with pesto edging like last time I went to one.

Too many good cuts of meat...

Enjoy friend!
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I have been to many steakhouses but never the Texas de Brazil. My first trip there. I will eat a very late and light breakfast tomorrow that will also double as a lunch …in preparation for the evening meal! Thanks for the advice!
 
volpri said:
To go from 30 to 720 shares averaging down you were apparently trying to salvage a loss. You must have had MULTIPLE long entries. A trader cannot be averaging down to avoid a loss. Averaging down is a strategy I use for scalping. What was the larger, intermediate, and immediate context at the time you were averaging down? The three contexts are very important to using the technique correctly.

If you don’t know or understand these things then you are blindly just averaging down and that, if done enough times, will decimate your account. In addition, you have to have an exit strategy at ALL times if things go wrong and a way to quickly get back any loss incurred from averaging down.

If I could see a chart with your trades as you averaged down I could likely tell you what went wrong and why. If you were averaging down 30 shares at a lick then you must have had 23 more times of 30 shares of adding to your losing position after your initial entry. If so, that in no way embodies what I speak of in this journal when I speak of averaging down. You were lucky to get back 90% of your loss. What TF were you trading? What were the contexts?
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You are right on when you say I was lucky to get back 90% of my loss and I really appreciate your offer to analyze the trade for me but it is in the past and was a bad mistake and I just want to go forward from that day. Since July 27th, trading has gone much better with only 1 losing day and have increased trading size to 40 shares.
 
volpri said:
Sorry bout that. I think I might be on the fringe of things too!
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No might about it. Your trading style is definitely "ondafringe". lol

As to the other, we'll chalk it up as a "senior moment." I've had a few of those myself, as I am well into my senior years, too! :)
 
Illini Trader said:
You are right on when you say I was lucky to get back 90% of my loss and I really appreciate your offer to analyze the trade for me but it is in the past and was a bad mistake and I just want to go forward from that day. Since July 27th, trading has gone much better with only 1 losing day and have increased trading size to 40 shares.
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Good. Glad things are doing better.

I have a question. That concoction you told me to mix up for tomatoes. Will that powdered milk bring the ants out of hiding? They love to pillage my okra blossoms. I considered putting the concoction around the okra plants but if ants will multiply…I don’t know? It is those tiny fire ants that bite like an alligator.
 
ondafringe said:
No might about it. Your trading style is definitely "ondafringe". lol

As to the other, we'll chalk it up as a "senior moment." I've had a few of those myself, as I am well into my senior years, too! :)
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I have been having too many of those moments myself lately!
 
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