The Tao of Minimalistic Trading: $300 Daily Profit

[Aj2014]

schiz has best journal here...why...no avg guy can withstand a b1s2 drawdown.

shiz gets in and out quik, and avg guy is not scared off.

You don't need to convince any of us!
He's the only person I 'follow' on the whole of elite. It's rare that someone can 'walk the walk' and is not just an expert 'in theory' or with the benefit of hindsight.
But nobody reads this thread to read your nonsense. Start your own journal

I remember you done quite a good job of ruining this journal which I was enjoying, too:
http://www.elitetrader.com/et/index.php?threads/el-bastardo-nq.289121/

 

[Magna]

Today's posts have been cleaned up and jimmie will be taking a short vacation from this thread. If and when he returns we will see if that temporary turns into a permanent.

 

[Redneck]

It's really tragic that I lack the balls to stick with my own plan. But what a great call. LOL

Your journal is all about the way (tao) of consistency - yeah

RN

 

[VPhantom]

I just crunched the numbers. It appears that I've never crossed the daily loss limit of 6 points.

Quick question though: what's the point of defining a maximum daily loss if you're not aware of your P&L before you enter a trade?

I rarely look at my P/L before the day is up. It's too much distraction.

I agree there, however one of your rules depends on it, so there's a conflict to resolve...

(I was going to ask jimmie where he finally dumped his large loss long, but it looks like that's been taken care of.)

 

[schizo]

I have a overnight short which is still open that I've posted earlier on another thread. (Click on the "up arrow" in the quotation to be taken to that post.)

Short ES 1944.50

Stop loss 1947

Profit target 1876

*Edit: profit target changed to 1921 1918.75
**Edit: stop loss lowered to 1932.75

I still see 1876 as the downside target.

 

[schizo]

Quick question though: what's the point of defining a maximum daily loss if you're not aware of your P&L before you enter a trade?

I don't have the exact number in my head as I trade, but like a floor trader who's been in the game for a long time, I have a pretty good ballpark estimate.

I agree there, however one of your rules depends on it, so there's a conflict to resolve...

Likewise. But current market volatility! This is like gift from God.

By all means, I plan to go back to my initial rule or premise once the dust settles.

 

[schizo]

1918 is the make-or-break point of the day. If we crack below, things can get pretty nasty, invalidating the last 2 days of rally.

 

[schizo]

I have a overnight short which is still open that I've posted earlier on another thread. (Click on the "up arrow" in the quotation to be taken to that post.)

Short ES 1944.50

Stop loss 1947

Profit target 1876

*Edit: profit target changed to 1921 1918.75
**Edit: stop loss lowered to 1932.75

Stopped out for +11.75

 

[schizo]

Long 19.25

 

[schizo]

Long 19.25

Flip short 16.75