Trader P/L 2006 Questions and Discussion
- Thread starter polpolik
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Why lay off the trades I would usually take? I felt the "pressure" of reporting results here, purely self-imposed. What would anyone care if I took ten turns and made/lost money in the end?
Performance pressure is a very real part of trading, and it is always self-imposed. Very seldom do I take that many ER trades and not make money in the end, just the way tapes unfolded so far. Trading a more conservative approach in ES and the fact of public scrutiny on a day-by-day basis did affect my decision process in real life.
In the end, trading is all in our minds. The world is not out to get us... in reality, the world cares a lot less about any one of us than our egos would like to believe (heary laugh)
Best Trading Wishes [/B][/QUOTE]
Hey Austin,
Do you think that trying to move all those ES contracts has messed with how you trade your system? Do you think you have a new learning curve by trading that many contracts? I'm kind of interested to see as it would seem to be the same kind of process I have to go through as a new trader with my immediately fillable positions. Interested in watching your progress.
JIM
Performance pressure is a very real part of trading, and it is always self-imposed. Very seldom do I take that many ER trades and not make money in the end, just the way tapes unfolded so far. Trading a more conservative approach in ES and the fact of public scrutiny on a day-by-day basis did affect my decision process in real life.
In the end, trading is all in our minds. The world is not out to get us... in reality, the world cares a lot less about any one of us than our egos would like to believe (heary laugh)
Best Trading Wishes [/B][/QUOTE]
Hey Austin,
Do you think that trying to move all those ES contracts has messed with how you trade your system? Do you think you have a new learning curve by trading that many contracts? I'm kind of interested to see as it would seem to be the same kind of process I have to go through as a new trader with my immediately fillable positions. Interested in watching your progress.
JIM
To trade CSCO with charts today... Good luck. An opening f*ck-you-in-the-a$$-because-im-crossing-10-million-shares move...
And the rest of the day, no volatility. Very nice.
Anyway, im very happy with my day. I should've stayed away from PFE though.
I know this kid who used to play Starcraft:Broodwars back in the day. He was so damn good. I could swear had he started trading the same day as me, he could've outperformed me 2 or 3-fold by now. It has something to do with adaptation. That's all these markets are. Don't forget; I never claimed to be a good investor. But I know how to trade.
FYI - i dont play video games anymore.
And the rest of the day, no volatility. Very nice.
Anyway, im very happy with my day. I should've stayed away from PFE though.
I know this kid who used to play Starcraft:Broodwars back in the day. He was so damn good. I could swear had he started trading the same day as me, he could've outperformed me 2 or 3-fold by now. It has something to do with adaptation. That's all these markets are. Don't forget; I never claimed to be a good investor. But I know how to trade.
FYI - i dont play video games anymore.
<i>"Hey Austin,
Do you think that trying to move all those ES contracts has messed with how you trade your system? Do you think you have a new learning curve by trading that many contracts? I'm kind of interested to see as it would seem to be the same kind of process I have to go through as a new trader with my immediately fillable positions. Interested in watching your progress. JIM"</i>
Good question, answer is "somewhat". I've traded 100-lot ES size for myself before, so 50+ isn't much of a deal. But... ES requires a different approach than ER overall. ER makes a lot wider swings and more of them most days than ES. Tougher to trade, but more forgiving of mistakes.
ES requires more precise trading, because it trades narrow swings and lots of noise in between. When I tried to trade ES in ER fashion last Thursday (11/02) in a dead range, -8pts was the result. Never repeat that mistake again.
By the same token, trying to be too conservative with ER misses the big swings and/or that one last trade which runs deep.
Similar markets, very different chart behavior. Trading each side by side may be akin to trading GOOG and GE. Similar analogy.
Do you think that trying to move all those ES contracts has messed with how you trade your system? Do you think you have a new learning curve by trading that many contracts? I'm kind of interested to see as it would seem to be the same kind of process I have to go through as a new trader with my immediately fillable positions. Interested in watching your progress. JIM"</i>
Good question, answer is "somewhat". I've traded 100-lot ES size for myself before, so 50+ isn't much of a deal. But... ES requires a different approach than ER overall. ER makes a lot wider swings and more of them most days than ES. Tougher to trade, but more forgiving of mistakes.
ES requires more precise trading, because it trades narrow swings and lots of noise in between. When I tried to trade ES in ER fashion last Thursday (11/02) in a dead range, -8pts was the result. Never repeat that mistake again.
By the same token, trying to be too conservative with ER misses the big swings and/or that one last trade which runs deep.
Similar markets, very different chart behavior. Trading each side by side may be akin to trading GOOG and GE. Similar analogy.