Trader P/L 2010
- Thread starter Robert Weinstein
- Start date
Decent slow day.
+1156.50
Great day! ES is getting back into my good graces.
Great day! ES is getting back into my good graces.
+$10.80 trading 1 ES contract.
What a damn noob I am ! Took 2 non-system plays like a dummy to try and catch that EOD move up after the consolidation around 3:30-3:45est ish. Of course, I traded on feel rather than system entries. And of course I lose 3 points in the process getting chopped up.
Then, low and behold my system generates an entry right before it skyrockets to get my 3 points back but finish even on the day.
+1.25 points gross, but there was a lot of stupid trading by me.
This is why I'm not consistantly profitable yet
What a damn noob I am ! Took 2 non-system plays like a dummy to try and catch that EOD move up after the consolidation around 3:30-3:45est ish. Of course, I traded on feel rather than system entries. And of course I lose 3 points in the process getting chopped up.
Then, low and behold my system generates an entry right before it skyrockets to get my 3 points back but finish even on the day.
+1.25 points gross, but there was a lot of stupid trading by me.
This is why I'm not consistantly profitable yet
-360.
With a couple of my strategies in cash and few trades meeting my criteria for my long/short, I tried an ETF day trade, and a day trade in a strategy pick that was too high risk for my normal trade. Both losers. I suck as a day trader and that's why I rarely take such trades. The risk/reward on the higher risk trade was justified and for ETF's I need to do more preparation so I can trade these in line with what works for me.
With a couple of my strategies in cash and few trades meeting my criteria for my long/short, I tried an ETF day trade, and a day trade in a strategy pick that was too high risk for my normal trade. Both losers. I suck as a day trader and that's why I rarely take such trades. The risk/reward on the higher risk trade was justified and for ETF's I need to do more preparation so I can trade these in line with what works for me.
+$84.30 , +2.25 points trading 1 ES contract
Well, I have a headache so I'm quitting early to go take a nap before I have to go work tonight.
All I have to say about today is I no longer have fear of entering trades like I had before. Its just a mindset I had to get over. I have an edge, its just a matter of executing it. My new problem is trade management. I need to work a LOT more on this. I left a lot of points on the table today.
Most of the trade management I'll get from experience. Need to gain experience in holding certain entries, so I can understand when to adjust profit targets. Right now, I'm a newb at this as my edge is well defined, but my trade management is very sloppy and ridden with some fear based exits.
Well, I have a headache so I'm quitting early to go take a nap before I have to go work tonight.
All I have to say about today is I no longer have fear of entering trades like I had before. Its just a mindset I had to get over. I have an edge, its just a matter of executing it. My new problem is trade management. I need to work a LOT more on this. I left a lot of points on the table today.
Most of the trade management I'll get from experience. Need to gain experience in holding certain entries, so I can understand when to adjust profit targets. Right now, I'm a newb at this as my edge is well defined, but my trade management is very sloppy and ridden with some fear based exits.
I suggest that you keep a detailed journal of your trades. You'll learn from your experience quicker if you are keeping close track of what matters. For a time I wasn't sure if it was better to wait until my regular exit signal, or take a profit target. So for a time I did both. I then did some testing to simulate this, then checked the smaller sample of real data - both agreed. For this strategy the profit target was generally the lower exit price and the average trade without the profit target exit was higher by a not insignificant amount. So now I don't use it.
Decent day.