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Old 03-29-2010, 11:42 AM   #33
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Re: My ES Emini S&P 500 Day Trading Journal

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shorted 1170.25. looking for 1pt profit
1 Point Profit. maybe done for today if the market chops
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Old 03-29-2010, 12:09 PM   #34

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Re: My ES Emini S&P 500 Day Trading Journal

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1 Point Profit. maybe done for today if the market chops
Have you ever thought of trying it the other way? So, risking $50 and if it goes in your favor keep adding until you have a gain of $4000.
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Old 03-29-2010, 12:27 PM   #35
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Re: My ES Emini S&P 500 Day Trading Journal

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Have you ever thought of trying it the other way? So, risking $50 and if it goes in your favor keep adding until you have a gain of $4000.
I have been doing this for 4 yrs. My system went thru when the stock market crashed in 2008. In fact, i traded more when the ES was averaging 40 pts per day and I had no stop and looking for 1pt profit target. That said, the volatility now vs the stock market crashed 2008 is like trading oats futures. Too slow.

The key to day trade futures market especially es, is to trade with no fear.
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Old 03-29-2010, 12:44 PM   #36

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Re: My ES Emini S&P 500 Day Trading Journal

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I have been doing this for 4 yrs. My system went thru when the stock market crashed in 2008. In fact, i traded more when the ES was averaging 40 pts per day and I had no stop and looking for 1pt profit target. That said, the volatility now vs the stock market crashed 2008 is like trading oats futures. Too slow.

The key to day trade futures market especially es, is to trade with no fear.
Risking 80 to make 1, you're accuracy has to be better than 98%. At 98% you'll go broke most of the time. If you don't go broke right away, you will eventually. Are you simming or trading live?
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Old 03-29-2010, 01:19 PM   #37
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Re: My ES Emini S&P 500 Day Trading Journal

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Risking 80 to make 1, you're accuracy has to be better than 98%. At 98% you'll go broke most of the time. If you don't go broke right away, you will eventually. Are you simming or trading live?
trading live for 4 yrs my friend. Traded when the es was at the historical volitility year (2008) constantly even traded when my brokerage server bust every other week due to historical volitlity in 2008.
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Old 03-29-2010, 01:38 PM   #38

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Re: My ES Emini S&P 500 Day Trading Journal

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trading live for 4 yrs my friend. Traded when the es was at the historical volitility year (2008) constantly even traded when my brokerage server bust every other week due to historical volitlity in 2008.
Cool, so you are probably doing better than 98%.

When you do add, because it is going against you, do you take a point on all the contracts? Do you try to get out BE? I am truly curious about how you manage it.
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Old 03-29-2010, 03:25 PM   #39
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Re: My ES Emini S&P 500 Day Trading Journal

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Cool, so you are probably doing better than 98%.

When you do add, because it is going against you, do you take a point on all the contracts? Do you try to get out BE? I am truly curious about how you manage it.
I take a point on all contracts. let me give an example on today trade. i went short 1170.25. The reason why i chose 11701.25 is because the uptrend began at 1165.25 which means fund managers are buying and believe that the fund manager will begin to take profit above 1169.25. If the fund managers continue to the uptrend, i plan on adding at 1174.25. I believe at that point, the fund managers exit their long positions.
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Old 03-29-2010, 03:41 PM   #40

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Re: My ES Emini S&P 500 Day Trading Journal

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I take a point on all contracts. let me give an example on today trade. i went short 1170.25. The reason why i chose 11701.25 is because the uptrend began at 1165.25 which means fund managers are buying and believe that the fund manager will begin to take profit above 1169.25. If the fund managers continue to the uptrend, i plan on adding at 1174.25. I believe at that point, the fund managers exit their long positions.
So, for simplicity's sake, if you short 1 at 70.25 and it reaches 74.25, and you short 1 more, you have an avg price of 72.25 on 2 contracts. Do you, now, target, getting out at 71.25 to make a point on 2 contracts? Even if this isn't exactly how you do it?
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