Emini S&P 500 Day Trading Journal

[brownsfan019 17]

IMO you'll find that your strategy is great, until it's not and that 1 loss wipes you dry.

 

If you go along the lines of 'simple math', what happens if you go long at the high of a trend and then just keep averaging down? What happens if that doesn't revert back like you expect? In the end, it's still risking $4000 to make $50, no matter how you slice it up.

 

I think you will have a very high win rate but that only tells a fraction of the story.

[emg 12]

Good Morning Traders. plan on going short at 1170.25

[emg 12]

Good Morning Traders. plan on going short at 1170.25

 

filled at 1170.25. looking for 1pt profit target

[emg 12]

filled at 1170.25. looking for 1pt profit target

 

1 point proft at 1169.25

[Tams 20]

..... ..... ..........

Edited March 29, 2010 by Tams

[emg 12]

no signal yet. do not know whether to go long or short. chop

[emg 12]

shorted 1170.25. looking for 1pt profit

[emg 12]

shorted 1170.25. looking for 1pt profit

 

1 Point Profit. maybe done for today if the market chops

[MightyMouse 12]

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.

[emg 12]

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.

[MightyMouse 12]

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?

[emg 12]

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.

[MightyMouse 12]

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.

[emg 12]

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.

[MightyMouse 12]

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?

[emg 12]

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?

 

yes sir!. becauuse the odd of hitting my old profit target at 1169.25 is slim vs 1171.25. And when the fund exit their positions, the market may not drop passed the 50% retracement level. therefore, the 1171.25 is in within the 50% retracement

[emg 12]

yes sir!. becauuse the odd of hitting my old profit target at 1169.25 is slim vs 1171.25. And when the fund exit their positions, the market may not drop passed the 50% retracement level. therefore, the 1171.25 is in within the 50% retracement

 

 

that is the reason why i do not place my stop because the funds manager needs to exit their positions.

[MightyMouse 12]

yes sir!. becauuse the odd of hitting my old profit target at 1169.25 is slim vs 1171.25. And when the fund exit their positions, the market may not drop passed the 50% retracement level. therefore, the 1171.25 is in within the 50% retracement

 

 

Do you always start with 1 contract?

[emg 12]

Good Morning Traders! Plan on going short at 1171.50

[emg 12]

Good Morning Traders! Plan on going short at 1171.50

 

 

Moving my order to 1171.75

[emg 12]

Moving my order to 1171.75

 

 

Filled at 1171.75 on 1 contract. looking for 1point profit.

[emg 12]

Filled at 1171.75 on 1 contract. looking for 1point profit.

 

Im out 1 point profit

[emg 12]

Do you always start with 1 contract?

 

yes sir. i start with 1 contract

[emg 12]

i may go short soon. maybe in the area between 1176-1174

[emg 12]

Plan on going short at 1175.00