Trader P/L 2009 - Page 67

MidKnight · 06-01-2009, 09:05 PM

Sure Hal, I'm just trying to get a feel if your profits are the result of the noise you mentioned - that is all. I knew one ER2 trader who traded like that - exits were within the noise but stop was clear of it.

brownsfan019 · 06-02-2009, 12:45 AM

Quote:

Originally Posted by Robert Joyce »

Brownsfan, can you tell me something about how you decide to bail on certain trades. Today it looks as though you made a number of trades that you decided weren't going to reach your target exits, but great trade on the ZB, I assume that is a currency trade.

Robert - Good question and observation. Something I meant to discuss...

Basically the premise on these scratch trades (taking out for +1 tick to cover commissions on the trade) are when price reaches 50% of my profit target, stop is moved to be+1.

The goal is to minimize the impact of losses, although it can (and does) tick me out of trades that move in my favor in hindsight. After reviewing some past trades, I wanted to see if I could keep losses to a minimum and catch the nice moves on the trades that work. Today was a good example where the ZB (which is a bond future btw) had a nice setup and the others didn't quite get to where I was shooting for.

brownsfan019 · 06-02-2009, 12:47 AM

Here's a thread that discusses trading bond futures, which I would highly recommend taking a look at.

hedonQ · 06-02-2009, 06:30 AM

... half-decent trading day. Although pnl does not reflect it, I stuck to my game plan on all trades. To follow the process is the key.

Trade 2 and 3 were a product of my imagination or too much anticipatory in nature.
Trade 4 is the same as far as setup, but there's a key difference. I could see it in the price.

Don't be creative when you trade, read the price, keep ti simple. If you want to be creative take up basket weaving or something.

Good Luck.

bathrobe · 06-02-2009, 11:28 AM

Done by 10:30est. Size back.

brownsfan019 · 06-02-2009, 11:59 AM

Looks good bath! What changed - just increased size? Not a bad morning!

brownsfan019 · 06-02-2009, 12:03 PM

6-2-09

Pretty good day here all around. Missed a few trades again, but better.

thalestrader · 06-02-2009, 12:32 PM

Quote:

Originally Posted by bathrobe »

Done by 10:30est. Size back.

Well played, B.R., well played!

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The Following 4 Users Say Thank You to brownsfan019 For This Useful Post:
bathrobe (06-02-2009), Robert Joyce (06-02-2009), thalestrader (06-02-2009), ZenMachine (07-31-2009)

The Following User Says Thank You to brownsfan019 For This Useful Post:
Robert Joyce (06-02-2009)

The Following 2 Users Say Thank You to hedonQ For This Useful Post:
bathrobe (06-02-2009), brownsfan019 (06-02-2009)

The Following 5 Users Say Thank You to bathrobe For This Useful Post:
brownsfan019 (06-02-2009), HAL9000 (06-02-2009), MCM (06-02-2009), Robert Joyce (06-02-2009), thalestrader (06-02-2009)

The Following 4 Users Say Thank You to brownsfan019 For This Useful Post:
bathrobe (06-02-2009), HAL9000 (06-02-2009), Marsupilami (06-02-2009), Robert Joyce (06-02-2009)

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