YM journal

This is a discussion on YM journal within the Trading Journals forums, part of the Reception category; Frugi Well done on the thread and on yesterdays profit. You seem as though you have a similar problem to ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Jan 22, 2004, 2:06pm   #15
 
stevem12's Avatar
Joined Jun 2003
Frugi

Well done on the thread and on yesterdays profit. You seem as though you have a similar problem to me, all too often trading against the trend!

But you`ve also shown how when using direct access a profit can still be made, when I first started I was trading like that with Fins and D4F imagine how different your P/L for yesterday would`ve looked via one of them

Keep up the good work and posts , and never forget the ONLY way to eat an elephant is one bite at a time.

A small profit still puts you in the 5%

Steve
stevem12 is offline   Reply With Quote
Old Jan 22, 2004, 2:09pm   #16
 
ChartMan's Avatar
Joined Nov 2000
Quote:
Keep up the good work and posts , and never forget the ONLY way to eat an elephant is one bite at a time.


That HAS to be quote of the month!!
__________________
The views expressed here are my personal views and for your information only. Any expression of likely movement of a share is merely guesswork and is to be treated as such.This information must NOT be used as a basis for making any investment decision.
ChartMan is offline   Reply With Quote
Old Jan 22, 2004, 9:20pm   #17
Joined Sep 2003
Frugi,
Really looking forward to this thread. My new trading PC arrives in less than 2 weeks so I'll be with you in the market learning as I go.
I notice there's been some negative comment all ready. Ignore it,seeing someone's trades and reasoning soon after they occur must surely be a real help to all the beginners out there
cheers,
hampy
hampy is offline   Reply With Quote
Old Jan 22, 2004, 10:05pm   #18
 
frugi's Avatar
Joined Mar 2003
D'oh

frugi started this thread I made one good trade today and that was a long at 1142.50 just after the doji sandwich around 8.00. I waited to buy until the price moved above the yellow pivot line and was rewarded with two long bars up (10 min). I sold this as it reversed off the top of the channel at 1144.75.

Unfortunately I also made 17 poor or unecessary ones. This was thanks to my starting trading in the lunch hour (I had been out scaling walls during the arvo!) which swiftly pitched me into a thicket of angry whipsaws.

It's no good scalping sly quarters if there's an equal number of halves and points lost. Or, while on the subject of elephants, I would do well to remember that I cannot defecate like one if I only eat like a bird. I got away with taking quarters yesterday because I was very careful with entry and concentrating intensely. Today I was not so careful, probably a touch distracted, and before long I was down over $250 and spent the rest of a grim day chasing losses instead of staying patient and treating each trade as if I had made none previously (i.e. on its own merits).

Today was quite choppy in general so I doubt anyone found it a breeze which is a poor but slight defence. But there is no excuse for trading (gambling) after 8.45 and even after the close just to try and grab a bit back.

I also missed the TICK/RSI PD between 6.30 and 7.00. I didn't fancy shorting the double top at 8.20ish as there was no TICK divergence.

However it is worth mentioning that my loss is at least within the bounds of my trading plan - I am allowed a max loss of $400 a day (composed of $25-$175 per trade (depending on potential perceived reward)).

Today's travesty: -$162.50-(18*$4.80) = -$248.90
Day 2 running total: -$189.20

Hope you guys did better Cheers for the PM too, Rosso.
Attached Thumbnails
clipboard.gif  

Last edited by frugi; Jan 22, 2004 at 10:41pm.
frugi is offline   Reply With Quote
Old Jan 22, 2004, 10:06pm   #19
 
frugi's Avatar
Joined Mar 2003
frugi started this thread Eeuw...here's what not to do. Note the doubling up revenge trade too!
Attached Thumbnails
untitled.gif  

Last edited by frugi; Jan 22, 2004 at 10:16pm.
frugi is offline   Reply With Quote
Old Jan 22, 2004, 10:12pm   #20
 
ChartMan's Avatar
Joined Nov 2000
Yes, a hard day with nothing to get your teeth into.....
__________________
The views expressed here are my personal views and for your information only. Any expression of likely movement of a share is merely guesswork and is to be treated as such.This information must NOT be used as a basis for making any investment decision.
ChartMan is offline   Reply With Quote
Old Jan 22, 2004, 10:25pm   #21
BBB
 
BBB's Avatar
Joined Dec 2003
How much commission did you pay for that lot?
BBB is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Trading the YM with Time and Sales lurkerlurker Indices 4 May 31, 2007 10:16am

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)