ES Trading Journal

[new_trader]

1)
sell 1@743.00
buy 1@744.25
----------------
(1.25)

2)
sell 1@742.25
buy 1@743.75
----------------
(1.25)

3)
sell 1@741.50
buy 1@743.75
----------------
(2.25)

4)
sell 1@746.25
buy 1@745.00
----------------
1.25

5)
sell 1@745.50
buy 1@743.50
----------------
2.00

I can't help think I'm a better scalper than holder. Trade 1 & 3 would be like trade 4 & 5 which are typical results of about 5/6 trades when I close them in profit. Trades 1,2,3 are typical of when I try and hold. The market dipped into the high 730's I was anticipating a move into the low 730's. Trade 3 closed with a bad fill and I don't know why it took so long for my order to be filled, that explains the extra 1 point loss.

So there is the market @734.75 yet every attempt to short it was met with an objectionable rally. You know what I'm thinking?? If only I'd held onto trade 11!!😆

6)
sell 1@746.50
buy 1@746.00
-------------
0.50

7)
sell 1@743.25
buy 1@745.00
-------------
(1.75)

8)
sell 1@745.00
buy 1@746.75
-------------
(1.75)

9)
sell 1@745.50
buy 1@745.00
-------------
0.50

10)
sell 1@747.50
buy 1@748.75
-------------
(1.25)

11)
sell 1@749.75
buy 1@748.00
-------------
1.75

12)
sell 1@744.25
buy 1@746.00
-------------
(1.75)

13)
sell 1@743.50
buy 1@742.25
-------------
1.25

 

[new_trader]

market @733.75

 

[new_trader]

For the moment I think this journal has served its purpose, for me anyway. So until I have reason to revisit it again I won’t be making any further updates. Thanks to those who contributed and for the star votes!

 

[JRP2891]

Good luck with it all.

 

[new_trader]

Good luck with it all.

Holding trades longer. I'm convinced 👍

Courage, resolve and faith in my own judgement!

 

[new_trader]

09-03-2009

1)
Sell 1@674.75
buy 1@676.00
-------------
(1.25)

2)
sell 1@676.00
buy 1@673.75
-------------
2.25

Last week was good, mostly profitable and this morning’s trade is an example of what I have been able to achieve. I realise that I should have been paying much more attention to what I know, what I am good at, and most importantly, lessons of the past. How could I have neglected intent!

Intent is the key!

I entered a little early on the 1st trade but the market moved to 671.25 on the second trade which I closed a little early. But that doesn’t matter because it’s only a matter of more time, study and practice. Market @671.25 now.

"My plan of trading was sound enough and won oftener than it lost. If I had stuck to it I’d be right perhaps as often as seven out of ten times. In fact, I always made money when I was sure I was right before I began. What beat me was not having brains enough to stick to my own game – that is, to play the market only when I was satisfied that precedents favoured my play."

-Jesse Livermore

 

[JRP2891]

I think you should keep posting your results, that's if you still want to of course.

 

[new_trader]

I think you should keep posting your results, that's if you still want to of course.

It isn't really about whether I want to or not. I think I will post when I see is serves a purpose rather than just posting for the sake of it.

 

[new_trader]

20-03-2009

sell 1@779.75
buy 1@777.75
----------------
2.00

Holding trades longer, trailing STOPS better 👍

Figuring is right 5/6 trades 👍

I'd be a full time trader NOW if I had more faith in my own judgement..

 

[HaloTrader]

How are you trading New_trader?
Technical analysis and personal methodology for confirmed entries... Or, from the look of your journal - 1-minute chart breakouts?

 

[new_trader]

I thought I might update my journal since it has been a while since I visited this site. Naturally, all my hard work, study and practice is paying dividends despite the countless number of ‘expert’ members here that tried to convince me (and others!) that it is a waste of time, asserting (confidently!) that there is nothing to be gained from study, or similar clueless rhetoric to that effect. They can remain in the “Trading isn’t rocket science” brigade and continue to bluster about pretty coloured lines and shapes and magic formulas for all I care. They treat ignorance and stupidity as if it is a virtue, boasting about the little they know about the markets and proving it by posting countless pretty pictures with detailed colourful annotations. It wouldn’t be so bad if they only prevented themselves from progressing beyond their mediocre ability, and taking stabs in the dark with their hit-and-miss trading philosophy, but the problem is that they continue to do their best to prevent and ensure that others don’t progress either. That is the real tragedy!😢

My trading and forecasting continues to improve and I have kept a record whenever I got the chance on twitter to measure my performance. I made the greatest discovery only a few months ago and since then I have gained much more confidence in my figuring.:smart:

EVERYTHING IS KNOWN AND PLANNED IN ADVANCE...when will those pretty coloured line people understand!? Same goes for those ‘NEWS’ traders (not to be confused with new_trader! 😆)

http://twitter.com/escontract

I have attached some charts to keep the pretty coloured line people amused 😆

 

[new_trader]

I am still in the trade and the market is now in the mid to high 1180's, exactly as I said would happen yesterday morning. Everything is known in advance.:smart:

http://twitter.com/escontract

 

[new_trader]

Keeping Stops Tight

If you are in the “Pretty coloured line trading isn’t rocket science” camp, then please stop reading this journal and join one of those ‘Trading system’ or ‘Set-up’ threads that proliferate this site, if you are not, then keep reading.

It is important to keep your stops tight. A stop is your crucial safeguard and as a newbie you must fiercely control losses during the process of learning when to enter and exit trades. Trading is a skill that must be learned and it takes time, lots of time, study and practice. You will make many mistakes along the way but a tight stop ensures that you will last in the game long enough to become proficient at picking winning moves right from the start.

:!:N.B:Stop size has absolutely nothing to do with ‘timeframes’, risk/reward ratios or any other magic formulas.

 

[new_trader]

I am still in the trade and the market is now in the mid to high 1180's, exactly as I said would happen yesterday morning. Everything is known in advance.:smart:

http://twitter.com/escontract

I had a good day today. After checking my open position this morning, replying to emails and checking my other investments I went to the gym and had a nice vigorous workout. After my workout I relaxed in the sauna, steam room and finally the jacuzzi. When I got back home I checked the market again and saw that it was acting exactly as I figured it should, so I left it alone. I practiced piano, had my dinner and then relaxed with some TV while keeping a close eye on what was happening in the market. I enjoy watching it, especially when I am in a profitable position. I have closed this trade now for a nice 15 point profit. I don’t particularly like holding a long position over a weekend or holidays.

When you do things exactly right, the market does all the hard work for you.

 

[pmccandless]

Hey man I like the words of wisdom. It sounds like you've come a long way and have realized what it really takes to be on the profiting side of the market. Congrats to that. My mentor told me, "Becoming a consistently profitable trader is not an event, but a process." You put in the hard work and it WILL pay off...

 

[new_trader]

Hey man I like the words of wisdom. It sounds like you've come a long way and have realized what it really takes to be on the profiting side of the market. Congrats to that. My mentor told me, "Becoming a consistently profitable trader is not an event, but a process." You put in the hard work and it WILL pay off...

Most importantly, it is an experiential process and cannot be taught. You have a very wise mentor. You will go far in this game with your attitude. Keep at the work!

 

[new_trader]

This was a trade which would have yielded more profit but turned into a 'scalp' when I discovered that I had accidentally left some development code in my trading application🙁 (which explains the second lot of 'trades')

First trade was entered at the right time using a market order and a tight stop and I'm not about to complain about a profit! 🙂

I doubt that this Goldman Sachs 'NEWS' is going to impact the market significantly. I could be wrong, but the market isn't doing anything extraordinary (yet!)...maybe it is for the pretty coloured line traders...get excited! 😆

sell@1188.00
buy@1187.00
----------------
1.00

 

[new_trader]

Market @1200.50 and according to my figuring it should advance another 5-6 points from that level. I may have misjudged my entry and trailed my stop too quickly on the 2nd trade but still ended up with a profit, not magnificent, but my figuring was 100% right.

Trade 1
buy@1199.75
sell@1198.50
---------------
(1.25)

Trade 2
buy@1198.75
sell@1200.75
---------------
2.00

 

[new_trader]

Market @1200.50 and according to my figuring it should advance another 5-6 points from that level. I may have misjudged my entry and trailed my stop too quickly on the 2nd trade but still ended up with a profit, not magnificent, but my figuring was 100% right.

Trade 1
buy@1199.75
sell@1198.50
---------------
(1.25)

Trade 2
buy@1198.75
sell@1200.75
---------------
2.00

Exactly as I figured.:smart:

 

[The Expert]

NT,

I have a chart that shows the entry for 22nd @ 1194 and exit @ 1206.

Would you like me to send you a link by PM, as I do not want to post a chart in your journal, which, is very good btw.👍

TE