2 Steps Forward 1 Step Back

Discussion in 'Journals' started by DraXon, Nov 20, 2002.

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  1. Allthough I am maybe not the right person to give advice, it seems to me you are bound to lose in these type of days due to your trailing 4 point stoploss. you might wanna put a time stoploss in as well and improve your bottomline.
     
    #31     Dec 5, 2002
  2. DraXon

    DraXon

    Today's results:

    09:44 Short ES @ 916.50
    13:43 Exit ES @ 910.50

    * Reason for entry: Trending down.
    * Reason for exit: 4 point trailing stop.

    15:01 Short ES @ 908.50
    15:57 Exit ES @ 906.50

    * Reason for entry: Downtrend continuation.
    * Reason for exit: Support area.

    Total: 8 points
     
    #32     Dec 5, 2002
  3. DraXon

    DraXon

    I've only been trading this way for about a month. There's nothing magical about this system. In fact, I wouldn't even call it a system . . . I just go with the flow.

    The only problems that I encounter with my trading are range-bound days, which at the present moment, I don't have a common sense solution for.
     
    #33     Dec 5, 2002
  4. DraXon

    DraXon

    Today's results:

    09:41 Long ES @ 898.50
    10:29 Exit ES @ 904.50

    * Reason for entry: Previous support + gap fill potential.
    * Reason for exit: 4 point trailing stop.

    11:34 Short ES @ 910.50
    14:54 Exit ES @ 910.50

    * Reason for entry: Trending up + range breakout.
    * Reason for exit: 4 point trailing stop.

    Total: 6 points
     
    #34     Dec 6, 2002
  5. DraXon

    DraXon

    I've been thinking about increasing my stops for strong trending days to capture a larger piece of the pie. We'll see how it goes. I'll keep you posted.
     
    #35     Dec 6, 2002
  6. The simplicity of your approach is the key to its success... not one indicator other than price! I love it!
     
    #36     Dec 7, 2002
  7. Ditch

    Ditch

    You're trading the way i would like to, only based on price. Although i got rid of a lot of crap in the course of time i'm not quite there yet. i still have a macd and a ma on my charts. I trade the Nq and lately i've been experimenting with tightening my stops when i'm up >10 pts. I have found that to work pretty well. You might find it worth to consider it. I hope you continue to do well.
     
    #37     Dec 7, 2002
  8. stvee

    stvee

    Well Done Draxon. I am glad you are back on track!
     
    #38     Dec 9, 2002
  9. DraXon

    DraXon

    Today's results:

    10:00 Short ES @ 904.50
    15:50 Exit ES @ 892.50

    * Reason for entry: Looking weak.
    * Reason for exit: Near closing time.

    Total: 12 points

    This time I didn't have a 4 point trailing stop. The downtrend looked fairly decent so I decided to ride it until the end.
     
    #39     Dec 9, 2002
  10. DraXon

    DraXon

    Today's results:

    11:30 Long ES @ 899.50
    15:06 Exit ES @ 897.50

    * Reason for entry: Range breakout after a gap fill.
    * Reason for exit: 4 point trailing stop.

    Total: -2 points
     
    #40     Dec 10, 2002
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