Another E-mini trader trying to make it in this Crazy World

Discussion in 'Journals' started by quamism, Oct 15, 2002.

  1. quamism


    As i have read though many of the other threads it has inspired me to post my own journal. I am doing this more to make myself accountable for my trades and possibly have someone kick me in the ass when i do something stupid.

    I have already went though quite a growth process in my trading and am hoping that this little experiment will help me become more accurate and more profitable.

    My strategy is fairly simple and usually follow to types of trades.

    First - Trading with the major trend of the market and waiting for a temp pullback for entry. I will be utilizing the CCI, Volume, and TA for my setups. Most all of my trades will have a 2 point stop with a expected profit of 4 points. After 2 points have been gained i will move my stop to break even. I will try to average 4-5 of these trades per day. These should be 80% of trades.

    Second - Scalp trades where my goal will be .5 - 1 point. unfortunately these kinds of trades have made up more then 20% of my trades lately, which is why i am trying to make myself accountable.

    OK, about today.... In retrospect i should have never been in the market today and hope that in the future i will be able to see that the market is just going to trade sideways all day and safe myself capital and nerves. I will not post todays trade results because there is far too many. In summary though, 20 roundtrip trades for a -P/L of -$87. I actually feel ok with this performance considering my lack of control in the market today.

    I will start posting results tomorrow and hope that i can get some good feedback from everyone who enters...

    Look forward to tomorrows post
  2. toad57


    Keep the posts coming... I'd like to see what happens as well.


    Mr. Toad
  3. toad57


    Oh... and before you make an entry, how do you know if it's going to be a "4 pointer" or just a "scalp"?

    I like to avoid the scalps too, but the past few days I seem to be stopping out on what I thought was going to be a "good run" fizzle (should have scalped for .5 to 1.0 instead of waiting for it to run up more).

    Mr. Tode
  4. Best of luck.
  5. quamism


    I determine if a trade will be a scalp or a trend play by the stop that i assign it. If i am scalping i will try to limit my loss to .5-1 and will enter a hard stop at entry. On my trend plays i will always have a 2 point stop.

    So according to my plan, if i want trend plays to be 80% of my trades and i plan on having 4-5 each day, that only allows me 1 scalp per day. I think this will be the hardest of my rules to follow, but i know i must follow it to be succesful.

    Thanks to everyone who has already posted.
  6. Sashe


    You have not posted a thing for two days already.
    I am waiting impatiently, best of luck
  7. Scalping is a losing technique.

    It would work if you can get fill all the time, but some of the time you will not be able to exit your position.
    With commsions and slippage you will find it impossible to make money that way.