8/31/18, Live. @8am pst the holiday weekend is calling! RTY, 1 contract. Using new methods. RTH linear RTY range... 7 points ($350) (@Time of posting) 5 trades. Largest DD $35 (0.7 points) NET, after commish... $173 ... 49% of tradable range.
Have been playing with my exit strategy a little bit today. It did work out in my favor today but i will not make any decisions until have at least a few months of data. Up 1407,5$ for the day, could have made more. Missed 1 trade on GC and closed 1 trade CL early since i want to leave my desk and start my weekend. My total for this week = 6037,5$
Thanks @SimpleMeLike . I posted for a couple of reasons. To "win" a challenge was not one of them. I wanted to show that it is possible to make money "day trading". But most importantly, without excessive risk. I mean really... RTY is a very mellow instrument, it's the summer volume and volatility doldrums, headlines are directional catalysts, and I traded no more than 2 contracts, for a total of I'm saying 3 days... $1548 net for my efforts in the last week of summer. The other reason, has to do with the foundation of my systems/methods... Jack Hershey. Perhaps a few people will just stop the horseshit, lose the bitterness and ideologies, and just admit that Jack Hershey stuff may not work for them for whatever reasons, but it can work for others. I couldn't care less what system or methods people use. Whatever works, works. ET would be a "better" place if more would adopt that tude. Obviously, my systems/methods are tuned to intraday markets, throwing off dozens of signals of throughout the day. Like in the the movie "City Slickers", each trader has to find the thing(s) that works for them. Have a nice weekend!
tiddlywinks, Thanks for the update and comments. It is really great to see someone on ET showing they make money day trading. Most say its impossible, but I am seeing here that is certainly not true. This is the most productive thread on ET to date in my opinion. Thank you for mentioning Jack Hershey. I have never heard of his name or his method. I will google around to read about his style of trading. I love to read about methods of trading. I notice he is a member of ET and have many posts, I will dig through to find his method and read. Thanks for the comments.
Jack Hershey is deceased. For more than decade he was a "controversial" member of ET, and other trading forums, explaining and offering his knowledge at no cost. Simplistically, his teachings can be summed in a few words,... volume leads price. During the same period, a protege named SpyderTrader, also here on ET and other forums offered a subset of Hershey teachings, also for no cost. My mention was not meant as a call to action. I mistakenly assumed much of the current ET membership heard of Jack Hershey, due to his duration and controversial persona. His name comes up, usually negatively, in various threads almost daily!!! If you decide to look into the Hershey or Spydertrader teachings, there are people here on ET who can, will, and do help those genuinely interested.
tiddlywinks, Thank you for sharing about Jack Hershey method. I don't attention to the controversial on ET. I am just here to be productive. Is there a book written by Hershey or Spydertrader teachings you can recommend I can read? Thanks
Update today was +$240, I do not have screenshot cause account resets to starting balance. My total for the week is about -$650. A losing week for me. But better next week. Everyone have a great night and weekend.
My advice is open a chart and insert notes where you went long and then closed or short and then closed so you can visually see your entries and then we can also comment and give guidance.
This is a good idea/exercise. I will add showing 2 separate pieces, one at a time... 1) leading into and including the actual entry point with nothing else, and 2) from the entry point to the exit point. Part 1 garners only entry point analysis. Part 2 garners exit point analysis Breaking it into 2 pieces shown at separate times, is much more like real-time, and removes some unconscious hindsight analysis/thought process. The reasoning of different methods of trading can be very helpful.
Thank you El OchoCinco. That's good advice. I will do this from now on. Just show my entries and exit on the chart to get some feedback. Thank you