Hello all, i am the ESclown. I am starting this journal to get some consistency with my trading and hopefully admit to all mistakes i make each and everyday. I guess if the mistakes are open to the world i have to stop messing up eventually otherwise I'm going to seem like a complete Clown everyday. I trade the ES and sometimes other markets. However, i usually concentrate on ES alone. I use a price action strategy, i do not use indicators at all. I have 2 accounts for trading the ES, first one is a day trade account and the 2nd is my swing trade account. So i might have a longer term short position and a shorter term long position. I try not to hedge and play each account with different strategies. My swing trade account generally tries to hold a trade for 2-7 days. Usual targets average about 30 ES points. I am very patient with this account and it grows steadily. My day trade account seems to do great then i have a sucker punch day and lose all my discipline and get killed. Also, i have realised that my problem is not my analysis but my psychology. I have started to read my psychology books just to improve my own understanding of how my brain works. I often go through the 4 dumb stages: HOPE, BARGAINING, DEPRESSION and ACCEPTANCE with my bad trades. When i make a bad trade which goes against my plan i tend to HOPE that market may be kind to me, even though i know my edge statistically works i still deviate from my plan and forget all about my probability structure. When the bad trade starts going against me i start BARGAINING with the market to let me out at a good price. Obviously the market is cruel mistress and will punish me so i reach the DEPRESSION stage just wanting the pain to end. I get out at worst possible time and that leads me to..... ACCEPTANCE - even though i have lost a chunk i know next time i will stick to my plan and all will be better. This is like my circle of trading but i get better and better each and every week, learning from my own psyche mistakes. My plan: i have an edge with statistical probability in my favour. I also use a risk to reward barometer on each trade. I know am concentrating on my money management, i have a $50000 account and i am now only willing to have max draw-down of 2% ($1000 per day). No more will i be trading more than 1 contract. For every $30000 dollars in my account i will trade 1 contract. This is very conservative for some but i figure its my only way to build discipline and longer term security. I am not going for 1000% returns per year, i will be happy with 40% return. Obviously as i grow more experienced i will increase my risk propensity. Problem with only 1 contract is that i cant scale out which is a major disadvantage to me. I will document some of my reasons and images for my day trades as we go along. Hope all who read enjoy.