/ES beginner's journal, tips appreciated!

Discussion in 'Journals' started by wildshoe, Sep 5, 2011.

  1. wildshoe


    I've been selfstudying trading for years now, but just lately did I start taking it very seriously.

    I spent the last week papertrading, and realizing that I need to take as much of my discretion out of this process as possible. Not that my discretion is bad, just that for me, the less discretion I have, the easier it is for me to think logically. I want something consistently profitable and tradeable.

    I'm only going to be trading /ES, as it is the most liquid, and available for me during the times when I am awake. I really like it, I can't imagine I ever traded anything else.

    So I spent 3 or 4 days learning thinkScript, designing (mostly worthless) oscillators, signals, movingaverages etc.

    I spent about 36 hours of 0 uninterrupted sleep working with moving averages. I tried tweaking others, coding my own, combing moving averages, etc.... I finally designed a set that works a year ago as well as they do today at grabbing onto long trends and sticking with them.

    So I'm sticking to trading these MA's for now, buying and selling no more than 2 contracts (max risk, $10,000 or 10%).

    I've been using volume, and zero-cross momentum (longperiod) to help me deal with whipsaws and make early exits, as well as to help me make early entrances before the MA's cross.

    My PnL so far after 6 days of trading is +$3,845!! I'm using the flat fee comissions on ToS and I think I've already racked up quite a bit...

    I think I may have accidentally (honest) traded 10 contracts of ES on a trade at some point which may account for that, I fainlty remember doing that by accident. Which may account for my huge PnL this week.

    I caught the downtrend in the S&P that started Thurs. night @ 1215 and I'm still riding it at 1154. So we'll see what my PnL is when that trend bottoms out.

    I'm kind of sketched out by leaving trades on overnight while sleeping, and especially over the weekend. But my weekend view with all that has been going on was so bearish and this IS paperMoney so I left the trade going, and it paid off!

    Anyways, here's a screenshot of these great moving averages!

  2. wildshoe


    so I didn't want to count the trade that I left on overnight as that is uncharacteristic of me to leave a trade up over the weekend and I'm trying to take this seirously, so I offset my balance to the degree that I made on that trade otherwise I would be up 2k+ on the day...

    anyways, I re-entered the downtrend at 1158 and got out at 1147.75 when my moving averages crossed, should have got out earlier based on other technicals...

    now i'm short again at 1149.50 based on volume, and reconverging MAs

    my account balance is now $104,750
  3. wildshoe


    @ 105,400 after 2 more trades, i'm going to start posting screenshots of my trades and posting them here