ES Trade Logs

Discussion in 'Journals' started by jboydston, Jun 8, 2002.

  1. Different format tonight because IB takes so long to send out the logs now. These are exported from my confirmation lists:


    ESU2 SLD 3 983.75 13:59:32 20020708
    ESU2 BOT 3 985.5 14:03:30 20020708
    -$(262.50)

    ESU2 SLD 3 986.25 14:11:30 20020708
    ESU2 BOT 3 984 14:17:30 20020708
    +$337.50

    ESU2 SLD 3 979.25 15:46:06 20020708
    ESU2 BOT 3 977.75 15:50:23 20020708
    +$225.00

    ESU2 BOT 3 975 19:30:03 20020708
    ESU2 SLD 3 975.25 19:30:20 20020708
    +$37.50

    ESU2 SLD 3 975.5 19:30:48 20020708
    ESU2 BOT 3 976.25 19:30:54 20020708
    $(112.50)

    NET = $ 225.00
     
    #81     Jul 8, 2002
  2. I too much rather short, especially stocks as it seems like there is less risk ( seems they fall faster than rise so you have a better chance to get out of a loser with your "shorts" and shirt still on) IMHO
     
    #82     Jul 8, 2002
  3. ...you better work on that, chances are, that there has started a period on the 3th of july - could easily last couple of weeks - where trading from the long side is recommended :)

    look at this http://www.mrci.com/lbr/charts/20020705/4.htm

    :) trading
     
    #83     Jul 9, 2002
  4. jboydston,

    You obviously have confidence in your Short position trade setups. Same here.

    Further...if you ever meet someone that saids...never have a bias...that's someone that's probably not a trader.

    A trader will always have a bias.

    Yet...a big yet...those that are successful have learned to exploit that bias via knowing its strength and weakness.

    What's important to remember and practice is to balance your risk exposure to offset any bias you may have.

    For example...this is how I control my risk...via what ever chart interval your using to see the big picture...if its a bear trend...my Short positions are via their normal contract size. Thus, if I normally trade 9 contracts...that contract size is maintained and I often breakup the Covers into 1/2 or 1/3's to lock in profits and to capture more profits with the remainder.

    However...during that same bear trend...if I get a Long position trade setup I have confidence in...I take the trade...but with a reduced contract size of 1/3 or less and exit all at once.

    And the oppositie is true for those bull trends...my Long position are via their normal contract size. Thus, if I normally trade 9 contracts...that contract size is maintained and I often breakup the Exits into 1/2 or 1/3's to lock in profits and to capture more profits with the remainder.


    However...during that same bull trend...if I get a Short position trade setup I have confidence in...I take the trade...but with a reduced contract size of 1/3 or less and Cover all at once.

    This is one major method I employ to control my risk. This method also allows me to continue learning from both my Long and Short position trade setups regardless if the market is going up or down.

    The obvious advantage is that when the market has those trend reversal days I'm either profitable or my loss has been greatly reduced so that it's nothing to be bothered by.

    More importantly...you are less likely to hold a strong bias (getting into a deep seated habit of only going one way in the market) and are able to let go quickly (change course) to capture points from the new trend in its earliest stages of developement.

    With that said...no matter how I or anyone else employ risk control while trading the eminis...do what's best for your trading personality and wallet.

    Also...I did a quick research on software your looking for...and I couldn't find anything. However...I still believe if something like that exist...is something that's being used by in-house at some firm and is very expensive.

    NihabaAshi
     
    #84     Jul 9, 2002
  5. NihabaAshi

    Thank you very much for sharing your thoughts. There is absolutely something to be said about the wisdom of scaling out of positions/entries. More to add to the " to be worked on" list :p
     
    #85     Jul 9, 2002
  6. ESU2 SLD 3 976 15:15:17 $(187.50)
    ESU2 BOT 3 977.25 15:16:57
    ESU2 SLD 2 971.5 16:13:33
    ESU2 SLD 1 971.5 16:13:33 $(150.00)
    ESU2 BOT 3 972.5 16:13:50
    ESU2 SLD 3 972.25 16:17:32 $(187.50)
    ESU2 BOT 3 973.5 16:18:12
    ESU2 BOT 3 972.5 16:29:45 $(112.50)
    ESU2 SLD 3 971.75 16:42:45
    ESU2 SLD 3 973 17:09:56 $(150.00)
    ESU2 BOT 1 974 17:16:20
    ESU2 BOT 2 974 17:16:20
    ESU2 SLD 3 972.25 17:35:21 $637.50
    ESU2 BOT 3 968 17:47:31
    ESU2 SLD 3 966.25 18:20:03 $(187.50)
    ESU2 BOT 3 967.5 18:21:40
    ESU2 SLD 3 965 18:26:46 $(112.50)
    ESU2 BOT 3 965.75 18:30:45
    ESU2 SLD 3 965 18:32:20 $450.00
    ESU2 BOT 3 962 18:48:06

    Net breakeven.

    :mad:
     
    #86     Jul 9, 2002
  7. I will start a new thread tonight with daily charts of my trades. It will take a good deal of time, but hopfully will benefit us all.
     
    #87     Jul 9, 2002
  8. jboyd,

    i'm not a futures trader yet but i know its very common for people when they trade pairs or higher to pull 1 or half off as soon as their a point up, then bring their stop to break even immediately and or trail it. Just something for you to consider.

    Take care
     
    #88     Jul 9, 2002