Fell asleep but at least followed trading plan: 4 Stars! Yay! LOL Sorry Fast - But that is damn funny. Do not despair - you have a brother-in-sleeplessness here. Scientist.
Scientist, the 4 stars were for being sleepy and having the discipline to NOT put on a trade while I feel like crap Btw...today sucked as well -Fast
November 3rd (Monday) Followed Trading Plan: Total trades: 5 (All Shorts) 2 Winners, 3 Losers 9:37 AM - Short 1 ES 1053.25 9:38 AM - Cover 1 ES 1052.75 Result: +0.50 9:50 AM - Short 1 ES 1053.75 9:52 AM - Cover 1 ES 1055.75 Result: -2 9:53 AM - Short 1 ES 1055.25 9:59 AM - Cover 1 ES 1057.50 Result: -2.25 10:00 AM - Short 1 ES 1058.25 10:03 AM - Cover 1 ES 1058.00 Result: +0.25 10:07 AM - Short 1 ES 1058.00 10:22 AM - Short 1 ES 1059.50 10:24 AM - Cover 2 ES 1059.00 Result: -0.50 Notes: I actually wanted to exit 1 contract at 1059 and let the other one ride for a while, but accidentally exited both (TWS defaults the Trade Size to your current position). Overall: ES: -4 I'm finding trading part-time pretty much sucks! I can't manage my positions or trade the way I'd like to. My goal is not to be a scalper but my schedule forces me to scalp. The cash I'm losing is not a big issue since I do well in my full-time career, but this is going nowhere. My schedule forces me to exit earlier than I'd like to so the positions can't run for larger gains. This is a big disadvantage and I think I should just stop until I can spend more time on trading. What do you think?
If you are not to become a scalper, I don't understand why you have to close your positions before you go to work. I have a full time job too so I can't watch the market 24/5 either. So what, use limit orders. And if you like stops (which I don't), use OCA limit and stop orders. In any event, schedule shouldn't determine how you trade.
Fast, get the wife a job. Make up some excuse to quit yours and just sit home and trade all day! wally
random_trader, how wide are your stops? What kind of profit targets do you shoot for? My goal is to develop my trading skills where I could trade well full-time, in the future. I have no immediate plans of going full-time. I don't want to swing trade the ES since that's not the skill I'm looking to develop. I want to be able to manage my positions; scale in/out at different prices. That's not really possible trading only 1 hr per day. But, if you have any ideas, I'd like to hear em. Thanks, -Fast
In that case, just make up some excuse to quit your job, have your parents send you a check every month and sit home and trade all day. Or, plan B: Go find some rich girl, marry her, then sit home and trade all day. When you figure out how to make lots of money consistently, divorce the rich girl and marry for looks!! Wally
Dude. Don't be so hard on yourself. This is a great opportunity to train yourself to trade a different time frame instead of Ticks & 1min charts. Consider trading off of Daily Charts. NO you don't have to risk 30 ES pts per trade. However, you do have to time your entries and set goals. Let me help you out. Withen the next 3-5 days the market is going to top out. You can get ready to take advantage of this opportunity. get ready dude. Win, lose, or draw, I think you are doing a great job. Be encouraged!