Gub's ES Journal

Discussion in 'Journals' started by Kubinec, Aug 25, 2009.

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  1. Kubinec

    Kubinec

    Yes, indeed, it is what you think! :D

    20 years old.

    Real money.

    Two months experience with futures.

    Traded only ES so far.

    Want to keep a journal and notes on trades, starting today!

    All times are ET.

    Thank you!
     
  2. Kubinec

    Kubinec

    Someone bought 10K contracts on a 5-minute bar ending at 0800, moving ES up 2 points!

    Durable Goods report comes out at 0830, followed by Consumer Confidence and S&P/Case Shiller Home Price Index at 0900, and another Consumer Confidence at 1000.

    Follow them? Or wait for the release?

    Not following.
     
  3. Kubinec

    Kubinec

    Durable Reports were supposed to come out at 0830. I don't have direct news feed yet, so don't have the number. Bloomberg and other news outlets don't have the numbers out either. But it's already 0835, and ES didn't even make a tick in either direction.

    I'm confused :confused:

    I've read that it's an "Advance" report, and that the "Full" report comes out September. Maybe that's why it had no effect on price?

    EDIT:

    It appears I ignored the release at around 0730 that the Beard got renominated as Fed chairman. This probably spurred the move upwards.
     
  4. You truly are confused.
    Durable goods are tomorrow morning and Ben’s reappointment news came out last night.
     
  5. Kubinec

    Kubinec

    http://biz.yahoo.com/c/ec/200935.html

    It says August 25th and 26th. But I should've known better when I noticed that Bloomberg's Economic Calendar didn't have it out for today! Freaking Yahoo :mad:
     
  6. Kubinec

    Kubinec

    Placed a buy-stop at 32.50 (first lower high)

    2 mins into the open we're heading lower, portending a big move up on open (I've noticed this happening several times before)!

    EDIT: Markets choppy to the downside on open, removing buy-stop. Waiting for CC to be released at 1000.
     
  7. Kubinec

    Kubinec

    Got in at 3575, got out at 2 points loss. Should've had a buy stop in two ticks above the previous high.

    Shorted the moved down for two ticks.

    Lost 1000, made 100.

    Net -900.

    EDIT: another 100 made. Down 800 now.
     
  8. Gub, come on man, you have a recipe for disaster here.

    2 months experience + trading 10 lots = acct blowup.

    This is an almost sure fire equation, scale it back and take it slow if you want to survive and then thrive.
     
  9. Kubinec

    Kubinec

    You're right, Ras!

    I can't commit myself to that though.

    I guess I'll have to learn the hard way like I always do in life)
     
  10. You HAVE to, the ES is so ultra competitive and therefore is not something you can just walk in to as a rook and throw around size (unless you have unlimited funds).

    I'm telling you, if this is something you are serious about doing, you have to scale it back and get consistent (months of consistency) before sizing up.

    Believe me, I've been trading the ES full time since you were 8 yrs old. If you want to make it, you gotta start small (1 lot) and work your way up as your experience level and market competency grows.

     
    #10     Aug 25, 2009
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