Here are my first ES trades ever: Code: Day Sec B/S Time Price B/S Time Price Quant. Gross Net 26-Aug ESU2 S 12:25 934.25 B 12:30 933.50 1 75.00 70.20 ESU2 B 13:26 936.00 S 13:27 937.00 1 100.00 95.20 ESU2 S 13:32 937.00 B 13:34 936.75 1 25.00 20.20 ESU2 B 13:39 937.50 S 13:40 938.50 1 100.00 95.20 ESU2 S 13:56 939.25 B 14:04 942.50 1 -325.00 -329.80 ESU2 B 14:05 943.25 S 14:08 941.50 1 -175.00 -179.80 ESU2 B 14:10 943.00 S 14:13 945.00 1 200.00 195.20 ESU2 S 14:14 945.50 B 14:15 945.00 1 50.00 45.20 ESU2 S 14:20 944.25 B 14:45 941.25 1 300.00 295.20 ESU2 S 15:08 947.25 B 15:09 946.50 1 75.00 70.20 Total 10 425.00 377.00 I realize I had some luck this first day trading the e-minis. But it's so much fun! 10 RT the first day...better watch myself not to overtrade. Probably should limit myself to max 10RT's in the future. Any comments? /JT
Sorry, These are the correct numbers (da@# it!!!): Code: Day Sec B/S Time Price B/S Time Price Quant. Gross Net 26-Aug ESU2 S 12:25 934.25 B 12:30 933.50 1 37.50 32.70 ESU2 B 13:26 936.00 S 13:27 937.00 1 50.00 45.20 ESU2 S 13:32 937.00 B 13:34 936.75 1 12.50 7.70 ESU2 B 13:39 937.50 S 13:40 938.50 1 50.00 45.20 ESU2 S 13:56 939.25 B 14:04 942.50 1 -162.50 -167.30 ESU2 B 14:05 943.25 S 14:08 941.50 1 -87.50 -92.30 ESU2 B 14:10 943.00 S 14:13 945.00 1 100.00 95.20 ESU2 S 14:14 945.50 B 14:15 945.00 1 25.00 20.20 ESU2 S 14:20 944.25 B 14:45 941.25 1 150.00 145.20 ESU2 S 15:08 947.25 B 15:09 946.50 1 37.50 32.70 Total 10 212.50 164.50
Code: 27-Aug ESU2 S 13:08 940.50 B 13:10 938.75 1 87.50 82.70 ESU2 S 13:28 941.25 B 13:36 941.00 1 12.50 7.70 ESU2 S 13:43 942.25 B 13:45 940.50 1 87.50 82.70 ESU2 B 14:21 939.75 S 14:22 939.25 1 -25.00 -29.80 ESU2 B 14:23 939.00 S 14:24 941.00 1 100.00 95.20 ESU2 S 14:31 940.00 B 14:34 939.75 1 12.50 7.70 ESU2 B 14:35 937.00 S 14:35 937.50 1 25.00 20.20 ESU2 B 14:55 935.25 S 14:58 936.25 1 50.00 45.20 ESU2 S 15:00 935.00 B 15:18 934.50 1 25.00 20.20 Total 9 375.00 331.80 Will be out on business doing a boooooooring trade show a couple of days. See ya Friday.
Jt, This thread is about as useful as a turd in a punchbowl. If you are going to boost your ego for everyone to see why not tell people how you are trading and what method you use. No one is interested in reading how much money you make everyday. Thats just an ego boost. Put up some charts.
Yes, I have a comment......You kicked ass. I also run into a problem of overtrading from time to time. My hold period may be longer than most daytraders (obviously on winners), and can be as long as 45 minutes. One day a few weeks back I had 23 round turns, way too much for my taste.
Hey Dizzy, I agree with you. However trading these first 2 days have been pretty time consuming for me. It is my absolute intention to provide the things you are asking for, comments, charts and so on. I hope to be able to do so next week. Dizzy, you have to belive me. This is NO EGO BOOSTER! I'm doing this because I need your comments and feed-back on my trading. The first thread I started, was my journal about trading index options. There I showed how I lost 88,8% of my trading cap in about 2 weeks time, so no ego trip there. http://www.elitetrader.com/vb/showthread.php?threadid=7499&perpage=6&pagenumber=1 /JT
Sarasota, thanks for the encouragement. I do belive it's beginners luck. My trading plan for trading the ES are pretty loose as of now, but one limit is definitely max 10 RTs. I which I would know when to hold on to those long runs, which gives you the large $$$ profits. Any suggestions? /JT
Why would you limit the number of R/T's per day? If you have a system, wouldn't you just trade the system, no matter how many signals you get?
hey torntech, here is a quote from trend fader from the bronks-thread i like to put in here: ------------------------------------- "What is it that separates successful traders from unsuccessful? " --- There usually is always 2 types of traders. Trader #1 has high % winners.. but their gains are minimal. And trader #2 is averaging over 2:1 profit/loss and is right under %50 of the time. The other factor in this equation is frequency of trades. Assuming what I said above is equal regarding the 2 traders above... the trader that will make more $ is the one that has more trades given X amount of time. In a nutshell the point is.. you will be trader #1 or #2.. and the HARDEST part of trading is taking care of the frequency of trades. If you want to be trader #1 then you should be looking to trade more often... perhaps you should never avoid your signal (whether mechanical or discretionary). Trader #2 can be gun shy.. and stalk the market. Only entry when everything clicks. Now here is what separates the winners from the losers. The pro knows that he is trader #1 or #2 and accepts this notion and his trade frequency will be subject to the rules set above and will find the balance of the proper amount of trade frequency. The losers.. will try to be trader #1 and undertrade.. or try to be trader #2 and overtrade (very common). The worst traders of them all.. don't know whether they are trader #1 or #2. (most common) Many traders only focus on entries.. as I mentioned a lot on the thread. The exit is what separates the men from the boys. Decide whether you will be trader #1 or #2. Then before you consider working on entries... work on your exits. Do you want your exit to be a function of volatility, trailing, whatever? the more determined you are-- the better exit you will have. Decide what type of market (trending, choppy, whatever) best suits your exit strategy. Decide the type of profit to loss ratio you want. The pro's treat their gains as multiples of their loss. Then once you have determined all of this.. work on entries. What I I just mentioned above personally took me years to figure out. In my honest opinion, and this is definitely controversial.. I believe that all exact entries sooner or later will be random, however market conditions.. trending or choppy will be here forever. Types of patterns, technical, mathematical, whatever.. that try to pinpoint exact entries never really last forever. So if you backtest... then use your entries as random, market conditions as a filter.. and the exit part as the constant. If your system would still be profitable with random entries.. then you have found the holy grail. If you can improve the performance of your system with entries of your own (mechanical or discretionary) and hold your exit strategy and market condition filters constant in "realtime" trading then you will be a super trader. Final note, what I just mentioned above is pure methodology. Once you know "who" you really are as a trader.. paper trade, paper trade, paper trade!.. then back it up with some hard earned money. Otherwise, you will be fighting a war thats already be lost. --MIKE ------------------------- so, what typ of trader are you ? or what typ would you like to be ? are you a "scalper" or a "swing/position-daytrader" ? seems, you are more typ #1. thats ok, but if so, be consistent. trading