A good friend dropped by at 9:29 on his way to JFK airport - anyone else wouldn't have gained entry at that time of morning. I spoke to him with one eye on the monitor, perhaps the only side benefit of strabismus, and he left at 9:35. A minute later, still unfocused, I entered a trade and two minutes later I was vociferously challenging his family lineage. Being down 5 points so early, I resigned myself to the inevitable losing day and allocated one more losing trade so I could quit well below the 10 point daily stop. What followed was 6 consecutive winning trades, and because of my less than 100% mental state, I overrided Rule 10 of my trading plan and gratefully called it quits. +3.0 pts / 7 RT / 2 ct lots
Once again had to come from behind, which was difficult considering the narrow trading range. +6.50 pts / 12 RT / 2 ct lots
I have no idea how you do this! Absolutely amazing. One question (other than the obvious one): Do you feel that posting your trades here on ET effects your trading, and if so how? /JT
JT, thanks for graphically presenting my trades - feel free to do so on any winning day. Before getting carried away with superlatives like "absolutely amazing", I suggest you do what I did over the weekend - review my history from July 30th, my first day trading the e-minis till today. Before posting my trades, I made it clear that it would be for entertainment purposes only and that I would not be going into details of particular trades, reasons for entries, exits etc. In fact, I only have my execution software (X_Trader) open during actual trading, relying solely on price action - no graphs, no indicators, no squawk box, only SOMP. Yet, apart from the dubious entertainment value, there are valuable lessons to be learnt. Like how, for example, after my first day (trading 1 contract of course) which by chance happened to be a winning one, I jumped to trading 3 contracts on day 2. By day 3 I was trading 4 contracts (against all the good advice offered to emini beginners on this board) and I didn't even have a trading plan in writing. On day 5 I lost $4.9K trading 4 contracts, so it was only natural that I start with 5 contracts on day 6, correct? Well, on day 11 after having lost $10.4K in an 85-roundturn-5-contract trading frenzy, I had this nagging suspicion that both a break and an actual, written trading plan might be in order. Now I'm sloooowly crawling along. Of course I find it helps to publicly post my trades. Apart from the accountability issue which to me is critical in controlling my infamous disciplinary lapses, I've also been getting advice and encouragement, both publicly and privately,and this has really helped shape my trading (into the mess it is today).
Mr. Sub man, after you get your first fill, do you immediately enter a limit order to get you out at your 1 point profit target, or do you just watch and hit the price you want when it gets there? Also, do you physically enter a stoploss order, or do you just keep it mentally? Thanks for the info and keep up the good trading! Kyle
Kyle, I immediately enter a limit order (1 point profit target) but am ready to cancel it if there's momentum in my direction. My stops are mental.
Maybe not, but you were smart enough to catch on - that hasn't always been the case. If I am not mistaken, are you not something like 17 of 18? That is remarkable progress since your last meltdown. Good work, Sub!
Wasted time looking for opportunities that weren't there in the lacklustre market leading up to Bush's speech to the UN. There were moments when it felt as if trading had been halted. +2.75 pts / 16 RT / 2 ct lots