My emini daytrading journal

Discussion in 'Journals' started by emini500, Mar 24, 2006.

  1. Buy1Sell2

    Buy1Sell2

    This an ok way to trade IF you have capital. The thread starter does not have the capital to trade this way. When he puts on 1 contract , he is already at over 2 to 1 leverage--forget about 10 or 20 contracts. A trader with this small a grubstake, MUST be right or get out immediately. Capital is the only true edge in trading. People with capital will eat you for lunch. After your 30 k is gone , you will see the market retrace to your breakeven point. I suggest one contract and BE RIGHT.
     
    #21     Mar 24, 2006
  2. emini500

    emini500

    I am out of the trade at 1313.25 ... WOW what a trade... Looking to go long now but flat and just shy of my goal.
     
    #22     Mar 24, 2006
  3. Let me ask you what makes you exclaim WOW what a trade.

    Is it because your indicators allowed you to make this decision or that you kept shorting and got bailed out by a pullback. Your success is based on learning the difference.

    best of luck..
     
    #23     Mar 24, 2006
  4. too late to buy. you should have bought at 1315 and added to the position as the market dropped until it bounced back to breakeven.:D :D :D
    just yanking your chain. be careful out there!
     
    #24     Mar 24, 2006
  5. emini500

    emini500

    Finally got in at 1313.50. Will exit 1314.75 and be done for the day. Wish me luck everyone
     
    #25     Mar 24, 2006
  6. good luck. hope you hit your target and get your quota for the day.
    PT
     
    #26     Mar 24, 2006
  7. emini500

    emini500

    I trade off of price action and banking on a pull back in a trending market. It was wild day for me and not everyday I have to put in today. It was a wild ride for me, and I say that cause I was in a bit of a loss. I kept my head on and followed my plan no matter what the loss said..... The market slowed down and allowed me to scalp for a little bit. It lowered my average and was able to queeze out a profit. Todays action was news driven and my plan survived the attack today. I don't use a indicator but a plan.... when market does this i do that. Not all news effects the market in a big way so I stick to my plan of the market movement. It goes against the way most people trade but it works for me.
     
    #27     Mar 24, 2006
  8. Buy1Sell2

    Buy1Sell2

    In day trading and in most shorter term and positional trades, I would disregard daily news. It has little effect that price and indicators could also show you. Forget news. On the one hand here you said you trade off price action, but then said the action was news driven-- just use the action and forget the daily news.
     
    #28     Mar 24, 2006
  9. emini500

    emini500

    Added another contract at 1312 and looking to add more at 1310.25. Right now exit is 1313.50
     
    #29     Mar 24, 2006
  10. acrary

    acrary

    Your 1312 buy looks ok but I wouldn't risk more than 1.25 pts on it. No clear buy signals here.
     
    #30     Mar 24, 2006