My profitable daytrading journal is back! ("The only way to trade with Fibonaccis")

Discussion in 'Journals' started by 1a2b3cppp, Apr 1, 2013.

  1. Years ago you read my thread "the only way to trade with Fibonacci" where I debunked the myth that Fibonacci has anything to do with trading at all.

    You also read my "The Only Way To Trade With Fibonaccis Journal" where I posted many live and real time calls as I traded the ES and then later on in the thread switched to longer term trading of SPY and SH.

    Then you went on to read my "Profitable Journal With All Entries/Exits Posted In Advance" which was only longer term trading.

    Now my intraday journal is back!

    Today's trades:

    (red triangles = sell, green triangle = buy)

    Sell 1 ES @ 1556.25
    Sell 3 ES @ 1557
    Sell 5 ES @ 1558

    Stop loss: 1560.75
    Target profit: 1553.25

  2. Just a quick note, I will be gone for most of tomorrow afternoon so I probably won't do any trading unless something really great happens in the morning.
  3. Buy 1 @ 1564.50
    Buy 3 @ 1563.75
    Buy 5 @ 1563 (this order was never filled)

    Close position @ 1567
    Stop loss @ 1560.75

    Here's today's chart with entry positions and you can see the order to buy 5 which was never filled.


    I'm done for the day as I an appointment this afternoon and don't want to have any trades open when I have to leave.
  4. I actually have another appointment tomorrow at 1pm so again I double I'll do any trading unless I see something cool in the morning.
  5. First trade today was a loser.

    Buy 1 ES @ 1554
    Buy 3 ES @ 1553
    Buy 5 ES @ 1552

    Target profit: 1557.50
    Stop loss: 1548.75

  6. Second trade was a winner, although a small one contract winner:

    Short 1 ES @ 1551.25
    Short 3 ES @ 1552.00 (order never filled)
    Short 5 ES @ 1552.75 (order never filled)

    Stop loss: 1555.25
    Target profit: 1548.50

  7. The better accuracy that you obtain from adding to a losing position is neutralized by always losing on full size and winning on various sizes.
  8. I don't know if "neutralized" is the right word, but I know what you're saying.

    Unfortunately I cannot predict direction, so I have to trade the way I do.
  9. Find a way to predict, then trade, until you do, don't.

    For instance, I predict the 150 area will hold in NFLX, not counting earnings, so if we get there, I want to be a buyer.

    Let's see what happens in the future, to see how the prediction works.

    First you need to believe, then you can learn, does not work any other way and based on your past posts I know how skeptic you can be.
  10. I've been pretty successful both day trading and long term trading without predicting. Have a look through the threads I linked to in the first post.
    #10     Apr 4, 2013