That was a really beautiful trade you executed today. Too bad you were not leveraged to the hilt What was your entry signal and what convinced you to hold it as long as you did? I also got a long signal in that zone, but it was first confirmed on the bar after your entry. It would be interesting to hear your reasoning behind the trade and I`ll explain mine if it is something completely different than yours. Since it was obvious that we may be heading higher at that point, Wednesday`s high at 06,75 was a reasonable target. R2 was at 09,25. I also use NT with IB and for me it works like a charm. I trade directly from my charts using charttrader.
Thank you, ya too much size right now is not an option, and since I was playing defense in case of a quick gap fill, I only used 100 shares. Wish I knew it would work this well, would have used 10 ES cars! Hah I guess we never know do we I saw some resistant broken in the daily chart during the open so decided to hold my trade. It's really hard to buy off an open that does not pull back so when I saw price re-enter the range of the opening bar, I said, hey, here's my chance and that was pretty much it. Joe
Hi Anglagard, My life story is similar to your in many ways. I have been trading full time for 3 years after i had to shout down my business due to economic downturn. first 2 years, I lost money on a NET basis. Did everything i could do to learn including 12k to different trading coaches to learn trading. Nothing really helped in the end. In January of this year , I came to know about Mark fisher. I goggled him and read about him. When i saw that Paul Tudor Jones thinks that Mark fisher is the best pit trader ever, I decided to buy Mark fisher book " the logical Trader". I have not looked back since then It took me 500 hours of SIM account practice to gain confidence in his SIMPLE trading system. No indicators just common sense. My recommendation will be to check out Mark Fisher and see if his system suits your style of trading. Good luck.
Waited patiently today and finally saw a solid signal today to short with very small stop so took it on very good size. Decided to swing it, in case things get hairy, I will hedge it with ES overnight but so far no real danger Joe
I have accepted an offer of mentorship at no cost from a well respected member of the trading community but the person requested confidentiality and to put an end to this journal at once in order to proceed. Sorry to see it all end so quickly but this is one offer I cannot refuse. Good luck to everyone. Joe