I respectfully disagree with the above and maintain that you are indeed doing what you intended from the outset with the added option of reserving the right to set a hard target (1 point), which you outlined thus : And you've gotten off to a very fine start. Nitpicking That should be $24.10. (Yes, I do take a keen interest in your figures and analyze them in an Excel spreadsheet )
Thanks Mr. Sub, I appreciate your input. The last couple days are mostly rambling and I have no real thought of changing any thing at this point. Man you should see all the typing mistakes that I DO manage to catch!! Make 'em pretty, Chris
This is what I am looking for for the first 1 1/2 hours. 5 trades 4 winners (80%) for 3 points = $126 Missed the first trade - tried to get it one tick lower when it showed; no fill - Then tried to get it at the proper price and still no fill - teach me, won't it! L1 -1, loser right outta the box. Knew it was chancy but was hoping for a continuation up. S2 +1.5, got out to early, but was satisfied. L3 +1, Getting close to the 20 and the 5,2,1 topped out. S4 +1.25, Was surprised I got over my one point! S5 +.25, Had 3 bottoms there so I took my $7+ and left for the day!! Overall was a good morning. Make 'em pretty, Chris
Great job Chris -- lookin good this morning. I'm wondering if you might post a bit more details about your trades (i.e. price of limit entry, fills, exit prices). I ask particularly about your entry prices because I've been following along with the method you originally posted but have found that I'm getting stopped out with my -1 limit much more frequently than you are. Perhaps I'm setting my entries too far away, but it's really been frustrating the past few days, and I'm not seeing nearly as good a hit rate as you are. Also, you seem to have changed your strategy from what you originally described (i.e. you didn't wait for the Bollinger touch in 4 of the 6 setups). Is there a reason for this? Thanks for the info! --Noah
Sure, but entry prices are pretty easy to come up with - it is the same as the previous bar high. You are correct, 3 trades did not touch the BB bands - when I trade without a touch of the BB bands I am looking for a continuation of the trend. If the price bounces off the 20 ema and breaks a previous bar high I will try to take a trade in the direction of the 20 ema. If it fails - I will try to get in the other way. L1 - continuation then failure so take S2. Then on S4 - it hit the 20 and the 5,2,1 had made it passed the 85 and was heading back down. What you stated are the STRICT rules - some of these others are contiuation. Make 'em pretty, Chris
DBLARROW: great job trading and posting. I am curious. Did this trading style of yours evolve by choice (scalping) or is it the result of trying to trade other styles and not finding them as profitable and/or enjoyable? My feeling from reading your journal is that you enjoy this method of yours. thanks
Larrybf, Yes to both. I started out with a similar system on the bonds and notes, longer time frame though. Works nicely. I started watching the the ES due to some input elsewhere and setup the chart with the same stuff, and just shortened the time frame and profit target. I DO enjoy this method. It is immediatly gratifing. I can walk away for 15 minutes and almost get right back into something. Make 'em pretty, Chris
Today just felt bad for some reason - 3 losers in row will do that to me! 12 Trades 8 Winners (66.6%) for 3 points = 92.40 L1 .50; Was trying to get 92.25 but ended up with 92.5, when price passed the 92.25 I hit the limit button and it must of changed just as I hit it. Then did the same on the way out. I really get dicombobulated (spell that!) when I don't get my price so I look for a quick exit. S2 1.25; Did a little anticipation here and got in at 94, technically it should have been 93.50. S3 1; Again did a little anticipation got in at 96.25 (should have waited til 95.50) went to 97.25 and turned around. Trades 5-10 were not by the STRICT rules and I paid for it - 50%! But for 66% I am satisified. Make 'em pretty, Chris I will do a brief week in review in a bit. S4 1.5; Got short at 95.75, had good divergence on the 5,2,1 and when the 5,2,1 hit 15 I got out. L5 1; The 5,2,1 had passed the 15 and price was aroung the 20 ema so I was looking for a continuation of the up trend. L6 1.25; Got in at 91.25, .25 in anticipation and gave it 1 tick past the low of 90.25. I know It didn't hit the BB, but that is part of the disicpline problem. L7 .75; Enter at 90.75 (the double top) but got out early because of the last trade. At this point I felt like it was going to be a bad morning but I kept goining anyway. L8 .75; In at 88.50 (the double top), I thought for sure it was goint to take my stop and when it started up and hit the 85 line I was quick to get out. S9 .50; Entered 90.25 it bounced off 89.5 for to long so I got out. S10 1; Entered at 90.25 again, Had a target this time of 1 and took it. L11 1; FINALLY hit the BB!! Entered at 89.75, Again had a 1 point target. S12 .50; Entered 90.50, hit 89.50 but I didn't get a fill so I hit the market button and left!!
I did more anticipation than I wanted to and the bad thing is that most of them worked out! 46 Trades on the week 30 winners = 65% 11.5 points for $575 Paid $220.8 in commissions For a profit of $354.20 For 65% I spose that is ok, But I would really like to see this stay above the 75% area. All in all, it was again profitable. I've had many days that were the opposite of this week! So I am glad to be in the black for the week. Make 'em pretty, Chris