Small Account ES

Discussion in 'Journals' started by CaptainObvious, Aug 29, 2006.

  1. WTF, why not start another journal! I've just re-tooled my entire day trading "system" for the ES. Months in the making, LOL! Without giving away the entire "secret sauce" to my method I will post some charts which may, or may not make sense to you. You will see I like to keep things simple. Todays trade was at 9:15am, going short. Trade moved favorably, then stalled a little. I tightened my stop and got stopped out for a $150 profit about 1/2 hour later. Jumped the gun and it cost me some money as the market continued downward.
    Normally I can only trade in the morning, 2-3 times per week. Account size is 10K and I'm currently trading 2-4 contracts, depending on the strength of my entry signal. I've tested my system with my Trade Navigator Playback(I love that thing) and the results look promising. We'll see how it all works out.
    Lets see if I can post a chart without screwing it up
  2. And one more chart I look at.
  3. Nice set up for me in the ER today. While that's not my normal trade, I do monitor it for trades. Today the line up was better in the ER than the ES. I did consider it a higher risk trade because it was made prior to the Oil inventory report. Consequently I traded only 2 contracts, had a smaller profit target and would have exited prior to the report regardless. As it turned out the report would not have hurt me and I left one full point on the table as a result. Still, it was too much of an unknown for me to stay in the trade. Nice two point profit for me and very little heat while in the trade.
    I like to make notes on the chart, print it and have it for reference. That offers better memory recollection than just refering to my notes, which I keep as well.
    Still working on the detail of posting my charts here. Hopefully this one will offer better dtail than the last two.
  4. Well, they can't all be winners. Time to go mow the lawn and maybe start the weekend early. No more trading today for sure.
    Loser was in the ER for 260 smackers. Chart and details to follow later today. Time to go for a ride on the lawnmower.
  5. Entered another 2 lot ER trade today. Didn't work out so well. Had an entry signal, but a weak one. 20/20 hindsight I should have lowered my profit target with such a weak set up. Hated to see +$300.00 go down to an eventual loser of $260.00 but at some point you gotta' live and die with your trading strategy, otherwise you have no point of reference to guide you down the path. Good news is my reversal signal saved me $140.00 as I got out before my stop would have been hit, which it would have been shortly after I got out. ES has looked sloppy all day. A smart guy would call it quits for the week, as everyone seems to be agreed it's a goofy market till after labor day. We'll see tomorrow.
  6. That was a pretty easy short to spot in the ER this morning. A gap that big has to be closed. Too bad I didn't have the balls to trade it for real. I doubt I'll make a trade today as the market just looks to spooky to me. Good luck to those that trade it today and have a safe and enjoyable holiday weekend.:D
  7. Yeah, that's why I won't touch the stuff.

    It's like the ES on steroids, and well know what happens when you come crashing down.

    Good Luck,

  8. Yes, I'm finding that out. The moves are rapid and the $$$$ come and go pretty damn quick. Hopefully my curiousity won't bust me up too bad. ES looks to be the "safer" playground, if there is such a place.
    I've read your Trading Pivots thread with interest. Thanks for sharing the details.
  9. Well hell! A perfect set up and I just watch it go by cause I have no balls. I decide not to trade and then watch the friggin market all day. Trade or do something else...ASSHOLE I am. :mad:
  10. Won't be trading this week due to "real job" schedule. As it turns out there were 3 ES set-ups and 1 ER setup today. 2 would have been profitable, 1 loser and 1 flat for a +$160.00 day on 2 lot trades. Of course, that's assuming I would have taken those trades in real time, which I cannot make that assumption. But, it's good to review the day and what might have been. If nothing else it helps train my eye for potential set-ups.
    #10     Sep 5, 2006