The short sell

Discussion in 'Journals' started by coolweb, Jun 8, 2006.

  1. Targets: YM , NQ , ES

    Timeframe: 3min / 60min

    Entries: 1 per day , 1 stop out a day.

    Stops: 5-10 points
    Reward: 10-20 points

    Entry timeframe: 3 minute timeframe.

    lot size: 1 lot wonder warmups. (probably a lot more later on)

    Idea behind strategy,
    When price action starts a downtrend (very begining), price action has a probability of 75% of not "reversing" if we are in a downtrend on the larger frame.

    Reversing is defined by my methods, some examples would be a higher bar then the downtrending bar, things like that.
    The other 25% we will be stopped out.

    Idea behind timeframe,
    Trading futures is like masturbation, profits have to be taken quickly or else someone is going to walk in while your pants are down.
    Futures move too violently to trade entried on a higher timeframe such as 60minute etc, Stops have to be widened, I'm not comfortable with such large stops.

    Idea behind profit taking,
    If 1 lotting, Take profits at any heavy selling, long range bars.

    Idea behind signals,
    Signals automated generated, I don't feel like sitting here watching futures.

    More ideas to be written down as time goes on.

    I've always mentioned that stocks should be invested, futures should be traded. the idea has never changed yet but has been improved upon. Shorting is short term trading.

    Should be stress free and profitable :D
  2. SHORT YM 10941

    STOP 10944

    --- [stopped out 2 minutes later]
  3. Was it stress free??

  4. very stressful
    I'm losing lots of confidence in my trading ability these days..

    I can't sleep
    I can't eat..

  5. I wuz just messin' wid ya.

  6. SHORT YM 10962

    STOP 10965

    stop 10968
  7. Stopped out -6

    current score: - 9
  8. are you serious?

  9. Hi Coolweb
    Couldnt swing over to ES could you!
  10. Take a look at 'Unusual Volume' with the list of stocks you trade. Use the definition of current volume (daily total) / 65 day average volume. You can use the threshold levels for both long and short trades. If you have Qcharts, the program uses the same definition as above.

    I hope that helps.

    - Spydertrader
    #10     Jun 14, 2006