It would be interesting to know the total result from start till now. Only then you can draw conclusions. I have the impression that total profit from start till now will be very small, if there is already some profit. Analyze what you did till now and try to improve it. Because one thing is sure: there is room for improvement.
He did a quick recap here for December. http://www.elitetrader.com/et/index...-300-daily-profit.296299/page-41#post-4225529 90 ES points is a gold mine in my books. Even with commissions, that is easily over 4k. And lets not forget its only on 1 contract. As everyone knows, consistency is most important, and if the point of this thread was to maximize profits, I'm sure he can do everything as he is doing and just increase contracts, at least that's my opinion. But he did state he is just trying to show a simple approach. (granted, he sometimes breaks this rule by having much bigger winnings days, and maybe today he is down more than 6 points, who knows where it ends, but hey, if a trade setups up, it setups up). Anyway, I like your posts @i am nobody so I wanted to jump in here even though this is clearly schizo's business (i think you're one of the guys that is killing it but being quiet... correct?). I just wanted to say that I've been following this thread for a while and its better than anything I've ever seen shown for a beginner. Most people would kill for these kinds of profits, and its amazing to see that it comes from the average of slightly bigger profits over slightly smaller losses.
I'm up over 70% since the inception of this thread. I've only had one losing day that I actually lost money. Today will be the second.
my2cents, The 30mn has given a nice reversal up close + green Histo, but the 30bbands appear to be wide and we should see tonight's upside run out of steam around 95-96.
Everything was wrong from the get-go! Overtrading, revenge trading...just bad trading, period. Today's the second day of loss since the inception of this journal. However, thankfully, it ain't so bad as I thought. I was worried that I might have lost more than 6 points and thereby broke my own rule that I would fold shop when I hit the threshold. Well, that never happened. This day ends with -3 points or $150 in the red. Code: Today's Trade Stat No. of Trades (Round-trip)*: 19 No. of Winners: 6 No. of Losers: 13 W/L Ratio: 0.46 Avg Gain: 2.33 Avg Loss: 1.31 Cumulative P/L: -3 Points * Breakeven trades have been omitted $300 Daily Challenge (1/04/16 - 1/29/16) Winning Days (>= $300): 2 Losing Days (< $300): 1
Sorry for the late reply. Although I try, I can only give a cursory glance to others' post while I'm in the trade. Anyway, to answer your question, I mostly use stop market orders. I know, slippage sucks. But what sucks even more is that I chase after runaway price. So I rather pay a slippage for getting in early.