Systems, Strategies and Resources for Trading Futures Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Patrick Slevin who wrote (42321)	12/16/2000 10:36:25 AM
From: Atin	Read Replies (1) of 44573

My two (really 4, because I was placing orders on both the ES and the NQ -- since they seemed to be so closely related) trades in the morning sucked, but I netted 12.75 points on my 3 afternoon trades after I did some tweaking of my entry/exit/position size rules. Overall I still ended down due to the first 4 trades, but not as badly as before and feel more confident now. I still have a few weeks on the demo to go before I put down real money on my abilities as a trader! I need to learn more about risk management, both in terms of stop placement, and in terms of position size. The first four trades really messed me up (a net loss of $5K on those) and one thing I've realized is that it is really hard to make back such losses in one day. This is very good training, it is one thing to read about "cut losses quickly, let profits run" and quite another to actually see it working in practice! I'm trying to become more patient and making myself wait until I am really confident about the trade (ideal is a 3:1 profit/loss picture). It isn't in my makeup to "scalp" so I'm just fading all breakouts against the trend on the idea that markets have inertia and are resistant to change. With decent stop loss rules, I might do ok. I'm using a multiple timeframe sort of setup -- using the longer timeframes for trend analysis, shorter timeframes for overbought/oversold indication and a short timeframe PnF chart for signaling buy/sell and stops. I hadn't filtered everything until after lunch yesterday (when I had time to think about why I was down $5K in the morning!). I'm having a blast (this might be because my last 3 trades were wins <g>)! I may have found my calling (consistent losses 3 days in a row notwithstanding . . . I'll get better, I think <g>. At least I have my first 3 profitable trades, even if on paper only! ) -Atin

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next