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Blackgrey45 Journal

  #111 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL ES MES M6E MGC
Frequency: Several times daily
Duration: Minutes
Posts: 777 since Jul 2022
Thanks Given: 874
Thanks Received: 908

1 trade.
1 contract.
Market ES
Long @12:36pm EST
Entry 4073
Exit 4068.75
Result -$212.50

Interesting to note, natural gas is down 14% on the day!

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  #112 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL ES MES M6E MGC
Frequency: Several times daily
Duration: Minutes
Posts: 777 since Jul 2022
Thanks Given: 874
Thanks Received: 908

Took a trade this evening
Market ES
Long @6:18pm EST
Entry 4053.75
Exit 4054.25
Result +$25.00

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  #113 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL ES MES M6E MGC
Frequency: Several times daily
Duration: Minutes
Posts: 777 since Jul 2022
Thanks Given: 874
Thanks Received: 908


A sea of red for most futures contracts. Powell emphasizing higher rates very possible going forward putting headwinds against most assets.

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  #114 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL ES MES M6E MGC
Frequency: Several times daily
Duration: Minutes
Posts: 777 since Jul 2022
Thanks Given: 874
Thanks Received: 908

12 trades.
1 contract each.

2 ES trades result -$87.50
10 MES trades result +$155.00

Daily result +$67.50 (fees not included)

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  #115 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL ES MES M6E MGC
Frequency: Several times daily
Duration: Minutes
Posts: 777 since Jul 2022
Thanks Given: 874
Thanks Received: 908

5 trades.
1 contract each.
Market ES

Trade 1
Long @3:19pm EST
Entry 3976.75
Exit 3977
Result +$12.50

Trade 2
Long @3:25pm EST
Entry 3975.75
Exit 3976
Result +$12.50

Trade 3
Short @3:42pm EST
Entry 3988.75
Exit 3988.50
Result +$12.50

Trade 4
Short @3:43pm EST
Entry 3990.25
Exit 3990
Result +$12.50


Trade 5
Short @3:46pm EST
Entry 3996.25
Exit 3996
Result +$12.50

Result for day for ES trades +$62.50

Of note: I traded the MES 15 round turns for +$33.75. I was giving the micros a try but am losing interest.
Came back to the ES market at the end of the day. Was taking 1 tick profits on all trades (probably a recipe for disaster).
Trying to buy low, sell high without getting ran over by momentum.
Trying not to overtrade also, there may be only a 1 to 3 trades a day.

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  #116 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL ES MES M6E MGC
Frequency: Several times daily
Duration: Minutes
Posts: 777 since Jul 2022
Thanks Given: 874
Thanks Received: 908

4 trades, 1 contract each, Market ES

Short @9:34am EST
Entry 4004.75
Exit 4004.25
Result +$25.00

Short @9:49am EST
Entry 4017
Exit 4016.25
Result +$37.50

Long @10:08am EST
Entry 4009.75
Exit 4010.25
Result +$25.00

Long @10:17am EST
Entry 3999
Exit 3999.75
Result +$37.50

Calling it a day at about 11am. Day result +$125.00

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  #117 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL ES MES M6E MGC
Frequency: Several times daily
Duration: Minutes
Posts: 777 since Jul 2022
Thanks Given: 874
Thanks Received: 908

2 trades, 1 contract each, Market ES

Trade 1
Long @7:50am EST
Entry 3912.75
Exit 3913
Result +$12.50

Trade 2
Long @8:02pm EST
Entry 3912.75
Exit 3908.50
Result -$212.50

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  #118 (permalink)
 
Tuglife's Avatar
 Tuglife 
Escondido CA USA
 
Experience: Beginner
Platform: Sierra Chart
Trading: YM
Posts: 168 since Jan 2020
Thanks Given: 88
Thanks Received: 174

Something jumps out at me when I look at your trades. Your losing trades are costing you $200+ but your winners are much smaller. I apologize for not reading more of your journal but does your trading plan involve taking profits so early on profitable trades?

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  #119 (permalink)
 
blackgrey45's Avatar
 blackgrey45 
Marco Island, FL
Legendary Market Wizard
 
Experience: Beginner
Platform: Sierra Chart
Broker: AMP Global
Trading: MCL ES MES M6E MGC
Frequency: Several times daily
Duration: Minutes
Posts: 777 since Jul 2022
Thanks Given: 874
Thanks Received: 908

Yeah, my profits are usually smaller than my losses and my winning days are smaller than my losing days. Is that bad?

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  #120 (permalink)
 injpowwetrust 
San Francisco, CA
 
Experience: Intermediate
Platform: NinjaTrader
Trading: ES
Posts: 205 since Feb 2023
Thanks Given: 1,221
Thanks Received: 414



blackgrey45 View Post
Yeah, my profits are usually smaller than my losses and my winning days are smaller than my losing days. Is that bad?

Yes. Over time, you will be in the red. Your winning days have to be on average larger than your losing days.

If you care about r:r, 1:1 requires a high probability win rate over time. 80-90% win rate. Otherwise you need to aim for at least 1:2, where you have your take profit twice the size of your stop loss. A realistic goal would be at least 1:3 with 60% win rate. If it hits, great, if not at least you are 1:2 or break even at worst.

If you don't care about r:r ratio. You need cut your losers asap, keeping them small, so that they don't eat away at your winners. B/E or small losses are considered a win as over time, your true winners will add up.

Look at your trade stats, find what your avg.MAE and avg.MFE are at. Use those as your S/L and T/P.

I too also struggle with cutting my loser faster. This is the recipe I know will get me consistently profitable. I believe it can help you out too.

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