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NMTraders ES Journal


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NMTraders ES Journal

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  #21 (permalink)
 caprica 
USA
 
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Wow that is heart wrenching.

Does your trading plan allow for a maximum daily loss, or coincidentally a maximum daily profit target? Not every day can be a winner, it is crucial to minimize risk and losses so that no matter what the cause for an off day you can minimize the negative impact.

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  #22 (permalink)
 NMTrader 
New Mexico, USA
 
Experience: Intermediate
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Broker: AMP/CQG
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No, I do not have any daily trading limits. I just trade the signals I see. Usually not many except for these past two days.

I have tried setting daily limits and it hampered my trading. I would be a lot more conservative if I had lost on my first trade or second guess myself to the point I would miss good trades and then start taking trades to catch up. I have taken a course to help me deal with such things since then so it may be a good idea to see how I would react now.

Thanks for the insight!!

Regards, NMTrader
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  #23 (permalink)
 NMTrader 
New Mexico, USA
 
Experience: Intermediate
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I will be revamping my rules this weekend and begin using it next week. The one thing I will start utilizing are daily goals both in profits and losses. Other than that I will review the rest of the month, weeks to see what else may need to be tuned. The first half of the month was going along great...then seems I hit a wall of something!!! I need to figure out what that was.

I will also be adding VMWare so that will be interesting.

Regards, NMTrader
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  #24 (permalink)
 caprica 
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NMTrader View Post
I will be revamping my rules this weekend and begin using it next week. The one thing I will start utilizing are daily goals both in profits and losses. Other than that I will review the rest of the month, weeks to see what else may need to be tuned. The first half of the month was going along great...then seems I hit a wall of something!!! I need to figure out what that was.

I will also be adding VMWare so that will be interesting.

I am curious why you are revamping? Your method looked good to me.

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  #25 (permalink)
 NMTrader 
New Mexico, USA
 
Experience: Intermediate
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Hi Caprica,
Revamping might have been too harsh of a word to use. All I really did is review this past months journal to see if there was anything that may have effected my trading this past week and to also keep my losses low.

I will write my findings on today's journal.

Thanks,

Regards, NMTrader
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  #26 (permalink)
 NMTrader 
New Mexico, USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP/CQG
Trading: ES
 
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Posts: 77 since Jun 2009
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After a horrible week or so of trading and a weekend of evaluating it here are my first days results.


Regards, NMTrader
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  #27 (permalink)
 jonesr9 
FL
 
Experience: Intermediate
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Nice trading NMTrader. You might want to record any changes you've made and log it into your journal for future reference.

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  #28 (permalink)
 NMTrader 
New Mexico, USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: AMP/CQG
Trading: ES
 
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Posts: 77 since Jun 2009
Thanks: 30 given, 42 received

Hi Jonesr9,
I did enter it in my journal but I forgot to post it!! Thanks for the heads up!

There you go, it is now posted. Thanks Again!

Regards, NMTrader
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  #29 (permalink)
 record100 
Toronto, CA
 
Experience: Intermediate
Platform: NT
Broker: IB
Trading: YM, ES
 
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how is your countertrading strategy works? on what signal you enter the trade? do you follow any strategy or approach published ?

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  #30 (permalink)
 YuvalW 
USA
 
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Hi NMTrader,

Very nice to read, thank you.
What is the timezone displayed in your charts?

thx,

Yuval.

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