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shodson's Trading Journal

  #481 (permalink)
 
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 Big Mike 
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  #482 (permalink)
 
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 cory 
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shodson View Post
Thursday, December 2nd - The gap setups don't get much better than this. And those seem to be the ones that hurt me the most.

..

last one was -70% I imagine this one is even worse are you going to change your gap strategy or do you have some other stuffs to fall back on?

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  #483 (permalink)
 mainstream 
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shodson View Post

ES: -18 ticks
YM: -40 ticks
TF: -19 ticks




I looks like you could have gone to breakeven plus one on a few of these trades man. Lately I'm break even plus one as soon as I can.... cause I'd rather end flat on the day than take a hit... Hindsight being twenty twenty.

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  #484 (permalink)
 
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 shodson 
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Recovery is right around the corner...
Recovery is right around the corner...
Recovery is right around the corner...
Recovery is right around the corner...
Recovery is right around the corner...
Recovery is right around the corner...
Recovery is right around the corner...

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  #485 (permalink)
 
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 shodson 
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mainstream View Post
I looks like you could have gone to breakeven plus one on a few of these trades man. Lately I'm break even plus one as soon as I can.... cause I'd rather end flat on the day than take a hit... Hindsight being twenty twenty.

I hear ya. On the other hand I've gotten plenty of winners that came close to my target, revisited my entry and then hit my target. I would have missed out on those. It is one of the challenges of trading with fixed targets/stops. On my FHG trades, since I manage them with ATM, I usually go B/E when I get 90-95% of my target fulfilled. The automated gap trades, though, don't have any dynamic trade management in them. I may add this later, but it's not that way right now.

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  #486 (permalink)
 
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 Big Mike 
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mainstream View Post
I looks like you could have gone to breakeven plus one on a few of these trades man. Lately I'm break even plus one as soon as I can.... cause I'd rather end flat on the day than take a hit... Hindsight being twenty twenty.

In my opinion, BE+1 will not work in the long run. You have to set/trail stops based on price action, not some arbitrary number.

Mike

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  #487 (permalink)
 mainstream 
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Big Mike View Post
. You have to set/trail stops based on price action.

Absolutely. That depends a great deal on the instrument you're trading and the volatility of the day or time of day. For example the ES or the ZN... you can enter the market at the right time/price and sit for hours a few tick from a stop and never be hit. Other contacts require more proactive trade management.

Either way Mike, your multi contract system you have both a small target and a runner potential. Don't you move to BE after your first target?

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  #488 (permalink)
 
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 shodson 
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I've been studying volume and time quite a bit lately and discovered some apparent patterns, especially relative to S/R.

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  #489 (permalink)
 
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 shodson 
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Friday, December 3rd - NO TRADES

Monday, December 6th - Took two gap trades, an up-gap on NQ and a down-gap on YM, both small winners.

YM: +7 ticks
NQ: +13 ticks





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  #490 (permalink)
 incometrade 
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It's nice to see you had a profitable day, even though you say small. You had a couple ruff days last week but didn't give up. I think its good that your still trusting your system and not trying to change because of a couple off days. Good luck!

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