Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Trade 1 MES
9:24am long 5245.50
9:34am added 1 contract long 5252.25
9:41am added 1 contract long 5254.75
10:00am exit all contracts 5261.50
Result +$160.00
Trade 2 MES
10:02am short 5272.25
10:05am exit 5272.25
Result $0.00
Trade 3 MES
10:10am short 5266.25
11:31am exit 5280.50
Result -$71.25
Trade 4 MCL
10:22 short 86.11
10:40am added 1 contract short 85.70
10:50am exit both contracts 85.90
Result +$1.00
Trade 5 MES
11:31am long 5279.75
11:50am exit 5276.50
Result -$16.25
Trade 6 MES
11:51am short 5276
11:52am added 1 contract short 5275
12:01pm added 1 contract short 5270.25
12:10 exit all contracts 5274
Result -$3.75
Trade 7 MES
12:10pm short 5270.75
12:12pm added 1 contract short 5268.75
12:38pm added 2 contracts short 5267
1:20pm exit all 4 contracts 5275.75
Result -$132.50
I may have time to trade tomorrow. I'll take whatever the market gives me. I was thinking how the market likes to remind me not to be stubborn. I will often think I have a new and revolutionary idea that will make me money continuously and forever. The market reminds me to use my head and think and do not just follow a rigid plan. Plans in my head will often get destroyed by my results I get from the market. I pretty much just trade by instinct at this point. Is the pnl improving in my trading? I have not gone through the results and counted every dollar made and lost. All I know is I will likely continue trading.
Not really working on too much with my trading, just honing my DOM reading abilities. As I have said before I really don't look at charts.
I am starting to think about the dollar and precious metals a little more in addition to the SP and oil.
I do think luck has a lot to do with it. Like on April 4th when the market sold off 100 handles in the afternoon I debated holding my shorts into the afternoon when I went to work but didn't do it.
The market will test my position as well. If i'm long at 10 the market will trade at 9 and 8 before confirming that I was right on the trade most often. That's why trailing stops moved to break even often get triggered. Not saying that the market cares about my particular position but this will often happen to a cluster of orders that are resting in the market in places where my orders often are located as well.
I also think its a matter of will power. As a trader I want the sum of the winners to be larger than the sum of the losses. The guy/girl I trade with wants the exact same thing. Who has more will power to produce the desired result? I suppose there really is no being a nice guy in the markets. Its pretty cut throat.
Furthermore, going into any market with a fixed stop and profit target is like giving money away. The market is a changing and moving organism that eats whatever is put in front of it. I think the idea of a fixed stop loss is different than closing a loss on a bad trade. There is different mindsets with the two. One I am not even thinking and the other is dynamic and changes with the environment.
Oh and I really do think rate cuts are a bad bad idea for this economy. The job market is strong and oil is creeping into the upper 80s at times which is a proxy for higher inflation. If anything rates need to go up and oil needs to be pulled back into the mid 60s for this economy to really function.
I've gone back the last few pages in this journal. I don't know what's your method but you go for small profits and most days take a large number of trades. Sometimes a dozen or more. Are you not getting eaten up by commissions?
