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Stockmuffin's Mental Jouney
Started:October 23rd, 2010 (05:25 PM) by StockMuffin Views / Replies:835 / 3
Last Reply:October 25th, 2010 (06:15 PM) Attachments:0

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Stockmuffin's Mental Jouney

Old October 23rd, 2010, 05:25 PM   #1 (permalink)
Just starting out...
trinidad and Tobago
Futures Experience: Beginner
Platform: Ninja
Favorite Futures: ES TF
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Posts: 2 since Oct 2010
Thanks: 1 given, 3 received

Stockmuffin's Mental Jouney

Hello Everyone, Welcome to my Journal

My plan was to trade ES, and branch out from there with other contracts.

I have switched so here is my plan as it stands:

Contract: NQ
# contracts: 3
stop loss: 5 ticks on all 3
First 2 contracts Target: 7 ticks
Third Contract Initial Target: 12 ticks (depending on the strength of move let run)

I have a tendency to over trade (account is too small for that), so I will look for 3-4 trades between 6:30am-9am. At 10am-12:00pm and 2:30-4pm look for 3-4 more trade setups.

Losses/Day: 120.00-150.00 approximately (3k*.04 - 05)

TICK GOAL/DAY: 20 ticks
* Thursday tick total: -12
* Friday tick total: +18

On my winning days I have averaged 75%, one of my worst days was 50/50(loss/win) no money management.

Trading Plan (still a work in progress), but so far...
Check higher tick charts to check trend from previous day and overnight session.
Draw trend lines.
Start looking for setups on my smaller tick chart
If my CCI is going in the same direction enter trade.

I am also contemplating using the indicators from emini watch. I put Better Volume on my chart for the first time, and although I am not totally versed in its function, it looks promising.

Once I figure out how to post my chart setup I will.

Thank you to all who will read this.

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Old October 23rd, 2010, 05:25 PM   #2 (permalink)
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Old October 24th, 2010, 12:18 PM   #3 (permalink)
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Manta, Ecuador
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
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Old October 25th, 2010, 06:15 PM   #4 (permalink)
Just starting out...
trinidad and Tobago
Futures Experience: Beginner
Platform: Ninja
Favorite Futures: ES TF
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Posts: 2 since Oct 2010
Thanks: 1 given, 3 received


1. Why am I overtrading. I put on 18 trades today...not good. The worst part is I was up 180.00, before 9:00am with 9 trades completed.

2. My win percentage 55.

3. I traded against the longer time frame trend. Most of the day the CCI on the 450 and 1350 tick charts were not in agreement and I entered the trades anyway.

4. When the NQ took its tumble, I froze, trying to figure where to jump, instead of just put a market order in.

5. My stop is probably to tight, so might have to go 2 contracts, and bigger stop.

Overall a bad day.

For tomorrow:
8 trades max, then turn to sim

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