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Small losses...large gains...sometimes
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Created: by Family Trader Attachments:17

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Small losses...large gains...sometimes

  #31 (permalink)
Elite Member
Palm Beach County
 
Futures Experience: Advanced
Platform: OEC about to change to Ninja
Favorite Futures: ES ,EUR/USD
 
Posts: 179 since Feb 2011
Thanks: 66 given, 89 received

Series still alive ...last trade was S 130750...closed at 130600...3rd series actually yielded a net profit

Just got back to find I missed a trade...have to wait it out or catch up with it sometime later...and will start the 4th series.

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  #32 (permalink)
Elite Member
Palm Beach County
 
Futures Experience: Advanced
Platform: OEC about to change to Ninja
Favorite Futures: ES ,EUR/USD
 
Posts: 179 since Feb 2011
Thanks: 66 given, 89 received

Have woken up to find my missed trade has cost me +10 at 4th level 3rd trade...cost me big time as losses very small....damn, damn!! ...can't be here 23 hours a day and I do have a life. The trades would have been

S130625
L 130800...and it hit

In summary, the 1st series was (3 1/2)...2nd series was net ( 1 1/2) as had a profitable trade...3rd series was net profit...+3...

Overall series was net loss (2)....plus comms on 30 contracts... a pain

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  #33 (permalink)
Elite Member
Palm Beach County
 
Futures Experience: Advanced
Platform: OEC about to change to Ninja
Favorite Futures: ES ,EUR/USD
 
Posts: 179 since Feb 2011
Thanks: 66 given, 89 received


After my little disappointment from last night...there was absolutely nothing to do...and probably not before tomorrow sometime IF it backs off to around 1223...

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  #34 (permalink)
Elite Member
Palm Beach County
 
Futures Experience: Advanced
Platform: OEC about to change to Ninja
Favorite Futures: ES ,EUR/USD
 
Posts: 179 since Feb 2011
Thanks: 66 given, 89 received

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Family Trader View Post
Have woken up to find my missed trade has cost me +10 at 4th level 3rd trade...cost me big time as losses very small....damn, damn!! ...can't be here 23 hours a day and I do have a life. The trades would have been

S130625
L 130800...and it hit

In summary, the 1st series was (3 1/2)...2nd series was net ( 1 1/2) as had a profitable trade...3rd series was net profit...+3...

Overall series was net loss (2)....plus comms on 30 contracts... a pain


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  #35 (permalink)
Elite Member
Palm Beach County
 
Futures Experience: Advanced
Platform: OEC about to change to Ninja
Favorite Futures: ES ,EUR/USD
 
Posts: 179 since Feb 2011
Thanks: 66 given, 89 received

Have started trading a new signal...series 1

S 132875

One of the things I am going to explore is the dirfference between setting the profit goal based on the initial entry as opposed to running profit goal...

Reason although there should be little difference it may provide opportunities to exit earlier with a profit if the initial entry is lower + side/ or higher - side compared to the running profit goal of +/- from the last entry.

Have to find time to do it ...my only concern is what kind of additional exposure do I have when compared to the 2 different profit goal levels...not concerned about the profit differences.

I would go with the lesser exposure even if it means less profit...

Just reversed ...L 133050 ...ouch...

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  #36 (permalink)
Elite Member
Palm Beach County
 
Futures Experience: Advanced
Platform: OEC about to change to Ninja
Favorite Futures: ES ,EUR/USD
 
Posts: 179 since Feb 2011
Thanks: 66 given, 89 received

Have a chance to update

S2925...3rd trade
L2950
S2875

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  #37 (permalink)
Elite Member
Palm Beach County
 
Futures Experience: Advanced
Platform: OEC about to change to Ninja
Favorite Futures: ES ,EUR/USD
 
Posts: 179 since Feb 2011
Thanks: 66 given, 89 received


Family Trader View Post
Have a chance to update

S2925...3rd trade
L2950
S2875

Ok we have completed series 1 with a 10 point profit @ 131875..

Net result...10 - 4= 6 points before comms.

I am packing it in for today...hope all have a pleasant weekend..

Trader

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  #38 (permalink)
Elite Member
East Coast
 
Futures Experience: Beginner
Platform: NinjaTrader,
Favorite Futures: es
 
Posts: 83 since Aug 2010
Thanks: 272 given, 24 received

Settings of Indicators

Hi Family Trader,

Thank you for the nice journal.

I have questions regarding the indicators you use in your ES chart---

1. What's the Period of EMA? Is it EMA 50?

2. What's the Period of Chande Momentum Oscillator?

3. What's the Period of William's%R?

Thank You In Advance & Good Trading to You!


Family Trader View Post
Posting a journal covering a simple ES trading strategy that has a base 10:1 (win/risk) where the returns deminish over each loser in time .

I am computer illiterate so getting me to set up charts etc will be a challenge...

In the meantime, I can say the settings are a 5 point price range bar and an ema setting...that'it...

The average loss runs around 1 point...profit goal 10 points... Average trades per day varies between 3 and 6 .

After 5 consecutive failures will increase allocation by 1 contract...and every 5 consecutive losses will continue to add another contract.

Account adequately covers initial loss by approximately 480 times.

I shut down trade before close and re open...just a habit I have developed...can go for me as against me...

Downside... needs 23 1/2 hours attention!!!... and a lot of patience...and there will be times that I am going to be "lucky" by missing a trade as I can be very unlucky if it hits and I am not on it..I accept that.

ES market volatilty suitable for trading this method......not perfect..won't get rich ,but will be profitable..

In the meantime I trade ES and 6E ...maybe journalize a strategy in 6E at a later date...

To each his own, but if there is one thing I would like to say is that I have finally come to grips with being properly capitalized to trade...

Hoping journalizing will keep me focused and assist in maintaining discipline.

Trader


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  #39 (permalink)
Elite Member
Palm Beach County
 
Futures Experience: Advanced
Platform: OEC about to change to Ninja
Favorite Futures: ES ,EUR/USD
 
Posts: 179 since Feb 2011
Thanks: 66 given, 89 received

To answer in reverse

Williams% is voodoo...I trade using it as a contrarian indicator from what it is intended...only used when I have not a trade on..runs around 50% ..pretty much most of the time.

CMO is work in progress...has high probability signals around +/- 40 and 50 'breakdown'

I use EMA100 and a 5 point momentum price range...seems to be unique to OEC...so you can look at straight 5 point price range using other platforms...

I was going to switch brokers and go with Ninja...have completely backed off and will definitely purchase MultiCharts and stay with OEC..

BUT I will need help with writing my stratgies to go 'auto' as I am pretty dumb when it comes to computers .My strategies are simple with just a couple of conditions related to order placements and stop loss ...the latter runs off daily opening balance percentage NOT price ..

Someone?

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The following user says Thank You to Family Trader for this post:
 
  #40 (permalink)
Elite Member
East Coast
 
Futures Experience: Beginner
Platform: NinjaTrader,
Favorite Futures: es
 
Posts: 83 since Aug 2010
Thanks: 272 given, 24 received

Period of William's%R



Family Trader View Post
To answer in reverse

Williams% is voodoo...I trade using it as a contrarian indicator from what it is intended...only used when I have not a trade on..runs around 50% ..pretty much most of the time.

CMO is work in progress...has high probability signals around +/- 40 and 50 'breakdown'

I use EMA100 and a 5 point momentum price range...seems to be unique to OEC...so you can look at straight 5 point price range using other platforms...

I was going to switch brokers and go with Ninja...have completely backed off and will definitely purchase MultiCharts and stay with OEC..

BUT I will need help with writing my stratgies to go 'auto' as I am pretty dumb when it comes to computers .My strategies are simple with just a couple of conditions related to order placements and stop loss ...the latter runs off daily opening balance percentage NOT price ..
Someone?

Hi Family Trader

Thank you for your reply. Currently I have NinjaTrader 7 and CMO (it's probable OEC inbuilt indicator) is not avalable, I added EMA 100 to my ES chart. Could you check your indicator and let me know what the period of William's%R is? Please check the attachment for my request. TIA

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Small losses...large gains...sometimes-williamsr.gif  
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