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quantum27 ES trading journal


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quantum27 ES trading journal

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  #41 (permalink)
 cclsys 
Sydney, NS
 
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Bad luck on the stops on those first two long entries. With hindsight, after the first one was taken out and the price quickly bounced back, re-entering on the higher high of that stop-taking bar would have redeemed the initial position which was 'right'.

The second stop was at a level at which one could reasonably expect the market to correct, i.e. within a tick or so of the HH BO level at 1093 - 1092.50.

I don't know what your method is, but that was a great short with a very good #2 tgt near your value area and clear SR from previous low.

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  #42 (permalink)
quantum27
Sydney/Australia
 
 
Posts: 137 since Aug 2009
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Focus for December

- I must focus on my execution.
- I must focus on max loss for the day is 8 points. Assume the day will end up with -8 point loss, any profit beyond that is a bonus.
- I must take my 10min break after 2 loss.
- Rehearse taking losses.
- Trade first 1.5hr
- Never move BE stop after profit.
- Never move a stop.
- Being selective for bullish/bearish bar entries. Scratch if it doesn't move.
- Watch out for chasing trades. It only leads to bad entries, and potentially getting my stop hit.


I'm starting a scoring system, this will be tallied for the day:

+1 point for:
- Correct entry
- Correct profit taking
- Correct loss taking

-1 point for:
- moving stop
- missed trade
- improvising trades
- greedy with profit taking
- trading after first 1.5hr

All accumulated points for the day will be lost, and day set for -1 if:
- Exceeding max risk for the day
- Not taking a break after 2 losses

I'll calculate tallied points, and also percentage of possible points for the day.

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  #43 (permalink)
quantum27
Sydney/Australia
 
 
Posts: 137 since Aug 2009
Thanks: 2 given, 64 received


Tuesday 1st December 2009



Exceeded today's daily risk. -1 point for the day.




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  #44 (permalink)
quantum27
Sydney/Australia
 
 
Posts: 137 since Aug 2009
Thanks: 2 given, 64 received

Monday 7th December 2009

I need to be more selective with my trades. I need to be ok to not trade for the day. Still got -1 for the daily score, because I exceeded my daily risk. If I were more selective, then I could have had 0 trades for the day, and hence no losses.

Focus for December
- I must focus on my execution.
- I must focus on max loss for the day is 8 points. Assume the day will end up with -8 point loss, any profit beyond that is a bonus.
- I must take my 10min break after 2 loss.
- Rehearse taking losses.
- Trade first 1.5hr
- Never move BE stop after profit.
- Never move a stop.
- Being selective for bullish/bearish bar entries. Scratch if it doesn't move.
- Watch out for chasing trades. It only leads to bad entries, and potentially getting my stop hit.







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  #45 (permalink)
quantum27
Sydney/Australia
 
 
Posts: 137 since Aug 2009
Thanks: 2 given, 64 received

What I did well:
- Some nice trading. Scored well.

What can be improved:
- Probably should have called it a day once I took the first profit +3.75. I need to be taking the best trades, and not overtrading.

I've changed the scoring, with exceeding risk causing the whole day to be -10. The 2 lines on the graph shows what the maximum score I can get for the day, and what the actual score I got. The aim is to have both lines the same.





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  #46 (permalink)
 Big Mike 
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Just wanted to congratulate you again on maintaining your journal, and also your bullet points, it really shows advanced wisdom with regards to trading



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  #47 (permalink)
quantum27
Sydney/Australia
 
 
Posts: 137 since Aug 2009
Thanks: 2 given, 64 received






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Last Updated on December 14, 2009


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