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Found another ES short. Could have gone for a higher entry, since there were 3, but rules are rules. RR isn't great. 1:1.
Futures trading journal - GB
- Thread starter Gringotts Bank
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ES at target.
GC at target, at the same time.
GC at target, at the same time.
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CL bias now short.
[edited: that chart I just took down was 1 min TF. So, daily bias is short, and the 5 min TF is the one I'm trading. No trade on the 5 min]
[edited: that chart I just took down was 1 min TF. So, daily bias is short, and the 5 min TF is the one I'm trading. No trade on the 5 min]
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Rules needs some clarification. Specifically, what max/min distance (number of ticks) between the entry and exit is acceptable? It's going to depend upon the instrument obviously. These don't need to be hard rules - just a vague range is ok.
These measurements represent the acceptable distance from the initial Vic2b pivot to the maximum excursion following market structure break.
ES: 30-70 ticks
FESX: 10-20 ticks
GC: 20-40 ticks
CL: 50-80 ticks
The other possibility would be to take all trades, regardless of distance, and use position sizing to equalize the risk. That would require trading micros. My understanding is that micros trade differently to the minis, is that correct?
These measurements represent the acceptable distance from the initial Vic2b pivot to the maximum excursion following market structure break.
ES: 30-70 ticks
FESX: 10-20 ticks
GC: 20-40 ticks
CL: 50-80 ticks
The other possibility would be to take all trades, regardless of distance, and use position sizing to equalize the risk. That would require trading micros. My understanding is that micros trade differently to the minis, is that correct?
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Testing some new position sizing scripts. The ones avalable on TV aren't much chop.
ES 5 min. Short 2. 2 targets. I think this trade might take out the monthly imbalance at 3572.
ES 5 min. Short 2. 2 targets. I think this trade might take out the monthly imbalance at 3572.
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Stopped out. First losing trade.
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Is this the distance between your stoploss and entry point? 70 ticks is pretty wide isn't it. Okay if you have a large account I guess in % terms
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i disagree , in my experience , paper trading in very good at highlighting flawed strategies , for sure finding solid strategies via paper trading is much harder ( and with mixed success )
but reducing bad strategies is something i find helpful ( and i enjoy less damage to the cash reserves as well )
good luck , and keep up the good work
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As I am currently paper trading I agree.
I look at it as though you cannot call yourself a profitable paper trader but there is no point in going live if you cannot make money paper trading. If you are paper trading and losing money then it is silly to start trading live and think for some reason you are going to become profitable. But if you are a consistently profitable paper trader then you still need to be dubious until you can get the same track record with live trades. I have no intention of going live until I can get some consistently on the Sim. If I can't get there then at least I've tried without losing money
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I was thinking it was on the small side? No, not a big account.
The distance marked by yellow arrow. In this case, it's 290 ticks, on the 5 min ES chart. (not an actual trade).
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ES $12.5 a tick. $875 risk. need a good win %!
Or are you trading micros
Or are you trading micros
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Why would win rate % need to be high? Is there some relationship between the amount risked and the WR that I'm unaware of?
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given that i used to punt on the race-tracks ( not completely different from trading , in it's approach )
you can do well on the percentage approach win big occasionally to offset several small losses ( between pay-days ) of course that takes patience and discernment , not every horse is a winner no matter how promising it looks on the record books
all investing ( and gambling ) is about risk v. reward ( and i have seen fortunes lost on those that double-down on 'unlucky bets ' , and other fortunes lost by those that confuse luck with skill ) ( i quit gambling when luck was saving me from the effects of poor judgment )
cheers
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profit ( after costs and taxes ) is what counts ( to most ) ( and that is a trap paper trading can hide from you )
now obviously you can have one nice win and quit ( forever ) but the usual tendency is to try and win again and again despite a string of poor outcomes
now of course you could trade you preferred market OR buy shares in a trading house/platform ( OFX for example ) and run a smaller but possibly reliable return that way
( i gave up the racecourses and bought TAH and got some TLC from the demerger as an example )
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High TF bias.
GC short
HSI short
CL short
others, no bias.
GC short. 5 min chart.
GC
GC short
HSI short
CL short
others, no bias.
GC short. 5 min chart.
GC
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I'm always on the lookout for a better way, a short cut, higher efficiency, greater returns for less work. In my view, the aim of trading is to do the least amount of work for the highest return.
Getting the higher TF bias right is the key. After all, if you can do this, even an 'MA crossover' system is going to do well.
Getting the higher TF bias right is the key. After all, if you can do this, even an 'MA crossover' system is going to do well.
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Apparently 80% of traders lose over the long term. Of the 20%, I don't know what the break down is. I'd guess 5-10% make enough to live off.
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Big green candle to stop out the gold trade.
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No but obviously the more you risk percentagewise you are going to need a decent R:R to skew the results in your favour. If you have that it is good and carry on. I guess when you get more stats will know how you are going.
Just would not take much to dig a decent hole was my concern
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Indices sitting on FVGs, no real direction. It's going to last a bit longer by the feel of it.
GC short bias, but not interested.
ES: if it breaks down through the monthly imbalance, will go to 3543.5 in a hurry.
GC short bias, but not interested.
ES: if it breaks down through the monthly imbalance, will go to 3543.5 in a hurry.
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