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No these are just daytrades. Was going for 1 pt but now I'm trading 2 if I'm confident in which case I go for +1 and then whatever I can get. But once they go in my direction a bit I will get out if it comes back to my entry.
I am short 1207 for a swing trade. I posted 3 hypotheses on my blog this morning and I believe #2 is playing out. I expected the market to go to 1207.50 to 1216.50.
Ended up 4 pts today..
Took a 2 tick loss on the last one, it now has dropped below my entry but I didn't want to risk anything in the last 15minutes..
Still trying to get into the habit of liking small losses. It's not easy for me.
my target is usually 4 ticks.. and then I stop... I figure if I can get 4 ticks time and time again, I can then build size... which is what you are after as well ... I dont know about 100 cars though ... my max is still 25-30 cars... even if the account surpases what I need to trade 50-100 cars... maybe one day I would build fortitude and trade that size...
btw, congrats on another profitable day... I see you made your piece of the tie today again...I made my 4 ticks and was done, but since I watched the charts all day since I was home.. I am now looking at @US, it seems rather interesting, at least from watching it today.
I guess you didnt jinx it today you were up the most I have seen you ... I missed the whole thing, didnt had a chance to trade before I left home and then spent all day long in meetings.. tomorrow is the same thing for me, no chance to trade during the day at all..
Yesterday my gross profit was high but I traded very badly on ES. I overtraded and I entered too early several times and ended up scratching several trades. As a result my avg win was $15/contract and commissions took a toll on my profits. So I need to focus more on this. I'm currently trading 2 contracts and I need this under control before I increase my size to 3.
It's ironic actually because I went short 23.75 and got +1 & +2 pts on it. That's $150. All before the open. At the end of the day I didn't make much more than that on ES and I had like 20+ trades. And best of all, had I simply held that first trade I would have made 16 pts! (Of course there was no way to know that at the time but I do think it is ironic.)