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Trade 1
Long @3:19pm EST
Entry 3976.75
Exit 3977
Result +$12.50
Trade 2
Long @3:25pm EST
Entry 3975.75
Exit 3976
Result +$12.50
Trade 3
Short @3:42pm EST
Entry 3988.75
Exit 3988.50
Result +$12.50
Trade 4
Short @3:43pm EST
Entry 3990.25
Exit 3990
Result +$12.50
Trade 5
Short @3:46pm EST
Entry 3996.25
Exit 3996
Result +$12.50
Result for day for ES trades +$62.50
Of note: I traded the MES 15 round turns for +$33.75. I was giving the micros a try but am losing interest.
Came back to the ES market at the end of the day. Was taking 1 tick profits on all trades (probably a recipe for disaster).
Trying to buy low, sell high without getting ran over by momentum.
Trying not to overtrade also, there may be only a 1 to 3 trades a day.
Something jumps out at me when I look at your trades. Your losing trades are costing you $200+ but your winners are much smaller. I apologize for not reading more of your journal but does your trading plan involve taking profits so early on profitable trades?
Yes. Over time, you will be in the red. Your winning days have to be on average larger than your losing days.
If you care about r:r, 1:1 requires a high probability win rate over time. 80-90% win rate. Otherwise you need to aim for at least 1:2, where you have your take profit twice the size of your stop loss. A realistic goal would be at least 1:3 with 60% win rate. If it hits, great, if not at least you are 1:2 or break even at worst.
If you don't care about r:r ratio. You need cut your losers asap, keeping them small, so that they don't eat away at your winners. B/E or small losses are considered a win as over time, your true winners will add up.
Look at your trade stats, find what your avg.MAE and avg.MFE are at. Use those as your S/L and T/P.
I too also struggle with cutting my loser faster. This is the recipe I know will get me consistently profitable. I believe it can help you out too.