Dow 2007

firewalker99 said:
Didn't you say you weren't going to take any trades before 1630 (or 1530 your time)?
Click to expand...

No - that rule got amended to "don't trade the open", which means I take a position when I see an opportunity, but not too close to the open. This trade was half an hour in.
 
£42 margin remaining. Need £45 for the Dow. I wonder if I could scalp a few off the FTSE, then go back to the Dow?
 
lurkerlurker said:
£42 margin remaining. Need £45 for the Dow. I wonder if I could scalp a few off the FTSE, then go back to the Dow?
Click to expand...

Listen to my risk management go out the window. I lost my daily loss in one trade in a few minutes. That means no trades until tomorrow. I am going to wire £3 additional margin, which means I have to stop again if my first trade doesn't win tomorrow.

Trying this on paper for the remainder of the day.
 
Hi everyone,

Here is me setting off with a short @ 13378 cash. SL @ 408

Not sure what to expect today but looks like we've reached the tops of my std err channels on the 1 hour charts and expecting some drop down. Really just going on the charts.

Good trading all.
 
I was tempted to take a short on the Dax at the top of the Dow since it seems to be a correlated market to get my £3 margin, but didn't.
 
Instant credit card deposits! Deposited £3.

Whatever happens, I can't change the fact I lost £35 because of slippage. I've broken my daily loss rule now, so I might as well trade again if I see an opportunity.
 
lurkerlurker said:
I wonder if I should wire extra margin, or trade my CMC account....
Click to expand...

Paper trade. No point in throwing good money after bad.

How are your consistency / expectancy stats going? How many trades right how many wrong. Average win / loss ratio etc etc.

Stay out for the day now that you've lost the 30. Means you'll value tomorrows trade more.

Paper trade imo. :)
 
lurkerlurker said:
Instant credit card deposits! Deposited £3.

Whatever happens, I can't change the fact I lost £35 because of slippage. I've broken my daily loss rule now, so I might as well trade again if I see an opportunity.
Click to expand...

Well to be blunt, breaking one rule doesn't justify breaking yet another. But it's your call...
 
firewalker99 said:
I don't think you should have taken the trade, if your risk was 30 and your target only 10. I for instance always close about first half when it's at twice the risk for that trade: so 20 points if my stop is at 10 pts. But if you risk much more, you're going to need a lot of winners. Like 80-90%. I'm not saying it can't be done, but most people don't have that kind of win ratio (neither do I).
Click to expand...

Risk was 30, initial target was 20. That alone should have stopped me trading.
 
Atilla said:
Paper trade. No point in throwing good money after bad.

How are your consistency / expectancy stats going? How many trades right how many wrong. Average win / loss ratio etc etc.

Stay out for the day now that you've lost the 30. Means you'll value tomorrows trade more.

Paper trade imo. :)
Click to expand...

firewalker99 said:
Well to be blunt, breaking one rule doesn't justify breaking yet another. But it's your call...
Click to expand...

You're both right. What the hell is wrong with me!

Consistency / expectancy is still pretty negative I'm afraid. Hard to say, because I take trades which break my rules and don't pull the trigger where the system gives me a clear entry.
 
lurkerlurker said:
You're both right. What the hell is wrong with me!

Consistency / expectancy is still pretty negative I'm afraid. Hard to say, because I take trades which break my rules and don't pull the trigger where the system gives me a clear entry.
Click to expand...

We are watching you LL and worth seeing some stats. Why not analyse your pass trades and log them on Excel as discussed before.

Anyway, my trade is not going anywhere and on the 15 min charts I think I see a big spurt up coming along. Looking to reverse position if this thing doesn't drop below 370 fast.

It is possible the down trend that started at the start of June will be broken. Here is one I may not wait for my SL to get blown.
 
lurkerlurker said:
You're both right. What the hell is wrong with me!

Consistency / expectancy is still pretty negative I'm afraid. Hard to say, because I take trades which break my rules and don't pull the trigger where the system gives me a clear entry.
Click to expand...

We are watching you LL and worth seeing some stats. Why not analyse your pass trades and log them on Excel as discussed before.

Anyway, my trade is not going anywhere and on the 15 min charts I think I see a big spurt up coming along. Looking to reverse position if this thing doesn't drop below 370 fast.

It is possible the down trend that started at the start of June will be broken. Here is one I may not wait for my SL to get blown.
 
Atilla said:
We are watching you LL and worth seeing some stats. Why not analyse your pass trades and log them on Excel as discussed before.

Anyway, my trade is not going anywhere and on the 15 min charts I think I see a big spurt up coming along. Looking to reverse position if this thing doesn't drop below 370 fast.

It is possible the down trend that started at the start of June will be broken. Here is one I may not wait for my SL to get blown.
Click to expand...

Okay - I'll do this if you can answer some questions for me.

What other information do you want, and how far back do you want my logging to go?
 
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