Hi there ET member, So I am very proud to announce that this is my first journal ever, despite having been "trading" for the past two years. I will mention that this is a live sim journal, not a "real money" journal. My model is based on stochastic divergence. I have traded the ES for about a year and the other year was backtesting. Due to professional and personal commitments I will not be able to post everyday. For obvious reasons, and that I have an offline journal, I will not be posting trades in real time (but as soon as the trade is done). I appreciate honest posts , ie constructive criticism. Please keep posts professional (and conduct yourself like one) , any childish arguing, and I will ask Baron and the mods to remove you from my thread. Thank You so much for participating in my Journal. @Handle123 @Redneck @NoDoji @Buy1Sell2 @aquarian1 @
Hi Iwilldoit, Sounds like a great thread and journal. I have only two questions. 1. Are you day trading because you mentioned that you have commitments, which I assume you have a daily job. 2. Have you been profitable trading the system? If yes, what is the performance like? Good luck.
Hi Iwilldoit, I'm curious, why did you select the S&P 500 Emini ES futures as your trading instrument versus other popular futures trading instruments ???
B/c ive traded the ES before, for a year , and that is the instrument im most comfortable with. Also , my commissions for stocks are a lot higher than for futures.
Columbus Day- little volume, no stochastic divergence setup , therefore no trades... NOTES - find and download a stochastic divergence indicator which will alert me and therefore make it easier to find divergences . - spend more time trading this on Market Replay. @Handle123 @Redneck
1. I am day trading b/c I want to be a successful trader, and earn a living from the profession 2. I have backtested the system, and the metrics has passed my specific requirements.
Trade One: Short/Profit Went short at 2003.25 (placed limit order at 2.25) at the 1min candle of 13h32, it somehow filled me at 3.25? (yes its a SIM Demo). Initial Stop at 4.5, after I noticed the long red candle's high at 13h36 was below the signal candle at 13h32 > I dropped the stop to the high of the 13h32 candle to 3.75 . As you can see the little blue candle at 13h38 shows that I was filled at my target at 2000.25, but I want the readers of this journal to realize I will only consider a fill if prices drops below one tick of my target. From my experience of trading the ES, I know that you cannot be filled if price briefly touches 2000.25 (your target). Therefore I "held" the trade until price penetrated through my calculated target of 2000.25 at the 14h01 candle. It was a little scary that price went adverse and hit 3.5 (nearly hitting my stop of 3.75) .......but pyschologically I'm like "if I get stopped out no big deal" So first trade was profitable, let me not let that get to my head (as in the past) @Handle123 @Redneck @NoDoji @Buy1Sell2 @aquarian1
TRADE 1: LONG/ LOSS BLD/60/13H30 (Bullish Divergence on the 60 at 13h30) Set buy limit at 3.75 (based on the close of the 13h35 candle) , Stop at 2.25 , Target at 5.75 Price dropped after the 9ema crossed over the 18sma, and hit my stop at 2.25 Don't feel too bad (perhaps b/c I am trading in SIM lol), this is my first loss. @Handle123 @Redneck @NoDoji @Buy1Sell2 @aquarian1 @Gueco @pak @slugar