Thursday, June 25, 2009

Is it Friday yet?

3:00pm CDT - 4 trades today and a net loss. I'm starting to wonder if I'm just spinning my wheels with no real edge. Partly I'm to blame as I'm taking some of my winners off earlier than my system calls for. I'm still up on month but barely with 3 days to go. After June is over I will revisit my system to see if it is worth further trading or if I should trade it in for a new model - perhaps a yet-to-be-developed hybrid?

RESULTS FOR DAY
Contracts:4
Net $P/L:-136
Wins:2
Losses:2
Win%:50
Avg$Win:110
Avg$Loss:-178
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2 comments:

  1. AnonymousJune 25, 2009 at 4:15 PM

    Hi,
    you are right yout system could be a dead end.
    -It is difficult to make money with scalping freuquency like that. Increase of number of contracts will increase risk of each trade.
    -Your target for 5 min chart is to low.
    You don`t have to create any new sustem everything
    Read Joe Ross for free on trading naked web site.
    Go to a lower time frame chart 2-3 min. It will decrease you risk. Consider to trade 144 or 233 tick charts with correlation to 2-3 min charts for ES.
    Consider to change vehicle. CL is easy to trade, for example.
    I uploaded video clip with trend following tecnique . May be it will help you.
    http://www.youtube.com/watch?v=CamBdKrjOWk

    TraderB52

    ReplyDelete
  2. MBAGearheadJune 26, 2009 at 2:54 PM

    Thanks B52 for comment, ideas, and video link - that's some nice scalping!

    ReplyDelete

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