| RESULTS FOR DAY | |
|---|---|
| Contracts: | 4 |
| Net $P/L: | -136 |
| Wins: | 2 |
| Losses: | 2 |
| Win%: | 50 |
| Avg$Win: | 110 |
| Avg$Loss: | -178 |
A daily chronicle of results of one retail futures trader trading my own accounts. I define myself as a day trader and generally swing for at least a few points most of the time. But I do make the occasional scalp for ticks too.
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?
Hi,
ReplyDeleteyou 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
Thanks B52 for comment, ideas, and video link - that's some nice scalping!
ReplyDelete