Keep Calm and Don't Move Your Stops.....

A little risk management saves a lot of fan cleaning!

The Purpose of Life is Joy!!

Friday, August 26, 2016

Went Live Today

I wasn't planning on trading this week due to finishing up a project for school that was occupying a lot of my time. However, I finished it yesterday so decided to begin my "new" trading career today.

Essentially I am embarking on a dual track, scalping ES for daily income and building wealth through CL trading trying to catch the larger moves on CL. For the moment, the CL trades will be few and far between as I concentrate on replacing the income from the "real job" I recently left behind. This looks like 2-4 points a day on ES using a tired but true scalping system. Don't ask about it, I'm somewhat embarrassed to show you anything about this system because it relies on indicators but it works so I'm going with it for now. There are no attempts to capture the "big moves" in ES just a piece of one of the legs each day. With any luck and some patience, I will be able to capture perhaps two legs a day depending on my schedule. I still have a full school schedule but I've rearranged my daily schedule to allow for some extended trading hours in the morning. We will see how that works next week.

As to my results, I made my first 3 points today in ES. Happy about that and moving into the weekend a winner, always a good thing for sure.

3 comments:

  1. Well, ..any indicator is good indicator as long as it made money ..;)

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  2. the problem with that TST is that it breeds bad behaviour, if one can't separate making money from the correct technical process. one day, over time, probability or a black swan will bankrupt that an incorrect process

    Ask Amaranth or LTCM....

    ReplyDelete
  3. Correct technical process...
    in market, like in politics, or power..
    nothing is correct all time...
    market keep changing, emotion keep changing...
    be open minded and flexible, learn chances and probability..
    If stick to only 1 set up and not flexible..
    At least we have to respect risks and use common sense.
    Amranth and LTCM --- these guys didnt respect risks.. so they lose..

    ReplyDelete