Friday, August 17, 2007

Aug 17 $1,000 on 84 contracts




If you know what the max pain theory is,,,,it just happened this morning, the biggest max pain move I've ever seen. Although I think this mornings pop was totally setup, I won't complain because it has provided some great volatility to trade. I really had no setups today that I took, the only thing I did that made me money today was cut my losses fast and tried adding size to my winners while trailing my profit, and this strategy worked because of strong momentum moves that would allow me to trail my profits without getting chopped to pieces. I wish I would have shorted ER2 around that 15min mark and rode it down for a nice 20pts. Cramer made a call into CNBC right at the high saying that the market was going to 14,500 and that everything was just peachy,,,,,NICE CALL,,,,for a SHORT SIGNAL!!! Although there has been big moves lately I still haven't caught a big one, which makes me think I need to do move drilling to perfect my executions and analysis of my charts. Not bad for an hours work. Almost 100 contracts traded in the first hour by me,,,that's gotta be a record. I traded ES instead of ER2 because I wanted to make sure I got good fills when using my stops. Gotta leave for work

P/L= $1,000 on 84 contracts

2 comments:

leon t on 8:36 AM said...

john : it's nice to see you make consistent $$$ everyday. at this rate you'll end the year +200.000 give or take. to give you a perspective, in my past a couple of my biggest assignations netted that amount and some more after a couple of years.i'm still not sure of what you are doing. but it is working.

High Probability Trader on 9:51 AM said...

My last couple days were more luck than skill. I consider myself to be under performing compared to the opportunities provided right now. I'm sticking to using my stops on every trade, and that has allowed me to limit my losses and be lucky enough to make money recently. I have a long way to go before I make 200k. If I can make 15k/month then I will be happy. I just need to avoid those blowups like I had in the past. If I can do that, I may be able to start building momentum again and start putting up bigger numbers. The rules are, never add to a loser, and always have a stop. There are some guys out there making a ton of money, and to be honest, I'm jealous, but, I need to stick to my system, use my stops, and wait for my time to come. With time, and experience, I believe I will get there some day.

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