Robert Joyce

Ok, still with the sim, I traded 2 to 4 contracts on the YM today, 22 trades, I didn't figure out the mix but profit of $900. or about 50 real pts. The same 50pts, almost twice the profits and I didn't have to get better or be smarter or have more or better signals. I love this. the day is coming......

Ok, still with the sim, I got distracted today, was up $610. then got smoked hitting 3 stops in a row and I ended up only $145. This is a problem for me late in the day when I am up substantially, I start taking riskier trades and then just do stupid things.... Good thing this is phoney baloney money. There were 20- 2 contract YM trades, 4 losers, 10 at or near even and 8 winners. Some of those even were actually stopped out at $50. which is where I move my stop to once my first target is hit, especially if the signal is not real strong. Oh yeah and I was duped by some of my longer term EMA's... arrrgh Anyways $145 is 15 real pts. Not very good... especially when I failed to protect my profit late in the day... aargh... I was up 61pts.... my target is 50.... damn it... one of my rules for trading real money will be to put a stop at my daily target once it has been exceeded and then just walk away if it gets hit. There will always be tomorrow and this is what will take real discipline. This is a 'money management' discipline rule. It's the most important rule. Oh yeah and always, always, always check my stochastics before I enter or exit a trade..... But no seriously the most important rules in 'rule based' trading are the money management rules. That is where the real discipline is required.

Ok, still with the sim.... 15- 2 contract YM trades. 2 losers, 5 at or near even and 8 winners, for a phoney baloney profit of $505. or 51 real pts. A couple of them I removed my limit orders and let both contracts run for a bit.

Ok, sim again today, 6-2 contract YM trades, 1 loser, 1 stopped at even and 4 winners for a phoney baloney profit of $430. I had to go out so I only traded in the morning session. Bathrobe... nice numbers again today.... I was only trying to be helpful with my comments on the weekend, hope you understand....

Bathrobe..... Ok, there is probably something else that should be said regarding those 10 to 50 contract orders....... Are You Crazy...... Judging from your comments on this thread so far there is no way you should be buying that many contracts, you told us you were playing with 'scared money'. My advice is for you to go back to 2 contracts and if you must leverage in you could work your way up to 10. Believe me I am thrilled you did it and made money... but I would be very sad if you get stopped out for a huge loss. So just chill for awhile. You proved you have the kohonas to go large, now prove you have the kohonas to exercise some discipline..... Good luck whatever you do...

Bathrobe, when you say 'all my trades don't get filled'. Did you mean that price never hit your limit entry or that you only get partial fills on a 50 for example. I assumed that might happen on the YM with such a high number, but I thought the ES could handle that size no problem, and does it only affect entries, how about exits. I also imagine you might get filled at several different prices depending on the size of your order. What was you experience.

50 contracts..... holy shit..... This is my vision..... this is my dream..... get consistent making small points everyday and then slowly ramp up the number of contracts. You don't need a lot of points to make a lot of money with 50 contracts. Out freaking standing..... But I said slowly.... slowly.... Did you find a huge increase in the emotional component when you pushed the button on 50 as compared to 2 or 3... I imagine you did.... Takes a sizable account though... Would be a nasty stop out.... But Kudos...... I'm supprised you can walk with kohonas that large..... lol lol Thanks for sharing.... Out freaking standing....

Ok, still with the sim. 15- 2 contract ym trades. 7 winners, 2 losers, 5 at or near even for a phoney baloney profit if $695. Outstanding Bathrobe, How many contracts were you trading at a time on your ES trades.

Ok, sim trading again today, 21 trades all 2 ym contracts. 4 losers, 6 at or near even and 8 winners for a phoney baloney profit of $535. I was up another $200 but I got stopped out during that big sell off at the close. Anyways see you tomorrow.

Ok, just sim again, 20 trades 2 YM, 3 losers, 7 at or near even and 10 winners for a phoney baloney profit of $725. This would look a lot better if there weren't so many even trades. But still that is 60 real points, well not 'real' points... lol lol.

Bathrobe, very nice, what did you trade and how many contracts? Entry price, what signal did you use. I'm thinking maybe it was a short.... lol

Ok, I had to go to work today so I only managed some sim trades again. 15-2 contract YM trades for a profit of $335. no or very small losers but there were 10 in all that were either small lose or even, I kept jumping in and out of trades. 5 were good winners. Tomorrow is another day. Good luck Gentlemen.

Thales, that is no small trade on the ES for 6.25pts, good for you. You make it look so easy, I could camp out all day and not get a signal or even stay in one for that long.

Nice recovery Brownsfan!

Ok, sorry I was called away today and did not trade real, only sim...... High number of trades at 21, but there were 4 or 5 at even. I was up but let myself get smoked by that run late in the day for 3 losers in a row but I fought back and ended up $505. all 2 contract YM trades. No real excuse for the 3 losers, it was late in the day and I was way up so I got cocky and didn't expect that rally to just keep going.... I kept trying to get short for a pull back but it just kept going. I like to tell myself I would never enter trades like that for real..... Anyways back again tomorrow.

Ok, As I would never start real trading on a Friday, sim trades again today but for 180pts on the YM. All 2 contract YM trades but there were about 30 trades for $905. profit. 10 even trades, 4 stopped out for full 21pt, the rest were real nice winners. I tried very hard this week to cut my losers and ride my winners and when I had a good buy at an extreme like that low this morning I removed my limits and just let it run. Also these more range bound days are great for my EMA crossover signals. So I'm pumped for Monday to start with real money again. The other thing I did was the later in the day it got the sooner after I was winning a trade I moved my stop up to even to protect the money I had, so there were unfortunately too many trades at or very near even, but that is a small price to pay for protecting profits. Next week I report real trades all week long. Anyways you have a good weekend, I've got my son's soccer games to look forward to, we'll see you on Monday.

Ok, sorry only sim trades today. 16 trades of 2 YM contracts. I was never stopped out but I exited several before they hit my stop. Anyways I was up $345. pretend dollars... yech... See you tomorrow.

ok, no real trades today, the building I live in had electrical problems and advised they would be turning the power on and off several times today so I didn't want to get caught in a trade and no computer... yikes. So as you already know any excuse will do, so I traded my sim again today. 20 trades.... actually had more losers than winners but ended up $250. I caught one real good trade right around 8600 on the YM and rode it for 52 pts. So that was nice, hopefully tomorrow will bring some 'real' profits.

Thanks Diablo, I have read alot of it now and it actually makes sense to me. His method is strangely similiar to mine. Only I use EMA's on different time frames combined with stochastics to see 'trends within trends'. And I just love 'regression channels', after reading Hershey's stuff I will be using them alot more. Thanks again.

I have tried to find this Jack Hershey and all I could find were reams of stuff on how no one can figure out just what his method is and that there are no results. I still have not found anything that is written by him. Or is this all just a big joke so that whenever someones strategy is hard to discern they call is the 'Jack Hershey method'. Not that I am looking for a new method to trade, I'm just curious, It's my balls that I am having trouble locating.

Ok, so what is Mr. Black's method..... If I may be so bold as to ask....

Ok, only sim trading again today. $525. 15 trades; 7 winners, 5 losers and 3 stopped at even. The only good thing is I bailed on my losers before they hit my full 21 pt stop. Oh and I let my winners run till they hit my limit exits which was also good. I feel like such a chump for not trading real money. I guess you would have to say if Bathrobe is playing with 'scared money' then mine is 'terrified'. Maybe tomorrow. Great trading for all of you.

Hal9000, looks like you were similar to me looking for shorts all day. I would like to know how to get myself on the right side of things, or to put it another way how to lose ignore bias for the day. I call it 'bouncing ball' trading where one assumes what goes up must come down.... But not necessarily, like today. I strongly suspected that it would not pull back today, but I could not find the right mind set to get long..... except for a couple of trades. I am still trying to get over the real trading anxiety. Anyways Hal nice trading just the same... I am wondering though if you had stayed in many of those trades today would you have been stopped out?

Brownsfan, can you tell me something about how you decide to bail on certain trades. Today it looks as though you made a number of trades that you decided weren't going to reach your target exits, but great trade on the ZB, I assume that is a currency trade.

Outstanding Brownsfan and especially Mr Black. I had a tough time with the YM today. I couldn't trade when the markets opened and after all that sideways action I couldn't get a good read on my EMA's so I traded my sim again today. 11 trades of 2 ym contracts, 6 winners, 3 stopped/out at even, and 2 losers for my full 21 pt stop. So 4 of my winners were used up just to make up for the 2 losers. Hate it when that happens.... I ended up $205. Mr. Black was 6 for 6 today I think.... I would appreciate some comments about how you relate volume to your 'price action' for an entry. I could see that you got most of your longs from consolidation points and pull backs to your 20EMA , but how does volume figure into it? Oh yeah and how did you decide to get long on that first trade @934.25?