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ES Scalping System - 1 Point at a Time


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ES Scalping System - 1 Point at a Time

  #71 (permalink)
 steve2222 
Auckland, New Zealand
 
Experience: Beginner
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Traderwolf View Post
So today I traded same method on NQ. Did not post a chart today because this thread started about ES...

Wolf

@Traderwolf

Or you could create your own thread so you could post both NQ and ES trades there.

But I for one we enjoy seeing your application to the NQ as well.


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  #72 (permalink)
 
Traderwolf's Avatar
 Traderwolf 
Raleigh,NC
 
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Thanks to @tradermark2009 for this post which he did some time ago. I have struggled with accepting losses are a part of trading and have subconsciously been trying for years to develop that perfect system that had no losses. At least I am aware at this point this is one of my tendencies and try to catch myself. I thought this post was important enough for me to post in my own journal.. Thanks again @tradermark2009 .


Wolf


tradermark2009 View Post
Here are my daily rules that I read each day prior to trading:

My philosophy of Trading:

1. Trading is a probability business.
2. You can win or you can lose when trading. Learn to accept losing…this is hard to learn at first. Our culture says we must win at all costs. Trading is 180 of what we have been taught in life.
3. Know the trading probability of your system.
4. Do not use real money, until you can duplicate your trading method and results in Sim mode, as you would trading real money. The pressure in RT separates from this fact.
5. Even under all your systems best risk reward setup you will still have losing trades.
6. Learn to love those losing trades just as much as you win….just keep the losers short and follow your rules.
7. Let your winners run, and keep your losers tight-Not the other way around.
It is your job to minimize your losses and maximize your winners-No One Else is responsible for you but YOU.
8. Do not take every trade you see…Know the best time for your trading method.
9. You must follow your specific rule set for each trade that will help you to be on the winning side of trades most of the time.
10. You are the Holy Grail….not a system, or someone else.
11. Become a Master of- Volume Analysis, S & R, Price action and the specific markets you trade.

Hope this helps...trade relaxed.... above all be happy. Mark


Started this thread
  #73 (permalink)
 
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 Traderwolf 
Raleigh,NC
 
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NQ Again today.. Not comfortable trading it yet.. Jumps around a lot and created some anxiety not felt with ES... Small stops harder to come by in higher volatility. Of course , after I was finished , volatility dropped off as expected..


Counting commissions, was a scratch day on a big up day.

Back to ES tomorrow...........


Wolf



Started this thread
  #74 (permalink)
 
Traderwolf's Avatar
 Traderwolf 
Raleigh,NC
 
Experience: None
Platform: Versatile and Stable
Broker: Reliable and Accurate
Trading: Money
Posts: 250 since Feb 2012
Thanks Given: 154
Thanks Received: 1,028

Back with ES.... Satisfied with patience in trading range... got itchy on one trade and closed early.. Done for the day.

6 Trades

4 W
2 BE

Wolf



Started this thread
  #75 (permalink)
 
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 Big Mike 
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