ES (Futures) - Days #3 & 4 Consecutive

Yesterday and today I did more practice trading with the ES. I've learned a lot and will not put what those trades are specifically, but give you other details of what I've learned and done.

TUESDAY
- 1.5 hrs. trading (last part of trading day)
- Netted 4 points (profit) (+$200)
- 70% trades profitable out of 13 total trades.
- Used 3 min. timeframe
- Good use of stops (for profit taking and costs)
- 1 contract used

LEARNINGS:
- When lines are broken, if in a trade, GET OUT! If lines are broken, get in immediately or wait for a retracement to enter trades.
- Need to verify targets with trading strategy.
- Do not rationalize or think. Trade what you see, not what you think!

WEDNESDAY
- 2 hrs trading (last part of trading day)
- Netted -7.75 points (cost) (-$387.50)
- 70% trade costing for 13 total trades
- Used 1 min. timeframe
- 1 contract used

LEARNINGS
- Turn the fricken phone off or to silent. Let things go to voicemail when trading.
- Start off with a slower timeframe to get the feel for the day of which timeframe you should be trading.
- Stop trading altogether after 3 costing trades PERIOD! Figure out why you have those costs.
- Consistently set stops (profits & costs)
- If the line gets broken, GET OUT if in trade.
- Make sure to draw lines correctly.
- FOCUS. Get rid of distractions or do not trade.
- Trade what is there and not what you think will happen.
2 Responses
  1. Debbie Davis Says:

    Hi Doris,
    I just wanted to thank you for your tips. I have been using 3 minute charts and doing much better trading futures. Previously I was alternating between the 5 and 10 minute charts. In addition, I have switched to the Russell (ER) minis and have been using a $2 trailing stop. If I see it reversing, I get out early. Today I was positive on 4 out of 4 trades (+$540 not including commissions.) Thanks again!


  2. Doris Says:

    Awesome Debbie. You're welcome. Keep up the wonderful work!!!


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