The following paragraphs are excerpts from Les Schwartz's own trading journal.
He is a 30-year day trading veteran and creator of the Decision Bar Trading Software. The journal below gives some insight on his trading style and how he
uses his trading software to obtain buy and sell signals. Normally, we would try to add insight into
the inner-workings of the tool being reviewed. But in this case, the pictures
and the data speak for themselves. Schwartz tells it like-it-is:
Les Schwartz Day Trading Journal
As I have tried to explain to would-be traders for years, trading is not about predicting market direction, or even about winning trades.
Trading is about continually positioning yourself on the right side of the market so you can take profit from market movement. Winning trades are the result of proper positioning.
I hope you take the time to read this log, especially if you are new to trading or struggling with profitability. I believe it will give you a better understanding of what real trading is all about, and show you how you can improve YOUR trading.
I promised a couple of people I would run charts this week, for three successive days, detailing my trades using DecisionBar Trading Software.
These are the charts I sent out after the market closed on Monday, Tuesday and Wednesday of this week, September 13, 14 and 15.
Day Trading S&P500 eMini
This week I have been trading the S&P 500 eMini. The chart below details my Monday morning trading "by the numbers." It is a two minute chart.
Just one trade, but it was a winner!! When we have a large gap up or down at the market open, we either fade (trade against) the gap, or wait for a reversal signal.
Let's see how the afternoon went. Again, by the numbers.
I think the chart speaks for itself. It was a profitable afternoon. (Note: We exited that final trade when the market dropped below the low of the indicated bar).
On Tuesday I decided to go to a three minute chart so the chart would not be so cluttered. Here is how the morning went.
A nice morning. One trade for a nice profit.
The afternoon wasn't very productive and resulted in two small losses. It happens. This is real trading. You can only trade what the market gives you.
Wednesday morning things weren't much better.
I decided to eat lunch by the computer Wednesday in the hope of the market livening up enough so I could get paid for my time. We held our short trade until 3:12 pm.
Following a break-even trade that lasted all morning and well into the afternoon, we lost a couple of ticks on a short trade and finally make a couple of points on a long trade to show a profit on the day.
It was a pretty boring day, but the fact is that trading is supposed to be boring. If trading is getting you all stressed out and bent out of shape, you're doing it wrong.
The difference between my DecisionBar Trading Software and most other products is that DecisionBar actually teaches you to trade like the Pro's.
No stress. No anxiety. Each DecisionBar signal is clearly shown, and the reason for the signal is clearly explained in the DecisionBar Trading Manual.
Please visit my website at:
http://www.decisionbar.com
and take the DecisionBar Challenge to see if DecisionBar can help you take the drama out of your trading.
http://www.decisionbar.com