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Well it was a bad day. The thing that annoys me is that I did not follow my own plan. I traded my opinion than what my plan told me to do. For the people that have been following my journal, you'll notice that one of my problems was adding a short position into weakness. I had promised...

Stopped moved to 1210.75. The indexes are taking a beating. Love it so far.......

I do not think we'll see a bottom till the second week of September. We might see some type of rally here if oil moves down but there will be another sell-off before the markert rallies. For now I'll short any pullback.

Covered one position at 1214 last night. That is a profit of 11pts. Not bad. Still short one more contract from 1225.25.

What a beautiful day to be short here. I added another short position at 1225. When the market rallied (from 1216 to 1225) I thought that I might be stopped out today but I wanted to follow my plan and sell into the rally/resistance. I'm glad I followed my plan. After about 30-60 mins. the...

I am trading price action and would consider myself to be a momentum trader. I do not how to define trend. If we look at a long term chart the action right now can be considered a pullback or other people can see this as the start of a new downtrend. I wish I can tell for sure whether this is a...

I hold overnight. Please see the attached link if you need more info. http://www.elitetrader.com/vb/showthread.php?threadid=53470

Tuesday's Recap: The market was down for the day although it managed to rally a bit during lunch hour. 1225 seems like a resistance for now. I'm moving my stop to 1233.75 from 1238.75. Still short here.

Monday's Rcap: Still short here with a stop at 1238.75. I am considering moving my stop to 1233. I guess I will wait one more day and see tomorrow's market action. I still feel good about my short position considering today's action.

Macro Overview: I do not see any type of significant pullback (ie. 3+ up-days in a row) till early next month. Going forward we might see 2 up-days and 3-5 down days. The bond market is anticipating higher inflation and an increase in interest rates. In the past month or so I have noticed...

Thursday and Friday's Recap: Nothing really happened. S&P was up and down but closed pretty much where it opened. Monday's plan: If Monday is an up day, I will look to short at the close with the initial stop at 1239. If it is a down day, I will just stay with my current position. I...

Wednesday's Recap It looked like the bulls are running out of gas here. S&P tried to move up but ended up closing where it opened. I see another inverted V bottom pattern. This gives us another opportunity to short the market here. I'm just holding tight and sitting on my short position...

Monday & Tuesday's Recap: On Friday I was mad at myself for covering my positions at 1235 when the market went down to 1230 in few minutes after that. On Monday, the S&P was up about 6 pts from Friday's close. After that I did not feel too bad about closing those positions. Today was a...

Sorry, could not reply sooner. To answer your first question I haven't had to sit out any months this year. This does not mean that I made money every month but my losses were never more than 15% a month. While I'm sitting out a month of trading, I do watch the market, test indicators and...

Firday's Recap As you know I closed my short positions on Thursday. I was still bearish but the mini rallys kinda got to me. The reason I closed my positions was to reevaluate with an open mind. I went through my analysis and still figured that I wanted to be short. I shorted 1 contacat at...

The reason for still being short. In the last few days I have wandered if being short here is the right thing to do. I think so. Here is my reason: I was reading Michael Steindart's interview in the Market Wizards. He said that in 1987 he was bearish but he ended up being long because the...

Thursday's Recap: This is a sick market especially if you're short. I was short two positions and there was a midnight rally that extended for few more hours after the market was open. Finally, it was down but the last hours it gained back all of the day's losses. I closed my positions during...

I would like to call myself a price action trader. It is hard to tell how far the market will move up or down. If I put on a position, I'll stay with it as long as my it is going my way. If it reverses the same day I'll get out, if not I'll add to it. Hope this answers your questions...

During the day I have my stop to protect me. I look at the daily price action but execute at the close of or after the market is closed. That is one of the reasons why I trade ES than NQ or ER2. ES is very liquid compared to the other two even when the regular market is not open. I guess my...

Wow this is amazing. The high after hours is 1237. This is simply amazing since yesterday was a big down day. I'll seroiusly look into buying in at the last half hour and selling sometimes at night. Worth a shot.