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Monday, March 10, 2008 0944 Short ES 1291.50 at pullback 510T resistance Stop at 1292.75, lowered stop as price moved down. Covered 0951 @ 1289.50 (+2 pts) seeing a double bottom and strength divergence comparing 0942/0951. Low was 1287.75, so probably should've tightened stop...

1) I look at the price action - how forcefully did it approach the trendline/MA support? Long bars are more likely to punch through support. 2) I set stop loss a couple of ticks or so below support. If it hits stop loss, the trade premise no longer exists as support is broken. Stop loss is...

Based on my paper-trading, while getting stopped out prematurely does happen, it doesn't happen enough to justify opening the stop up. If anything, I've considered tightening it. I generally use an 18MA as the support/resistance guide. So as the price goes up/down, the MA moves with it...

This is actually the time in my life I’ve attempted day trading (hence the title of this journal). The first time, frankly, I lost my ass. No plan, and undisciplined with lots of "revenge trading" and wishful thinking. Not this time. My plan: to trade the ES with small stops of 3 to 5...

How liquid are the ES during the overnight (say 1am -6am)?

I've been looking at the overnight charts for the ES and noticed some nice, smooth trend patterns typically between 4:00 am and 6:30am EST, with very little whipsawing and "head fakes". Does anyone regularly trade the ES during this time? Is it liquid enough and a decent time to trade?