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I am out of this at 68 for +5 Done for the day. New net is: 7x7 ES traded. 9.5 ES points. PnL: $437.40 Made back a chunk of yesterdays losses. Still i am not very happy with the trading today. Held on to short bias throughout the day and should have taken some gains earlier on...

:D :D I'm back to see my 2 point stop was missed on 3 separate occasions - you can't get much luckier than that. I guess karma has come around to help me this time :D This is more of a balanced day so i am trailing this to bank some gains on this. Not a bad day now.

I have to leave for rest of day. I might if i am lucky make it back in an hour if not here are the stats for the day. 6x6 ES traded Net: 4.5ES points $192.20 Leaving a short here at 73 and leaving. Good trading to all.

Damn bulls made me give up 5 points there. Crazy not to take gains at the bounce of the 55 key level. Ah well onto the next one. Stopped out at even. Good call Specx.

Just don't seem to get any short momo here. Can't take out Tuesdays low or this 65 region. I was expecting 64 to be strong support but damn.

:D :D I meant to say that i had an a reason to take a short and then would not take it because of conflicting information with the indicator (which was often wrong). I'm staying clear of indicators and holy grails for now. Probably revert back to them when i realise my own judgement sucks :D

Also, i think down trend line is still very much intact and bulls could get smashed here. Just probabilities though (sometimes your right and sometimes your wrong) - managing risk to reward and money management is all i can do here.

I used RSI, Macd, Stoch when i first started trading, i found them to be useful sometimes and then i realised they were affecting my decisions. Also, i noticed RSI gives a divergence nearly every time either price breaks the previous lows/highs. I figured it basically just indicates that...

Started to trail this now. I hope someone took this beauty with me. 1 point stop Target is 60. 1:10 risk to reward.

I hope readers can see how zones are very important in trading. if they can't take out that level simply ride this channel now - bulls may turn it around or we ride this one down till the EOD. The great thing about breaks from balance on daily charts is that all the players who were long...

That's some good stuff ST. I love the way you adopt channels, i must admit i did not pay much attention to that downward channel. Maybe i am not concentrating enough and spending too much time typing :D The only problem i find with channel bounces is that as it is downward sloping it mean...

I would be interested to know how you figure out if a move is a simple demand for liquidity or a real move. Also, when you say buy program how do you get your analysis on this. I have an auto system which i play of the Prem and tries to take a ride on buy or sell programs for very short...

That's some good analysis their SmallTrader. Would love to see your chart later today to get a visual on that. Your right that 66 merited a bounce and was not a good short. Also, good defence is probably the best way to play in this game. My short had too wide a stop which was not safe at...

Ya would have been a nice long eh if i was not so fixated on shorts. :D If this is going to break down today then they are really making me work for shorts today.

Your right and im taking a gutsy shot at another short at 70.25. great R:R Bulls may be recovering here but they have to break this level to go higher. I can enforece a very tight stop on this one that i why i took it. Has some nice confluence on that level for Fib followers.

Out at even looking to re-enter if that 70 holds.

Come on you bears break this down to 57. Tightening stop on the short. Bulls are very weak for now but still holding onto this minor uptrend on shorter time frame charts.

70 was my pivot level or strong resistance level for intra-day. I am still short biased and taking another shot at here. If they break 70 then i think we will probably consolidate for rest of day. Short again at 68.

The short was a bad one - was trying to jump on more weakness and the actual short was based on price action. Problem with that was not only did we have the IHS on 1min time frame but also i think my charts i posted have 64 as my first strong support zone. I really should have stepped...

Ate a 3 point stop there - tried to keep it out what i considered minor noise. Should have exited earlier on that one - bit stubborn. -3