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Exit ES at 1027, +2 (couldn't resist the quick profit)

Shorted ES at 1029. Stop loss set at 1033, profit target +6

Stopped out at 1021, -4.5. Ouch!

Short ESZ3 1016.5

I think it's because trading doesn't actually provide any goods or service. That's the same reason most people don't respect gamblers, successful or not. However, this does not prevent my loving trading.

Thanks for the response, Kap. Just to clarify: do you mean 1(risk):1.3(reward) or 1(reward):1.3(risk)? Sorry I have trouble to remember which way is the convention. Also, trading gap or not, is it generally a better strategy to have risk >= reward? Thanks, xje

The same for me. I often have trouble to open TWS in Saturdays - I guess they might be using weekends to do maintenance.

Interesting article indeed. Thanks Mark. Two questions are in order: 1. For those of you who prefer trading YM over ES, is it really because YM is less volitile than ES intraday and YM always follows ES in trend (as the article suggested)? If not, what's your main reason? 2. Does a risk...

Damir, when you entered this long position at around 10am, the market was at the bottom and all indicators looked very bearish, could you tell us what made you want to go long? Pure instinct or some tip here? Thanks, xje

"Reevaluate the trade" is very good advice. I'll try that. Thanks, TMTrader. I'm learning from you guys.

Thanks Damir. What you said is very helpful. It's also somehow comforting to know a good trader like you often starts of in the red. Do you use (and honor) stop loss at all?

Hi random trader, you mentioned at the begining of this thread you are using your IB IRA account to trade ES. Does IB allow short sell futures in an IRA acount? Thanks, xje

Congrats, guys. When a losing position turns to positive, don't you have the tendency to cover it right way? What can help resisting that urge? Thanks for any help. xje

Covered at 1017.75

Wait for either my stop loss 1022 to get hit, or to close the trade at 3:45.

just shorted ES(Z) at 1018

Doesn't seem to be a good time for a long position - TRIN and VIX are both very very bearish

Oh well. No trade. ES did not reach this resistance area before going down again. TMTrader's calculation is better than mine. xje

I'll go short when ES is in the 1020.5-1021.5 area.

What's your stop loss when you entered this trade? Thanks, xje