QuietTrader-
Nice thread. I like your thought process. Good luck going forward.
PaperTrader
Nice thread. I like your thought process. Good luck going forward.
PaperTrader
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Calling 'Em Like I See 'Em
- Thread starter QuietTrader
- Start date
If there's interest, maybe I'll offer some explanation of some of the trades. They're pretty simple, really. I try to keep things 'Quiet' and not overcomplicate.
I would enjoy hearing more about your entry and exit signals. Maybe you could also post one of the Ensign charts for the ER2.
You could put some numbers on the chart and make a corresponding comment in your post. This would be helpful to see a picture of your trades and it will also give us a look at your timeframes and indicators that you use on your charts.
thanks
t
I apologize for the absence. I took a planned vacation, but thought I would have time to make a few more posts before taking leave, in which I would have told you. It didn't work out that way.
At any rate, I'm back!
Try to post some real time calls today, and perhaps some other thoughts as well. I will also try and address some readers' questions, including those who have pm'd me.
QT
At any rate, I'm back!
Try to post some real time calls today, and perhaps some other thoughts as well. I will also try and address some readers' questions, including those who have pm'd me.
QT
Short 5 er2 @ 781.60.
Buy 5 er2 @ 780.50
Profit on last trade: $550.
The trade was decidedly counter-trend (short term). I gave it very little room, and almost bailed when the Russell peaked its head above 782. However, the Russell had been the weaker of the pair for the previous 1/2 hour, and had failed to react significantly to what seemed (seems?) to be the beginnings of a major move in ES (we will have to wait and see). Risk vs. Reward (rvr) potential was there, so I took the trade, but kept the size, and stop, small.
The trade was decidedly counter-trend (short term). I gave it very little room, and almost bailed when the Russell peaked its head above 782. However, the Russell had been the weaker of the pair for the previous 1/2 hour, and had failed to react significantly to what seemed (seems?) to be the beginnings of a major move in ES (we will have to wait and see). Risk vs. Reward (rvr) potential was there, so I took the trade, but kept the size, and stop, small.
Long 6 er2 @ 779.70.
Despite what I wrote about er2 displaying weakness, ES seems poised for a potential breakout. If so, ER2 will not be able to hold it back, and will ultimately join the party (perhaps in a big way).
If however a breakout fails to occur in ES, watch out, because Russell's weakness might see it plummet. Let's wait and see.
If however a breakout fails to occur in ES, watch out, because Russell's weakness might see it plummet. Let's wait and see.
Sell 6 er2 @ 782.30
Profit on last trade: $1560. Profit for day: $2110
I exited this trade here simply because, IMHO, the Russell was not reacting with enough force to what amounted to a very nice push up in the ES. As I wrote before, I was wary of the Russells apparent weakness thus far, and took my profits earlier than I might have and without any 'signal' as such that the rally had exhausted itself.
In truth, I was considering exiting even earlier, with a very small profit (somewhere around 780.40), and likely would have, were it not for my wife having come into my office to ask me a question, thereby distracting me and giving the trade a little breathing room. I am thankful for her distraction.
As I type this post, I am monitoring price action on my laptop, which, as I think I wrote above, is always within my line of vision. (Thankfully, I learned to touch-type in JH, a skill that has saved me countless hours over the years).
I exited this trade here simply because, IMHO, the Russell was not reacting with enough force to what amounted to a very nice push up in the ES. As I wrote before, I was wary of the Russells apparent weakness thus far, and took my profits earlier than I might have and without any 'signal' as such that the rally had exhausted itself.
In truth, I was considering exiting even earlier, with a very small profit (somewhere around 780.40), and likely would have, were it not for my wife having come into my office to ask me a question, thereby distracting me and giving the trade a little breathing room. I am thankful for her distraction.
As I type this post, I am monitoring price action on my laptop, which, as I think I wrote above, is always within my line of vision. (Thankfully, I learned to touch-type in JH, a skill that has saved me countless hours over the years).