ES Journal - 2012

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Quote from gmst:

Signal all clear. Adding 1409.75

EDIT: Don't feel confident...price is stalling, so instead of waiting to get a bigger profit, I will book whatever I can and wait. So out of all position at 1409.5

Approximately +3 points on this trade. Trading was tough since it was never very clear to me what is going on.
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Price stalled at the current (then) high. Usually there's a reaction at such levels.

Any experience with trailing stops?

Nice trade though! I always find it scary to buy at the lows. I`m much better at picking tops. ; )
 
Quote from Laissez Faire:

Price stalled at the current (then) high. Usually there's a reaction at such levels.

Any experience with trailing stops?

Nice trade though! I always find it scary to buy at the lows. I`m much better at picking tops. ; )
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Thanks but I didn't manage it well.

Anyways, I am back in the trade....Long 1411.25. It seems price is going to run a bit more.

Yes, I think you are correct - a trailing stop in the original trade would have been much better.
 
it pays to keep an eye on NQ alongwith ES. Sometimes their is disconnect between them, however at other times, ES reverses when NQ meets a big resistance.

For example, NQ current high is 2657.75 and yesterday a major intraday high for NQ was 2658.75. So, NQ might take a breather here before continuing its upmove or NQ might temporarily change direction here. Correspondingly, we can see that ES has also stalled.
 
Quote from gmst:

Thanks but I didn't manage it well.

Anyways, I am back in the trade....Long 1411.25. It seems price is going to run a bit more.

Yes, I think you are correct - a trailing stop in the original trade would have been much better.
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10-11 should hold as support from here, IMO.

I have mixed experience with trailing stops in ES, unless one can put it behind a S/R level that would clearly invalidate the trade's continuation. There's always a pay-off though.
 
Quote from mastacoli71:

Rickshaw, u crack me up. I know a guy just like you that only knows how to trade long. You see what you want to see and when it does not work you stay stubborn. All the while you miss opportunity after opportunity. Whatever makes you tick.
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I see an uptrend, I trade in the direction of the trend to reduce my risk. I do not counter trend trade. When the trend reverses I will short rallies. I just don't see that yet. However you trade how you like. My method has kept me in the game for a while. What more can I ask.
 
Quote from achilles28:

Anyone scalp the ES here?

What prices do you use on a tick chart? Ask? Bid? Or last?
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I scalp as a charitable contribution.

InteractiveBrokers is the beneficiary of these unselfish acts.

:p
 
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