ES Journal - 2012

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Quote from JoshDance:

So for example, yesterday (1/24) when 1305 broke down, that constituted a down trend for you, since a lower low was made, and you were looking to sell? If not, at what point were you looking to buy?
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good question, I'd like to know the answer as well :)
 
Quote from JoshDance:

So for example, yesterday (1/24) when 1305 broke down, that constituted a down trend for you, since a lower low was made, and you were looking to sell? If not, at what point were you looking to buy?
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Hi Josh.

When you say 1305 broke down, do you mean in AH, or do you mean right at the open? I think I know where you mean.... Right after the open we got a couple of TICK readings below -600, and price started to push lower. If I remember correctly, you and I both sold at or near the same place. Mine was scratched for either a b/e, +1, or -1, and you concurred. At that point I was flat, because my strategy tells me that the market should have pushed lower from that spot. Since we didn't, I have to sit and wait for a whole new setup. My setup has a very specific condition, and if it fails it does not necessarily mean that I should get in the opposite direction, so I just hung out for a bit.

After that scratch short, I was neutral until 7:34 PST, when we finally got a TICK close above 600. At this point, my only option (per my rules) was to look for a place to buy.

So in short:

Short biased and looking to sell until the setup failed.
Neutral for approximately 30 minutes.
Long biased for the rest of the day until 12:40 PST.

I hope that helps!

EDIT: Actually today was actually similar. I was short biased at the open, and actually sold 06 evens. That trade came within one tick of my target, and then came all the way up and took me out. Then I again I got the heads up to look long, and then I bought some pullbacks.
 
Thanks B -- I am actually looking forward to tomorrow. I will be a rational human being and not sabotage my trading as I have all week. I may have losing trades tomorrow but it will not be because I violated my common sense and went against the market.
 
Quote from tycoonman:

Lawrence Chan, Volente, Atticus, Ammo, JD, or any of the top and profitable traders here:

if you don't mind can you guys give a bit of an overview on the systems you trade? No nothing specific, technically speaking. Moreso, do you guys use trailing stops, brackets etc. for risk? Or is it dynamic and mental?

I use trailing stops, and only the EMA and I trade the 1min and 30sec chart. I'm getting much faster, but i'm wondering if there is a much faster and safer method for risk-management. I use X_trader pro(spread-trader).
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add symptoms===tendency to take risk,poor self control,doing a million things at once,poor organizational skills,tendency to overlook details,racing thoughts,talk excessively,impulsiveness,hyperfocus..all these things keep me hopping around and would make for a bad trader...i trade around this...i always get in early,impatient,can't wait,so if i used stops i would have all losses. To fix this I average,another bad trait ,luckily the es reverts a lot when it's going up,so if i short i can profit on the pullbacks. It doesn't always pullback soon enough or far enough,so i reduce the position on pullbacks and add on the next run up raising my avg short price,staying in the game. Eventually we get a 10,15,20 ,or more pullback and i cover ,wouldn't recommend it for a way to trade..i trade from nip(N) to cleavage(C) to nip to ledge(L) ,and it usually stops at those 4 spots,you never know if it will stop and resume,stop and pull back to previous N,C,L but you have a pretty good idea it will get to those points,and you can pick up the distance between them
 

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example..in this case i shorted 100.17 and have a bid at 98;85 and 100.a.nip and a ledge and started with a 7 cent stop at 100.24 and moved it down to 100.15..i'm trying to relearn scalping... the short was aided by the eur/usd in previous chart stopping at it's cleavage ledge area of 1.3113
 

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Quote from ammo:

example..in this case i shorted 100.17 and have a bid at 98;85 and 100.a.nip and a ledge and started with a 7 cent stop at 100.24 and moved it down to 100.15..i'm trying to relearn scalping... the short was aided by the eur/usd in previous chart stopping at it's cleavage ledge area of 1.3113
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dropped to to 100.6 and up to 12 and back to 07 ,didnt take profit,was taken out at 100.24 as stop doesnt kick in unless traded at or thru..dont like stops or scalping
 
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