ES Journal - 2012
- Thread starter Buy1Sell2
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An example of an analysis, and then failure to follow the rule implied in that analysis:
44 held, as did 44.25 afterward, so no reason to short this until 43.00 broken. Lesson learned, I hope. (EDIT: a short at 46 or so has merit and is reasonable, I think, but the location I entered at made the trade a disaster from the start).
It's almost always the case that a relatively impulsive entry yields a bad price, when it's against the generally established momentum anyway, resulting in either a small stop and small risk, yet incredibly high risk of a stopout, or a large stop and large risk, and still a decent chance of being stopped out. That's what happens when I sell at support, anticipating something that may or may not come.
44 held, as did 44.25 afterward, so no reason to short this until 43.00 broken. Lesson learned, I hope. (EDIT: a short at 46 or so has merit and is reasonable, I think, but the location I entered at made the trade a disaster from the start).
It's almost always the case that a relatively impulsive entry yields a bad price, when it's against the generally established momentum anyway, resulting in either a small stop and small risk, yet incredibly high risk of a stopout, or a large stop and large risk, and still a decent chance of being stopped out. That's what happens when I sell at support, anticipating something that may or may not come.
9-11 points so 47-49
question though....since it pinged the area within 20 minutes prior, does a drop and then re-touch render it dead?
looking to short at 49
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