ES Journal - 2012

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In my continued attempts to look at the market objectively, logically, and NOT what I "hope" or "wish" would happen...

We have a 22 point range this week. If we finish the week in this range (I cannot see why we would go outside of this range), and if the market closes around 75, we will have a nice little doji for the week. A gap up, and then indecision. After a 20 point gap up, the range is held to 22 points, with no further push up than what the gap itself created. Seems quite bearish for the coming week doesn't it? What do you think?

Still waiting for a 71 long possibility... stars must line up and talk to me first though.
 
Quote from lucky lucille:

Josh, can astrology really predict price? :p J/K
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It's funny you say that because my friends father who is also a day trader is up 100% for the year using the stars.

What a whacky market, go figure...
 
Quote from seouljah75:

The irony is that when I first started trading about a year ago, I was up like $3000 in a week and a half. I was startled. I used a trendline trading type system. Of course I lost it all back. But, during the first couple of months I was able to catch some big swings netting 10 to 20 points plus, but also lost it all back to the market.
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I had similiar experiences when I first started trading futures. Started off with TF back when it was trading under the symbol ER, used trendline breaks to enter, and racked up some decent wins for maybe a couple weeks. This is before I knew the importance of price levels. I thought wow this is great, and even contemplated leaving my day job at the time. When things stopped working I started adding indicators, tweaking settings around, adding multiple indicators, paid for fancy customed indicators, all to no avail and blowing up a few mini accounts in the process.

It's interesting to look back at how I ended up winnowing down all my chart tools as time went on, essentially coming back full circle to good old fashion support/resistance, horizontal price levels. No doubt all part of the learning curve.
 
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