ES Journal - 2012
- Thread starter Buy1Sell2
- Start date
- Status
There's the breakout and p/b, on anemic volume.
Shorts will be squeezed into the close.
"They" know where you are...
Nice one...
Another nice catch, Mr Bond.
Do you exclusively trade the short side? Are you ammo`s younger brother?
Quote from gmst:
I mean for last 6 months, I kept making money in FX and kept losing it all in ES. It was a very hard time period for me. Finally I am getting ES - this feeling is making me excited. Everyone on ES journal saw I used to post trades and used to lose money on more than 70% of them
Wait, so you`re not a consistent fade any longer?
Just kidding, gmst.
Glad to hear that you`re figuring out things in the ES, but I`m a little curious why you don`t focus on FX instead considering that you are consistent there? The goal is to make money, right?
ES is a tough bitch to day trade if you trade that contract exclusively.
Quote from Laissez Faire:
Another nice catch, Mr Bond.
Do you exclusively trade the short side? Are you ammo`s younger brother?
LOL. No ,grand nephew
Majority are on short side as it easier to do my 'calcs'.I do do longs though .Had on earlier this week.
How are you trading these days. Have not see you around much.
Quote from keeptradin':
There's the breakout and p/b, on anemic volume.
Shorts will be squeezed into the close.
"They" know where you are...
Yep. I didn't think the breakout would go that far, and in fact it had enough gas for SPY to fill the gap (to the tick). So now I'm a little doubtful there's enough time for it to bounce all the way to new highs again, but you never know.
Filled the gap to the tick...guess that's why they call it "smart money"!!
Never ceases to amaze me...
Looks like the day may end up right back where we started...crazy market.
reduce 80.75, avg short 82
Quote from Laissez Faire:
Wait, so you`re not a consistent fade any longer?
Just kidding, gmst.
Glad to hear that you`re figuring out things in the ES, but I`m a little curious why you don`t focus on FX instead considering that you are consistent there? The goal is to make money, right?
ES is a tough bitch to day trade if you trade that contract exclusively.
Actually, I was telling everyone here that I am losing money on ES but I doubt if actually anyone faded me. Would have been good for them these past few months
Well I really have tough time answering your question as to why not trade FX only, but I will give you an honest answer. Lets see if you find it believable.
1. I realized in Oct/Nov 2011 that I am consistently losing money on ES. At that point there was no economic reason to continue trading ES and keep losing money on it. I actually decided many times that I won't trade ES but could never stop myself. Lure of the Siren call - you know. So, yes there was no economic reason to do it.
2. Finally, I *think* I know the real answer. Basically, my mind or my heart or my blood (however way you want to say it) didn't want to accept that I am a loser. Basically, it is my competitive spirit. In my subconscious mind, I felt that losing real cash while trying to trade ES is much better than making real cash by trading only FX and not trading ES. Yes, this is economic stupidity, but this also proves that market participants are not economic rational.
Agreed that ES is very tough to trade. I know it very well
Currently, I take maximum of 3 trades in a day on ES. On 90% of days, it is like only 1 trade in a day. Anything more than 1 or 2 trades and I see that I am trying to trade randomness wherein I invariably lose. Thats about it.- Status