ES Journal - 2012

[JoshDance]

Quote from Trvlwanderer:


direct uptrend inside a channel and I still get suckered into s/r or breakdown trades....foolish. And always a great way to lower your income.

So that I may learn, where did you get suckered into s/r trades? Of course since you have blown some steam and relaxed now, ignore this if it interrupts your "flow"

 

[ammo]

or we stop and pull back to the cleavage

 

[JoshDance]

I would think a final test of 82 would not be unrealistic, if we are to head up to 90s and 1300s.

 

[JoshDance]

Quote from ammo:

or we stop and pull back to the cleavage

Indeed sir, that is a distinct possibility.

 

[Trvlwanderer]

Quote from JoshDance:

So that I may learn, where did you get suckered into s/r trades? Of course since you have blown some steam and relaxed now, ignore this if it interrupts your "flow"

couple trades near the center of the channel with the pivot, yesterday's low, another s/r, value area. The entries were based off of points and the room to breath was too large for the stop (hindsight). So, I blundered through a batch of trades that were stopped only to reverse at obvious (hindsight) trendlines that I normally see.

So, I broke some of my simplest rules today....shorting near support, long near resistance, and trades in the middle of an obvious channel with too small a stop.

I don't mind losing trades and accept the risk, but breaking my basic rules is another issue. grumble, grumble.

edit: take the action right now...it is in the center of the channel, drifting upwards, but it would maintain that even with a drop all the way to the bottom channel. No reason to enter now and if so, better have a stop of at least 3 points to let it breath. My own basic rules.

 

[tortoise]

Quote from JoshDance:

I would think a final test of 82 would not be unrealistic, if we are to head up to 90s and 1300s.

love the double negative.

 

[JoshDance]

Quote from tortoise:

love the double negative.

You say that like it's incorrect or "bad." Besides, it makes the reader use twice the brain power to parse it; it's a challenge

 

[JoshDance]

Quote from Trvlwanderer:

edit: take the action right now...it is in the center of the channel, drifting upwards, but it would maintain that even with a drop all the way to the bottom channel. No reason to enter now and if so, better have a stop of at least 3 points to let it breath. My own basic rules.

Would your bottom channel be around 83 right now, and your steeper channel at 85?

 

[tortoise]

Quote from JoshDance:

You say that like it's incorrect or "bad." Besides, it makes the reader use twice the brain power to parse it; it's a challenge

lol. not meant critically. just observing what this market's doing to us all...

 

[lucky lucille]

NQ88.25S

typo 68.25