ES Journal - 2012
- Thread starter Buy1Sell2
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How can you get effectively critiqued without knowing the trading plan, setups, and money management of a person. If those don't exist...that may be a start.
So many systems in use. I don't normally use trendlines, but they have been effective as of late so I pay attention to them. I normally use levels of s/r and value areas, but those are not getting the normal attention they warrant.
As I was grumbling early in the week, it was because I was refusing to see what what was happening. Once on board it was easier to manage. This is not a changing of systems, but the ability to spot subtle changes and exploit them.
Do not take me wrong...I am no teacher or guru, but I need to be successful. I don't mind sharing what I can, but take it in the context given.
And I get bored so I post.
Hurricane speaks of EDGE.
This is critical and I assume you have an EDGE. If not, my comments need to be ignored.
This is critical and I assume you have an EDGE. If not, my comments need to be ignored.
L77
78.25 CB
target 80
78.25 CB
target 80
Well, this was my best week ever, no losing days Sun - Fri. I will talk about my last trade.
For CL I am filled at the bottom, and then it goes up, comes back down, I get scared and take a 4 tick loss only for it to go back up. I did not leave my trade enough room to breath. So I am not chasing it.
So I see ES, now it made a LL, however this is still a possible HL low due to fib retracement, and I go long. At 1st I put a 1 point stop. However, I see another fib around that price, so cancel my stop and put a buy order which does not get filled. I also go long CL since it has retraced a bit but I still have to buy higher than my original price if I did not get scared out. CL shoots up but is around 5 ticks from my target and is starting to retrace 2 ticks, since I know I am also long ES, I close CL out at profit.
Now ES never goes back down to touch the low which is good. I move my stop below this low since if this low now breaks I may be wrong about the trade. Finally, ES hits my target. Now none of these trades are swing trades but these scalping trades add up.
For CL I am filled at the bottom, and then it goes up, comes back down, I get scared and take a 4 tick loss only for it to go back up. I did not leave my trade enough room to breath. So I am not chasing it.
So I see ES, now it made a LL, however this is still a possible HL low due to fib retracement, and I go long. At 1st I put a 1 point stop. However, I see another fib around that price, so cancel my stop and put a buy order which does not get filled. I also go long CL since it has retraced a bit but I still have to buy higher than my original price if I did not get scared out. CL shoots up but is around 5 ticks from my target and is starting to retrace 2 ticks, since I know I am also long ES, I close CL out at profit.
Now ES never goes back down to touch the low which is good. I move my stop below this low since if this low now breaks I may be wrong about the trade. Finally, ES hits my target. Now none of these trades are swing trades but these scalping trades add up.
they are not buying aggressive here,you have a bull bias,i have a bear bias and only trade half the time,so wait for better bull setups,time of day like lunch just keep getting beat til you trade it less or stop trading it,and your a contrarian,good quality but have to pick your spots,in short,get rid of the bull bias,dont trade lunch and dont be a contrarian,if you have to be bullish and contrarian,trade less often with better setups,you can easily make money,sitting on hands is how you keep it ,overtrading is how you give it back
How can you be sure its net distribution?
How do you know what time frame players, the accumulation - distribution apply to.
How do you know what 'their' position was before the start of the move?
They may be covering only part of their position in a zone that provides the liquidity to do so.
Was the net buying pressure from waiting demand, that got triggered at that level? who knows what their time horizon is.
was there net buying pressure in index futures ? but distribution in stocks and options?
So many variables
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