ES Journal - 2012
- Thread starter Buy1Sell2
- Start date
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sitting beneath neckline and obvious res.
es not stepping with eur
under the ema 20
at and under the previous down trend.
probability says do not long
probability is just that...a probability and an edge, but NOT guaranteed.
es not stepping with eur
under the ema 20
at and under the previous down trend.
probability says do not long
probability is just that...a probability and an edge, but NOT guaranteed.
and just below yesterday's lod.
and just below the OB low.
Quote from Laissez Faire:
And if you`re averaging a loser, I believe I wrote about that earlier.
Thanks for advice LF, I meant to clarify one thing: the premise of the add was not the same as averaging a loser. The trade was a "loser" when 74 was hit, which is where my stop was. I wanted to buy somewhere in the 75.50 to 77.00 range. I could have waited for 75.50, but 76.75 was an equally "good" price for the trade I wanted. I would have had to move my 74 stop lower and add below 74.00 (or for my premise really 75.50) in order to be averaging a loser.
I am at least as adamant about not averaging a loser as you are, but 75.50 was simply the lower portion of the range that I considered an acceptable area to buy. I would not be wrong until 74.
edit ""close" not "low"
You are long here?
- Irrespective of what price action says or any setup says, I won't go long in the face of a game changing news like French downgrade.
I would rather sit back and miss the long trade, in face of such news.
Everything said and done, its interesting that S&P has managed to come back up so far and managed to keep in the top end of today's RTH range. JPM missing, French downgrade still - no proper weakness. Wondering what does it say for the market.
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