ES Journal - 2012

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Quote from Lawrence Chan:

Posted at vol's bar that I have major sell signal in place for NQ by close.

ES I need confirmation by tomorrow and probably Friday. =)
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can you explain more what you see? ty
 
A week ago we went above 1300 ES and have not been back below. 1305 continues to be an area of support. With people talking bearish, I have to wonder why. I have had a terrible two weeks, so I'm a pretty good fade right now, but curious as to why you who are bearish are thinking this way?

In this chart the balance area that has formed over the last 4 or 5 days is shown; 08.00/08.25 has been the VPOC for 3 of the last 4 trading days; perhaps a retest of this area, or the 05 area, are in store? The fed action started in this area as well. Lots of scenarios possible, but I will be looking to buy, as long as we stay above 05. The short today I took was a lame brained attempt at a trade idea that I should not have tried with real money. Market was clearly bullish all day.

http://screencast.com/t/oHLWpPVG
 
good thinking JD i agree i don't see reasons to be bearish although we're due for a pull back. that said i lost money shorting as well (short aud and eur, and a bit of ES ):( :(
 
Quote from fishing:

can you explain more what you see? ty
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proprietary model. hard to explain.

NQ has very limited upside left for the coming 3 months is the projection.

posting the call here just that I consider some here my friends.
 
Quote from JoshDance:

Sobering and to the point. Makes sense, hard to argue with it.
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Yeah man I hope I didn't come off as a jerk or anything, but over the past 6-12 months I really really understand the whole idea of trading what you see. A lot of the usual trading cliches really sound ridiculous until one day they become so obvious and telling that you can't ignore them. You feel silly for not following them once they really sink in.

Personally I would rather be caught buying a high, as opposed to selling high after high. To me, buying a high is a one time mistake, where selling a high can happen more than once in a trend. There is going to be a day (maybe very soon) where this market falls off a cliff. I take comfort that I don't need to predict when it will happen, my plan will alert me, and hopefully I will have the sack to act on what my plan tells me to do. There is comfort in the simplicity of that plan, and I think everyone can get there.

Okay okay I'll get off the soapbox :)
 
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