ES Journal - 2012

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Quote from mastacoli71:

That is before commissions so the 10% would actually be less.

The simple backtest I did was buy cash close, sell next day cash open. Did not dive any deeper into it then that; don't see any reason to unless indicators and MA's are used. At that point the strategy becomes market timing.
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Thanks for your research. When MA's or indicators come into the picture it will become 'trouble' as that is subjective. Had a feeling that the commissions will put a hole in the profits,that is why I asked.

All in all it is no different than drawing a line in the sand i.e +/- 2 points from close and 'swinging':D
 
The gap open at 1352 is a major upside target so I'm not interested in shorts until that level. I expect buyers at every pullback and will look only for longs.
 
Quote from mastacoli71:

What do you mean by reduced? I'm not familiar with the term. Does it mean hitting the TL that you have drawn? Thanks in advance.
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one was the monthly lines drawn and reduced it down to a 30 minute chart the numbers are accurate,on the monthly that line is maybe 4 pts thick
 
Quote from Lawrence Chan:

It is not the longest one in history doing this grind up thing.

Give it a day or 2 more (so by end of this week) it will enter the zone in terms of time that it is more likely to revert to mean - in this case more down days over up days.
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How about the period from 1995 to 1998 pretty much straight up.
I have said this before take your largest winning trade long or short and that is likely your bias. If you short this pig you better have a tight stop. Lawrence hope you are well. :)
 

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Quote from ammo:

one was the monthly lines drawn and reduced it down to a 30 minute chart the numbers are accurate,on the monthly that line is maybe 4 pts thick
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Thanks ammo. Should be pretty decent resistance to short off of going forward. However if it breaks, air gap up to 1370.
 
Quote from kinggyppo:

How about the period from 1995 to 1998 pretty much straight up.
I have said this before take your largest winning trade long or short and that is likely your bias. If you short this pig you better have a tight stop. Lawrence hope you are well. :)
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Yea could definitely test those 07 highs again. Such an outcome will probably surprise most people (and cause them to lose $$$!!), nobody will expect the market to hit those levels when the economy is in the tank.
 
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