ES Journal - 2012

[JoshDance]

Quote from JoshDance:

SIM short 1 @ 67.25

out 70.25, -3.00 on 1 // ouch

 

[ammo]

Quote from ammo:

reduced 66.25,just trying to raise avg

add 70..av 64.6

 

[ActiveTrader07]

Quote from ammo:

here si a tl s/ r for simplicity's sake, i use market profile s/r and trendline s/r in eur/usd and trans also as they all work together

You basically add at resistance and reduce at support. I understand the concept, but the key is getting the add/reduce in the correct size before reaching the maximum position size and maximum dollar loss. Thanks.

 

[Macho]

Sold 1 @ 136950 and another on at 137225

Stop ZB 143'10

 

[FreakofNature]

Is it me

I cant pull the trigger long

All longs working

but Im petrified

lol

 

[ammo]

Quote from ActiveTrader07:

You basically add at resistance and reduce at support. I understand the concept, but the key is getting the add/reduce in the correct size before reaching the maximum position size and maximum dollar loss. Thanks.

i rarely take the max dollar loss.less than 15% of the time,so ya make money 85%,just patience,i just play the short side so sometimes you wont trade for a week or more,once in you just defend your position til we correct

 

[ActiveTrader07]

Quote from FreakofNature:

Is it me

I cant pull the trigger long

All longs working

but Im petrified

lol

I agree, and short trades just get mowed over.

 

[Hooti]

Quote from ActiveTrader07:

You basically add at resistance and reduce at support. I understand the concept, but the key is getting the add/reduce in the correct size before reaching the maximum position size and maximum dollar loss. Thanks.

Am I clear again on your use of the word 'reduce'?

Are you saying you take more shorts, add more contracts, at resistance.
...are you reducing the number of contracts at support? so some are making a profit for you even while the bulk of your short contracts are being held as the market moves up?

that is how you are adjusting your contract size...

 

[Laissez Faire]

Quote from Laissez Faire:

Short @ 64. Stop @ 67.

Got run over by the freight train.

Two failures around the 70 area, but sure as hell no sign of selling yet and I will not forget the demonstration of power during the open too soon.

I wonder what is next if the 70 area does not truly act as resistance. Should clear the way pretty fast to 1400 and beyond, yes?

I just don`t want to go long here. Prefer to try and position myself for a new short when the time is right.

 

[JoshDance]

SIM long 1 @ 68.75

uneasy feeling means I shouldn't be in a trade probably