ES Journal - 2012

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Quote from Hooti:

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...
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yes. say you are short 7 units,it pulls back ,you cover 2 or 3,it rallies ,you put them back out ,raise your avg price,rinse repeat,eventually we correct and you are already short to take a profit
 
Quote from JoshDance:

SIM long 1 @ 68.75

uneasy feeling means I shouldn't be in a trade probably
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What`s your target on this one?

With an RTH range above average and near an important resistance zone, the upside should be limited from here, IMO.

But maybe we blow through 70s now?
 
Quote from Hooti:

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...
More...
That is correct, but there is obviously an art to adding/reducing before hitting the maximum loss.
 
Quote from ActiveTrader07:

That is correct, but there is obviously an art to adding/reducing before hitting the maximum loss.
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max loss is 20,rarely get there,that's also the avg pullback,although not lately
 
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