ES Journal - 2012
- Thread starter Buy1Sell2
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Thanks Ammo,
I've only tried that a time or two and the way they covered which contract... early or late entries... confused me.
Tho the overall picture seemed solid, I didn't keep doing it.
I'll try again.
I have been taught... something slightly similar...
If you are using fibs and your experience says it will retrace to say the 50% and then reverse, so you put your short there. But it blows thru to the 61.8%... you can add a larger position at the 61.8% to recover you loss at the 50%.... you do this if in your opinion the market is at least respecting your fibs... there is likely to be at least a 1 or 2 pt scalp at the 61.8%... maybe your reverse also for the orgional day trade, etc. The risk is if it goes past your 61.8%.
I need to work on the anticipation and mental flexibility.
It's back down to that TL from after the 1st two hours of the open. Better watch that for now!
thx again
I've only tried that a time or two and the way they covered which contract... early or late entries... confused me.
Tho the overall picture seemed solid, I didn't keep doing it.
I'll try again.
I have been taught... something slightly similar...
If you are using fibs and your experience says it will retrace to say the 50% and then reverse, so you put your short there. But it blows thru to the 61.8%... you can add a larger position at the 61.8% to recover you loss at the 50%.... you do this if in your opinion the market is at least respecting your fibs... there is likely to be at least a 1 or 2 pt scalp at the 61.8%... maybe your reverse also for the orgional day trade, etc. The risk is if it goes past your 61.8%.
I need to work on the anticipation and mental flexibility.
It's back down to that TL from after the 1st two hours of the open. Better watch that for now!
thx again
Ammo is obviously much better at adding/reducing than I am.
It`s time for supper here in Norway, but I`m watching this trend line which also happens to be Friday`s high.
A good break there may be worth a shot. Tight stop of course.
Nothing for me unless that happens.
Any other thoughts? Anyone entering a day trade long from here?
If we take out 70s, it could be a potential nice swing long, no?
I remain stubborn to the short side.
A good break there may be worth a shot. Tight stop of course.
Nothing for me unless that happens.
Any other thoughts? Anyone entering a day trade long from here?
If we take out 70s, it could be a potential nice swing long, no?
I remain stubborn to the short side.
not always but often, we will retest that high before droppingQuote from Laissez Faire:
It`s time for supper here in Norway, but I`m watching this trend line which also happens to be Friday`s high.
A good break there may be worth a shot. Tight stop of course.
Nothing for me unless that happens.
Any other thoughts? Anyone entering a day trade long from here?
If we take out 70s, it could be a potential nice swing long, no?
I remain stubborn to the short side.
How confident are you that we will see a drop from this area and not continue toasting the shorts while marching towards 1400?
Tomorrow should be interesting.
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