ES Journal - 2012

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Quote from KDASFTG:

Greetings,

I don't see it so much as "manipulation", as it is the market carrying out its primary function. As Pete Stedlymayer said some time ago in his book, Mind over Markets; "The primary function of the markets is to facilitate trade".

And I believe the best place to "find trade" is to seek out where the retail stops are located. If you look at you charts from that perspective, and seek join the "Big Boys & HFT's" rather then fight against them, you might see things in a different light. Its kind of eye opening I think,...what do you guys think?

KDASFTG
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i agree. took me a long time to see this but in reality that is a market makers function. easy to see, hard to trade like market makers cause they see what we cannot see. guessing where stops rest is not as easy as it sounds. so u have to pick levels and have confidence to keep trades to that level or fade at those levels.
 
Quote from KDASFTG:

Greetings,

I don't see it so much as "manipulation", as it is the market carrying out its primary function. As Pete Stedlymayer said some time ago in his book, Mind over Markets; "The primary function of the markets is to facilitate trade".

And I believe the best place to "find trade" is to seek out where the retail stops are located. If you look at you charts from that perspective, and seek join the "Big Boys & HFT's" rather then fight against them, you might see things in a different light. Its kind of eye opening I think,...what do you guys think?

KDASFTG
More...

http://www.nytimes.com/2012/07/08/b...w-on-wall-st-fair-game.html?pagewanted=2&_r=3
 
56.5 could potentially be next key level where stops are sitting. not saying we will get there today but just sharing what i am seeing.

again not trading the larger time frames (not in trade currently) and i am seeing this on 120min chart. being low volume + friday, not much will get in the way. at the same time is there enough buyers out there to get it to that level? i have no freakin idea. pissed at myself for not taking any of the long trades this morning although it met my criteria.
 
Quote from mastacoli71:

:D
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btw, net negative 500 for the day! made 750 trading ES and NQ and lost 1250 being short AUD earlier. LOL.

Would have made net 2000 had ES gone down to below 1315. So, expected R:R: of 4:1 for the daily return, but ended up losing.

Net negative week also.

Have a nice weekend everyone.

Mastacoli - I hope you didn't break your rules mate :) I have been guilty of it myself on a number of times - so I am reminding you. No offense I hope :)
 
Hey guys,

I have been thinking about trying out the futures market. I have been doing options for about a year, and just wanted to give something else a try as well just to see how I do. I am 20 and pursuing my finance degree. I am really trying to learn as much as possible.

I just opened a demo account with ApexFutures. I am going to try them out next week and see how I like their setup. Any advice on what to trade and not trade? I am interested in Copper and Oil and have been thinking about ES as well. I have followed copper and CL for awhile but just looking at the price and getting an idea of where I think it is going. Nothing technical.

Any input for a newbie?
 
Quote from FCXoptions:

Hey guys,

I have been thinking about trying out the futures market. I have been doing options for about a year, and just wanted to give something else a try as well just to see how I do. I am 20 and pursuing my finance degree. I am really trying to learn as much as possible.

I just opened a demo account with ApexFutures. I am going to try them out next week and see how I like their setup. Any advice on what to trade and not trade? I am interested in Copper and Oil and have been thinking about ES as well. I have followed copper and CL for awhile but just looking at the price and getting an idea of where I think it is going. Nothing technical.

Any input for a newbie?
More...

Don't trade ES, choose something else. ES is one of the hardest beast to trade. If you still want to trade ES only because maybe you don't want to make money but rather hit your head against brick wall, read this.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=241226
 
Quote from gmst:

Don't trade ES, choose something else. ES is one of the hardest beast to trade. If you still want to trade ES only because maybe you don't want to make money but rather hit your head against brick wall, read this.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=241226
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Well sounds like a solid reason to avoid it. I am assuming based on all the people that trade it on here there obviously is room for some big profits once you tame the beast. I, however, have no clue about trading it. So I think sitting on the side would be best for it then.
 
Quote from FCXoptions:

Hey guys,

I have been thinking about trying out the futures market. I have been doing options for about a year, and just wanted to give something else a try as well just to see how I do.
More...

if you are good in options, why not increase your size for those? sometimes i wished i had stuck to swing trading stocks and ETFS and not ventured into futures at all! (unfortunately damage was done.. lol)
 
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