ES Journal - 2012

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No telling where this will end up today. Unreal. Once it broke 76, nothing but air above. I think 1415 is in the cards now. Not today, but soon.
 
Quote from sttrader:

Stopped. Short small at 78.5
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Your stops are moved closer, not further out, as you do this you are disrespecting your initial pre-defined risk, the reason you have a stop in the first place, this is why people blow up all the time, they take bigger risks than intended.

Then you get stopped and immediately take the same directional position with a higher stop, which is pretty much the same as moving the stop once again.

I'm sure I will come out as a prick for saying this but eventhough Im no trading expert, I know this much, that should not be done.

Just think about it before yelling, the market is telling you, you are wrong, you getting stopped, dont keep fighting it.

Good luck.
 
Quote from gmst:

why not hold overnight ? Just psychological or any reason grounded in market reality ?
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Reality is that the trader has not any control . There is no point having an exposure. The next trading opportunity will come in due course.
 
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