ES Journal - 2012

[Pita]

Quote from Laissez Faire:

Nice one, Pita.

I went long 38,50. Stop @ 37. Same target as earlier.

Last bullet for today.

shall see 40 quickly then door is open for rallye

 

[ammo]

Quote from ammo:

3.7/1

back up to 4.8

 

[ammo]

100k at 43 and 73 k at 37- 37.5 sell 4 ..buy 3..or are we going back up

 

[Pita]

buy stop 39.75 and 40.25 for 8 ticks each stop 38.50

 

[Pita]

Quote from Pita:

buy stop 39.75 and 40.25 for 8 ticks each stop 38.50

pending longs cancelled bias down now but not enough for a short

 

[gmst]

Quote from Laissez Faire:

It's common sense. Of course there's commissions, but they should be irrelevant when compared to your improved risk management.

You mentioned that my analysis might be correct for most days. In terms of statistics, should you not set yourself up to exploit most days?

I`m not so sure about the long side any longer, but if I get back in long now, maybe as low as 34, I will have improved my entry and profit potential by 7 points, while you (no offense taken I hope), need a 7 point point move just to break even.

Well, the point is 3 point improved price condition does not hold if you are taking breakout trades. Because if the price has retraced and hit your stop, by definition, it does not remain a breakout anymore. So, it nullifies your set-up condition.

However, I agree if you are testing for pullback trades, then yes you will get an entry with 3 pt improved price. It can be argued however that once price has pulled back a lot, then it no longer remains a pull-back trade as well (but I am not certain on this argument).

 

[Laissez Faire]

Bull flag breakout pending.

Adjusting my stop to 37,50. 1 point below entry. We certainly should not retrace that much, in my humble opinion, if the day high and new highs are in play for today (considering the time of day).

 

[gmst]

Quote from gmst:

Same trade as yours, just that I have no stop at this time.

out at 39.5 for -1.5

After two days of intense rally, could be time for a breather

I am going home with a short NQ @ 2701, looking to get 2680-85 or so on this one overnight.

 

[Laissez Faire]

Quote from Laissez Faire:

I went long 38,50. Stop @ 37. Same target as earlier.

Covered at breakeven. Not extremely confident in new highs, but will rather enter on the bull flag breakout if we do.

 

[ammo]

Quote from gmst:

out at 39.5 for -1.5

After two days of intense rally, could be time for a breather

I am going home with a short NQ @ 2701, looking to get 2680-85 or so on this one overnight.

2675 if we drop