ES Journal - 2013

I called for 1700 and higher a few pages back and was questioned by how I could consider a long with the gap below at 1650.

The market's traded almost 70 points higher than that gap by now. Just a reminder that it's not always wise to trade against a gap, just because there's a gap. Often, a gap will set up a move in the direction of the gap without looking back, both intraday and on daily charts.

Now, I'm not predicting that the gap won't be closed in the immediate future. I'm not that good. I'm just saying that it's a good possibillity that we will leave it behind for a while. :)

Nice trading, Pinkman. Be careful though. It can go both ways. ; )
 
Quote from Laissez Faire:

I called for 1700 and higher a few pages back and was questioned by how I could consider a long with the gap below at 1650.

The market's traded almost 70 points higher than that gap by now. Just a reminder that it's not always wise to trade against a gap, just because there's a gap. Often, a gap will set up a move in the direction of the gap without looking back, both intraday and on daily charts.

Now, I'm not predicting that the gap won't be closed in the immediate future. I'm not that good. I'm just saying that it's a good possibillity that we will leave it behind for a while. :)

Nice trading, Pinkman. Be careful though. It can go both ways. ; )
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Predicting and pulling the trigger with your money on the line are 2 different things
 
traders are best off focusing on their bad calls and analyzing the best ways to trade out of them,money is easy to make,harder to hang on to
 
Quote from hafez50:

no stop as of yet. my soft stop in my mind is 1750 but i'm looking at this as a long term hold right now.
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I'm still looking for 1740-50 as a top


Weekly we are getting to top of channel

Mean reversion to 1700 Es in play from 1717-21 area


My range for rest of week is 1724 to 1700
 
Quote from volente_00:

Post your trades
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Why?

Seems like your feelings are hurt for some reason?

I've posted many trades on this site, but I'm not actively trading at the moment. Still, I think it's nice to make real time commentaries about where I think the market is going and why.

In fact, I think everyone posting trades should reveal at least some of their thought process and rationale for a trade, both for the benefit of those reading and also for themselves, since there should always be a good reason for taking a trade.
 
Quote from Laissez Faire:

Why?

Seems like your feelings are hurt for some reason?

I've posted many trades on this site, but I'm not actively trading at the moment. Still, I think it's nice to make real time commentaries about where I think the market is going and why.

In fact, I think everyone posting trades should reveal at least some of their thought process and rationale for a trade, both for the benefit of those reading and also for themselves, since there should always be a good reason for taking a trade.
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Feelings ?
LOL

You are pumping your ego about being right about an up move in a bull market but to afraid to back your thoughts with real money

Grow some balls and pull the trigger
 
Quote from volente_00:

Feelings ?
LOL

You are pumping your ego about being right about an up move in a bull market but to afraid to back your thoughts with real money

Grow some balls and pull the trigger
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You're the one with the ego here, Volente. I'm indebted to you for offering me guidance when I was greener than the grass over the septic tank, but that does not mean I'm not allowed to disagree with you now or that you could even learn a thing or two from me. :)

I could post a few paper trades, but I don't see what the purpose would be. If I offer my opinion about where the market is going in real time, surely that has to be more valuable for the forum and those reading?

I posted what I posted both as a reminder to myself and others reading, since I've learned that blindly fading a gap is a losing strategy.

Best regards.
 
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