ES Journal - 2013

Quote from burn8:

Everybody who was short under yesterday's close is feeling pain right now. Overnight inventory was long and no sellers in sight today.

-burn8
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i am running about -7 currently. And whatever my conviction level, surely its not a pleasant thing to go over the weekend with full position 7 handles against you.
 
Quote from gmst:

i am running about -7 currently. And whatever my conviction level, surely its not a pleasant thing to go over the weekend with full position 7 handles against you.
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-4 on 4 contracts right now.

Make that -4.5..... I just see ES ramping, but the equities I watch aren't matching the move - that gives me some relief for now.
 
Getting that same crazy feeling in my gut I had from late 07 to fall of 08. I shorted the hell out of that fuck-fest and was right in the end.....but right didn't matter....the trades did and many of them were burns as the es strode to new highs.

Ugly days for me.

Now it feels the same.....
 
Quote from gmst:

i think you have gotten stopped like what say 7-8 times in last 2-3 days? Everytime losing 4 points is like losing 30 points.

One thing I learnt was that once I get stopped 3-5 times in close succession (like within 2 days or so), I don't reenter. It means:
1) either i am not trading well. so better to stop tradng for 2 days, clear your mind, rebuild and come into the game again.
2) or it means that market is trending massively and i am misjudging. In either case, stopping trading after 3-4 consecutive losses within 2 days, has saved my account a lot.
3) it can also mean a third thing which is that i am switching directions and buying tops and selling bottoms hoping for a breakout when mkt is in a range. Best to take a 2 day break.

Cheers.
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this is good advice.
big trend is definitely eating some of my money. ES isnt all i trade, but tough week. Does Saturday and Sunday count as two days ? :]
 
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