ES Journal - 2013

[chaykapwr]

Quote from Builder17:

s 45.25
stop 49.25
t 41.5

Regardless if this trade works or not I must say, your entry and stop prices are HORRENDOUS . Clearly you are basing your entries are a smaller time frame (<=5 Min) ...so you entered short after a 7 point "plunge" (relative to the time frame of course) and then you place your stop at what appears to be some random number (probably what your ok with losing and not because of price action)

This is not someone to learn from

 

[Builder17]

Quote from chaykapwr:

Regardless if this trade works or not I must say, your entry and stop prices are HORRENDOUS . Clearly you are basing your entries are a smaller time frame (<=5 Min) ...so you entered short after a 7 point "plunge" (relative to the time frame of course) and then you place your stop at what appears to be some random number (probably what your ok with losing and not because of price action)

This is not someone to learn from

yeah, basically.
always willing to listen to helpful suggestions.

 

[Trvlwanderer]

Quote from chaykapwr:

Regardless if this trade works or not I must say, your entry and stop prices are HORRENDOUS . Clearly you are basing your entries are a smaller time frame (<=5 Min) ...so you entered short after a 7 point "plunge" (relative to the time frame of course) and then you place your stop at what appears to be some random number (probably what your ok with losing and not because of price action)

This is not someone to learn from

He may hit his target. But I agree I scratch my head at builders trade parameters.

 

[Trvlwanderer]

Quote from Trvlwanderer:

adding to LONG SPY position

Long ES 49.25 tgt AH highs+
Stop LOD

holding. hard stop now at 42.00

 

[Trvlwanderer]

Quote from Trvlwanderer:

holding. hard stop now at 42.00

out. not going to play with a break of this spt

 

[Builder17]

Quote from Builder17:

s 45.25
stop 49.25
t 41.5

out 41.5

 

[runnermint]

i'm not that convinced that we are experiencing a major pull back. granted several of the market indices have been losing, i'd like to attribute this observation as traders/investors are profit-taking. the current market environment does not warrant a shift into the risk-off landscape because (and i am assuming) that the usual correlations during a 'flight to safety' situation work.

- the current bond yields (bunds, treasuries // i'm leaving out JGBs) are relatively flat

- the dollar is down as well

- the gradual increments and gap up in VIX today seems minor as compared to the movements 2 weeks ago

- the credit spread (3m-LIBOR, 3m-T) is relatively flat as well

note: i do not necessarily trade based on these views.

 

[Trvlwanderer]

agreed on the big picture runner.

Looks like most indices are forming pennants. I'm still adding to the SPY long position, but I have a very low c/a on the bet.

Trading these consolidation moves tend to grind my equity curve away slowly.

A break of the pennants may produce enough move to show a healthy pullback.

Until then.......

 

[startraitor]

add 45.25

Quote from startraitor:

Short 49.25, exit eod.

 

[startraitor]

1500-1525 target this summer.