ES Journal - 2014

[kerry888]

why do you like to enter on 2nd entry short price action? they move down fast, same pattern you entered short twice on today

What do you mean by "2nd entry short price action"? Do you mean why do I try a short immediately after a similar short?

 

[wiesman02]

What do you mean by "2nd entry short price action"? Do you mean why do I try a short immediately after a similar short?

Think he is referring to the weakened upside move after a move down . I referred to it earlier as divergence and he calls it second entry short.

 

[volente_00]

added 35.5

stop 34

avg 36.5

reversed short 38


stop 40.5

objective is 31.25

 

[kerry888]

Somebody mentioned something about having an opinion is bad. Well, when scalping, i mean really scalping a tick or two, then i guess it's all about being mindless reactionary..but try to capture moves a bit larger intraday, a few points 9 points how can you have "no opinion" on direction?

it's not possible

 

[kerry888]

reversed short 38


stop 40.5

objective is 31.25

beautiful trade, but now you're too early with this short

 

[Stocks4life]

http://priceactiontradingsystem.com/day-trading-second-entries/

just taking a 2nd entry short with the mild down trend on 2000 tick ES bars at around 10:14 and 10:44 (see blue circles)

 

[volente_00]

beautiful trade, but now you're too early with this short

We shall see but once again that is what my stop is for

watching 43-43.5 spx for possible head and shoulders

 

[kerry888]

YM needs to get a lot greener here..ES needs to retest highs here if we are to selloff later today, i think

we're talking about 4 points ES to retest high, very doable

 

[Stocks4life]

Somebody mentioned something about having an opinion is bad. Well, when scalping, i mean really scalping a tick or two, then i guess it's all about being mindless reactionary..but try to capture moves a bit larger intraday, a few points 9 points how can you have "no opinion" on direction?

it's not possible

opinions get in the way, unless you objectively are looking at the overall big picture trend, support/resistance and context, but emotional opinions not tied to price action will hurt results. The 9 point moves yesterday were well defined short term price action trends.

 

[volente_00]

Somebody mentioned something about having an opinion is bad. Well, when scalping, i mean really scalping a tick or two, then i guess it's all about being mindless reactionary..but try to capture moves a bit larger intraday, a few points 9 points how can you have "no opinion" on direction?

it's not possible

an opinion is not bad but having a stong bias will cause you not to listen to what the market is saying


You have to remain objective and be able to react at any second if conditions change while at the same time having discipline and patience to hold to predefined entry and exits. This is where most fail because they lack a trading plan.