ES Journal - 2014

[CoolHandLuke]

short ES @ 1911.50 target 1908.50 5 contracts SL 1913.50

 

[Handle123]

How have u hedged? Long 30 yr bond?

Call options.

 

[Handle123]

When you say hedged, you mean being long a straddle ?
(like short 1 future long 2 atm calls)

Short the futures and buy call options, if futures hit my areas of it went too high up, I take loss on futures and keep calls for so many days to cover losses on futures and often times make overall profit on position.

 

[Handle123]

Why are "trans" so important to trades in the futures indices? why trans over the other sectors?

I believe it goes back to Dow theory made in 1920's? If you not hauling or using rail to move goods, then that shows economy not buying, and goods not being bought, means people being layed off, stock market takes a tumble. America though not much like in 1920s of a production country, more like consumption by buying foreign made goods, but they still have to be transported. Transports is my number one thing I watch besides 200 day moving average of S&P500 to get insight in overall trend of the our economy. Tells me how to trade the markets, whether I should sell real estate holdings or buy more, whether I should build a business or put on shelve, many areas of living in this country or maybe so much instability of relocating outside of USA. More one takes interest in our economy, the safer.

 

[MadSpeculator]

short ES @ 1911.50 target 1908.50 5 contracts SL 1913.50

Cool: What did you see to take that short? I was long at 9.50 and added at 10.50 with a target of 12.25. Ended up exiting both positions at 10.50. So was just wondering.

 

[CoolHandLuke]

Cool: What did you see to take that short? I was long at 9.50 and added at 10.50 with a target of 12.25. Ended up exiting both positions at 10.50. So was just wondering.

wow well that particular trade was kinda of sperm of moment..boom just made sense, to take it.

my NQ trade, was much more thought out, you can see where i am there.

i will try to elucidate my thought processes in future.

thanks for asking

 

[Handle123]

wow well that particular trade was kinda of sperm of moment..boom just made sense, to take it.

my NQ trade, was much more thought out, you can see where i am there.

i will try to elucidate my thought processes in future.

thanks for asking

You take the short cause of the Head & Shoulders, declining volume, breaking trendline, price bounce off trendline that started off 3726 area. Did I miss anything? I went short as well, then I made idiot move of reversing at 3714, got redeemed on last minute of the day.

Nice trade.

 

[MadSpeculator]

wow well that particular trade was kinda of sperm of moment..boom just made sense, to take it.

my NQ trade, was much more thought out, you can see where i am there.

i will try to elucidate my thought processes in future.

thanks for asking

I was hoping you would say bids couldn't hold 10.50 prior to testing 12s . Thanks for your response.

 

[Scaleout.Scalper]

Like ten years ago, I decided I would only enter taking nothing but shorts all year in ES in day trading under 60 minute timeframe, from January to end of December. Was one of the highest winning percentage years up till then and my profits per trade has never exceeded that year. And that "experiment" helped me understand that I can use more contracts trading south and uptrend will always be more choppy cause too many traders believe it is un-American to sell the stock market. The longer you trade markets, it really changes how you think, what you think you need as far as channels and trendlines on the chart, you can just see it on the charts without having indicators or lines. When you play the same game for so long, well...if you played Pacman for over three decades, you can pretty much do with one eye open and using you foot on joystick.

More for me, LOL.

A trader of many seasons once told me, if shorting did not work in the SP500, it wouldnt be at the # it is now but surpassing the 500,000 mark, yet, today, even around all time highs it is situated at an insignificant 1900.

Food for thought.

 

[Scaleout.Scalper]

Short the futures and buy call options, if futures hit my areas of it went too high up, I take loss on futures and keep calls for so many days to cover losses on futures and often times make overall profit on position.

How many calls per ES contract?