ES Journal - 2014

Handle123 said:
Well, took sizeable loss in ES Futures short yesterday and got out average price of 1925.00, today sold all call options for very very nice gain to cover futures losses and add tidy little profit. And I did it all again, Long term short ES ave price of 1947.50 and bought Call options for a hedge.

Lots of hits at 1248.00/48.25, if it won't go up........
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Yesterday, I got stopped out for very small gain on ES(including losses on the hedge). Was up 30pts at one point for long term trade, BUT, once my protective stops go in they are not moved and first target was not reached , have to just watch it all go bye bye. LOL

Today I went short again from 1951.50 to 1952.00 and got hedged again in ES. I am just a puppet on a string.
 
one thing to consider is that people were trading for 4 ticks years ago when ES was below 1000.. now at 2000 maybe 8 ticks is more functional..
 
Handle123 said:
Yesterday, I got stopped out for very small gain on ES(including losses on the hedge). Was up 30pts at one point for long term trade, BUT, once my protective stops go in they are not moved and first target was not reached , have to just watch it all go bye bye. LOL

Today I went short again from 1951.50 to 1952.00 and got hedged again in ES. I am just a puppet on a string.
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Forgive me for being a flat price outright futures guy but what are the advantages of hedging with options over just betting short on futures if you believe price is going down? My options knowledge is relatively limited.

Is it so you don't need to use a stop loss that might get slipped? Better way for you to cap risk?

Also, Was that you covering your silver shorts today ? jk:)
 
Market looking very nice again.
Hopefully we can hit 2010 ES next week to take the sting out of the fact that England are probably out of the World cup!
 
OTCkrak said:
one thing to consider is that people were trading for 4 ticks years ago when ES was below 1000.. now at 2000 maybe 8 ticks is more functional..
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four years ago when VIX was 30+ the daily price range for ES was 20 - 40+ index points. A 4-tick move was common inside of 1-min price bars. You could feasibly target and capture several (aka multiple) +8 index-point profit trades... many more days than not.

Nobody in their right mind targeted ticks back then... ticks were nothing but mere noise. Now the VIX is at 10 and total daily ranges are 6 - 10 index points. ES will commonly chop a 3-tick range for half an hour, unbroken, multiple times daily now.

Notional value of an underlying for futures means less than nothing about trade size and trade values. It is meaningless. Futures trading is totally dependent on volume, volatility and ranges... which are all tied together.
 
Thread still going! :cool:
(although a fair bit quieter than I remember it)

Kind of feels like we've been going up about 4 days out of 5 every week for the last 5 years or so!

Wonder how high we'll be by the end of the year? The skill has been taken out of the game somewhat, and as someone in another thread said, it makes a mockery of charting/analysis etc (just buy and wait for the money to roll in, lol), but there's still money to be made I guess!
 
austinp said:
. Futures trading is totally dependent on volume, volatility and ranges... which are all tied together.
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partially dependent ,inside the major supports.res's

Gray whales eat very little while on migration. Still, they may find and eat schooling squid, krill, crab larvae, herring eggs, ghost shrimp, and small bait fish such as capelin. This jar of whale food shows how TINY it is! An adult gray whale in the summer feeding grounds eats approximately 2,400 pounds of food a day
 
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