ES Journal - 2015

[iloveoptions]

Cancelling all orders now in March, and trading June. Shorted 2060, adding 2072 - GTC

I'm short from 2060, and I've Cancelled/Replaced add with 2078.25 instead - GTC.

 

[fortydraws]

which contract?

NQ traders do you know where Friday's high was, and where price is relative to that high? IMO, that can be pretty relevant information. If today's high is the top of a range, then Friday's high, imo, is a candidate for the lower limit of a range. I'd at least want to know where that level is and be watching if/when price trades near there there, i.e. 41.75 +/- 2 or 3points June.

IMO, a close at or near the day's highs, above the current 56 high, is more likely by far than a break below Friday's low before the close. But that would leave me with 4 scenarios, were I still looking to trade this afternoon, and my plan has them all covered. In other words, I am flat, and I would look to enter at or near 41.75 or 56. The direction depends on whether a reversal or a BO/ret

 

[artemstreb]

i short 2065.25

dig deep here?57.75??

add short 2067

no long can feel confident here

 

[artemstreb]

IMO, a close at or near the day's highs, above the current 56 high, is more likely by far than a break below Friday's low before the close. But that would leave me with 4 scenarios, were I still looking to trade this afternoon, and my plan has them all covered. In other words, I am flat, and I would look to enter at or near 41.75 or 56. The direction depends on whether a reversal or a BO/ret

the close is 3hrs away, what you do now?

 

[fortydraws]

the close is 3hrs away, what you do now?

I'm done trading for the day. But if I were not finished, I'd be waiting for NQ to trade to 41.75 and watch or trade to 56 and watch. Either reverse or BO. That's just me.

 

[artemstreb]

I'm done trading for the day. But if I were not finished, I'd be waiting for NQ to trade to 41.75 and watch or trade to 56 and watch. Either reverse or BO. That's just me.

ok.why do quit now?we got 3 more hrs?!?

 

[fortydraws]

I'm done trading for the day. But if I were not finished, I'd be waiting for NQ to trade to 41.75 and watch or trade to 56 and watch. Either reverse or BO. That's just me.

For example, I might have ventured a long here in the 43's stop in 40-41's, and take 5 at 48 if it gets there and hold the rest with a BE stop for a possible end of day run

 

[fortydraws]

why do quit now?

Because I can. Most days I plan on being flat and done by noon EDT. I find the best opportunities occur at 9:30 and then dry up on most days by noon. If you can make $200 or more per contract by noon, why sit there the rest of the day trying to make another $200 when you know most days you might not even average $50 per - or worse, you get chopped two or three times and your $200/per has been reduced to $0.

There is more to life than money and trading. Except from 9:30 AM - 11:30 AM. Then there is nothing but trading

 

[wiesman02]

Now that the fighting is all over, anyone think this is going to 2072 today ?

 

[fortydraws]

For example, I might have ventured a long here in the 43's stop in 40-41's, and take 5 at 48 if it gets there and hold the rest with a BE stop for a possible end of day run

That is based on price action, the day's range, where price is relative to that range and what it is doing there. All of which might be too much analysis for the OP, who is probably waiting for a MA to cross or a Bollinger band to rupture. I have absolutely nothing against indicators and those who use them. But to say that trading by price requires too much analysis is a betrayal of ignorance.

BTW, 48 just traded.