ES Journal - 2015

gonna be one of those days, lol. Came within spit of my target again and has turned around quite fast. looking like another stopout now.
Should have taken +5 or so on this one when it was offered, considering my stop was so small.
 
Few folks asked how I play reports, I wait for initial action and waiting for it to go other way. Often times this happens to trap the inexperienced on wrong way, NOW it is funny, but learning years it wasn't.
 

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gonna be one of those days, lol. Came within spit of my target again and has turned around quite fast. looking like another stopout now.
Should have taken +5 or so on this one when it was offered, considering my stop was so small.
45-55% based on original entry for me is breakeven plus 1 tick, I designed method to have this happen cause I average down on each trade, so ever tick better is then +2, +3 etc. But you get so close, it is a crime to not get at least a tick, there always be another trade. Some days all I get are 4-16 trades of one tick, it adds up, 4 points less fees, I concentrate on Capital Preservation and not profits.

Good trading all.
 
I don't get what's the big deal with SLA either, just by saying they have a plan in advance, yet don't know whether they will be buying or selling is pretty much just a fart in a wind. When price breaks their lines a lot of the time there will be momentum and slippage at the same time and momentum doesn't always last, as we know. Now, it would be systematic, since they like mechanical approaches so I gather, if they said buy breakout with stop few ticks below support TL or range's low.
ES is an animal that mostly under 60 minutes likes to mess with trendlines, it breaks and gives you slip then it waffles around. I prefer the trendline break-retrace providing it a strong enough break, meaning it finishes strong and then go back into the waffle area, price comes back to get in. There is a reason why price retraces like this, to screw the inexperienced. They nail the retail trader on the breakout, they under capitalized and use tight stops, so market comes back against them, so get out at breakeven and others takes a loss where I am getting in, market starts in my direction, at some point those just got out jump back in on emotions to propel enough for me to get two points and I get out only to watch it often come back down to Screw the inexperienced. I luv this game.

Game time
 

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Crap pre-market with the market teasing me, coming close to my targets and then turning around and stopping me out.
After US open (14.30 my time) lost out of the gate with a short, but then caught some of the up move and then a very nice down move.
Up about 12 points on the day and calling it a day
 

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