ES Journal - 2015

jl1575 said:
You need a retest of high and the confirmation of downtrend. What if the price keeps sliding down from here, or only bounces half way and resumes the downward movement?
More...

That is what your plan is for - to cover all these "what if's?" But the plan will be useless without the preparations to deploy it.

fortydraws said:
If a lower limit is to be found up here, then 00-12.5 +/-2 is where I'd expect one to be. If the market opened right now, I would be looking more at 10.5 for a potential LL and 35 UL, but that's me. I also would not be surprised to see price test 78 +/- 2. I do not usually trade before the 9:30 EDT NYC open and have no plans, as yet, to do so today.
More...

Or, you could just close your eyes, hit the sell button, and hope for the best.
 
fortydraws said:
That is what your plan is for - to cover all these "what if's?" But the plan will be useless without the preparations to deploy it.

Or, you could just close your eyes, hit the sell button, and hope for the best.
More...

Don't you think people have other systems that would identify trend initiation and termination, differentiate trend strength and trend quality that are different from your SLA?
 
jl1575 said:
Don't you think people have other systems that would identify trend initiation and termination, differentiate trend strength and trend quality that are different from your SLA?
More...

Don't misunderstand me.

1) My posts to Brian are meant to suggest to him that he might smooth his equity curve and take some of the mystery out of his relationship with the market if he were to study why his wins are wins and why his losers are losers and see if he can find some patterns that might help him plan to take trades under those conditions that produce his wins and avoid those conditions which tend to cause him to lose (understanding, of course, that some losses are unavoidable).

2) I do not mean to suggest that someone needs to adopt my plan or else. Far from it. There are many many many ways to engage the market that will lead to consistently profitable results. Even those who use SLA have trading plans that will differ widely in the particulars based upon individual preferences, fears, goals.

3) I do not belive that a random entry approach is a trading plan, nor do I believe that anyone has ever demonstrated that a 2% bet money management scheme with random entries will yield a consistent profit over the long run.
 
Last edited:
You must log in or register to reply here.
Back
Top