ES Journal - 2015

[Brianharvey]

tempted short, but I think we're still in a range, so I shouldn't be trading here until we touch an extreme?
Taking Dog for a quick run! back in a bit

 

[wiesman02]

tempted short, but I think we're still in a range, so I shouldn't be trading here until we touch an extreme?
Taking Dog for a quick run! back in a bit

What market are u talking about ? ES has been in a nice downtrend since Euro session

 

[Buy1Sell2]

--03/18/15 Reversed long at 2077.50. Loss of 18.25 pts. Ihave entered a sell stop at 2050.00 to reverse and be short.
--03/19/15 RTH Raising reversal sell stop to 2079.00

 

[dbphoenix]

tempted short, but I think we're still in a range, so I shouldn't be trading here until we touch an extreme?

We did that at 1023.

 

[Buy1Sell2]

Longs can be initiated above 2092. Tight stop related to your account size and market noise would be appropriate as usual.

 

[Brianharvey]

We did that at 1023.

yeah, I was watching it then, but it was still 2 points away from the globex high.

 

[hitchslap]

here's how you should have traded it.

 

[iloveoptions]

--03/18/15 Reversed long at 2077.50. Loss of 18.25 pts. Ihave entered a sell stop at 2050.00 to reverse and be short.
--03/19/15 RTH Raising reversal sell stop to 2079.00

Why the short leash on your trades all of a sudden? You usually put a 40 point stop or so? I sense fear and indecision on your entries. The eratic market moves are messing with your decision making process it seems.

 

[dbphoenix]

yeah, I was watching it then, but it was still 2 points away from the globex high.

Depends on how you define "extreme". Is it an absolute line or a zone? Does how price behave when it approaches that high matter?

 

[Brianharvey]

Depends on how you define "extreme"

Yeah, I guess so. Most of 40's trades from memory showed price piercing the actual high/low from memory.
If I start saying '2 points away is close enough', i'll then soon start saying, '3 points is close enough' and before I know it, there'll be absolutely no point in drawing a range anymore!

Does how price behave when it approaches that high matter?

Probably. Althoug I can't say I saw any obvious clues in the Price action that price wasn't gonna make it to the actual line