ES Journal - 2015

[artemstreb]

i shorted 2047.75

exit 2045.75

 

[Buy1Sell2]

I believe the reason that your short trade didn't work Builder is that the 1 minute chart was not overbought at the time you entered , while the 15 and the 5 were recovering from medium to strong oversold conditions. At that time, I think it would have been better to let the bounce on the 1 mature. --and then short it with a closer stop.

 

[Brianharvey]

L 4289.5
stop at 85

 

[Buy1Sell2]

Stop out now is either 2055 or a long reversal signal on the 1. Whichever is first. If you are an advocate of getting at least 6 points on a 1 min chart signal, profits could be taken now.

 

[Buy1Sell2]

Long reversal signal has occurred on the 1

 

[Buy1Sell2]

I am not on ET all day or looking at the charts all day as I trade the Daily as my entry/ exit chart and use the Weekly and Monthy for the greater direction. I hope you have been able to see a little more here about how I approach trading.

 

[dbphoenix]

I am not on ET all day or looking at the charts all day as I trade the Daily as my entry/ exit chart and use the Weekly and Monthy for the greater direction. I hope you have been able to see a little more here about how I approach trading.

Actually, not. Perhaps you could post your charts in advance so that your followers could discuss them with you.

 

[artemstreb]

Actually, not. Perhaps you could post your charts in advance so that your followers could discuss them with you.

perhap YOU might place trade rather chart?

 

[dbphoenix]

perhap YOU might place trade rather chart?

I did. 0600.

 

[Buy1Sell2]

A further word on Risk management. Let's say that I have identified a trade where an 18 point stop off the daily is required (my current short) . And let's say my TLNW is 50k. This means that I can risk 2 percent of that 50k or 1000 on this trade. This would include commissions. So, I can risk between 19 and 20 points on this trade if I am trading just one contract. If the stop that I place outside the noise would have been 21 points, then I could not have taken this trade. In addition, until I close the trade, I do not count any of the profits as being in my P and L. Rather, I only count the loss and I consider that money gone. With that in mind, I never re-calculate my stop as being 2 percent of a new number with unrealized gains added in. It is always calculated off the entry point. New trailing stops are simply placed according to market noise.