ES Journal - 2015

Thanks for the post bigsnack. I'm also an engineer and the hardest thing for me was to stop trying to figure out why the market does what it does and just go with it.

And art - the day you contribute something positive in here instead of snippy posts and browbeating will be a notable event. "I longed NQ" when the market is dropping like hell is not a positive.
 
Autodidact said:
Slight modification.

Long NQ 4314.50 limit, stop market 4300, size divisible by 5 with three targets, first and second above 2015 highs, third above all time highs.
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Cancelled the swing, daytraded instead, trades too fast to post here.
 
Tech Analysis said:
Thanks for the post bigsnack. I'm also an engineer and the hardest thing for me was to stop trying to figure out why the market does what it does and just go with it.

And art - the day you contribute something positive in here instead of snippy posts and browbeating will be a notable event. "I longed NQ" when the market is dropping like hell is not a positive.
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You are so right. There was only so much market "engineering" I could do. Eventually I had to accept that I can't decipher why everything is happening, but that it didn't matter either way. As long as I could find an opportunity to get long below the open, who cares! :)
 
Funny, snack, your story is similar to mine. I closed my engineering firm about 12 years ago due to economics and had a small kid to raise so I chose something I could do from home as a side job. Well now it's my only job, the wife is gone but the kid is still here and it still works great. Plus, as you stated, most days we're out of here before 9 (AZ/Pacific time) and can basically do anything the rest of the day or try to pick up table scraps in the last hour.

Being of a technical background all I could think of back then was "Why are they buying? The PE ratios are at 200:1, half the companies don't even report positive earnings yet stocks are at 52-week highs and yet we go up." No logic in this gig - none! Then I decided to ignore logic and the why's and concentrate on price and the how's and how to capitalize on it and here we are. I discovered charts and TA and love it.

Your trading sounds a lot like mine, plus let me add there's almost always a reversal at 6:50am - be aware of that as well. I also stay away from news at 7 etc. Sometimes they buy good, sell bad, or buy bad and sell good. You have a fiddler's chance of being right with these cats comes to news reactions LOL.

Good trading to you.
 
Yeah, I avoid the first 7 minutes because I have been burned so hard in the past trying to just buy "support" and getting steamrolled on that opening range extension. Now I wait for that for that first push to work itself out, and then I look to see how the open print is going to come into play. I'd say that overall the open print is the most important price for me. I base so much of my analysis on it, it was one of the biggest positive shifts in my performance when I really started paying attention to it.
 
Tech Analysis said:
Thanks for the post bigsnack. I'm also an engineer and the hardest thing for me was to stop trying to figure out why the market does what it does and just go with it.

And art - the day you contribute something positive in here instead of snippy posts and browbeating will be a notable event. "I longed NQ" when the market is dropping like hell is not a positive.
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I genuinely thank Bigsnack for sharing a bit of knowledge for free with the journal, that goes without saying.

However, your comment about buying NQ when the market is tanking imo is out place, it all depends on the traders style. In fact a trader trading the monthly or quarterly bars could be buying even averaging down when the market is full of fear and days are plotting red bars closing at the lows; in time those entries during fear could prove to be great ones.

Not everyone is a daytrader, some even daytrade and swing, myself included.
 
Auto, that guy causes nothing but trouble here by instigating and irking people and calls everyone childish names. I had had enough. I see his latest crap has been modded out so hopefully we can return to normalcy here.
 
Tech Analysis said:
Auto, that guy causes nothing but trouble here by instigating and irking people and calls everyone childish names. I had had enough. I see his latest crap has been modded out so hopefully we can return to normalcy here.
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Yes I noticed he is a troublemaker, I got him on ignore, and totally understand your frustration.
 
Last edited:
--03/23/15 Mon. Afterhours PM. Short 2095.50. Initial protective buy stop is 2113.00 basis June
--03/24/15 Tues. Afterhours PM. Price is 2084.00. Stop will remain the same. Not enough movement yet for stop to be lowered.
--03/25/15 Wed RTH. Price 2058.50. Will stay short for now. Same stop. Will be lowering stop soon.
--03/30/15 Mon Afterhours PM. Price is 2071.50. Staying short now. Have not changed stop yet.
--03/31/15 Tues Afterhours PM. Price is 2042.75. Staying short for now. Same stop at the moment.
--04/03/15. Good Friday close. Price is 2039.75. Still Short. Price has not moved enough yet to lower my stop. I had thought perhaps I would have had a chance to lower it, but not so far. Stop out levels would all be in the noise.
--4/07/15 Tues Afterhours PM. Price is 2068.25. Lowering my protective buy stop here to 2086.00. Downtrend has shown no continuation but the bounce has stalled here. I am lowering my stop to a point just outside the noise.
--04/09/15 Thurs Afterhours AM, Price is 2073.25. I was not stopped out on Wed. Will keep stop the same for now.
 
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