ES Journal - 2017/2018

[RRY16]

I feel whatever people do here, others agree or not, really helps us learn from each other.

Apparently, I don’t fully agree with what Buy1Sell2 did last week (keeping long in a down market/days), but I learned a lot from his trading. Obviously it worked for him.

Say, one can utilize a long setup and only looks for signals to long. Even in a down day/market there are usually some opportunities during bouncing back. In an up day/market you will hit home runs, as Buy1Sell2 did. And vice verse for a short setup.

Remember bulls make $ (even in a bear market) and bears make $ (even in a bull market). One just has to find a style that suits him/her.

In the Market Wizards series, there is one trader used only short strategy (a perma bear?) and made exordinary returns (I think over 20% per year). For example, in a bull market there are still bad companies/industries.

I agree with this but the op contradicts himself regularly, in general he’s not a contra trader. Best of luck.

 

[RRY16]

Real or not is not something I really care about. He posts in real time with stops and targets. Nobody else consistently does this.

Do you take real money trades off his posts?

 

[algofy]

Do you take real money trades off his posts?

I actually do on occasion.

 

[Buy1Sell2]

Nice week B1S2.

Thanks.

 

[Buy1Sell2]

I feel whatever people do here, others agree or not, really helps us learn from each other.

Apparently, I don’t fully agree with what Buy1Sell2 did last week (keeping long in a down market/days), but I learned a lot from his trading. Obviously it worked for him.

Say, one can utilize a long setup and only looks for signals to long. Even in a down day/market there are usually some opportunities during bouncing back. In an up day/market you will hit home runs, as Buy1Sell2 did. And vice verse for a short setup.

Remember bulls make $ (even in a bear market) and bears make $ (even in a bull market). One just has to find a style that suits him/her. For myself, I realized that I tended to oscillate too much between long and short during not so obvious up or down days, thus missing good trading opportunities and essentially acting like a sheep herding and getting slaughtered.

Last Friday was an excellent example. A bear would make good profit during the first half of the day and a bull would in the second half of the day.

In the Market Wizards series, there is one trader used only short strategy (a perma bear?) and made exordinary returns (I think over 20% per year). For example, in a bull market there are still bad companies/industries.

Correct. Excellent posting. One caveat--trend traders will make more money over the long haul by milking winners and cutting losses short. But trading against the trend, (and the very short term trend has been down), can also be profitable. I have shown this technique to some folks I know that only have 401k holdings and can only go long without a stop. Thus ,they can only counter-trend trade in a down market. Wouldn't that be a snoozefest in 2007-2009 waiting for the bottom and not being active at all? Truth is, there was a lot of money to be made on the long side during that drop. But you had to take a large risk for smaller reward and get out relatively quickly when it went in your direction.

 

[Buy1Sell2]

How many points did you net?

I already answered I thought.

 

[Buy1Sell2]

Real or not is not something I really care about. He posts in real time with stops and targets. Nobody else consistently does this.

You must be talking to someone whose postings I can't see I guess. Thanks for the kudos!.

 

[Buy1Sell2]

View on the markets----I do not believe that markets turn and fall on a dime into a bear market. Could this be the beginning? --Certainly, but I rather think we'll see a move back towards highs at least once before we would establish a new long term down trend if we were to do so. So, I believe that the long term trend remains up at this moment, but I will be looking for proper signals to show that that has ended. In the meantime, I will look for buy the dip opportunities and valid shorts. One must be very careful shorting markets that have perpetual long bias.

 

[algofy]

I already answered I thought.

Yes you did, I was replying to someone that u must have on ignore.

 

[Buy1Sell2]

Let's take a look at the 4 hr chart of Cash from a free website. I rely heavily on the 4 hr chart in my analysis, many times using it as my entry/exit chart.