ES Journal - 2017/2018

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Pekelo said:
Let's keep the time frame talk to a minimum, shall we? The obvious place was to be short in the last few days, no matter what time frame you use.
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Time frame is a big determinant on how much leverage I use. I use 10 times leverage on intraday trades.
 
I bet we trade below 2750 at least. Held a short from earlier that I took out on this retrace back up to 2761. Too nervous to risk a bottom forming here with money on the line. But if my pockets were deeper than they currently are, I'd hold my shorts to the close today.
 
I don't have any clear targets below. Seems like round numbers are likely, i.e., 2740, 30, 20, 10 and finally 2700.

2% down at 2736,50.
3% down at 2708,50.

Currently down only 1,3% or so, so no big deal yet. This could be it. I have no conviction either way, but the path of least resistance remains down for now. If I were to bet, I'd say we're just retracing now before another round of selling.
 
Buy1Sell2 said:
I'm on a different time frame than most. Market looking very strong here longer term. --Izzy
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How about now? 200 points off the highs. You had a 150 pts stop loss (that is some skill to "trade" with such stop loss) and you over rode it when proved wrong.

The sum of your last 2 trades currently is 169-116= -53 points, and that is for holding for 4 months....

Oh wait, while I wrote this short post the market dropped another 7 points (at 2733) so make it -60 pts.

Record keeping for journal integrity purposes...

Edit: I promise not to keep editing but below 2720 now...
 
Another amazing day in the markets. I feel like an amateur only taking home 10 points of profit (per contract) on a day like this. I find myself playing a bit too defensive and afraid of holding on to my convictions.

I'm sure tomorrow will be just as volatile. At a glance, I have a 3/5 chance prediction of a solid down day tomorrow as well with what I currently know. Assuming we don't open heavily gap up.
 
Laissez Faire said:
Another amazing day in the markets. I feel like an amateur only taking home 10 points of profit (per contract) on a day like this. I find myself playing a bit too defensive and afraid of holding on to my convictions.

I'm sure tomorrow will be just as volatile. At a glance, I have a 3/5 chance prediction of a solid down day tomorrow as well with what I currently know. Assuming we don't open heavily gap up.
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“If you know the enemy and know yourself, you need not fear the result of a hundred battles.
If you know yourself but not the enemy, for every victory gained you will also suffer a defeat.
If you know neither the enemy nor yourself, you will succumb in every battle.”
― Sun Tzu, The Art of War
 
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