ES Journal - 2017/2018

[JSSPMK]

You may recall that I only use hard stops during regular trading hours. I do this because the market is too thin outside of RTH and your stop can be taken out without regard to what is actually happening in the market. --And this is a classic example of why I employ this strategy. 2349 never traded during RTH. Thank you for the question--Izzy

It was a gamble. Sell offs never started in the past outside RTH?

 

[Buy1Sell2]

It was a gamble. Sell offs never started in the past outside RTH?

This is a long term odds game. History and experience have shown me that unless day trading outside of RTH, stops are somewhat meaningless to what the market is actually doing . Reminder--cash rules futures. ---Please look back at action afterhours during London bombing in July 2005 for evidence of what I speak of.---

 

[bigsnack]

It was a gamble. Sell offs never started in the past outside RTH?

I would feel confident in saying that there hasn't been a globex selloff that didn't setup in RTH the day before.

 

[JSSPMK]

I would feel confident in saying that there hasn't been a globex selloff that didn't setup in RTH the day before.

Are you confident in spotting all sell-off setups?

 

[JSSPMK]

This is a long term odds game. History and experience have shown me that unless day trading outside of RTH, stops are somewhat meaningless to what the market is actually doing . Reminder--cash rules futures. ---Please look back at action afterhours during London bombing in July 2005 for evidence of what I speak of.---

So what you are saying is that no selloff has ever started outside RTH?

 

[Buy1Sell2]

So what you are saying is that no selloff has ever started outside RTH?

An absolute?--No idea----but what I'm saying is that over the long haul, I do better by not having a hard stop outside of RTH.

 

[JSSPMK]

An absolute?--No idea----but what I'm saying is that over the long haul, I do better by not having a hard stop outside of RTH.

That's clear enough looking at stock market performance over the last 100 years, but that's not reeeeaaaalllllyyyy short term trading based on your own criteria set out in this journal

FWIW there were selloffs that started outside US RTH, whether they were selloffs is a matter of perspective of course, some would have called them buying opportunities, others would have referred to them as blips & others would have jumped.

 

[arbuckletboone]

Long 2420.5
(adding to winning position, like they say to do)

I see us going to 2500 rather soon

 

[theapprentice]

Seems almost unfair how easy it is to make money in this market for a long time now! haha
my neighbour started trading some time back and his 'system' is to go long when the RSI o the 5m gets oversold and then too add to the position every 4 ES points or so in the unlikely event it goes against him, and he's making bank! I want to get involved but worry about being 'late to the party', but the fact that i'm worried about that probably suggests that the good times will carry on for a lot longer yet!

Hope you're all killing it. Stay away from them shorts!!

 

[Michael.jstocks]

^^
Join the party! Any pullback will be relatively small. No more than 50 or so ES points, and we have much higher numbers to hit over the coming months. 2530 maybe?