ES Journal - 2019/2020

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speedo said:
This place LOL
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We are all one big happy family ...

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hafez50 said:
An example of scaling was 12:05-12:15 eastern. I started scaling at 2505-2512 or so. Avg was 2510 or so. I increase my scaling as we go higher. Lets say i do 3 at 2005. I'll do 5 at 2509 and 10 at 2512. So my avg is 2510 or so with a stop at 2520. Understand many times i'll trade the last entry like 2512. So if we pull back to 2506 i'll cover the 10 and reshort the 10 if we pop back to 2510-2512 thus that allows me to bring the total avg up in price . Once i feel the top is in i'll hold the whole trade for 5-10 pts . It all depends on how big the drop was and what type of day were in. If its very bearish day and the bounce is huge i'll hold the trade longer and try to get 20 pts. I adjust my trading to the type of day i feel it is. I never ever go into the trading day expecting a certain type of day. I try to gauge the sentiment i feel the mkt is oozing out that day. It hard to explain . i've been trading the mkt so long i can feel the sentiment. Just like when we get to a round # like 2500. 90% of the time we break threw it and run 5-7 pts very quickly . I'll try to capture those type moves . I have so many ways to trade i analyze the action and semiment all the time. Again everyone must get there own trading style that suits them.
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Trailing in and out is the way to go. The market trends and reverts roughly 50/50 of the time. This is a good way to do it with proper stop and risk management.
 
hafez50 said:
From the mid 90's on i traded prop with Assent, Genesis and Etrade pro( Became light speed) . Back then i got them down to .11 share plus ecn fees . Some months i was trading 20 million shares . In 2008 i spend like $370k on commissions which included ecn fees. In the old days when they only send paper 1099's out ups had to deliver the boxes. One year i recall have over $4 bil of sales. I used Mtm accounting and 1 line entry. I used to use Green trader to do my taxes.
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Appreciate your play by play on the trade...I miss some oppty's only doing 1 lot(or 2 at same time)...this is like on/off or black/white..I have many hours observing and few taking action in this particular mkt and experience too much indecision..not having to be perfect on an entry will probably help - starting with 1-1-1..will let you know how it goes!
 
BeautifulStranger said:
This week I had a load from Laredo to Salt Lake City that took me through the Permian basin. I saw a lot of flares in this area of Texas and New Mexico as well as Friday still decent evening local traffic. I also saw lots of oil field company yards full of equipment. A lot of hands on jobs are in trouble as well as jobs of those in supporting industries. In most of the big, expensive coastal states, it is said many homeowners are just one month from missing a mortgage payment if they lose their job(s). I understand the risks to our economy but believe the very smart people in Wall Street, the Fed (Same thing, nowadays?), motivated President, and a spend happy Congress realize this as well.

The question is, is the Stimulus pipe big enough to get all that is needed for our economy in time to avoid an implosion? Will be looking at commodity prices and policy answers for addressing rapidly mounting job losses as a clue.
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Its not what they do now... its what happens after the dust settles. Anyone can print money. For all things in this world Max... there exists a ying and a yang. There's no free lunch. Call it physics, call it whatever. All I know is ... "for every action there exists...." .... fill in the rest and save me from being trite.
 
Bingo it relieves the pressure of having to be "spot on" . The key is laddering up and down constantly taking positions off and on .Trading is an emotional game because money is emotional . Controlling your emotions is the key to winning in trading .
 
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