ES Journal - 2019/2020

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Laissez Faire said:
There's many ways to skin a cat. Nothing wrong with predicting if you actually have a valid way of making such predictions and with a certain amount of success. Just looking at a chart and saying, "This looks like it's going to go up", is not very likely to be successful, unless there's a specific pattern associated with that.

In the end - it's all about probabilities and nothing works all the time. So it's of course very important to have a flexible mindset and not get locked down in a specific bias/outcome and ignore that the other one is actually taking place. Easier said than done.

In the end - every trade is a prediction as you expect price to go in your favour.
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Yes every day we all predict . But many people have the fallacy of predicting out many days or the next day. Like yesterday we heard many 2700 or 2650 predictions because of the bad close and after hrs . That clouds your mind for trading.
 
hafez50 said:
Like I said yesterday the mkt twists and turns us . We had a bearish close yesterday and we got the 2600 -2700 calls yet again . We hit 2755 last night and I see we hit 2807 which now negates all that negativity . We refuse to let go in the face of the worst Econ in history . So based on yesterday’s close and last night the right move for today was certainly bearish . But poof no now it has more of a bullish tint . A trader wakes up every morning and assesses the mkt daily .Theres no room for prediction as it slants your trading . Let the action of the minute guide your trading . Most went to bed with a bearish mind set. To be a successful trader your mind must be blank every morning ready to scope the present landscape . A trader doesn’t predict events he reacts to events . Hell I could sit here 50 times a day and put long 95 stop loss 87 target out 93 trade didn’t feel right and be accurate 90% of the time . You’d say wow Hafez 50 is an incredible trader let’s follow him . Then I stop posting and your lost . Or you can learn principles of trading conform your own trading plan to your personality and become a trader for life .Thats why 95% of traders fail . They let predictions and emotions guide there trading . Most traders are flat at days end so why predict and cloud your mind ?
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hafez50 said:
Yes every day we all predict . But many people have the fallacy of predicting out many days or the next day. Like yesterday we heard many 2700 or 2650 predictions because of the bad close and after hrs . That clouds your mind for trading.
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So to summarize:
- most traders fail because they trade their opinion instead of using technical analysis
- learn to fish instead of depending on others fishing for you

Also in the news today - shockingly water is wet!

:rolleyes:

Are you capable of posting constructive posts that don't have a negative connotation? Starting to wonder...
 
Long 07.50
chasing a bit, didn't get filled 3 [Edit: 2] points lower
Stopped out -1

Wow, choppy opening
 
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Picaso said:
1) Gap close and bounce up?
2) We keep dropping like a brick to overnight lows?
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I'd lean more towards scenario 1.

Hard shakeout of longs before continuing higher on the day.

EDIT: Let's see if we take out yesterday's lows on the cash index, possibly causing some follow-through or rather some artistic stop running.
 
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You guys are gonna be trying to predict the algy's today.
I think the whales' super-computers are in the trench warfare mode at the present.
In the absence of any bs headline news... its gonna be a tight range.
Chop chop.
Don't get chopped up.
A good day to be a Schizo style trader. Just grab a few points.

Where's Mr. Magoo? He should be touting a new long position. Perhaps he's wised up a bit.
 
vanzandt said:
You guys are gonna be trying to predict the algy's today.
I think the whales' super-computers are in the trench warfare mode at the present.
In the absence of any bs headline news... its gonna be a tight range.
Chop chop.
Don't get chopped up.
A good day to be a Schizo style trader. Just grab a few points.

Where's Mr. Magoo? He should be touting a new long position. Perhaps he's wised up a bit.
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Thanks for the pointer.

I think B1 is busy drinking bleach while he gets some UVs :D

Just kidding, stay safe B1!
 
vanzandt said:
Where's Mr. Magoo? He should be touting a new long position. Perhaps he's wised up a bit.
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Picaso said:
I think B1 is busy drinking bleach while he gets some UVs :D
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My question is... is he searching for his ball or the $$$ he had allocated to CL? :p :banghead:
 
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