ES Journal - 2019/2020

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NQurious said:
This may be the massive double or triple top sell signal that many no doubt think it is, B1, and I am short for a swing - but I'm looking to cover today, tomorrow ... soon. I doubt this gets any lower than 2850, and even that is likely pushing it (I'm thinking 2900 +/- down to 2870's).

Anything can happen, but if you are itching to short, why not wait for the next rally. Better yet, take your bias down for a moment and maybe enjoy some easy bull chips on the next rally. It is a bull market until it says it isn't - nothing you or I or anyone else can say to make it otherwise.

Good luck!
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That signal has already occurred . It's just a matter of where the stop would be.
 
ICU @Buy1Sell2

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NQurious said:
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No argument here ... and I think that pulling stops and excessively large stops in general indicates a poor edge or even lack of edge. I shorted ES on Monday for a 3-5 day swing, it was a poor, late entry but I still only needed a 20 point stop and no need to pull it - if it is hit, I want out. In fact, the only time I pull a stop overnight is when it is the first day of the trade and I have a great entry but the market closes within .5 ATR of the stop ... as you know there are high odds of an overnight tick fvck under those circumstances.

EDIT: Even in those case I will have a stop in the market, but it will be large enough to prevent me from losing my position during normal S/R probes.
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The desire to be "right" can overwhelm the impulse to act in self-interest.
 
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