ES Journal - 2019/2020

[Buy1Sell2]

Yo Izzy

Time to let the big dog eat

ok----Chuck Wagon?

 

[volente_00]

That's kinda the point. I don't reach for the fences, my holds are short.

Much more to be made in an RTM product from consistency instead of home runs.

5 points a week is all one needs to make 7 figures in ES

 

[volente_00]

Market flipped bear to bull at the close 1/4/2019 and has not had a lower high since. But some are a bit slow to let go of their beliefs.

Every sell off starts from a high

 

[vanzandt]

Energy and retail leading the charge.
Wait till tech kicks in next week.

Retail (consumer discretionary) is up on China... 7.2% in 20 days... that might be a good short play next week.

With all this green... CRM, TTD, WDAY, TWLO, ADBE, MDB are all well off their highs and red today. These high growth, high margin tech titans will put solid floor under the Naz and S&P. As stuff like retail pulls back, these will creep back up.

We are far from a bear market Izz. We may not go up much, but we're not going down anytime soon.

 

[Buy1Sell2]

Ok then, let's assume that tags are not. Let's look at this:





See, a part of you knows what levels are significant. And yet your trading as you present it here does not seem to represent that knowledge. If you know that below 91 the rally is bending or breaking, then why is the objective not to buy close to that level with a stop just below, rather than wing it with short sales willy nilly and hoping for the best? (though in this case I will concede that if I really wanted to be short, your entry price isn't bad).

I am a support /resistance trend trader first and foremost. This lends itself to my getting stopped out as I place my stops many times too close to those levels. However, I make up for it with big wins.

 

[volente_00]

Looking down the road, we've already had a great 2019. Trump and company are going to want a market crescendo in 2020. Thats gonna take some real earnings firepower from here.

I think we are going to consolidate at these levels for awhile. Let the economy do its thing. Let the spring coil a bit. Oil will stay high but not too high, then pullback to the low $50's in 2020 to give the consumer some "feel good" buying power yet high enough to keep the domestic sector alive and well. That's one thing Trump has some power over... all his Saudi buddies and all. I think he can move oil at will.

Thats my guess for now anyway. We'll see.

The 2019 bear market will be the shortest in history.

 

[NQurious]

I don't have time to get into a lengthy debate about this and maybe I misread, but I read about a 14 year old and an X-Box and making more money than you can imagine from one set-up only and thought it sounded bit too good do be true.

What I said, exactly, was that my son understood @speedo's system more quickly and easily than I was able to hook up his XBOX the first time.

Maybe it's just me. But I look at a chart with a method like @speedo's and the understanding and the how I'd apply the method are instantly visible to me. But then I read the reaction to his charts here of someone like esfocus and I realize that for some, perhaps most, the obvious is not so obvious.

Why is that?

What makes trading hard is not coming up with an edge. It is the refusal to define an edge, and then, even if one does that, most will be unable to trade it and only it consistently. But one can certainly make a very profitable operation from just one set up so long as it occurs with enough frequency to give one the opportunity.

 

[NQurious]

I am a support /resistance trend trader first and foremost.

Ok, but I don't see it from what you post here. In fact, that kinda describes me lol

I appreciate you taking the time answer my questions, B1

 

[volente_00]

ok----Chuck Wagon?

And I thought you said you were a golfer

 

[volente_00]

5 min hns objective is 88 from 95

Risk 2 to make 7