ES Journal - 2019/2020

[trdes]

Nice. Got lucky on that move down prior to move up to exit some, but didn't cover all so caught again on some. I am still going to fight it. But I've lost 50% of profits so far and clearly on wrong side. I Think we can pull back to 11696-11706 though, so well see.

Question though wasn't it oversold on your system though when it was 70-80 points lower? Not trying to be picky, just that's the reason you gave, but the market was already up 70-80 points, so just trying to better understand.

Theres 11706ish. Ugly and dumb trade, but covering some here and back in control.

 

[trdes]

Maybe a bounce from 11696-11706. if so I am going to short into it again, just holding 1 micro left over from that bad trade earlier, that luckily turned into a winner.

 

[formikatrading]

That probably is a result of using longer-term charts -- daily, 4-hour, 2-hour for my primary determinations so overbought / oversold is relative. Also, I derive most of my signals at specific times using those charts so price may have moved beyond a high or low before I enter -- just the nature of that process.

Nice. Got lucky on that move down prior to move up to exit some, but didn't cover all so caught again on some. I am still going to fight it. But I've lost 50% of profits so far and clearly on wrong side. I Think we can pull back to 11696-11706 though, so well see.

Question though wasn't it oversold on your system though when it was 70-80 points lower? Not trying to be picky, just that's the reason you gave, but the market was already up 70-80 points, so just trying to better understand.

 

[formikatrading]

this is just the 2-hour chart but oversold is going to be a zone -- not an event. And I'm viewing this within the context of the daily and 4-hour and my cycles work.

Question though wasn't it oversold on your system though when it was 70-80 points lower? Not trying to be picky, just that's the reason you gave, but the market was already up 70-80 points, so just trying to better understand.

 

[trdes]

That probably is a result of using longer-term charts -- daily, 4-hour, 2-hour for my primary determinations so overbought / oversold is relative. Also, I derive most of my signals at specific times using those charts so price may have moved beyond a high or low before I enter -- just the nature of that process.

Ok, was just clarifying. If we go too much above 11740.00 I'll just have to cover and will end up losing a good bit of my profits. Otherwise looking for 11708.75 - 11718.75 range to cover some.

 

[trdes]

Ok, was just clarifying. If we go too much above 11740.00 I'll just have to cover and will end up losing a good bit of my profits. Otherwise looking for 11708.75 - 11718.75 range to cover some.

Damn 4 point away from 11718.75. Had to exit for a loss. Likely done for the day.

 

[Laissez Faire]

With the odds of a winning trade on the long side today, I give kudos to those brave traders who keep BTFDs. @Laissez Faire is one of these brave ones...

Thanks. Funny thing is that I used to be a perma-short when I first started out. I really loved to short. Ideally, a good trader is neutral in terms of direction, but I'll admit to finding it easier to go long these days.

 

[formikatrading]

Today is just one of those days you had to have a view of the big picture and then have conviction on it. If you had the big picture wrong for today, it would have been a frustrating day.

Damn 4 point away from 11718.75. Had to exit for a loss. Likely done for the day.

 

[formikatrading]

The short side is always logical because it often aligns with your feelings and emotions about what's going on. Trading the long side in this environment requires you to just trade what you see. This is my 999th post. I better wait to make sure my next one is epic.

Thanks. Funny thing is that I used to be a perma-short when I first started out. I really loved to short. Ideally, a good trader is neutral in terms of direction, but I'll admit to finding it easier to go long these days.

 

[Laissez Faire]

I'm long again from 33. If stopped, I'm a strong buyer below yesterday's LOD. Off to do something else now.

Stopped.

Didn't get a push below yesterday's LOD after all, but managed to get in long near the LOD anyhow.

I'll dedicate this trade to @SammyJ who thinks getting the big picture right is meaningless. LOL.

I'm locking in some here below 50, but I'm wishful that this can turn into a more profitable swing trade.

If it was a day trade - I'd trail a tight stop here behind price.