a drop back into yesterday's range (the top of it) doesnt destroy that premise
ES Journal - 2021/2022
- Thread starter Buy1Sell2
- Start date
a drop back into yesterday's range (the top of it) doesnt destroy that premise
Seems like a nervous market. Nobody wants to show their hands.
I'm anticipating a 4221/4222 print from here. Not sure what more.
Yesterday was a big day up. So might not get that much more today. Let's see.
Tough day. Just churning my account so far
Yeah. Yesterday was easier.
I use wider stops these days. If not - I would have taken a few pops at the Open. Actually, I did anyway.
I was thinking ATHs later this week. On the other hand - ATHs today could be done with less than 1 % daily change, so wouldn't really be a biggy.
I suppose the key is to see if we can clear the 4220 level and unlock some buying there.
I suppose the key is to see if we can clear the 4220 level and unlock some buying there.
i'm not gonna lie, I've been having a lot of trouble over the last 2 weeks with direction. Been really widening stops also, and sometimes that doesn't even work. Super selective with shorts now. Had I not shorted this AM, I'd be up a good amount
Not a seller in sight so far.
Short near overnight high could still work today since powell testifies.
if we still in this general area my system wont let me
That's interesting as I'm on a really good streak now. I think it's the 10th day in a row making $$$ today. Some changes I've been doing:
1. I scale into a position. Preferrably, I'll add to a winner, but as long as it's not done recklessly, I'll add on falling prices on a long, too.
The key for this though is that I will always start the day with my smallest position. That way if I lose 10 or 15 points - it's easily made back +++ if I take on more contracts later on.
If I can take 10-20 points on one contract. Great. If not, I can take 2-4 points on 5 contracts.
2. Taking profits and not squeezing every single tick out of a trade. For example right now, I flattened all longs @ 22 on a trailing stop even though I know there's a chance we'll keep grinding higher.
I've mostly been an all in/all out trader in the past and it can be challenging. Particularly on an instrument like ES with today's Open.
Not sure if that's helpful, but it's been very beneficial to me. Note: With wide stop I simply mean a stop that's wide enough that it's not taken out by normal counter moves. I do not like to use more than 10 points, but I have used 10-15 points if my size is small.