ES Journal - 2021/2022

[Laissez Faire]

You mean like I did last week?

Something similar, yes, but intraday.

I think trading needs to be aligned with the metrics of the market you're trading. So, if you're trading ES short term intraday, the market rarely moves 10-20 points without a good retrace.

So, get out on a limit or trail a stop aggressively behind price.

I would have done something similar as a swing trader.

Having a few entries go from + 10 to B/E as a swing trader is okay I suppose. + 150 points back to breakeven? Not so sure about that one...

Is this a good time to mention that having entered with 10 MES, exited 5 of them, and holding 5 more for scaling out 10 points lower on each one would be an awesome strategy (ie. +10, +20, +30, +40, +50)? Obviously the stop on these 5 would be set to BE, so maybe that will hit and your profit on the full entry at +6 would be profitable this time around. But since you feel so strongly about this maybe being the high for the week, those runners would have been awesome to have!

If I did that today, I would have netted half the profit I took going all in / all out. Also, I may not have been able to participate on that breakout higher as if I had the short trade on I might have held on to it, hoping. The market is always clearer when you're flat.

Point is, there's an added layer of complexity as soon as you start scaling out, IMO.

Right now, I think I'm just going to continue like I am, but as soon as I can add a few more contracts I may start looking at some scaling.

I'll probably jinx myself now, but today was my 15th gross winning day in a row. I say gross because 2 days were about $60 in the red after costs.

 

[Master Pu]

Something similar, yes, but intraday.

I think trading needs to be aligned with the metrics of the market you're trading. So, if you're trading ES short term intraday, the market rarely moves 10-20 points without a good retrace.

So, get out on a limit or trail a stop aggressively behind price.

I would have done something similar as a swing trader.

Having a few entries go from + 10 to B/E as a swing trader is okay I suppose. + 150 points back to breakeven? Not so sure about that one...



If I did that today, I would have netted half the profit I took going all in / all out. Also, I may not have been able to participate on that breakout higher as if I had the short trade on I might have held on to it, hoping. The market is always clearer when you're flat.

Point is, there's an added layer of complexity as soon as you start scaling out, IMO.

Right now, I think I'm just going to continue like I am, but as soon as I can add a few more contracts I may start looking at some scaling.

I'll probably jinx myself now, but today was my 15th gross winning day in a row. I say gross because 2 days were about $60 in the red after costs.

The subject has been debated to death on ET and other forums, just do what feel comfortable with.

 

[Laissez Faire]

Market's in a range.

I definitely agree with @schizo in that we might be stuck until FOMC.

Maybe a pop to 3920 to fill that gap.

 

[formikatrading]

In my case, I just didn't do a thorough enough job on my analysis -- that can happen when you have another job and other obligations.

Something similar, yes, but intraday.

I think trading needs to be aligned with the metrics of the market you're trading. So, if you're trading ES short term intraday, the market rarely moves 10-20 points without a good retrace.

So, get out on a limit or trail a stop aggressively behind price.

I would have done something similar as a swing trader.

Having a few entries go from + 10 to B/E as a swing trader is okay I suppose. + 150 points back to breakeven? Not so sure about that one...



If I did that today, I would have netted half the profit I took going all in / all out. Also, I may not have been able to participate on that breakout higher as if I had the short trade on I might have held on to it, hoping. The market is always clearer when you're flat.

Point is, there's an added layer of complexity as soon as you start scaling out, IMO.

Right now, I think I'm just going to continue like I am, but as soon as I can add a few more contracts I may start looking at some scaling.

I'll probably jinx myself now, but today was my 15th gross winning day in a row. I say gross because 2 days were about $60 in the red after costs.

 

[SunTrader]

I'm no Guru but it sure looks like a local bottom. The count implies a false break of the triangle then the launch, for MAXIMUM PAIN!

*edit- long 100 tqqq at the tip of this glorious little flag, and a limit for another 100 on the next line down

Corrective waves (2 & 4) overlap, not impulsive waves 1, 3 or 5. Other than wave 5 failure.

 

[Wide Tailz]

Yeah that fourth wave is super messy. Here is another count that partially explains it with a running ii wave. The small timeframes are always a little weird.....

 

[mervyn]

https://www.bloomberg.com/news/arti...s-passes-ominous-milestone-for-chart-watchers

The S&P 500’s long-term trend has turned “sharply lower recently,” and the index has closed below its 200-day moving average for 110 trading sessions, the longest streak since the bear markets of 2008-2009 and 2000-2002, according to Bespoke Investment Group.

 

[SunTrader]

Yeah that fourth wave is super messy. Here is another count that partially explains it with a running ii wave. The small timeframes are always a little weird.....

Not sure why you would be labeling an EW count of just RTH day session?

 

[schizo]

Short 3902.25

SL 3912.25

 

[Wide Tailz]

Not sure why you would be labeling an EW count of just RTH day session?

I'm starting to wonder that myself. One day I will be brave and open a futures account, and trade the thin overnight session like Jack Morgan.