ES Journal - 2023/2024

Laissez Faire said:
It's been a lot lately.

Still low trading frequency. Most of the time I'm just trying to get in a position (like today's entry) and I will just watch the market from my cell phone and make adjustments if needed.

My trading hours were more limited when I used to scalp or take shorter targets, but it seems like if one wants to take those larger moves one may need to be around more.

How about yourself, @Picaso?
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Thank you, I'm just a tiny bit worried for your health :D

I did try day trading all 3 sesssions* (with breaks) when I was on a sabbatical, because hey, triple the opportunities, faster compounding, right?, but it totally wrecked my nerves.

*Actually 2.5 (two sessions and one open).

Now I have to give priority to my day job, so I'm only swing trading the US session, even though I will sometimes put on positions after hours.

I don't want to slave away all day in front of a screen, so like you I'm moving to longer timeframes (hours for futures - unless stopped out, weeks or months for stocks). My idea(l) is to make money while I sleep :D

But with the recent volatility and political upheaval, I'm checking the markets from the moment I wake up (still in bed) to the time I go to bed, so not so great, I feel like I need to disconnect some more.
 
Picaso said:
I don't want to slave away all day in front of a screen, so like you I'm moving to longer timeframes (hours for futures - unless stopped out, weeks or months for stocks). My idea(l) is to make money while I sleep :D

But with the recent volatility and political upheaval, I'm checking the markets from the moment I wake up (still in bed) to the time I go to bed, so not so great, I feel like I need to disconnect some more.
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I hear you...

In a way, I find trading for larger swings more stressful than scalping where you're quickly in and out and the trade is over.

Right now, I'm nearly 20 points in the money from my original entry. Do I take it? Is this a pullback or a reversal? Do I trail? Do I hold? Always some decision making going on.

Personally, I feel the markets are very attractive at the moment, so I'll see if I can strike that balance in life further down the road. :)
 
Getting ready to kill that long around 72/73. If we push back up to 90 going into the release I will probably just hold it and take my chances.

Even if that news release sells down to 5560/50, I would think that's a new good opportunity for a long.

Last month's release only saw a 6.75 point spike down before moving higher (temporarily). Maybe we'lll see something similar today. I doubt we'll see a huge reaction down, but you never know...

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23 points in the money! Maybe the sensible thing is to take it. But I know very well this have a very high chance of exceeding 5600 in RTH and that's even more points.

Decisions, decisions...

I can secure a very decent up day right now. Or hold for a potentially huge day. Always a trade off.

I wouldn't hold a trade B/E into such a release, but with a good cushion. Maybe... :)
 
Muted reaction. Still holding.

The market also likes to rally into NFP on Friday. Not always. Just more often than not. :)

Overall I see a lot of stuff lining up to suggest this continues into NFP at least. 5640 or more by week end.

I could be dead wrong. That's what stops are for. :)
 
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