ES Journal - 2023/2024

[theapprentice]

I feel like a surprise move to 4310 could be on the cards, but i'm too pussy to trade it and don't wanna mess up a very good day. Mainly just based on how everyone seems bearish so a contra play on a Friday lol.
But yeah, flat and staying flat for the day now

4300 was as good as they could manage

 

[Cessna06P]

4300 was as good as they could manage

Yes 4300 has been quite the magnet lately, can't venture too far from it either way. But the daily is clearly in a downtrend. Personally, I will be surprised if we see 4400 anytime soon.

 

[Buy1Sell2]

Huge move imminent!

5 minute trend is now up.---Using stops as usual.

Yep

 

[jl1575]

5 minute trend is now up.---Using stops as usual.

Now it is very clear that you are the one to get the direction right. It is up about 55 handles since your post. Probably you looked at the bigger picture.

 

[jl1575]

Market is always intriguing and surprising; that is what makes it so fascinating.

 

[jl1575]

My account was down about $3000-4000 in the morning, but now it is in green for more than $3000; luckily, I did not do anything but sitting idle (longer term stocks).

 

[Buy1Sell2]

Now it is very clear that you are the one to get the direction right. It is up about 55 handles since your post. Probably you looked at the bigger picture.

I always look at a combination of time frames. Thank you

 

[Buy1Sell2]

It will take the weekly quite a bit more time to resolve itself to continuation up. The festering of the pullback in uptrend continues.

 

[jl1575]

Wow, that is more than 90 points swing up from the bottom this morning.

 

[BeautifulStranger]

I really appreciate the trouble you and the others go through calling your trades. Seeing the chart after the fact just isn't the same as watching the trade develop in real time, seeing stops moved, and trying to reason out why @theapprentice, @Spooz Top 2, and everybody else took their trades as they are happening. I'm an experienced swing trader but beginner day trader and while I would never copy trade anything I see here since that's not a valid approach to learning, being along for the ride is very valuable. Obviously none of you guys owe me anything so if the posts interfere with your groove I completely understand. Just know that when you do get a chance to post on the spot it is appreciated.

Pleased to meet you, Mr. Axon. You have written code to profitably exploit a market place inefficiency, You have managed your portfolio exposure using short term adjustments. You are a deca-millionaire. You are not just a consistent, very profitable trader, but seem to be a world class trader. Your like to post ratio kind of gave you away.

I can be best described as a casual retail trader. At best. For what it’s worth, I would be happy to fulfill your request. Or at least try.

The following is a guide to what I’ll be thinking about before making a scalp. I divide the trading day into five parts for the US session - Premarket, the open, morning, lunch, and afternoon. Some specify the close. as well. I start the day attempting to assess trader appetite for risk based on relative performance of various asset classes. I will assess if there seems to be a general (macro) theme in play, such as economic, monetary, or geopolitical. I also note how the “Magnificent Seven” are performing. The point of this exercise is to determine how much exposure and what levels I will look for when placing trades.

I follow several rules for entries and exits, depending on what part of the trading day we are in and how I assess price action. I take trend, trading range, breakouts, and reversion to mean trades as conditions warrant. I will provide more specific information as I place orders for my trades in the coming week.