ES Journal Archive (2006 - 2008)

[tiddlywinks]

Quote from JimmyJam:

So long as the channel holds, the counter-trenders are going to make their money.

For example, when it breaks to the upside, there's no point in trying to initiate shorts (like I was doing last week), because the market will then start to enter trendmode.

Same thing to the downside. IF this Long holds, it should be good until at least 1458 or so (of course this game isn't going to last forever), but when the market wants to actually start trending, it will usually warn you (usually, but not always - ).

JJ

Channel thesis is OK. But consideration of other realtime data is missing, such as range expansion, previous price consolidation levels (minor intraday s/r), and volume. Any one of those (and other items) should have kept you from picking a bottom based on some line you draw on a chart.

 

[apex82]

Quote from apex82:

not trading to heavily due to the volume. But this is what I am looking at. I am short from 1457.50-.75 stop at 1461.25. I will be adding on at 1460.25 with a 2 point stop. Looking for a move down to 1449.50-1446 before we get the next decent bounce. I will probably need to hold overnight. I will however be holding some runners short if I am not stopped out for a homerun. We have the possibily of getting another huge decline from this zone so I want to leave some exposure in case it happens.

The ideal short would be at 1460.50-1461 with a 2 point stop and go for a nice winner. I just have some other things that are putting me in a little earlier.

This is trade is countertrend, but meets my criteria therefore its a reduced size trade.

Posted this on monday.. Now taking profit 2 here at 1449.50 for a 7 point gain. Still holding short one unit for a homerun if this breaks below 1446. A nice buy would be at 1446 with a 2 pt stop and go for 10-20 pts. I will be taking this buy on another account.

 

[Brucelee]

Short Term Trading
April 11, 2007, 10:54 am EDT


3rd flash update S&P trade
Take profit in your s&p right here.
last tick - 1449.50

be sure to cancel your buy stops

 

[wave]

Quote from wave:

The trade from 1451 gave it all back if stops were not trailed down to 1444 area. The opportunity to go long was there at 1444 as well and stops outside the noise have kept you in this long. A new short has setup from here upward with stops @ 1459.50. Targets still 1435 downward on short side.

I am waiting for a proper area to trail my stop now and also looking for the proper area to have a long position on. I have no clue what it will do, just position myself to be there whichever way it breaks and hang on for a nice run. Lose a little win a lot.

 

[Lance Carson]

Quote from Brucelee:

Short Term Trading
April 11, 2007, 10:54 am EDT


3rd flash update S&P trade
Take profit in your s&p right here.
last tick - 1449.50

be sure to cancel your buy stops

Can't do that , Short 1458

 

[Lance Carson]

OK you talk me into it, Out flat 1448 +10 pts per contract

 

[wave]

I am looking to position and hold short positions to 1375 and will initiate small long positions at the proper places on the way down if it breaks up and decides to put in a 75-100 pt run up from here or down more. I don't know what it will do, just position myself to be there. Devise a decently accurate entry method and an even better trailing stop method and you will catch most of the big trend runs.

 

[apex82]

Quote from apex82:

Posted this on monday.. Now taking profit 2 here at 1449.50 for a 7 point gain. Still holding short one unit for a homerun if this breaks below 1446. A nice buy would be at 1446 with a 2 pt stop and go for 10-20 pts. I will be taking this buy on another account.

buying 1446 add on 1444.25

ES has hit a zone where we could potentially move to new highs and test the 1470 area now. Any cofirmed move below 1444 would be very bearish and this projection would be negated.

 

[romik]

Quote from romik:

Long 1453.00, ET was down for a bit

Adding 1449.50 all in now

 

[wave]

I feel that if you are able to devise a trailing stop method based on advice and clues given by Buy1Sell2 in his posts, you could eliminate the need to scale out and just let the market decide. Your stop may never get touched and you will have got a nicer piece of the run with full size on.