ES Journal Archive (2006 - 2008)

['81packer]

...in the word's of the late Jim Valvano ...

" never give up,..NEVER GIVE UP !''

-2 pts. on last trade

Long @ 50.75
stop on close <48.75
Exit @59.

let's see

 

[wave]

1454 could present itself to be a place to trail stop down.

 

[JimmyJam]

Quote from JimmyJam:

L ES @ 1454.50, PS @ 1452.50

JJ

The channel broke but support has (obviously) come in.

Currently down -2pts on the day, looking to go Long on any retrace of support.

Price is currently on the downside of the channel, so what was support has now become resistance.

Would've said it earlier, but ET was down for a bit (really, honest ), and then I was just sitting, waiting for the next opportunity.

JJ

 

[apex82]

Quote from apex82:

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.

Bastards are getting on my nerves... It stops in the middle of my zone... no retest and didnt allow me to get a unit long. Second time this has happened in a month... very rare.

 

[apex82]

Quote from apex82:

Bastards are getting on my nerves... It stops in the middle of my zone... no retest and didnt allow me to get a unit long. Second time this has happened in a month... very rare.

Well I got my retest... not the funnest trade to go long into this... but thats why you have trading plan.. Canceling add on at 1444. Lets see what happens... long from 1446 profit target is retest of highs stop is at 1443.50.

If the market breaks below this zone with force..... watch out

 

[wave]

Quote from wave:

1454 could present itself to be a place to trail stop down.

Waiting for the next area to trail stop down. Currently @ 1454.

 

[wave]

Quote from apex82:

Well I got my retest... not the funnest trade to go long into this... but thats why you have trading plan.. Canceling add on at 1444. Lets see what happens... long from 1446 profit target is retest of highs stop is at 1443.50.

If the market breaks below this zone with force..... watch out

We don't know what the markets will do, whether they will break down hard or breakout with force. Whether it will run 3 pts, 5pts, 50pts none of us know for sure. Just position yourself to take advantage whichever way it breaks and run with the side that is running.

Any sort of emotional conviction will screw with your trading and emotions.

 

[wave]

Quote from wave:

Waiting for the next area to trail stop down. Currently @ 1454.

new trailing stop 1449.75

 

[apex82]

Quote from wave:

We don't know what the markets will do, whether they will break down hard or breakout with force. Whether it will run 3 pts, 5pts, 50pts none of us know for sure. Just position yourself to take advantage whichever way it breaks and run with the side that is running.

Any sort of emotional conviction will screw with your trading and emotions.

Exactly thats why I went long... its my trading plan. If it doesnt get back above 1448 soon I am bailing on the trade. This is catching a falling knife at its finest... with a 1 to 10 risk to reward ratio

 

[wave]

Quote from apex82:

Exactly thats why I went long... its my trading plan. If it doesnt get back above 1448 soon I am bailing on the trade. This is catching a falling knife at its finest... with a 1 to 10 risk to reward ratio

Yes, a long is trying to peer it's head out here somewhere. I don't know for sure if it will break 1435, just based on statistics. If plan says long then long, period. Lose a little, win a lot.