ES Journal Archive (2006 - 2008)

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Quote from apex82:

A nice way to play this would be a sell stop at 1484.50 and then once entered a stop above the previous pivot high.
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The next drop should provide you with a sufficient escape hatch, it might be prudent to take it.

JJ

P.S. I just saw your post right before mine. Sorry bout that ... in that case, the next drop might give you a good buying opportunity.
 
Quote from JimmyJam:

The next drop should provide you with a sufficient escape hatch, it might be prudent to take it.

JJ

P.S. I just saw your post right before mine. Sorry bout that ... in that case, the next drop might give you a good buying opportunity.
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ya... market is exhibiting abnormal price action... if anything I am going to be on the sidelines. Nice es buy zone coming in at 1484.50.
 
Quote from JimmyJam:

I know you're a big guy and everything F9, and I don't want you to beat me up, but, LOL - this is KRAZY!

The only way I can even survive in the game and hope to win is through my position sizing and money management (it certainly isn't my trading - and I freely admit it).

I'll do good to net $100 - $300 a week per car trading the ES, despite shooting for $500.

Jimmy Jam
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JJ
We are in two different places. I know where you are because I spent years there, toing and froing, firstly with profitability and then with over funded accounts once I was consistently on the right side of the ledger,etc etc

All I am saying is that we need to open our minds through our eyes to exactly what is going on with the ES.

The key to this game is' lot size'
It is not about how many tics you can take out of a move.
It is not about big winners and multiple small losers, it is all about lot size.

If you think that I am leading you on, then that is a tragedy.
 
Quote from fearless9:

You are a thinking man TP.
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Thanks fearless, it means a lot to me !

I respect what your saying and am learning from your contributions !

I would like to say I am not for or against any reasonably sound method. There are plenty of ways to earn a living at this game. I know a few traders that trade off well know price levels (MP) and earn a respectable living doing it. I have met many more that try to trade off things like pivot points and fail to succeed with it over the long term. This is probably more to do with the inexperience or other issues unrelated to the actual underlying method.

Personally, it has been my experience that it is easier for me to make money initiating trades in the direction price is moving, which I believe is also the basic idea behind B1S2's method in this journal.
 
Quote from TrendPro:

Thanks fearless, it means a lot to me !

I respect what your saying and am learning from your contributions !

I would like to say I am not for or against any reasonably sound method. There are plenty of ways to earn a living at this game. I know traders that trade off levels and earn a respectable living doing it. I have met many more that try it and fail to succeed with it over the long term. Personally, it has been my experience that it is easier for me to make money initiating trades in the direction price is moving, which I believe is also the basic idea behind B1S2's method in this journal.
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You are quite right TP, going with the flow, handled properly should earn you more than you give back and can easily make you a respectible living. I should know.

The danger in taking the next step which involves a paridigm shift in thinking, is that you cannot find your way back if indeed it doesnt work out.

Only you can answer this one for yourself.
 
Quote from apex82:

ya... market is exhibiting abnormal price action... if anything I am going to be on the sidelines. Nice es buy zone coming in at 1484.50.
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Over an hour in advance.... low tick 1484.50
 
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