ES Journal Archive (2006 - 2008)

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Quote from brownsfan019:

That is ONE way to trade, yes; however that is not the only 'key' to making money trading. There's plenty of ways to make money shorting in an up trend and vice versa.
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Gotta agree with brownsfan019 a hundred million billion percent on this one.

For the position traders (which we discussed earlier), yeah, you gotta match your traders to what's happening on the longer time-frames otherwise you're going to end up losing lots of money trying to catch those reversals (assuming that's what you are doing).

But for the intra-day traders (one of) the key(s) to succeeding in this game is being able to consistently find the trend-within-the-trend, once you can do this consistently, you can consistently make money ... and it ain't always with the dominant trend.

Good trading,

JJ
 
Quote from brownsfan019:

That is ONE way to trade, yes; however that is not the only 'key' to making money trading. There's plenty of ways to make money shorting in an up trend and vice versa.
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In my original post, I believe I did say that there were opportunities on the other side that would be missed, so no argument here. The main point of my post was simply that it is more likely for extended gains if you trade with the predominant longer term trend. So while it is not the only way to trade, it is the best course.
 
There is however only one proper way to trade, but I have covered that in another thread. There are many viable strategies, but only one proper way. :)
 
Quote from brownsfan019:

That is ONE way to trade, yes; however that is not the only 'key' to making money trading. There's plenty of ways to make money shorting in an up trend and vice versa.
More...

Absolutely correct. There are many ¨lines in the sand¨to base your trading on. I for one do not particularly like holding positions for days, weeks, months on end, to me that is investing, not trading. Traders as in this definition
http://www.fairmark.com/traders/defined.htm take advantage of short term price swings and are not too interested in long term trends. Therefore I call my technique, trading. My trading day does take into account support and resistance on a daily level, but my intraday trades are based upon, simple MA cross overs, RSI´s, Channels, Pivot points, gaps, etc etc. All these
lines in the sand¨ are opportunities to trade and I get a lot of them, actually too many to post here. Thats just how I see it, others see it differently.
 
Quote from Brucelee:

Absolutely correct. There are many ¨lines in the sand¨to base your trading on.
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Speaking of Lines in the Sand so long as price action can hold above 1488.00 this market has a chance of retracing back-up the newly established downtrend which Apex82 has so nicely explained to everyone.

Good trading,

Jimmy Jam
 
Quote from Brucelee:

Wow, you got the absolute bottom, for the time being that is.
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time being is the key word....

profit targets at 1487, 1488.50, 1491

I will be flipping short at 1491
 
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