ES Journal Archive (2006 - 2008)

Status
Not open for further replies.
Quote from apex82:

Stopped out on very very small size for a 1.50 loss

my analysis was clearly wrong

-3.75pts

now flat waithing to get long on a pullback
More...

This is why I don't like trading in front of news events. Fundamentals trump short-term technical analysis. I have no edge when it comes to economic analysis. Hell, even the economists have no edge it seems.
 
Economics and fundamentals are useless in trading. The only economics you need to understand are the supply and demand footprints laid out right in front of you on your chart in the price and volume. When the big players (those in control) stop dipping their hands in the cookie jar, its time to go the other way shortly after. And you will see this on the chart before any news, fundamentals or economics. Imagine that, knowing what to do before it happens. Short demand is dipping into supply here.

Your business is to be a trader and make money. Even investors just want to make money period. Simple is best. Suppy and demand clues laid out by those with the $$$.
 
Those who make the markets (not us) have to accumulate from supply and distribute into demand and with the size they throw around they just can't do it at once. That's where the quants and algorithms come into play. All done while trying to hide their true intentions. If I have 1000 lemons to sell, I need someone to buy those 1000 lemons. When I have achieved that, I have no more demand needs and these clues are there if you train the eyes to see them.
 
Short at 1502.50. Rule of 10. (Where's Volente when you need him?)
Stop at 1504.50 (+2)
Initial target 1499.75 (2.75 points)

Countertrend move, prepared to pull the plug if the price action looks bad...fingers crossed.
 
The new distribution and accumulation phase is taking place from 1498 to 1506. Most $ based stops will get picked off during these supply/demand switchovers. I don't advocate $ based stops. Just follow their footprints and switch over when they drop clues and stay out of their way stopwise.

Realise they have risk controls in place as well. This is where the clues are shown on the chart.
 
Quote from mbusch:

Short at 1502.50. Rule of 10. (Where's Volente when you need him?)
Stop at 1504.50 (+2)
Initial target 1499.75 (2.75 points)
More...
Lowered buy stop to 1503.50
 
Quote from wave:

The new distribution and accumulation phase is taking place from 1498 to 1506. Most $ based stops will get picked off during these supply/demand switchovers. I don't advocate $ based stops. Just follow their footprints and switch over when they drop clues and stay out of their way stopwise.

Realise they have risk controls in place as well. This is where the clues are shown on the chart.
More...

Nice theory.

What chart?

JJ

P.S. Oh I get it, my chart! ... um no they're not.
 
Status
Not open for further replies.
Back
Top