ES Journal Archive (2006 - 2008)

[PitchBlack]

Quote from porgie:

play it like t his.........erase every bit of news that you know and all news that you think might happen.......don't listen to or watch news..........trade a good system or don't trade until u have a good system...real money anyway..........

Indeed,
don't watch the news, watch your system. Your system will give you the correct analysis of the news.




At least if your system is good.

 

[El OchoCinco]

Covered this morning at 1315.00.

Not sure what morning news would do to the market but the futures turned lower at 4:40AM and is sideways at 1315 as of 7:00 AM.

Quote from optioncoach:

I put a limit order to short at 1318.50 which is a tick under yesterday's open and was support at each spike higher. It got filled right at the end of the day so I am going to let it go short overnight since I think we are meeting stiff resistance now.

So short right now at 1318.50

 

[Buy1Sell2]

Quote from optioncoach:

Covered this morning at 1315.00.

Not sure what morning news would do to the market but the futures turned lower at 4:40AM and is sideways at 1315 as of 7:00 AM.

Hourly chart is still pointing downward here at this point and not to oversold point yet. My feeling is that a stop could be placed somewhere above 1319

 

[Buy1Sell2]

Quote from nlslax:

Sometimes it's better to be lucky than smart. But don't count on it too often.

Very true. I would say that the one that loses the least will end up winning the most.

 

[El OchoCinco]

Shorter time fram charts were showing a flattening bottom so I took my points. We have turned up slightly off the 1315 low and last bars on all my charts are point up.

I am waiting for a bounce back to continue moving lower and short or crossovers and moves higher to go long before the market opens.

From my backtesting I am finding that on most days I can get a good scalp in the 7 - 9 AM hours which would be nice to get 'er done early in the day and maybe be in a position to ride out the move through the opening.

Quote from Buy1Sell2:

Hourly chart is still pointing downward here at this point and not to oversold point yet. My feeling is that a stop could be placed somewhere above 1319

 

[El OchoCinco]

Long at 1316.50 with a general stop around 1314.50 or so...

 

[Buy1Sell2]

Quote from optioncoach:

Shorter time fram charts were showing a flattening bottom so I took my points. We have turned up slightly off the 1315 low and last bars on all my charts are point up.

I am waiting for a bounce back to continue moving lower and short or crossovers and moves higher to go long before the market opens.

From my backtesting I am finding that on most days I can get a good scalp in the 7 - 9 AM hours which would be nice to get 'er done early in the day and maybe be in a position to ride out the move through the opening.

Never hurts to take profit!

 

[sosa1974]

Quote from optioncoach:

Covered this morning at 1315.00.

Not sure what morning news would do to the market but the futures turned lower at 4:40AM and is sideways at 1315 as of 7:00 AM.

Nice work on that trade. Yesterday was just plain dead and price action and volume made that clear.

 

[romik]

Nice one OC, did you notice it bouncing off yesterday's last 2 hours low, which also happened to be low of the 12.30 WRB?

 

[Buy1Sell2]

Quote from optioncoach:

Long at 1316.50 with a general stop around 1314.50 or so...

Looks like these would be points on the B1S2 RSI intraday 12 minute chart system (tm).