ES Journal Archive (2006 - 2008)

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I use 6 sec and 1m charts, looking at 5,15 and 60m to improve technique. No indictors except for MA's which I dont pay much attention to. I see some accumulation moves on the tick charts but these are generally good for scalps 1 to 2 points. I am trying to increase my visibility timeframe. Short term divergences are spotted on the YM , ER2 NQ and $SOX.
 
OC sorry about the loss there, I remember what one of the traders on ET mentioned, could be compared to what happened on your last trade. Whenever we consider doing a counter trend trade in a trending market, there has to be a contingency plan, yours was in a way of a 2 point stop or there about. The problem is that major participants know that quite a few shorts would have been open at that level with 1-3 point stops and all they have to do is create a dis balance, which they can afford to do for sure. I have done that mistake recently and got hammered with my 2 point stop stuck up my rear :). Looking at the 5 min chart now, I would have placed a stop @ 17.75, it reversed on less volume and pretty much engulfed the previous candle. What happened later is a common scenario, where stops had to be triggered. Unfortunately, this is not always clear to us while in an open position, therefore as Michael has been 'demanding' previously, we have to consider various types of exits.
 
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