ES Journal Archive (2006 - 2008)

[JimmyJam]

Quote from JSSPMK:

Good post Jim, I think some of us use similar reasoning, I definetly use 1,3,4 but not so much on point 2. I still believe that he benefits greatly from multispreading risk via other future markets, reducing overall position size per 1 future market & using larger stops than can be 'accepted by a daytrader' full stop. My take on this is that for majority of traders whose capsize is nowhere near Buy1Sell2's one of the ways to implement his way of trading is by either reducing size dramatically down to 1 lot on $500 margin this increasing margin to $5k+ or decreasing stop levels by entering very close to support/resistance zones AND with help of indicator/s. He has stated himself that he is not very accurate with his entries, I know I have to be and there have been many occasions where longer term trend provided no help at all & other times when going against major trend proved to be pretty fruitful. Just some random thoughts.

Thanks JSSPMK, besides Lance Carson (and one or two other notables ) I've noticed that you're one of the few who can catch market turns consistently, and I thought about that when making my post.

But once again, I'm going back to how I was trading when I was most in-synch with the market, my winners came in the quickest, and I was able to extend the range or increase the contract size with confidence.

Once again, there is a certain feel that goes along with trading like this ... and because of the ability to extend range and increase size when appropriate (whatever that means to the individual trader) those minor losses which come from being stopped-out of a position just don't matter when it's time to count your tally.

Good trading

 

[fearless9]

Quote from Mins:

Why would you follow Buy1Sell2, he has his trading style and others have theirs.
What works for him may not work for others - lets not get ahead of ourselves, he his a great trader and his method works for him but this does not mean others can't outperform him.

As for trend following - it is a great strategy until it fails - just ask Richard Dennis.

'Trend' is probably the most used and least understood word on ET.

In order to throw the word 'trend' about it must always be coupled to a frame of reference ( daily, 400 lots, 3 min etc)

Winning trades are always with the trend or should I say 'a trend'

Stop and think about it for a moment.

Trend is where the price is going within it's frame. If you happen to be onboard then you are trading with the trend profitably despite yourself sometimes.

You cannot say "I scalped the trend for a profit" simply because you were on board another trend in a different frame
most probably without knowing it.

The first rule in this game is to define your trading frame and stay within it.
Otherwise you will stagger about like a free range chicken.

regards
f9

 

[Mins]

Quote from fearless9:

'Trend' is probably the most used and least understood word on ET.

In order to throw the word 'trend' about it must always be coupled to a frame of reference ( daily, 400 lots, 3 min etc)

Winning trades are always with the trend or should I say 'a trend'

Stop and think about it for a moment.

Trend is where the price is going within it's frame. If you happen to be onboard then you are trading with the trend profitably despite yourself sometimes.

You cannot say "I scalped the trend for a profit" simply because you were on board another trend in a different frame
most probably without knowing it.

The first rule in this game is to define your trading frame and stay within it.
Otherwise you will stagger about like a free range chicken.

regards
f9

Sorry your just talking semantics here - we all know Buy1Sell2 is a longer term trend follower - i think he plays close attention to the 60 min the 240 and the daily.

As i day trader i also use the timeframes, but my most commonly used timeframes are 1,5,15 min frames. To me the longer timeframes still help considerably when deciding wether my long or short has better odds.

We all know there are different trends at different timeframes.
When i said trend following, i meant in reference to the daily timeframe.

 

[BoyBrutus]

Saxon

If my read is correct there is much more downside to come.

Possible we go into a narrow range till the afternoon then the ES will $hit curry.

I am short stop at HOD

Why am saying this? as its a read of this mornings ES price action nothing more.

Ofcourse I may be wrong and when I post it I usually am

 

[JSSPMK]

Quote from BoyBrutus:

Saxon

If my read is correct there is much more downside to come.

Possible we go into a narrow range till the afternoon then the ES will $hit curry.

I am short stop at HOD

Why am saying this? as its a read of this mornings ES price action nothing more.

Ofcourse I may be wrong and when I post it I usually am

ImO at the moment there is a more of a bullish stance, especially so on 10 minute chart's histogram.

 

[smilingsynic]

Quote from Mins:

Why would you follow Buy1Sell2, he has his trading style and others have theirs.
What works for him may not work for others - lets not get ahead of ourselves, he his a great trader and his method works for him but this does not mean others can't outperform him.

As for trend following - it is a great strategy until it fails - just ask Richard Dennis.

Some of us employ different styles, not just one style, depending on the time frame.

Some of my account is reserved for intraday, some for position trading.

A person can be short-term bearish and still have a core long position, and vice-versa.

 

[tortoise]

Quote from JSSPMK:

ImO at the moment there is a more of a bullish stance, especially so on 10 minute chart's histogram.

sox and tran are neg, though

 

[tortoise]

we're balancing here, obviously. what gets me, though, is that the energy, such as it is, seems to be with the upside probes, whille any number of market breadth measurements seem to suggest more downside potential. oy...

 

[JSSPMK]

Quote from tortoise:

we're balancing here, obviously. what gets me, though, is that the energy, such as it is, seems to be with the upside probes, whille any number of market breadth measurements seem to suggest more downside potential. oy...

Bur isn't that like shorting a stock based on fundamental issues, there can be a hell of a drawdown unless you 'trade what you see' at that point in time

 

[tortoise]

Quote from JSSPMK:

Bur isn't that like shorting a stock based on fundamental issues, there can be a hell of a drawdown unless you 'trade what you see' at that point in time

yes. exactly. i just don't know what i see!!!!