ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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That was pre-market, obviously things have changed since, there was no continuation, no worries, we can wait
I don't see personally, what I see is that price can't take pivot and histogram has put a 2nd lower peak on 10 minute chart (disturbed by report p/a, though fade was rather quick, which suggests that it MIGHT not be basing)
Quote from Buy1Sell2:
Yes. A formation for reversal has not been put together for reversal on either the daily or weekly yet. ----Doesn't mean it won't go down and I get nailed, but I believe at the moment, we are still headed higher. Certainly looks like we could have a short term pause in the up direction here, but I stay long for now.
I read in one of your post that you don't have stops due to your bias being either long or short. You also stated you don't risk more than 2 % of total liquid equity. It seems you would have to have a stop somewhere or else your equity could get hit a lot worse than 2%. Therefore, what is your downside stop?
DMartin
it`s all about the daily TL on ES07Z now to determine where we go.....today i believe we trade well inside yesterdays big range putting in another IVB as yesterdays bar was very ominous & gives me a bearish bias....i`d like to see a move into the lo/mid 70`s to sell....hi 70`s even better.
no trading for me today.....i`m off to see my friend play his first pro hockey game in upstate NY tonight........good trading all!
no trading for me today.....i`m off to see my friend play his first pro hockey game in upstate NY tonight........good trading all!
Pretty quiet here today. Had some amazing confluence at the HOD. Was waiting for 72-73 to be hit but prices stalled at 71.
Was roughly 50% retracement from yesterday, 71 was a previous POC and major moving averages resistance on my 15 min chart.
Had some decent gain yesterday and put my biggest position on to date.
Got scared quickly and sold 8 at 68. Damn last time i trade such big size for my account.
Holding last 4 short with stop at b/e, target for this short would be a new LOD.
Out last 4 at 68.50 not like price action here
Was roughly 50% retracement from yesterday, 71 was a previous POC and major moving averages resistance on my 15 min chart.
Had some decent gain yesterday and put my biggest position on to date.
Got scared quickly and sold 8 at 68. Damn last time i trade such big size for my account.
Holding last 4 short with stop at b/e, target for this short would be a new LOD.
Out last 4 at 68.50 not like price action here
Quote from Mins:
Pretty quiet here today. Had some amazing confluence at the HOD. Was waiting for 72-73 to be hit but prices stalled at 71.
Was roughly 50% retracement from yesterday, 71 was a previous POC and major moving averages resistance on my 15 min chart.
Had some decent gain yesterday and put my biggest position on to date.
Got scared quickly and sold 8 at 68. Damn last time i trade such big size for my account.
Holding last 4 short with stop at b/e, target for this short would be a new LOD.
Out last 4 at 68.50 not like price action here
Bulls came back and i had to scalp long here - probably sold to early. Still expecting some sellers to show up and 72-73.
This will be interesting to see which way this is going.
LOL man, no Boba Fett's here.
My trading philosophy is firmly based around the ideas of Dr. Alexander Elder and his Triple Screen Trading system, another man who has created substantial wealth for himself by simply following the path of least resistance that the market creates for him.
It just so happens, when having conversation here, B1S2 has shown that he exposes a similar belief system (in great detail, I might add).
Once you know how to do that (basic trading of a trend), you can do anything else you want.
You can trade reversals, because you'll have a pretty good idea of where the trend may end (Anekdoten has a great post on his thread about that), you can trade volatility like Atticus (because the market moves directionally in cycles of expansion and contraction), you can trade breakouts/breakdowns, like MarketSurfer used to do (a body in motion, etc.).
But the trader has to start somewhere in the hope of gettting to where they are going, and being able to identify a trend is a good place to start.
Good trading,
JJ
P.S. Once again, my comments are only for the folks who want/need'em.
P.P.S. With all of the indicie in the green (since yesterday's close) and being led by the Comps, the Bankers neutral, the Trin showing light buying and the VXO dropping through the floor, there was plenty to be made on the Long side today.
[QUOTEly following the path of least resistance
P.P.S. With all of the indicie in the green (since yesterday's close) and being led by the Comps, the Bankers neutral, the Trin showing light buying and the VXO dropping through the floor, there was plenty to be made on the Long side today. [/B][/QUOTE]
short 1571.50 no stop
1134AM EST
blackguard
P.P.S. With all of the indicie in the green (since yesterday's close) and being led by the Comps, the Bankers neutral, the Trin showing light buying and the VXO dropping through the floor, there was plenty to be made on the Long side today. [/B][/QUOTE]
short 1571.50 no stop
1134AM EST
blackguard
short 1571.50 no stop
1134AM EST
blackguard [/B][/QUOTE]
Im with you on this one, still it might get to 75 before any turning point. Im seeing this as a low risk short. I will have tight stop (don't mind getting stopped out and getting back in at a better price) and scale out as it goes in my favour.
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