ES Journal Archive (2006 - 2008)

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Quote from kinggyppo:

out that was a wash. This tape is red.
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Trading is not a favorable game in most circumstances and that is what we must use as our assumption in trading. The big mistake made by traders is thinking and expecting trading to be a favorable game.

You have execution costs or slippage when getting in and out of a position as well as commissions as a cost factor to be subtracted from your winnings or added to your losses. The market spends much time in an unpredictable mode. Trends both short and long term do exist but not one hundred percent of the time.

The correct way to control positions is to only hold them once they prove to be correct. Let the market tell you your position is proven correct but never let the market tell you that your position is wrong. You as a good trader must always be in command of knowing and telling yourself when your position is bad

Phantom of the pits. Author unknown.
 
Nice downside breakout from a bear flag or pennant (depending on which chart I'm looking at). Resistance at 1527 is all that stands between here and LOD, and hopefully we're about to penetrate that resistance. I'm patiently holding my full position in SDS (double short S&P 500 ETF), on which I was taking some heat for awhile but now nicely in green territory.
 
short agin here at 1525.75

stop at 1528.25

target 1524-1525

edit: only able to get half my orders out at 1525.... sold into panic... dumb play. I knew I was wrong. leaving stop where it is due to probabilities however not conformatble on the trade whatsoever.
 
Quote from kinggyppo:

Trading is not a favorable game in most circumstances and that is what we must use as our assumption in trading. The big mistake made by traders is thinking and expecting trading to be a favorable game.

You have execution costs or slippage when getting in and out of a position as well as commissions as a cost factor to be subtracted from your winnings or added to your losses. The market spends much time in an unpredictable mode. Trends both short and long term do exist but not one hundred percent of the time.

The correct way to control positions is to only hold them once they prove to be correct. Let the market tell you your position is proven correct but never let the market tell you that your position is wrong. You as a good trader must always be in command of knowing and telling yourself when your position is bad

Phantom of the pits. Author unknown.
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I should add in stop hunting market makers as well.
 
people won't want to hold anything going through the weekend. Asia will be red.

oil is gaming equities. Moves will occur afterhours in oil markets.

naz stocks will be arbed down, since curbs are in at nyse.

oil should hit 100 during afterhours, to fuel a negative open probability is over weekend.

10 year notes should touch into 4.10, currently at 4.38.
 
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