ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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You know there's a lot that can be said both for & against scaling out of positions, all I can say when I started to scale out of positions that previously happened to be losing ones I haven't looked back since, Volente's posts have actually helped me quite a bit to consider making a switch, so I guess it doesn't matter at al whether a trader scales out or not, just like it doesn't matter whether a trader uses price only or indicators as well as, the only thing that matters is profitability.
if you look at the daily...shows some near term targets.
as time passes, the trendlines migrate down...around 1460 is the first test, by the time market approaches that level, the macro stimulative effects will start being felt....
thus portfolio managers will frontrun the FED cycle, expecting the economy to resume...its growth.
if stimulative effects are witnessed, then we break the trendline and head to 1600 and higher..
if not then we reverse.
as time passes, the trendlines migrate down...around 1460 is the first test, by the time market approaches that level, the macro stimulative effects will start being felt....
thus portfolio managers will frontrun the FED cycle, expecting the economy to resume...its growth.
if stimulative effects are witnessed, then we break the trendline and head to 1600 and higher..
if not then we reverse.
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