ES Journal Archive (2006 - 2008)

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Quote from Buy1Sell2:

No change for me yet. I will look to add more as we go if it seems right. I don't overextend myself and so I typically don't use stops. As you all know, I have taken a lot more heat than this. :)

This could be a great time for the ole triple!
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Ok I understand your edge - staying longer in the market and taking a lot of heat:D

but I think on the way down the chart and the MCAD curves changes -

Question: when based on your indicator infos would you through in the towel:p
 
Next question :D :

We had or are having a BLD on the hourly chart - but not on the 240.

Shouldn´t it be the other way round first BLD in 240 then in hourly or both and not starting in the hourly - get in without waiting if we make a reversal .....:D
 
Quote from Buy1Sell2:

Classic bullish divergence continues to fester on the hourly chart. I'm long 5 units at 1260.00
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Long here as well, average 1269.08 so far.
 
Quote from hpeganz:

Next question :D :

We had or are having a BLD on the hourly chart - but not on the 240.

Shouldn´t it be the other way round first BLD in 240 then in hourly or both and not starting in the hourly - get in without waiting if we make a reversal .....:D
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longer term charts lag shorter term charts. The movements begin on shorter charts.
 
Quote from hpeganz:

Ok I understand your edge - staying longer in the market and taking a lot of heat:D

but I think on the way down the chart and the MCAD curves changes -

Question: when based on your indicator infos would you through in the towel:p
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When I am down more than 2 percent of total portfolio.
 
One thing to mention here as regards my plan. --I have short positions still in the long term account--9 units. In addition, as stated earlier, I sell a great deal of call options for income purposes and directional plays. When reading this journal, that is a good thing to remember since it may look like I'm not doing well sometimes. I would caution against emulating my style of stopless trading unless you are lowly leveraged etc.
 
lol everyone has an excuse. buysell's getting killed and all of a sudden he's hedged. if the market skied i bet he'd have said he was all long.95% of traders are out of the game in 2 years and we see why
 
I been reading the posts regarding those of you that are long.
I agree that the hrly. chart shows divergence on the MACD (hist)and CCI indicators, but the 1/2 hrly. MACD doesn't support it, even though the CCI does. The shorter term indicators, nor, the daily aren't supporting it either.

Up to now, price has dropped through a couple of hrly. support zones and now it's sitting on another hrly. and daily support zone.

Even though there is a little divergence on the hrly. & 1/2 hr. I'm not seeing any divergence on the daily. If anything, my indicators are turning, or, have turned dn.

If this support at this level doesn't hold, which, if you look at the daily indicators doesn't look good, the next stop looks like around 1230.

Now, on the positive side, for the longs, there is a tremendous gap between price and the 50EMA on all TF's. That gap is always filled, so we may well see a retracement at this point.

Good luck,
Alex

Sorry: I left out that the 15min. has also started to turn up.
 

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Quote from bighitter1:

lol everyone has an excuse. buysell's getting killed and all of a sudden he's hedged. if the market skied i bet he'd have said he was all long.95% of traders are out of the game in 2 years and we see why
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Hopefully I am helping others here in their trading. This is the reason for my previous post about my plan versus someone else who may be day trading and just trading one direction. I post that type of stuff from time to time to put things in perspective. It's been well documented in this journal for quite some time that I have the positional account with the short bias. Also, I have mentioned that I sell call premium several times. One just needs to look at my moniker to see that I hedge quite a bit. In any event, you are welcome to post here and we look forward to it. I ask that you present constructive ideas and/or ask questions as we go. Thanks very much for taking the time to post.:)
 
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