ES Journal Archive (2006 - 2008)

hpeganz · Jul 17, 2006

Quote from Buy1Sell2:

I..................... What would it have done with the chart misread of 1260 as a BLD?

Stop 1255.25 - 2 or 3 points

romik · Jul 17, 2006

If I had a 5k account, I would not be in a position to trade divergences of an hourly chart. Longer TFs do offer more gain point wise, but the prolem comes from being stopped out after 2 points down after entry, increasing stop level would increase risk to capital. On a 5k account I would use a different system alltogether.

Buy1Sell2 · Jul 17, 2006

Quote from romik:

If I had a 5k account, I would not be in a position to trade divergences of an hourly chart. Longer TFs do offer more gain point wise, but the prolem comes from being stopped out after 2 points down after entry, increasing stop level would increase risk to capital. On a 5k account I would use a different system alltogether.

I actually believe that ES is not the market for a 5k account. That's 12 or 13 to 1 leverage and the stop would be less than 2 pts. A 5K account would best suited for Corn, mini Beans or Oats and traded positionally only.

thebuzzkill · Jul 17, 2006

Quote from Buy1Sell2:

I just jumped the gun. By the way, I have decided to use RSI and not use CCI.

Any particular reason why you are not going to use the CCI in your trading, a lot of my system is made up of CCI crossovers, using the 16,8 & 20,10 settings on various time frames like the 120tf and 60. Both have to have crossed to give an idication for me, this is only part of my system but it is very useful to me, however it does work better on the YM than the ES.

Buy1Sell2 · Jul 17, 2006

Quote from thebuzzkill:

Any particular reason why you are not going to use the CCI in your trading, a lot of my system is made up of CCI crossovers, using the 16,8 & 20,10 settings on various time frames like the 120tf and 60. Both have to have crossed to give an idication for me, this is only part of my system but it is very useful to me, however it does work better on the YM than the ES.

It's workable, but my feeling from doing testing, is that the RSI is more honest.

sosa1974 · Jul 17, 2006

Quote from romik:

If I had a 5k account, I would not be in a position to trade divergences of an hourly chart. Longer TFs do offer more gain point wise, but the prolem comes from being stopped out after 2 points down after entry, increasing stop level would increase risk to capital. On a 5k account I would use a different system alltogether.

I agree, anyone with a 5k account should not attempt any of these type of trades. I've built my trading around divergences and reversals and will continue to trade this way until the markets show that they can trend consistently.

kalinka · Jul 17, 2006

Are you still long?

kalinka · Jul 17, 2006

My question was romrik.

romik · Jul 17, 2006

Quote from kalinka:

Are you still long?

still long

ae_trading · Jul 17, 2006

This inside bar(green circle) has me watching for an upside break.

I'm still short, thinking that the market is bearish and the resistance will hold(blue circle) but almost considering putting in a buy stop above today's high.