ES Journal Archive (2006 - 2008)

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Quote from smilingsynic:

How many daytraders out there in ET land have suffered 30 points loss a contract over three days?

Anyone?

I've done my share of dumb things in this business, but not that (knock on wood). :)
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I cannot and have not ever held the notion of dropping 120 tics through my own actions.
It is a thought that is completely outside my DNA.
A bit like breathing naturally underwater

regards
f9
 
Quote from fearless9:

I cannot and have not ever held the notion of dropping 120 tics through my own actions.
It is a thought that is completely outside my DNA.
A bit like breathing naturally underwater

regards
f9
More...
You are a scalper right?
Do you trade with over 7 figures in the ES?
Have you ever had a gain over 60 points on a trade, or 100 points?
If not then it is understandable that you have never had a 30 point loss.

I understand scalpers arguing with other scalpers or position traders arguing with other position traders, but I fail to see the relevance of a scalper arguing with a position trader.

Edit: Tommy, you better make another post quick, that is not a good number for a live trade.
 
Quote from opt789:

You are a scalper right?
Do you trade with over 7 figures in the ES?
Have you ever had a gain over 60 points on a trade, or 100 points?
If not then it is understandable that you have never had a 30 point loss.

I understand scalpers arguing with other scalpers or position traders arguing with other position traders, but I fail to see the relevance of a scalper arguing with a position trader.

Edit: Tommy, you better make another post quick, that is not a good number for a live trade.
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I think that you misunderstand me.
I simply made a statement that the notion of taking a 120 tic hit is completely foreign to me.
Whether it is foreign to other people is their business, not mine.

I am not scalper but rather I trade the price waves that form intraday.
I prefer trading these waves rather than any other frame as they have the highest level of efficiency for the lowest risk ... at least I think so.

The fact that others may not share my thinking is once again their business and I have no desire to bend their thoughts.

There are however, other people who read what I occasionally scribble and it opens doors in their minds simply because they are already heading in that direction and their minds are receptive.

regards
f9
 
Quote from opt789:

You are a scalper right?
Do you trade with over 7 figures in the ES?
Have you ever had a gain over 60 points on a trade, or 100 points?
If not then it is understandable that you have never had a 30 point loss.

I understand scalpers arguing with other scalpers or position traders arguing with other position traders, but I fail to see the relevance of a scalper arguing with a position trader.
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While it is always good to compare apples with apples and oranges and oranges, it is never good to say that one is better than the other.

I believe Buy1Sell2 is the only one here operating under that fallacy ... so much for dogma.
 
es chart, there is a reason buy and hold will do better than a trader with prudent stops. Look at the drawdown required to endure the downward spikes earlier in the year if you were long. If you bought es on Jan 2, 2008 at 1487 you would have been 227 es points under water worst case. I would say that is enough to blow out even the best traders.
 

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Quote from kinggyppo:

es chart, there is a reason buy and hold will do better than a trader with prudent stops. Look at the drawdown required to endure the downward spikes earlier in the year if you were long. If you bought es on Jan 2, 2008 at 1487 you would have been 227 es points under water worst case. I would say that is enough to blow out even the best traders.
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I am understanding you correctly.

Buy ES jan 02 at 1487 now trading at 1377.

Buy and hold is underwater 440 tics (110 pts)

I thought that the whole idea was to make money

regards
f9
 
Quote from fearless9:

I think that you misunderstand me.
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I understood you perfectly; you are criticizing a position trader:
"I will just chalk it up as ANOTHER B1S2 error in judgment."
and the sarcasm of
"This classic however takes the cake ..."
make that clear.

I am simply pointing out that if you are not a position trader your point of view is skewed. You seem to know what you are doing, care to elaborate on what an average trade is for you: stop size, target, time frame, etc?

I agree with J.J., there is no ONE answer to best trading style or time frame for every trader.
 
Quote from fearless9:

I think that you misunderstand me.
I simply made a statement that the notion of taking a 120 tic hit is completely foreign to me.
Whether it is foreign to other people is their business, not mine.

I am not scalper but rather I trade the price waves that form intraday.
I prefer trading these waves rather than any other frame as they have the highest level of efficiency for the lowest risk ... at least I think so.

The fact that others may not share my thinking is once again their business and I have no desire to bend their thoughts.

There are however, other people who read what I occasionally scribble and it opens doors in their minds simply because they are already heading in that direction and their minds are receptive.

regards
f9
More...

You did say it was completely foreign to you. Unfortunately, you were responding in what seemed to be agreement with smilingsynic, who called the B1S2 strategy dumb. Perhaps that's the confusion.

OldTrader
 
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