ES Journal Archive (2006 - 2008)

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Predicting the move is not part of my system, it will never influence my decisions. It's just an additional game and it gives great fun if it appears to be correct.
I always follow my system, no matter what i (or others) think.


Quote from LondonUSTrader:

From my memory, Spike has a good record at his market calls.

However, knowing what the market is going to do is not necessary to make money consistently in the ES. In fact, for most of us having any market bias at all, is probably a negative.

In my view, it is far better to approach each day with a blank mind and try and listen to what the market is telling us about market direction from the current price action.

I imagine very few can replicate what Spike does, so we need to find our own way.

My signals are short here at 1300. My system tells me it goes lower.
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Quote from spike500:

Predicting the move is not part of my system, it will never influence my decisions. It's just an additional game and it gives great fun if it appears to be correct.
I always follow my system, no matter what i (or others) think.
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Likewise, and so you should. That's the path to success, always following your system regardless of what you think.

When my system gave me that short signal I was thinking I don't like that as I am long term Bullish at the moment, but I had to follow my system. Now, it looks good...trading around 1299 as I type...

You never know what will happen...just follow the plan...
 
Quote from LondonUSTrader:

From my memory, Spike has a good record at his market calls.

However, knowing what the market is going to do is not necessary to make money consistently in the ES. In fact, for most of us having any market bias at all, is probably a negative.

In my view, it is far better to approach each day with a blank mind and try and listen to what the market is telling us about market direction from the current price action.

I imagine very few can replicate what Spike does, so we need to find our own way.

My signals are short here at 1300. My system tells me it goes lower.
More...

Nice call London. I still trade on gut instinct and the few signals I see. Before the open today I felt nauseous and my fingers were shaking as I shorted lol. I need to embrace uncertainty as well.
 
Theoretically Spike and London could get together and come to the conclusion that if both their systems are giving them different signals the market will remain flat....

:)
 
Trend still long, correction is still classified as noise.
System generated a new buy signal at 1298.50.
System still tends to confusion but i stay long.
 
Quote from BoyBrutus:

Nice call London. I still trade on gut instinct and the few signals I see. Before the open today I felt nauseous and my fingers were shaking as I shorted lol. I need to embrace uncertainty as well.
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System got me out at breakeven. Good trade as I executed perfectly according to my rules so I view it as a winning trade!

That's me done for the morning. System has me flat until 1.30est at least.

Gut instinct isn't the best way, in my experience. You need positive expectancy first and foremost. But, good luck whatever works is most important!
 
Quote from BoyBrutus:

NQ and ER2 has broken yesterdays low 1297.50 has to fail as support. If it is a down trend day then you dont want to take profits till 1530 to MOC
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Ok, so I do sound like chicken little at times :D

But I did take partial profits on the way down expecting a bounce. At 10.35 you can see the high sell volume that didn't break 1296.75. I then look for a good pullback to re enter or If I miss the bounce then a automatic sell stop at 1296.75 on high sell volume breakdown.

This is where experience in scalping allows you to be wrong and still keep your shirt.

Tight stops and scaling out are part of my crude method at this stage.

:)
 
Indeed, the only question is: did i follow my system?

If you did you will normally get in the long term the results that testing the system did give you.
If you don't follow your system, the results of testing are worthless.
So respecting the rules and losing money is better than breaking the rules to make money. But sometimes the temptation can be irresistable.


Quote from LondonUSTrader:

... Good trade as I executed perfectly according to my rules so I view it as a winning trade!...
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