ES Journal Archive (2006 - 2008)

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Quote from smilingsynic:

I'll be a swing trade buyer at 1238.25, looking for 80 points (and if it bounces off close to that level, I'll put in a buy stop, to avoid being penny wise, pound foolish). For the IRA, Dow etf at 11,020 and 10.080.

These will be swing trades, not intraday trades. Intraday trading is very different than short-term trading held for days/weeks.

JMOs--I always appreciate critical and friendly questions.
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Regarding this post from last week: these orders are still there, albeit at less size than intraday trades, as overnight positions entail greater risk.
 
Quote from JSSPMK:

So wouldn't you say that volume was the manipulator in this instance? If you say that there is no manipulation just bad ABC, then what just happend to you? You say your ABC was fine & that there is no manipulation, then what just happened?
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All I worry about is getting out quickly when wrong and staying in when right. This is why I am successful. I wouldn't care even if there were manipulation and/or PPT. It just wouldn't affect what I am doing.
 
Quote from smilingsynic:

It is mathematically impossible to make money IN THE LONG RUN with a system with a negative expectancy. Position size is irrelevant; small size only allows one to play longer.
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Absolutely. This is why I have designed my trading for positive results. I do this in large part by exiting quickly when wrong and staying in when rtight. It is, without question, the only true edge in trading.
 
Quote from Buy1Sell2:

All I worry about is getting out quickly when wrong and staying in when right. This is why I am successful. I wouldn't care even if there were manipulation and/or PPT. It just wouldn't affect what I am doing.
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I don't quite understand why you sometimes go for 1 lot trades, when your normal trade size is 20+? I use 50% position at times when I have to extend a stop, but if I was to cut size to 1/20th of regular position, then I would be wasting my time. Was that 1 lot trade meant to be a daytrade or not? Because if it was meant to be a daytrade, then I don't follow your logic here at all.

I am not criticising, I just wish to understand the logic, TY!
 
Quote from JSSPMK:

I don't quite understand why you sometimes go for 1 lot trades, when your normal trade size is 20+? I use 50% position at times when I have to extend a stop, but if I was to cut size to 1/20th of regular position, then I would be wasting my time. Was that 1 lot trade meant to be a daytrade or not? Because if it was meant to be a daytrade, then I don't follow your logic here at all.

I am not criticising, I just wish to understand the logic, TY!
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From what he has said he appears to be short a large position from over 1400 still. His little daytrades, which have almost all been losers, are just to give him something to do and a way to communicate with ET participants. Who cares if you lose a few points on a daytrade here and there if you have a full positional short on from May.
 
Quote from JSSPMK:

I don't quite understand why you sometimes go for 1 lot trades, when your normal trade size is 20+? I use 50% position at times when I have to extend a stop, but if I was to cut size to 1/20th of regular position, then I would be wasting my time. Was that 1 lot trade meant to be a daytrade or not? Because if it was meant to be a daytrade, then I don't follow your logic here at all.

I am not criticising, I just wish to understand the logic, TY!
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I'm using 1 lot for day/swing trades here so that I am able to communicate effectively with all readers of this journal.
 
Quote from opt789:

From what he has said he appears to be short a large position from over 1400 still. His little daytrades, which have almost all been losers, are just to give him something to do and a way to communicate with ET participants. Who cares if you lose a few points on a daytrade here and there if you have a full positional short on from May.
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He is short from over 1400? I missed that one, in which case WTG!
 
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