ES Journal Archive (2006 - 2008)

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i did have paper profits until that voilent little push up (its amplifed with options) u can say it was bad trading because it was my stop at first then a pushed it down to break even...which was the support line. oh well. it was alittle scratch but i could have walked away with my pockets bulging alittle :)
 
Quote from ammo:

so min chart starting with low on 7/28 is still in an uptrend with support line here around 76-78
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Daily was in an uptrend but i am a short term follower. I would not want to be long today unless price action on shorter term warrants this.

We had bad econ numbers and a liquidity blast this morning - some stops were run and sellers accumulate more shorts.
However, this can all change dramatically by evening session.

I am always looking at the 1min for my entries and now trailing my shorts with stops above 79 right now.

Will start scaling out when i see the trend weaken or some accumulation action take place.
 
If they want go higher than is necessary get everybody out of positions taken during large NQ and equities rally.
So as minimum well bellow 1860 on NQ shake everybody out.


If this was giant bull trap similar like Monday bear trap they will grind lower and lower and lower with.
 
Quote from kamek:

i did have paper profits until that voilent little push up (its amplifed with options) u can say it was bad trading because it was my stop at first then a pushed it down to break even...which was the support line. oh well. it was alittle scratch but i could have walked away with my pockets bulging alittle :)
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Moving stops to break even before price has even made a wave or move away from your stop is crazy to me.

It will lead to many stop outs and lots of over trading. I like to keep in a position for awhile and wait to either be stopped out or take profits.

No way would i move my stop until price has moved e.g. in ES if you were short from 84 i would have my stop at 87 and move this to break even as price broke 82 level.
 
Good info... :)

Quote from Mins:

I think your making the mistake that price will drop like a rock and therefore every little tick up is making you more and more uneasy in your short.

Remember often price takes a while to drop - people have to distribute up top and sellers start loading up their shorts. They obviously don't want the thing to drop straight away before getting some of their positions filled.

This is why you will see a lot of distribution near tops - i find it strange that you expect it to drop straight away.

Once it starts moving down then the other long players sell stops will be hit adding fuel as we go further down.

Please remember accumulation and distribution - look at price and tape and see where its going on.
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Quote from Mins:

Daily was in an uptrend but i am a short term follower. I would not want to be long today unless price action on shorter term warrants this.

We had bad econ numbers and a liquidity blast this morning - some stops were run and sellers accumulate more shorts.
However, this can all change dramatically by evening session.

I am always looking at the 1min for my entries and now trailing my shorts with stops above 79 right now.

Will start scaling out when i see the trend weaken or some accumulation action take place.
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my numbers are 95,85 ,60 and 50,im scalping a little,dont think we'll see big move for rest of day,til # tommorrow,will look to short for a few points under 75, nibbling long above,there is a ledge on the markt profile at 84 ,which indicates a large or several large offers up there,they(ledges) are usually taken out by end of day
 
Quote from Mins:

Moving stops to break even before price has even made a wave or move away from your stop is crazy to me.

It will lead to many stop outs and lots of over trading. I like to keep in a position for awhile and wait to either be stopped out or take profits.

No way would i move my stop until price has moved e.g. in ES if you were short from 84 i would have my stop at 87 and move this to break even as price broke 82 level.
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By trailing stops effectively you can stay in a move a long time which prevents over trading and the mistake of taking an opposing position.

I would now move my stop to 78.25 and take 50% off at 74. That nets you 10 or 9 points if you were short from 83-84 region and has kept you with the trend the whole time.

It all about catching a stron trend and using stops to ensure you don't give to much back.
 
Quote from kamek:

ok now i'm the fuck heated...lol. it was meaty too :(
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Relax Kemek don't let that get to you or your gonna get killed in the next move.

Looks like a decent price action day thus far - there may be some decent moves in the evening. Stay calm and composed and avoid over trading.

Also, don't be afraid to get in on the middle of this move e.g. If you missed your short at even the 82 level, you had chance to get back in at 78 and 76.50. Each would have netted you decent gains with small 3 points stops (on ES I'm talking about).

Now i would take 25% of here at 72 and move stops to bank all remaining gains - stop would be pushed to 75 - i don't like giving to much back once it has moved in my favour a considerable amount.

Getting ready to take even the last 25% of as i see some signs of a some accumulation here. I want to take as much as i can. If it breaks below 71 will look for more shorts.
 
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