ES Journal Archive (2006 - 2008)

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Quote from wave:

These types of days are a momentum traders pay days. Intra-day mean-reversion traders best to revert with the momentum until the volatility returns to normal or widen up your levels.

A break of 1200 will be ugly.
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1180, next stop on the train?
 
I am sure you all remember when 1490 was resistance, then 1390, then 1290, then 1250, and here we are at 1230 with probable future resistance at 1190, then what. Just sayin.
 
Quote from kinggyppo:

I am sure you all remember when 1490 was resistance, then 1390, then 1290, then 1250, and here we are at 1230 with probable future resistance at 1190, then what. Just sayin.
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I suggest you refer to this chart. However, keep in mind that this market isn't so much chruning based on technical or fundamental as the psychological factor surrounding the uncertainties in the market.
 
1st day trading real money and what a day to start. I'm up $87.00 and now out for the day. I feel fortunate but also like I've been drawn and quartered. Got chopped up a few times, stopped out, and 2 small winners. My hand shook so bad the mouse about rattled apart. Nothing like simulated trading. I have a ways to go on the psychology trading. 1 CAR at a time and ES only. I couldn't track any more. Great trading.
 
Quote from Buy1Sell2:

No. Swing trend is basing.
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I have 1170-1175 as a strong support zone. If they're going to try and turn this market soon it'll be there IMO. It has basic technical significance that even the most fundamental fund manager could see (50% retrace from 2003 lows, plus multiple hi/lo's over the past decade), smaller timeframe more technical confluence (extensions, projections) and could also be reached by capitulation on a 1200 break. In regards to what you're saying about the swing trend basing, I'm seeing that as a definite possibility. A third lower drive would form a triple MACD histo divergence on the weekly chart which is very significant. I'll post the chart I made last week when I get home.
 
Quote from saliva:

I suggest you refer to this chart. However, keep in mind that this market isn't so much chruning based on technical or fundamental as the psychological factor surrounding the uncertainties in the market.
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Thanks for both the chart and the reminder... appreciate that longer-term perspective on the weekly
 
Quote from rock34748:

1st day trading real money and what a day to start. I'm up $87.00 and now out for the day. I feel fortunate but also like I've been drawn and quartered. Got chopped up a few times, stopped out, and 2 small winners. My hand shook so bad the mouse about rattled apart. Nothing like simulated trading. I have a ways to go on the psychology trading. 1 CAR at a time and ES only. I couldn't track any more. Great trading.
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Welcome brother, it's a great feeling ain't it :)

Remember, to protect your account you must above all protect your psychology.
 
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