After two wipe outs on long grails, I am on the simulator
will prepare for tomorrow.
will prepare for tomorrow.
ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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The trend is your friend
the trend is your friend
the trend is your friend
how did that go again, 23 points......
arghhh
2 grails stopped out
the trend is your friend
the trend is your friend
how did that go again, 23 points......
arghhh
2 grails stopped out
I am not too friendly with trends EDIT: when I am late to the party, it would have been different if I was to see the move, then I would have stayed with the day's direction. In actual fact the signal that I use pointed to a long, I got stopped, very soon afterwards I realised that this is going to be a trend day, again there were signals, but they were Long ones, I don't take them on a day like today. I did want to join the short side, but the signals that I follow were in the opposite direction. I hope that makes it clear why I didn't profit today.
I was out of pocket all day today and just checked in on my accounts. I did reenter long last night and my stop was hit (on the intraday trade) at 1398.75. So , the overall trade from Fri was a small loss. I was not in a position to place any other trades today, but would not have anyway since I am looking for longs only right now. I will not be looking for shorts until 1365.50 is broken closing is below that area.
Would you have taken any longs today? I know it's easier in hindsight, but I know you would or wouldn't have done it anyway. You see, I have this guilt for not joining the trend today for the reasons mentioned earlier on. I know I made the right decision not to go long at any point, apart from the very first trade.
Until the weekly chart gives way to a more pronounced downside appearance, then long should be the bias. Buying these dips when they show renewed strength is the preferred route at the moment. If they don't show renewed strength, then don't buy em just to be buying em. This is pullback for now.
Analysis paralysis is never good in trading. Don't feel too bad, at least you did not short at 1402 and cover at 1398 like some people did.
I was bearish for the day due to historical thanksgiving data but felt the need to take long counter trend trades which only netted a few points on half and got stopped out at break even on 1 full position loss of 2 points, but there is always tomorrow, and longs don't die easy.
Today was one of the worst trading days I have had.
Off on everything, including and specially today's ES's selloff, which was a gift and I missed it in it's entirety.
*********
Thank goodness for tomorrow....
Off on everything, including and specially today's ES's selloff, which was a gift and I missed it in it's entirety.
*********
Thank goodness for tomorrow....
Quote from volente_00:
Analysis paralysis is never good in trading. Don't feel too bad, at least you did not short at 1402 and cover at 1398 like some people did.
I am not that disappointed as I only managed to lose a couple of points, when before I would have probably lost a bit more fighting the trend. I guess the beauty of shorter time frames is in their ability to provide all signals "good and bad" ones, longer TFs fail sometimes, but on another hand they keep a trader out of trouble and do provide more solid opportunities on many other occasions, I was just frustrated that I did not evaluate the importance of what happened to USD last week, but then again I could have entangled myself in matters I do not fully understand.
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