ES Journal Archive (2006 - 2008)

[OldTrader]

Quote from Buy1Sell2:

I entered some yesterday that are long termers and the trades I entered today are based upon the hourly chart posted earlier and will be sold when that pattern dries up. Hopefully with a profit. Hopefully with a big winner. My stops on the hourly chart trades were and still are at 1414.75. My stops on the long termers are at 1372.50 basis March.

Thanks for the answer. One more question. When you add to your long term position (I believe I read that you are long from much lower levels), do you set a new stop for the add-ons? Or do you have a combined stop for all the long term contracts regardless of time of purchase? In other words, if we were to trade down to 1372.50 would you liquidate all of your long position?

Thanks again.

OldTrader

 

[volente_00]

Quote from elbow:

volente.......10:30 is coming ...10:30 ISCOMING...SCREAM I T OUT NOW REVERSE REVERSE EXACTLY AT 10:30............GET THE DEFIBRILLATOR OUT, HURRY....

What happened at that time today porgie ?

 

[Buy1Sell2]

Quote from OldTrader:

Thanks for the answer. One more question. When you add to your long term position (I believe I read that you are long from much lower levels), do you set a new stop for the add-ons? Or do you have a combined stop for all the long term contracts regardless of time of purchase? In other words, if we were to trade down to 1372.50 would you liquidate all of your long position?

Thanks again.

OldTrader

Stop stays the same for all long term positions including the add ons. Most of my add ons are at much lower levels as I try to add smaller amounts the higher we go. This way I will not have my head handed to me or get shaken out too quickly. Great question!

 

[whoispaul]

Quote from Buy1Sell2:

I entered some yesterday that are long termers and the trades I entered today are based upon the hourly chart posted earlier and will be sold when that pattern dries up. Hopefully with a profit. Hopefully with a big winner. My stops on the hourly chart trades were and still are at 1414.75. My stops on the long termers are at 1372.50 basis March.

Since you use trailing stops why would your long term stop not be below the lows of Nov 28 at around 1390 instead the previous lows on Nov 3 at 1377? Or move them along the upward slope to say now at around 1407?
Thanks
Paul

 

[Buy1Sell2]

Quote from whoispaul:

Since you use trailing stops why would your long term stop not be below the lows of Nov 28 at around 1390 instead the previous lows on Nov 3 at 1377? Or move them along the upward slope to say now at around 1407?
Thanks
Paul

I am using the 11/28 low from the continuation chart.

 

[Buy1Sell2]

adding a bit more on the swing trade long here at 1422.75

My favorite pattern is evident on the 10 minute chart.

 

[brightstone]

volente,
what does it look like for your 10:30?
Back down to retest the bottoms?
Close the Gap?

 

[Buy1Sell2]

stopped out 1415.25-- only positional longs on for now along with some short out of the moneys.

 

[elbow]

"out of the money"is option terminology but doesn't mean losing money.................out of the money futures trading is new term for me....for you does that mean same as underwater or losing correct.? not meant to be critical.....if we can't tolerate losses we will never make it in this business......B1 can tolerate losses and going underwater...........imho

 

[Buy1Sell2]

The daytrade loss was small. When I refer to out of the money's, I am referring to my short call sale program which is where I derive my handle. When I have ridden a market for a profit, I begin selling short calls for added income and a hedge. I am far from underwater.