ES Journal Archive (2006 - 2008)

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Quote from romik:

Nice one

EDIT: Where do you see support? I would take profits @ 1294.50 level
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The system as it is right now, doesn't look at S/R. It just looks for reversal points as the place to take profits/losses. Bottom line answer to your question is--I don't know.
 
The trades and calls that I will be making here for the next day or two or week will be paper trades as I work with this simplistic idea. I will not be counting them in the journal results. I will notify when I am back to real money.
 
Possibilities also depend on time frame and price targets, it is clear to me Spike, that your system establishes high probability for the day's range.

But, considering performance over the last week, it would be quite safe to assume that there is strong resistance @ 1300.00 level, creating shorting opportunities near that price range.
 
Quote from thebuzzkill:

Why would you say impossible? Just curious
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My system says it is impossible to me to go short at this moment.
It calculated that the trend still is long. Based on stats, the probability that the system is right is very high. So i follow my system blindly, even if i would think that we could go lower. Thinking has been replaced by following the system.
Following the system will give in long term the results as calculated by the stats.

EDIT: staying long doesnt' necessarily mean higher exit. It means that the risk/reward ratio is more favorable for a long at this moment.
 
Quote from spike500:

My system says it is impossible to me to go short at this moment.
It calculated that the trend still is long. Based on stats, the probability that the system is right is very high. So i follow my system blindly, even if i would think that we could go lower. Thinking has been replaced by following the system.
Following the system will give in long term the results as calculated by the stats.

EDIT: staying long doesnt' necessarily mean higher exit. It means that the risk/reward ratio is more favorable for a long at this moment.
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thanks
 
Uncertainty of the situation with Iran and Oil over $71 I just don't see strong interest from buyers, Citigroup's Q1 results beat estimates, resulting in S&P being up (from what I can make out) mainly on C's report...not trading today, though I do see another sell off being upon us.
 
Quote from Buy1Sell2:

The system indicated a short at the end of the 10.18 bar(10:30) at 1297.75--lower second RSI peak which also constituted bearish divergence.
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The system generated a short signal at the third lower RSI peak at the end of the 10:54 bar (11:06) Price was 1297.25 at the time. System has not generated a long signal since my first post. Again--working with the system papertrading at the moment.
 
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