ES Journal Archive (2006 - 2008)

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Quote from JimmyJam:

Not today.

The downward drop is being met with more buying-in, not selling-off.

Best Bear trap I've ever seen, wonder if I have time to get some coffee?

Good trading,

JJ
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Congrats on the great day JJ ! Would u educate me pls. on the "buying in " insight ? Thx. ! F.

ps-remember you from Da Charts ? SMAX?
 
Quote from JimmyJam:

Out at 12643, +50 pts.

Total on the day, +80 pts.

The trade may have more room to go, but it's lunch-time and the next trade is right around the corner.

Good trading,

Jimmy Jam
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WTG! :)
 
Quote from fearless9:

More profits come from taking bigger positions and I am not just talking of a handful of lots.
And so......
1 ... Start by producing a steady consistent stream of net daily points.
No losing days.
So, the only unknown now is how many trades it takes to reach your target net points each day.

2 ... Now introduce your walkup plan to steadily increase your position size.
Do not give a thought to scaling or not scaling because by now you are fulfilling step 1 with ease.
If your plan says no more wiggle room than 2 or 3 pts, then that is it.
Pay particular attention to the direction of the market to your limit stops. Is the market driving into them with force on the bid/ask or is it backing into them.

You just do what you have disciplined yourself to do in step 1 and each day increase your lot size by a fixed % of your account.
Work in with your Broker to reduce your margin requirements and your comms, they will not want to lose your account by this stage as they can see your plan at work.

It is important to lower your margins as you do not want a dime more in your account than is required to sustain your plan.

Most importantly, give serious thought as to your course of action if the CME closes on an 100+ lot open position.
Yes I know that you have a 3 point stop in there. Just keep thinking about it.
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Trade with the proper size account to support a 100+ lot position so that even a 10% gap against you should just be a blip in your equity curve.
 
Quote from wave:

Trade with the proper size account to support a 100+ lot position so that even a 10% gap against you should just be a blip in your equity curve.
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Do you mean a 10% gap on price?

1450 *10% = 145 pts
145 *12.50 = $1812.50
@ 100 lots = $181,250

Good to see that you are thinking at a higher level Wave.

This is what you have the negoiate with your Broker, otherwise you are going to wind up with a lot of dead money in your account ..... good for your Broker and no good for you.
 
From Oscar

1:57 PM EST

4TH FLASH UPDATE
S&P 500 & EMINI 11:44:01 AM MST

I JUST TOOK PROFIT ON HALF OF MY SHORT S&P EMINI SHORT POSITION AT 1449.00.

CANCEL REPLACE YOUR YOUR BUYS STOPS DOWN TO 1455.25 .
BE SURE TO BE OUT BY THE CLOSE
 
Quote from fearless9:

Do you mean a 10% gap on price?

1450 *10% = 145 pts
145 *12.50 = $1812.50
@ 100 lots = $181,250

Good to see that you are thinking at a higher level Wave.

This is what you have the negoiate with your Broker, otherwise you are going to wind up with a lot of dead money in your account ..... good for your Broker and no good for you.
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yes, 10% gap on price.
 
and if your trading the globex 100+ lot size with the improper account size, it would be wise to have a broker with pit access.
 
I have gleaned a lot of information from reading this thread off and on. However, with over 1300 pages I am afraid I do not fully understand the trading methodology fully employed.

Is there any chance someone can post a file outlining the basics? In the meantime, I will continue to read... page by page.
 
Quote from aspenboy:

Congrats on the great day JJ ! Would u educate me pls. on the "buying in " insight ? Thx. ! F.

ps-remember you from Da Charts ? SMAX?
More...

Nope, that was a different Jimmy Jam, I've only had this nome de plume for ET.
***
Even though the TRIN is high and the VXO is up, all of the financial indices are holding strong, the Bankers are holding strong ... plenty of other stuff, but that'll do for now.
***
Long YM @ 12645, PS @ 12595

Good trading,

JJ
 
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