ES Journal Archive (2006 - 2008)

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Quote from whoispaul:

Surely I agree with your methodology completely, but how can you justify not having had stops (apparently) when you have a black swan like today. The 2% limit would have gotten you out and so what? You can always get back in, but hanging in is not the idea of the inventor, is it?
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Paul, I am nowhere near 2 percent of liquid net worth as a loss. After a couple of forays on the daily chart with going short, I had made the decision to do what I do best which is capture the long term moves on weekly and monthly charts. The area I am looking at as a get out point right now is 1218--1231. It would need to fall below that siginificantly for me to get out or I would need to see extended reversal signs, not a one day deal. In my view this is pullback on those charts. Am I wrong? Maybe, but I am not overextended and that's the key. --I just added long at 1407.00--same size.
 
Quote from Buy1Sell2:

Paul, I am nowhere near 2 percent of liquid net worth as a loss. After a couple of forays on the daily chart with going short, I ad made the decision to do what I do best which is capture the long term moves on weekly and monthly charts. The area I am looking at as a get out point right now is 1218--1231. It would need to fall below that siginificantly for me to get out or I would need to see extend reversal signs. --I just added long at 1407.00--same size.
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You rule.
 
FWIW; in the YM there are several unfilled gaps from 10/06, 9/06, and 8/06, 11930, 11275, 11120 (or there abouts) respectively.

EDIT: Almost forgot... theres the one overhead, from today :)
 
Quote from Buy1Sell2:

Romik, are you still buying breakouts and selling breakdowns? That is fantastic if you are!!
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I am committed to 1439.50-1441.00 range, it was a pain in the ... for a while & as you pointed out prior it can get pretty frustrating & mind games kick in and stuff. But there you are, after days of being in the red & being at breakeven position went ~$16700 up in 1 day, OK today is extraordinary & tomorrow will probably be just as bad, but that in itself can be compared to different level of constipation, the more the constipated period the bigger the bang :)
 
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