ES Journal Archive (2006 - 2008)

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i'm done for today, mental fatigue is setting in, even with coffee on board. But it looks like a neutral close.

Looking at the character of the world markets, even though a lot of wealth has evaporated, I think this will just be a momentary blip in the scheme of things.

But keep an eye on your newswires, bad news can gap it down, but the marketplace will get used to bad news, and further news has to come in at a extreme to push it lower.


Asia should try to retrace up tonight, so spoos should have a upward bias for the close, so they can sell it higher during asian session.

later folks.
 
Quote from Spectre2007:

i'm done for today, mental fatigue is setting in, even with coffee on board. But it looks like a neutral close.

Looking at the character of the world markets, even though a lot of wealth has evaporated, I think this will just be a momentary blip in the scheme of things.

But keep an eye on your newswires, bad news can gap it down, but the marketplace will get used to bad news, and further news has to come in at a extreme to push it lower.


Asia should try to retrace up tonight, so spoos should have a upward bias for the close, so they can sell it higher during asian session.

later folks.
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Yeah I hear you especially about the fatigue, but that's OK, I try to get everything as automated (in my mind) as possible, and part of that is just working through it.

Though precarious, and the longer timeframe definitely has not signaled a reversal of fortune. I think the market may be trying to bottom, short-term.

But I don't know it for a fact.

Let's see if yesterday's Lows can hold.

Good trading,

JJ
 
Well, it's holding for all the indice, I have completely neutral reading on the indices/internals, notes are on their way down, I'm jumping the gun but I went Long @ 1384.25, PS @ 1381.25

Bad habit, but your best trades will never be confirmed.

Good trading,

JJ
 
long here at 1382.50 stop at 1381 looking for a move up to 1402.

1.50 stop for 20+ point profit target.

If only trading was this easy all the time... Nice risk reward with a good probability. Cant pass it up.
 
Quote from apex82:

long here at 1382.50 stop at 1381 looking for a move up to 1402.

1.50 stop for 20+ point profit target.

If only trading was this easy all the time... Nice risk reward with a good probability. Cant pass it up.
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ha ha, yeah, I saw those divergences all over the place, which is why I jumped the gun on that one (not recommend!).

But trade confirmed, so based on the previous trade's price action and some reviewing I did while I watched it go higher and higher without me (never a good feeling), there are only three things that can happen:

1. I get stopped-out (normally on a scalp you should use 2pts (because that's the least that most scalps will give you) for 3pts - higher volatility.

2. The trade goes slightly in my favor, does a stalled engine roll and drops back down (but this should give a signal to close the trade, albeit at a small loss).

3. Trade moves strongly in my favor until a signal to close the trade (optimal :D ).
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I belive the market actually only does one thing, and that is move in one direction, and then reverse. It does this with constantly increasing/(decreasing) volatility, but that is the only pattern I consistently see played-out in all markets, across all frames of reference.

Good trading,

JJ
 
Quote from JimmyJam:

ha ha, yeah, I saw those divergences all over the place, which is why I jumped the gun on that one (not recommend!).

But trade confirmed, so based on the previous trade's price action and some reviewing I did while I watched it go higher and higher without me (never a good feeling), there are only three things that can happen:

1. I get stopped-out (normally on a scalp you should use 2pts (because that's the least that most scalps will give you) for 3pts - higher volatility.

2. The trade goes slightly in my favor, does a stalled engine roll and drops back down (but this should give a signal to close the trade, albeit at a small loss).

3. Trade moves strongly in my favor until a signal to close the trade (optimal :D ).
***
I belive the market actually only does one thing, and that is move in one direction, and then reverse. It does this with constantly increasing/(decreasing) volatility, but that is the only pattern I consistently see played-out in all markets, across all frames of reference.

Good trading,

JJ
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Ya, I have always lost money chasing markets... sometimes it works out but it never outweighs the losses, at least for me.

Its trying to wash out the zone.. it has to get back above 1834 in a hurry or I will probably bail on the trade. I like tight stops because I am accurate enough to trade that way. If it goes below 1381 then it is negating my zone and my plan. Therefore I would just be in hope and pray mode.

Any move above 1385 would confirm the zone and would increase the odds of hitting 1402 in a big way.
 
Porge, you revealed the goldmine on this thread many times over and over and these fools can't even play nice with you. They don't want the goldmine if it means they have to work for it. They want the real-time calls so someone else does all the heavy lifting. ET has nothing to do with trading, its all comedy and entertainment so please don't take these guys too seriously.
 
Quote from JimmyJam:

Apex's Before
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Its missing the entry at 1382.50

Low was 1381.25

I am moving stop from 1381 to 1380.75 so the risk would be 1.75 points.
 
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