ES Journal Archive (2006 - 2008)

Status
Not open for further replies.
Quote from spike500:

What you did today confirmed my story about the swimmer.

The trend was already short at the opening. You went long, against the trend. You had problems to make 0.5 points with a risk (stop) of 3.75 points.
Then you reversed your position and went short, with the trend. You made 10 points with a risk (stop) of 3 points.

So, against the trend you had to struggle to survive; with the trend you took 10 points with little effort.
Or in other words: with the trend 20 times the profit of the long with 20 % less risk.
More...

correct. But I would say that I am never struggling to survive. This is why I start small with my probe trades and then I add. I didn't have to add today. My ability to stay in the market is my edge over other traders.
 
Quote from Buy1Sell2:

correct. But I would say that I am never struggling to survive. This is why I start small with my probe trades and then I add. I didn't have to add today. My ability to stay in the market is my edge over other traders.
More...

I didn't mean struggle to survive, but struggle to make a decent profit by trading against the trend.
 
Quote from Buy1Sell2:

long one unit at 1277.75 stop at 1271.75
More...

Hi Buy1Sell2,

if you got some time left after the close, could you please explain your system more in detail, maybe post a chart? Tia!

Saico
 
sold long and went short 1276.75 --1 pt loss--- stop is now 1280.50 ----playing with different time frames today to get a better feel for what I want to do in the future.
 
Quote from spike500:

A swimmer has to swim 1 mile in streaming water, which direction will he swim? With the flow or against the flow?

If he swims with the flow he will cover the distance fast, with little efforts, with almost no risk that he will be forced in the opposite direction, and even if he doesn’t swim but just keeps floating, he will automatically cover the distance carried by the streaming water.

If he swims against the flow he will maybe cover the distance, but it will take a long time, lots of efforts, lots of risk and he might be forced in the opposite direction by the power of the streaming water. He might even get so tired that he will drawn.

The same rules apply to trading, but many traders break these rules. These traders will be in the long run the losers.
More...

yes - sounds easy - but unlike the streaming water, the market can change its flow very fast. so - to go with the flow (the trend) - you first have to know (find out/guess/etc.) what the trend is going to be in the next minutes/ hours/etc. if a trend is nearing it's end - it (from a physical viewpoint) already accelerates in the opposite direction - and this is something you should first recognize in order to "go with the flow".
 
Status
Not open for further replies.
Back
Top