ES Journal Archive (2006 - 2008)

[osorico]

Quote from Buy1Sell2:

Trading the channel though requires a profit target at one side of the channel--is that right?

I am not suggesting to become a channel trader. Unless that is how YOU trade YOUR system. I am saying "Don't swing for the fence." If you want to pick tops and bottoms, you are swinging FOR the fence... Life as a daytrader will be short-lived, according to probability.

 

[Buy1Sell2]

Quote from spike500:

Trading channels is dangerous because when the market is really trending it will constantly break the channel and give false signals.

This has been my viewpoint as well, but I am looking to pick up some insight from Osorico on the channels. I am curious as to how he catches trends when taking a somewhat predetermined profit. Maybe I am misunderstanding his idea. Anything you can offer here Spike is certainly welcome.

 

[osorico]

Quote from Buy1Sell2:

This has been my viewpoint as well, but I am looking to pick up some insight from Osorico on the channels. I am curious as to how he catches trends when taking a somewhat predetermined profit. Maybe I am misunderstanding his idea. Anything you can offer here Spike is certainly welcome.

For me, there is something comforting about the "Closed PnL" column. And there's nothing wrong with re-entering (or adding) to a trade with another signal. The topic really is YOUR style, YOUR signals, YOUR trade/money management.

What works for me (or anyone else for that matter) likely won't work for you. Especially since you have predeterminations of how things work. Besides, If I tell you I'd have to kill you and then myself.

Osorico


BTW: I've been short YMM6 since 088... the BREAKDOWN of what you are calling a channel. It's been my only trade today. With an ultimate target of about 005. Will it get there, I don't know. Will I let a majority of profit evaporate... no f'n way!

 

[Buy1Sell2]

covered short at 1285.75 4.25 pts times 2 = 8.5 pts profit---looking to short again

 

[Buy1Sell2]

short at 1288.00 === one unit

 

[ForrestGump]

Quote from Buy1Sell2:

short at 1288.00 === one unit

Nice call.

BTW, rollover days can be a bit disorienting for indicator-based traders - especially because of the way most data-providers patch up the two contracts.

Good luck.

 

[Buy1Sell2]

covered short at 1284.00 4 pt profit looking for new short

 

[Buy1Sell2]

day 6 results

8 trades 3 winners 5 losers

profit .25 pt =$12.50
Total commission=$87.78
Net loss= $75.28

 

[murray t turtle]

Quote from Buy1Sell2:

As an aside, positionally, I will be looking to sell the June 1350 calls today at bit higher price than now

=============
With reasonable position size, might do better over time with those;
even though ES & underlying stocks are still uptrending fairly well./medium/long term trend.
Weekly trend favors polar bears some.

However as Spike500 was hinting about ES probabilities;
sounds better on options.
Besides many trade/buy options like I hunt gamebirds;
they hope to get meat,
but trade mainly for fun,
which favors you.

 

[PitchBlack]

Quote from Buy1Sell2:

day 6 results

8 trades 3 winners 5 losers

profit .25 pt =$12.50
Total commission=$87.78
Net loss= $75.28

You took the important moves, but you also took too many losing trades and too big losses per trade.
Perhaps try to analyse your signals better and only take the very clear signals. You give back to much in your losing trades. My system filtered two shorts and one long. So 5 trades less than you did. But i made money thanks to the fact that the three trades were profitable. I also NEVER take a loss bigger than 2 points.