ES Journal Archive (2006 - 2008)

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Quote from romik:

I only follow candlestick charts, to me they provide easier/faster referencing compared to bar charts, especially so when constantly monitoring 10 open charts...not keen on line charts at all to be honest with you.

EDIT: A bit of a Déjà Vu today...is it Friday or Tuesday today? I can almost visualise Spike sitting on his trade at the moment :)
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I was wondering the same thing. There is good potential for more downside, so it may be the right thing to do. The thing has mostly kept me from staying short is the decidely intraday bearishness suddenly of the GECM6 contract. Typically the GECM6 rises and ES falls. If both GECM6 and ESM6 tank, I would find that to be bearish for conituation in ES. Don't ask me why--it just seems that they are correlated that way more often than not.
 
My ultimate goal would be to have 3 primary systems, when they are fine tuned to perform in unison, just imagine how reliable the overall performance could be. It's like putting together 3 very successful day traders, each using his own proprietary system and making joint decisions on entry/exit times. How CAN you go wrong?
 
The 3 minute chart is certainly pointing to a sell here. With fairly tight stop of course. We are getting progressively lower Histogram peaks. Fairly tight stop needed here with this rangebound area. Negatives for a short here would be the higher peak in RSI on the 3 minute and also the OS look to the 12 and 60. The 12 is actually staging a bullish divergence albeit a class B. We may need to bump off the 20 period MA on the 12 minute chart to get more downside, today anyway.
 
Quote from Buy1Sell2:

The 3 minute chart is certainly pointing to a sell here. With fairly tight stop of course. We are getting progressively lower Histogram peaks. Fairly tight stop needed here with this rangebound area.
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I would actually use a mental stop at 1299 level (use a market order for a stop) and adjust the position size accordingly, reasoning the stop on 15 min chart 10:30 bar high level.
 
Quote from Buy1Sell2:

The 3 minute chart is certainly pointing to a sell here. With fairly tight stop of course. We are getting progressively lower Histogram peaks. Fairly tight stop needed here with this rangebound area. Negatives for a short here would be the higher peak in RSI on the 3 minute and also the OS look to the 12 and 60. The 12 is actually staging a bullish divergence albeit a class B. We may need to bump off the 20 period MA on the 12 minute chart to get more downside, today anyway.
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We came within 1 pt of bumping the 20 period MA at 1297.22 on the 12 minute before the turn down. Now I think the issue becomes "Can we rally and break through or is there more past 1292.50". I am not in right now except for the positionals.
 
Quote from thebuzzkill:

Do you think that we will see an uptrend from here
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A bounce is easily suggested by charts and indicators from here. Uptrend I don't know about --that could be a rather strong characterization, but certainly could be a bounce although it may be small. I am staying on the side for now, but have the long term short bias still well in place . I don't like the probablity of an extended upturn today.
 
Quote from Buy1Sell2:

We came within 1 pt of bumping the 20 period MA at 1297.22 on the 12 minute before the turn down. Now I think the issue becomes "Can we rally and break through or is there more past 1292.50". I am not in right now except for the positionals.
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I noticed today that the 20 period MA on the 12 minute chart was bumped twice more today at 1295.50 before another downturn. I will file that away in my memory for future use. Each day adds new learning to the skill level. One could have played it either way. There were points 1,2 3 etc that could have been made from the long side on bounces, AND there were points 3,4,5 etc. to be made by selling the bounces.
 
actually b1b2 i think u r looking at too much information........our brains assimilate what we see........ information overload tends to bog us down to the point where we won't pull the trigger for too much longer until we have to regroup.........i suggest you slowly but surely cull the weak stuff and keep the strong........weak on my end is now 90% accuracy stuff.......i would say start at 70%..stuff....don't buy into the keep the losses short and let profits run.......and then the losses don't matter...........huge bunch of crap.......losses tell the mind failure ...U R FAILURE.........take the good stuff thru the paces each day.........until a simple little thing happens.....you grow strong confidence in the good stuff and learn how to make it better......crossings, angles {45% min} buy the dips and sell the rallies, keeps u trading with the trend usually........that is deadly important .........going the same direction as the freight train is moving..........no, you don't have to enter so early it rattles your nerves, either........i used to think that........i will get the usual attacks now from posters but porgie is where porgie worked to be for 5 years.........and he is more than happy........and the above is not new stuff, it is old school, and old school works if you spice it up a little bit........by the way, any charts shorter than 10 min for intraday is not the answer.......emphasize not....
 
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