ES Journal Archive (2006 - 2008)

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Quote from porgie:

b1b2...........let me say that i trade ym only now.........have traded too many tiems the es and nq as i was developing system an dit took too much from me as system was evolving........financially and emotionally.........all my fault......greed has never bgeen by problem......ignorance is.....all i say is really YM pertinent........but fits others with adjustments......please don't be offended as i am a little bit on edge and think grandpa is supposed to lead the way.........excuse please......
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not offended at all--I read comments with enthusiasm and interest.
 
Quote from romik:

A bit off subject here, since you mentioned Fixed Rates deposits. Have you looked into the Silver market? I don't trade silver futures, I don't see how anyone independent can trade them successfully. But I have invested in physical silver though, I follow Ted Butler's analyses, he is incredible, the only analyst I have great respect for, also my cousins co-own a silver mine.
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I have not looked into Silver at all. I believe it to be a market that is still manipulated to some extent. There is usually a net short commercial position in Silver which is suspect to me.
 
Quote from Buy1Sell2:

short here at 1296.75 --one unit

bearish divergence in both histogram and RSI--using 3 minute chart against george's advice for longer term chart for now. RSI also featured a failure swing. Need to break 1296 here which is the 20 period MA.--Negative for the trade of course is the rising MA .
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trailing stop at 1296 even now. using a trendline here for trailing stop. Stop is above trendline.
 
out at 1295.00 for now. market too enamored with 1293 in my view. 1.75 pt profit.--Need to be away from screen for a bit--probably miss a big move--can't have everthing.
 
Quote from Buy1Sell2:

trailing stop at 1296 even now. using a trendline here for trailing stop. Stop is above trendline.
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it looks like your stop will be triggered, though more to close gap than reverse from here...not sure though

EDIT: and down we go for a point or 2 11:05
 
Quote from Buy1Sell2:

The market must make an attempt, or perhaps several tries at 1300 to the upside. The bounce here is very natural. Longer term, this will fail.
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ya...but that depends on the definition of 'longer term', for today at least, so far, I have a buy signal in the secondary, nothing in the primary. Also, with no clear daily range so far, 1-2 points is a result in my opinion.
 
Quote from romik:

ya...but that depends on the definition of 'longer term', for today at least, so far, I have a buy signal in the secondary, nothing in the primary. Also, with no clear daily range so far, 1-2 points is a result in my opinion.
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Yes I agree- the signals are not entirely clear today. One of my rules of ES is that it seldoms tests the same support or resistance more than twice in sucession without breaking through or reversing. I have modified that from the 60 minute chart to include any time frame. Yet, I did not take that signal at 1293 earlier today . I covered at 1295. I'll have to be a little more bold with that in the future. In any event though, we have already seen one attempt today fall short of the 1300 target that bulls want so desperately to break back through quickly. I expect more of these.
 
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