ES Journal Archive (2006 - 2008)

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Quote from porgie:

the market u r trading is narrow range........es...........5 years ago the average run was 20 pts range...........average.........nasdaq was a really wild one back then...........huge runs...........
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This is very true--it's one of the reasons I feel that this is a retracement of a longer term bear move as opposed to us being in a bull market.
 
Quote from Buy1Sell2:

not today maybe , but I think soon don't you? If it doesn't test 1300 any better than this, then the market was weaker than even I thought. A 3 minute chart has a very distinct upward reversal pattern going on, but it is just so lackluster right now, you wonder if you should bother.
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The reversal pattern proved to be valid, but just for a couple of points.
 
someone mentioned tomorrow probably not much action...........never bias the mind .........only take the signals.......no external information alllowed by my rules.....once the system is proven to be very dependable and u have enormous confidence it what it tells you, take the trades..........by keeping the YM stops never over 10 and prefer 5 or so, t hen you should not care if bernanke speaks or the world flips upside down...... you won't lose but a speck.........who cares.........unless and until the loss doesn't rattle our nerves, we won't move forward..........keeping th e loss small and knowing that the risk/reward of 1 to 3 is always there, we will put fear where it belongs, in a very small corner of our minds......we used to default 10 pt stops ES.........disaster time........lost 35,000 one fine day.......never moved stops.......boss was gambler....porgie doesn't gamble.........2 pts is plenty on Es....10 ym and 5 nq
 
Quote from porgie:

someone mentioned tomorrow probably not much action...........never bias the mind .........only take the signals.......no external information alllowed by my rules.....once the system is proven to be very dependable and u have enormous confidence it what it tells you, take the trades..........by keeping the YM stops never over 10 and prefer 5 or so, t hen you should not care if bernanke speaks or the world flips upside down...... you won't lose but a speck.........who cares.........unless and until the loss doesn't rattle our nerves, we won't move forward..........keeping th e loss small and knowing that the risk/reward of 1 to 3 is always there, we will put fear where it belongs, in a very small corner of our minds......we used to default 10 pt stops ES.........disaster time........lost 35,000 one fine day.......never moved stops.......boss was gambler....porgie doesn't gamble.........2 pts is plenty on Es....10 ym and 5 nq
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Porgie...
I've read your posts in the YM and now this thread. Gotta tell you, this was your best post yet. Very direct (for you) and to the point.
:)
 
3 minute 12 minute and 60 minute all working today. Can't miss the initial downside especially if awake during the early morning hours.
 
nearly the same upside reversal pattern presented itself today on the 3 minute chart--- Bullish divergence of the RSI and Histogram including the second trough of RSI being a failure swing .
 
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