ES Journal Archive (2006 - 2008)

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no one knows where the market is going.....the daytrader/intraday trader should never care........when h e gets to the "don't care" stage he is ready to make money.....the only concern he should have is to be alert when the signal/s show up.....there are so many dependable systems out there it is ridiculous........the rare traders who always make money are ridiculously few and far between......not saying i am or am not.......i don't count except to a limited # of people........trader or otherwise........as mark douglas says "carefree trading".....is the answer .........not careless/reckless trading.........carefree only can come once emotional stress is close to zero.......that is almost impossible for most......that takes more than most of us will ever have......these are things u will learn to be true if u stay with it long enough.......emini speaking only......and spike is more correct than most believe about bringing others to his trading...programmers /etc.....even most family will try to sneak off with the goodies, most of the time.....human beings not too different basiclally........most of us would and rationalize somehow that is not wrong........money first, ethics last.........same with calling trades........some on forums bash when one won't post trades live......the ones bashing are the ones that dont have the goodies...... the one with the goodies ain't going to show the world HIS EDGE......
 
Quote from BoyBrutus:

SOX is giving a bulish divergence here dont know how long the correction up should last but EU markets are up 1.5%
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thanks, noted. though i would still hold a short here, will out at entry anyway. BTW you mention Europe, I was under impression that all of EU pretty much follows US markets, am i mistaken?
 
Quote from romik:

thanks, noted. though i would still hold a short here, will out at entry anyway. BTW you mention Europe, I was under impression that all of EU pretty much follows US markets, am i mistaken?
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Long at 1265.00 Stop at 1264.50 More bullish divergence with SOX.

Remember when Dax was down 3% and we were only down a little and I said maybe we will have a 2% down day the sentiment can swing the market towards the end of the day. Thre intraday movements may track the S&P but It can give a bigger picture of whats happening as long as it is confirmed by the charts.
 
Flat at 1266.75 There was some good buying but volume is getting low. If I had multiple contracts I still would let one ride here and would have unloaded one at 1267.50 on that buying spurt.
 
So Dax has a strong close up 2% and CAC and FTSE up 1.5%. S&P is up 1/2%. With yesterdays OK close and the double bottom on the ES some upside here is possible.
 
Quote from porgie:

no one knows where the market is going.....the daytrader/intraday trader should never care........when h e gets to the "don't care" stage he is ready to make money.....the only concern he should have is to be alert when the signal/s show up.....there are so many dependable systems out there it is ridiculous........the rare traders who always make money are ridiculously few and far between......not saying i am or am not.......i don't count except to a limited # of people........trader or otherwise........as mark douglas says "carefree trading".....is the answer .........not careless/reckless trading.........carefree only can come once emotional stress is close to zero.......that is almost impossible for most......that takes more than most of us will ever have......these are things u will learn to be true if u stay with it long enough.......emini speaking only......and spike is more correct than most believe about bringing others to his trading...programmers /etc.....even most family will try to sneak off with the goodies, most of the time.....human beings not too different basiclally........most of us would and rationalize
somehow that is not wrong........money first, ethics last.........same with calling trades........some on forums bash when one won't post trades live......the ones bashing are the ones that dont have the goodies...... the one with the goodies ain't going to show the world HIS EDGE......
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Good post ,Porgie..............& accurate on all points!
 
spike........i really like your stuff....i believe you are on top of your game and in control of your business...... ...but the only certainty u or anyone else has is death.......not money.........the long term might be the next 10 seconds......or shorter........but i see your point if we live a while longer........notice the if..........if excludes certainty.....if is the biggest word in the world..........i hope you live forever and make many millions.......keep up the good trading and discipline............
 
Quote from Buy1Sell2:

Hourly Bearish Divergence on the Macd Histogram and RSI. Short at 1259.50. Divergence is a Class B on Histogram and Class C on RSI.
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Added one short unit here at 1269.50 on the 15 minute chart bearish divergence
 
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