ES Journal Archive (2006 - 2008)

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Quote from Buy1Sell2:

Thanks for the interest. This answer would be too long, so I'll put it in a list format:
Highlights(some of them) in no particular order would be :
--Long the Soybean Market of 1988
--Short the 87 SP Crash
--Getting the reversal nailed in the Euro futures at the end of 04
--Coming to the realization that the indicators coupled with price were much more objective at determining where resistance and support were than subjective lines (This was big).
--Coming to the realization that option selling, not option buying, was where the money was.
--Long the SP for most of the 90's
--Realizing that the way to win was using extremely low leverage and averaging in
--Long the 93 Soybean Flood Market
--The advent of the Globex etc and electronic trading round the clock

Negatives (and there are very very few really):

--Blowing 40 percent of my account early on before I knew what I was doing(that might actually be a positive)
--letting some bozo talk me into vertical bull call spread as a low risk trade--what a joke
--Paying high commissions initially
--Having to keep my charts manually everyday which took most of the evening.


As to the question about O/B areas on the SP. Yes, it is just looking at longer time frames technicals and knowing that I am generally early when I start getting in.
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Wow! That is some serious experience. Excellent b1s2
 
Quote from pkts:

B1S2,

I'm trying to understand your divergence trading. Do you have any posts you could refer me to?
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I'll post a chart of today's action on the 5 minute chart. This was about as classic as they get. I ignored this today since I am trading the hourly chart and feel we may bounce to the upside. Had I been at max position, I would have been out using a stop, but my position is fairly small right now.
 
Quote from Buy1Sell2:

I'll post a chart of today's action on the 5 minute chart. This was about as classic as they get. I ignored this today since I am trading the hourly chart and feel we may bounce to the upside. Had I been at max position, I would have been out using a stop, but my position is fairly small right now.
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Quote from romik:


I am still curious B1, so you switch on a daily chart, pair it up with RSI and MACD/histogram and look for divergences or is there more to it?
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Yes that's it ---very little else except perhaps double bottoms and tops-- the positional account is mostly on weekly charts.
 
I may have posted this chart before Romik, but this is the type of thing which I look for on weekly charts. This was the divergence that occurred in Late August 1987. --Unmistakable
 

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I don't have very good charting, is it possible to determine the long term trend with the SPX index? I've included the chart below.

I'm having a hard time seeing where you see a divergence to make you long the ES. I can see the divergence with the MACD and the flat RSI just before the drop in May.

Thanks!
 

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Quote from pkts:

I don't have very good charting, is it possible to determine the long term trend with the SPX index? I've included the chart below.

I'm having a hard time seeing where you see a divergence to make you long the ES. I can see the divergence with the MACD and the flat RSI just before the drop in May.

Thanks!
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I was using hourly charts for that. Bullish divergence has not occurred on daily charts or weekly charts as of yet although there was a strong RSI double bottom on daily charts. The hourly divergence was good for about 9 points today, but I gave it back as I felt I could add and we would bounce.
 
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