ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
- Start date
- Status
Went long at 1242.75. Raised trailing stop to 1244.50 and just got hit as I was writing this 
Not too often. What I try and do is find the next level of support above my entry after the market has moved and place the stop below it so at worst I still make a tick or two. On this move, the 5 minute bars showed some slowing down so I raised the stop to grab 1.75 points if the trend was going to move back lower.
Most pros I hear speak on the subject caution against raising a stop so fast since you may get taken out of a long-trending position on a pullback. I agree but I just saw some steam coming out of the move to 1246 so I raised the stop to at least lock in 1.50. I actually went a tick higher to 1.75 points. Buyers do not look as strong as the sellers so I may have been quicker on the trigger to raise the stop on the long compared to if I was in a short.
Most pros I hear speak on the subject caution against raising a stop so fast since you may get taken out of a long-trending position on a pullback. I agree but I just saw some steam coming out of the move to 1246 so I raised the stop to at least lock in 1.50. I actually went a tick higher to 1.75 points. Buyers do not look as strong as the sellers so I may have been quicker on the trigger to raise the stop on the long compared to if I was in a short.
- Status