ES Journal Archive (2006 - 2008)

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Quote from Cariocas:

That's the beauty of basing setups on risk. It all depends on the target. I like 3:1 and lucky if I get it. So on a trend day (long) like this I'd never dream of shorting-the risk/reward would keep me out. Let's say I'm risking 1ES point ($50), looking back in previous similar days, did the pullbacks (shorts) provide +3pts. to justify entry? Or how about going with the trend (longs) and figuring out if the afternoon continuation might tilt that risk/reward to more than 3:1 in my favor. Just some food for thought.

Cariocas
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some traders would hold on to a position much longer than others, my current approach is to try and lock in profits, I was long from yesterday afternon and closed this morning, entered short, covered and now long again.

I understand where you are coming from though.
 
B1, I know you do not use CCI, but check out a really amazing BLD that occurred on 60 min chart Mon to Tuesday

EDIT: I know it's a trend today, but I've closed the long now and will probably miss the move, but I just do not like RSI formation on 60 min, looks like a BRD and also in CCI almost a double top above 200 Wed-Thursday
 
Quote from romik:

Triple (quadish) BRD on 1 (TM) :) RSI and b class histogram, let's see how that one works for a reversal on a trend day.
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it didn't, I had very little hope for it to work anyway, it's the longer frames that worried me, now there is a BRD on 60 min chart in CCI and RSI is getting there as well, I am short just 1 lot here @ 61.75
 
Quote from romik:

B1, I know you do not use CCI, but check out a really amazing BLD that occurred on 60 min chart Mon to Tuesday

EDIT: I know it's a trend today, but I've closed the long now and will probably miss the move, but I just do not like RSI formation on 60 min, looks like a BRD and also in CCI almost a double top above 200 Wed-Thursday
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I'll take a look at it. Sorry I haven't posted much today
 
Quote from romik:

...now there is a BRD on 60 min chart in CCI...
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that was actually incorrect as the bar has not completed on 60 min, therefore it was not a completed pattern, apologise
 
Quote from romik:

it didn't, I had very little hope for it to work anyway, it's the longer frames that worried me, now there is a BRD on 60 min chart in CCI and RSI is getting there as well, I am short just 1 lot here @ 61.75
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I'll take a look at this too. My charts just said long all day and I didn't see shorts today. It may be that the very short term trader is ok trading against the trend as long as they use a small profit target. So you probably have been ok when you shorted as long as you weren't too greedy.
 
Short @ 1250. Going to hold this overnite and roll it over into the Septembter contract. They got exactly to the 200 day moving average. Action around this will be the key. B1S2, your postional trading is truly spectacular.
 
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