ES Journal Archive (2006 - 2008)

[4re]

Quote from Buy1Sell2:

Might be a good idea! Anyway though, we are doing what's important to us and that is making our analyses and trades in real time which opens us up to being wrong. This is more like how the market actually works and I prefer that don't you? You are correct that we get less views, but I would assert that the views we get are from people who are interested in learning something from what we are doing. It might be that they are learning what not to do, which is ok as well. If we are helping even one or two people, then it is worthwhile. I agree that pictures of PnL are not what I am interested in as they mean nothing when not in real time. What does interest me is the thought process that goes into making a trade whether right or wrong. One thing to note: very few people actually take the time to do the study and practice that will make them good traders. This is why 90 percent or more fail.--That and getting overextended.

B1S1,
You and Romik are right. I think you guys should be pretty happy with your current group. I think most of the ET guys that come here and look but don't post is because they don't have anything good or bad that they can add to your journal. I think this journal is and always has been top notch. I always look to this journal to see what you guys are seeing. But I, like others don't have anything good or bad to add so I shut up. Keep up the good work.

GL,
4re

 

[Buy1Sell2]

Re-entering long this evening. 10 units.

 

[Buy1Sell2]

Quote from romik:

do you think support that has held on 3 occasions (I think) at "AREA 51" so far, could lead to believe that some major participant is holding a long position there and does not want that level broken, it is possible, isn't it?

If he is just holding though and not buying more, then I don'see how that area could be protected unless others are aware of this position and are buying there in anticipation of defense. This is more than I can comprehend. When I start trying to think what or who is motivated at a certain level, I am almost always wrong, so I don't do it.

 

[ae_trading]

Seems to me to be more of general market indecisiveness leading up to the next FED meeting.

S&P has been sorta forming a triangle as it keeps trading in a tighter range all last week.

When I see rangebound action like that it tells me to be ready for a nice move. Once the market shifts away from the range, the losers will be forced to close positions in the direction of the move, thereby putting even more pressure in that direction. (That was the extended version of why breakouts can sometimes be profitable trades haha )

 

[4re]

Quote from ae_trading:

Seems to me to be more of general market indecisiveness leading up to the next FED meeting.

S&P has been sorta forming a triangle as it keeps trading in a tighter range all last week.

When I see rangebound action like that it tells me to be ready for a nice move. Once the market shifts away from the range, the losers will be forced to close positions in the direction of the move, thereby putting even more pressure in that direction. (That was the extended version of why breakouts can sometimes be profitable trades haha )

I am not sure I see the triangle you are seeing but I do see a sort of one on the daily chart as well as a very nice pennant from Friday on the 60 minute chart. Is this what you are seeing?

4re

 

[4re]

Quote from 4re:

I am not sure I see the triangle you are seeing but I do see a sort of one on the daily chart as well as a very nice pennant from Friday on the 60 minute chart. Is this what you are seeing?

4re

Or this?

 

[ae_trading]

In the first chart I am refering to the last 6-7 bars (depending on whether you include the large green bar as well.)

In addition, there is a hammer on the weekly from last week - but the last two on the daily failed so I'm not giving much weight to this one on the weekly yet.

Of course then again who cares if it is a triangle or not - the market was definitely in a range all last week.

-ae_trading

I used to have the program for taking screen shots, but I don't on this computer and I can't remember what it was. Care to tell me which one you use? (it was free.)

 

[4re]

Quote from ae_trading:

In the first chart I am refering to the last 6-7 bars (depending on whether you include the large green bar as well.)

In addition, there is a hammer on the weekly from last week - but the last two on the daily failed so I'm not giving much weight to this one on the weekly yet.

Of course then again who cares if it is a triangle or not - the market was definitely in a range all last week.

-ae_trading

I used to have the program for taking screen shots, but I don't on this computer and I can't remember what it was. Care to tell me which one you use? (it was free.)

I am using e-signal snapshot. But if you can give me the details of it what chart time, and candles I will try to draw it and post it.

That is a nice pennant on the 60 minute chart isn't it...

4re

 

[ae_trading]

Here's the "dirty" version of the triangle - the lines are, ahem, inexact haha.

The pic is about 1 week of 30 min. bars including after hours.

-ae

 

[4re]

Quote from ae_trading:

Here's the "dirty" version of the triangle - the lines are, ahem, inexact haha.

The pic is about 1 week of 30 min. bars including after hours.

-ae

I see, thanks. I actually do trade these breakout patterns but most in this thread use more divergence method for trading. I think, anyway.

4re