ES Journal Archive (2006 - 2008)

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Quote from Buy1Sell2:

That is a distinct possibility. It depends on how long it takes to get up there etc. Right now, that hourly sure was strong today and we'll see if it carries into tomorrow. The problem that is there is that the high today stalled at the 20MA on the 240 chart. The 240 is still pointing downward. Today's action did not create an outside day reversal bar. I would say that the action on the hourly bar should be watched closely for further direction. Going forward, I am trading daily charts but using the intraday as entries and exits to get me in and out. After quite a bit of thought and research, I have found that the 60 is actually more reliable than the 240 when all is said and done.
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I've taken a short here at 1274.50 5 units. I've also closed my 15 units out at 1274.50. I will be using stops since I am working off of the 60 minute chart and many reading like to relate to stop levels. I may begin incorporating stops on a permanent basis and using more size. We'll see. Stop right now is 1279.25
 
Quote from sosa1974:

No trading today. I dont trade terror events even though the "freedom rally" was in full effect. I pass on days like this. Looking for entry Friday or next week.
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==============
Sosa74
I see your point, and actually like high probability uptrends[not that one yesterday];
and perhaps to further expand on your point.

Dont consider that uptrend a high probability uptrend;
time below 50 dma, and weekly lows. Even people who trade uptrends would have to admit the sharp downspikes like we saw yesterday am, isnt the best uptrend.

Left early yesterday, found better up trends with Realtors;
first time in a long time, last 50 days or so have seen some motivated sellers in real estate.

Not a prediction, but prefer motivated Realty sellers, rather than ;
lukewarm ES rally buyers.Looking for entry later or late Sept/OCT. Helpful points. also Buy1sell2

Neat thing about '' freedom '' in business, you can surf at beach;
or explore real estate, for better trends2.

:cool:
 
Quote from Buy1Sell2:

That is a distinct possibility. It depends on how long it takes to get up there etc. Right now, that hourly sure was strong today and we'll see if it carries into tomorrow. The problem that is there is that the high today stalled at the 20MA on the 240 chart. The 240 is still pointing downward. Today's action did not create an outside day reversal bar. I would say that the action on the hourly bar should be watched closely for further direction. Going forward, I am trading daily charts but using the intraday as entries and exits to get me in and out. After quite a bit of thought and research, I have found that the 60 is actually more reliable than the 240 when all is said and done.
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thanks for the info, appreciated.
 
Quote from Buy1Sell2:

I've taken a short here at 1274.50 5 units. I've also closed my 15 units out at 1274.50. I will be using stops since I am working off of the 60 minute chart and many reading like to relate to stop levels. I may begin incorporating stops on a permanent basis and using more size. We'll see. Stop right now is 1279.25
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We have next support @ 1262.50, if ES breaks through it might sell-off nicely from there. If there is no more upside, I will be kinda disappointed I only managed to have 3 lots in this short, but than again profit is profit. Nice results B1 BTW!
 
Quote from Buy1Sell2:

Journal to Date Results

100 trades 52 winners 48 losers 52 %

Total profit including commissions =

$52,263.23
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Well done B1S2 good to see its over the big 50. Nice to see your taking some shorter time frame trades. Dont forget to lock in some profits :D

Keep it up
 
Quote from BoyBrutus:

Well done B1S2 good to see its over the big 50. Nice to see your taking some shorter time frame trades. Dont forget to lock in some profits :D

Keep it up
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Thanks BB. I am going back to the shorter frames as I believe there are numerous more day traders on ET than position traders and it will help stimulate discussion. --hopefully.
 
Quote from romik:

We have next support @ 1262.50, if ES breaks through it might sell-off nicely from there. If there is no more upside, I will be kinda disappointed I only managed to have 3 lots in this short, but than again profit is profit. Nice results B1 BTW!
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Thanks Romik! Where is your stop?
 
OK, let's hear some opinions-- I am short on the hourly chart-- The 5 minute is bouncing--Is the 5 minute a bounce or a reversal--It does feature "The Grail" :)
 
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