ES Journal Archive (2006 - 2008)

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Quote from Buy1Sell2:

As you know I am trading much longer term than most here, but I agree with Spike's long call based upon the entry in a 3 minute chart attached here.
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When a trade gets rejected like that it is also a good clue that the other side of the market may dominate.

Personally, I hope the long side stays dominant for a while. I have a bet with a colleague that ES reaches 1330 before it reaches 1270. A free pizza dinner is at stake...:)

Long term charts seem very bullish.
 
Quote from spike500:

Indeed, the only question is: did i follow my system?

If you did you will normally get in the long term the results that testing the system did give you.
If you don't follow your system, the results of testing are worthless.
So respecting the rules and losing money is better than breaking the rules to make money. But sometimes the temptation can be irresistable.
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I know what you mean. However, then it is a discipline issue.

To be honest, if you see really good long term results it doesn't become that difficult as your faith in what you are doing is so much greater. The fear becomes manageable. I feel fearful, yet relaxed when entering a trade.

What helped me was actually taking a few months off not looking at the markets at all and reflecting on my failures. Then I opened my mind, threw out all my old ideas and approached the subject with a blank canvass. The tools I use now I used before in other failed methods, but now I combine them and use them in a vastly different way, which is perhaps unique to me. These are widely known tools as there is never anything new in trading or any magic formula for success.

In many ways I think every failure is important for what it tells you.

"The trees that are slow to grow bear the best fruit."
-- Moiliere
 
Quote from LondonUSTrader:



"The trees that are slow to grow bear the best fruit."
-- Moiliere
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If you want to talk trees my favorite quote

"The wind does not wait for the tree to bend"

:)
 
This market doesn't feel right for a long. Nas and R2k is negative.

4RE mentioned something about the afternoon selloff on options expiry days in his journal.

jmho
 
Quote from BoyBrutus:

This market doesn't feel right for a long. Nas and R2k is negative.

4RE mentioned something about the afternoon selloff on options expiry days in his journal.

jmho
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MAX pain is not holy grail, so do not bet on it, there is that double top so far, long here.
 
Romik,

I'm confused....you are going long INTO a double top?

Why? Or does that not effect your signal? Are you no longer Long Term short?
 
Quote from pkts:

Romik,

I'm confused....you are going long INTO a double top?

Why? Or does that not effect your signal? Are you no longer Long Term short?
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Long term short, right now I am long, yes into double top. All above discussions re: trusting your system should make it clear, I do not interfere with system's calls.
 
I now view 1301.00 as the recent reaction low on the 3 minute. Less conservative traders would still use the reaction lows from my earlier chart.
 
I think trading a proven system is a lot less stressful in comparison to discretionary trading, unless one is really disciplined. Whenever I used to make trade decisions based on what my intuition used to tell me including indicators and market analyses, it was bloody hard to close a loser. Too much bias present.
 
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