ES Journal Archive (2006 - 2008)

[itcob58]

volume beginning to slow, set stops with moc, if long.

 

[BoyBrutus]

Quote from BoyBrutus:

Just went short on the ER2 at 706.80 ~ 1299.50 ES

This could be a rough ride.

Exit 705.40

That was good enough for me.

 

[Buy1Sell2]

Quote from wareco:

Is that an intra-day call or inter-day?

intra for now

 

[thebuzzkill]

I think B1S2 could be right about a fall from here. This whole leg up has been like watching an old man crossing the road, arthritic and slow. But that being said,, we are close to some important levels and the market could easily surprise us. About the comment about trading before the FOMC minutes, I didn't trade just before but waited till it dropped and then started to reverse, I am out of my trade.

 

[PitchBlack]

My system has been tested purely based on prices; i never take news in account because my stats are based on trading without taking anything else but prices in account.
I have this month 2 losing trades ( including this one which was stopped on 2 points). I'm still profitable for the day.
My average profit per trade for this month is still 4.34 points net.

Quote from mujoh:

Do you really take trades just before FOMC minutes? Isn't it a little bit risky?

 

[romik]

Quote from thebuzzkill:

I think B1S2 could be right about a fall from here. This whole leg up has been like watching an old man crossing the road, arthritic and slow. But that being said,, we are close to some important levels and the market could easily surprise us. About the comment about trading before the FOMC minutes, I didn't trade just before but waited till it dropped and then started to reverse, I am out of my trade.

remember recent MR B speech

 

[Buy1Sell2]

There is a very very good way to not get shaken out by the way-- Don't become a weak hand. Trade more conservatively--You'll get to the goal most likely just as fast.

 

[Buy1Sell2]

Quote from romik:

remember recent MR B speech

I don't recall what happened as I usually don't look at news. What occurred if you could refresh my memory?

 

[thebuzzkill]

Quote from Buy1Sell2:

There is a very very good wqy to not get shaken out by the way-- Don't become a weak hand. Trade more conservatively--You'll get to the goal most likely just as fast.

Its very hard sometimes for us poor folk not to get shaken out of a trade when you don't have gazzillions of $$ that you do B1.
Seriously though, I have read that your stop loss is 2% of your portfolio is that the only stop you use.

 

[PitchBlack]

After i got stopped out the trend reversed (about 1 hour ago).
I had to wait for a signal to go long.
Got a long signal about 14 minutes ago at 1302.75

The reversal of the trend was not according to the scenario that my system predicted. That was the cause of the loss and the reason why i had to wait to go long. An unexpected reversal always shakes up my system so that i'm forced to wait till the system is "stable" again.
I've learned not ot jump in a trade with my eyes closed just because i made a loss or just because i don't want to miss the move. I always wait till my system gives me green light to trade.