ES Journal Archive (2006 - 2008)

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Code: 
          entry       exit        pnl
short     1379.25     1381.00     -1.75
short     1380.50     1380.00      0.50
long      1385.50     1384.50     -1.00
short     1391.75     1385.50      6.25
short     1390.00     1391.50     -1.00
short     1388.25     1386.25      2.00
short     1379.50     1382.50     -2.00

*all papertrades
 
that's what I am getting so far, at the moment long 1380.25, until I see either a short grail or a lower high of the previous short grail which started around 6am EST
 

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I now consider the short grail on 5 min TF starting 6am till 10am as a finished one. If there is a new short signal it will need a new high and a new lower high on RSI.

So far up a total of ~+8 pts unrealised on last long (5 trades). It's obvious that this way of trading off a 5min TF is a lot more commission intensive, but hopefully due to reversing upon reverse signals overall result would beat a PT based trading part of which is based on a predetermined R:R. Don't forget we are dealing with a 5 min TF, not an hourly+.
 
made a mistake. last papertrade was -3.00.

Code: 
          entry       exit        pnl
short     1379.25     1381.00     -1.75
short     1380.50     1380.00      0.50
long      1385.50     1384.50     -1.00
short     1391.75     1385.50      6.25
short     1390.00     1391.50     -1.00
short     1388.25     1386.25      2.00
short     1379.50     1382.50     -3.00

*all papertrades
 
Quote from joeyata1:

romik are you still in all those shorts from weeks ago at 1330 and 1340? if so are you co ntinuing to avg up?
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I was short from 1360/70 40% max position, nothing's been added since. I just trade around that short using both my mech and discretionary approaches.
 
Quote from Buy1Sell2:

60 minute chart show a great potential for a bounce off of the OS line and a bullish divergence here. Pattern is not complete and is just starting. 240 indicates more downside at the moment. We'll need to see strength to have the 60 minute signal created in full. In addition, the 60 minute 20 MA is in need of flattening as part of the pattern. Right now, you would need to defer to the downside with a reaction high type stop. Time will tell here. Once a long signal occurs on the 60 or 240 it has great potential to be a strong one.
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Classic bullish divergence certainly did occur today on the 60 minute chart. No reason to be short at the moment. Stops should be below 1378.75 if you are trading this time frame.
 
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