ES Journal Archive (2006 - 2008)

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The 3 and the 5 seem to be the industry standard time frames. Longer time frame charts tend to lag according to all i have read. frogman
 
Quote from Buy1Sell2:

How do you decide on 2.5 pt stop? I see that your short was probably the same time that we had the short grail on 15 that I posted. If so, I believe that the 2.5 pt stop had potential to be "in the noise". Of course, it wasn't hit, but I like my stops outside reaction highs. What are your thoughts?
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By back testing my trading rules.

Covered at 1369.
 
Bullish divergence now exists on the 15. Again countertrend to the 60. However, there is a greater possibility of upside than we had with the 3 recently. Tell you what guys, I'll go ahead and take 5 contracts at 1369.00 and play the intraday game with you today!.
 
Quote from Buy1Sell2:

Bullish divergence now exists on the 15. Again countertrend to the 60. However, there is a greater possibility of upside than we had with the 3 recently. Tell you what guys, I'll go ahead and take 5 contracts at 1369.00 and play the intraday game with you today!.
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Ok. I am in. 1369.00 long 5 contracts.
 
Quote from brightstone:

Line Chart
first time to use it.
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Now switch everything off apart from RSI. Switch your PC on around 7am EST and take a signal of the first grail as soon as second or third trough starts breaking 70 downwards - short, 30 upwards long. Stay in the trade until price starts breaking through current reaction high/low. If you are short and as long as price keeps declining off a current reaction point you stay in the trade, breaks through you apply trailing stop above/below that point.

For instance now if price starts braking through 1369.75 by say 0.50 you would cover short from the morning.
 
Quote from Buy1Sell2:

Ok. I am in. 1369.00 long 5 contracts.
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OK. Now we have bullish divergence on the hourly continous chart. I have added a total of 15 contracts at 1370.00 and 1370.25.
 
Market needs to clear 1372, in order to prove to me that it is trending up, before I start buying pull backs.

A failure here at 1370 would signal more selling pressure and a move down.
 
Quote from romik:

I've put some red lines on your chart, they represent current reaction highs, as long as they are not broken - you can stay short.

Simplest way to trade by far.
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Romik--That's how you stay in trades! I like what you're doing.
 
Quote from Buy1Sell2:

Romik--That's how you stay in trades! I like what you're doing.
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Very good, I am certain that this way the profit factor would be substantially higher than being in and out on reverse grails and/or applying 'Yo-Yo' type trading. I will post stats of this week's reverse grail test, though a profitable system, it's OK...broker will be happy.
 
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