ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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the set up was the 10 minute chart with long grail and BLD. This was with the express purpose of finding an intraday entry to add to my positional trade. Entry wasn't good, but I have added my max intraday position (small compared to positional max) to my long term trade as I view 1500 and higher in the offing this year.
The problem with being that wrong for a daytrading call is a problem for most. But, it should not be a monster lick since stops should be well placed each time no more than 3 for a daytrader ES......Those with a huge accounts can call that no problem. 1 ES contract that wrong is lots of tortillas for you and me, right vol? for a po boy. a 3 pt stop for daytrading is good. B1 is not a daytrader nor is he pretending to be. His strategy is much longer term big picture than this fomc blip.
You will soon lose even more of that paper profit.
Rule of 10 said to short this sucker hard at 1426 level on the bounce.
Notice the volume on the selloff and notice the volume on the bounce and where the volume came back in to sell.
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