ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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I have a very very large profit in ES from a positional standpoint right now. --Both in long positions that have been rolled to Sept and then into the March contract and in short calls that I have sold and have expired and decayed along the way.
I do go under water from time to time, like when I was building a positional short earlier last year. However, I control how far underwater I am and it never exceeds 2 percent of total liquid net worth.
If the market remains the way it is right now today, I will be unwinding my positional longs today and going flat. I will not be shorting here, rather I will be looking for strength to get back long.
I do go under water from time to time, like when I was building a positional short earlier last year. However, I control how far underwater I am and it never exceeds 2 percent of total liquid net worth.
If the market remains the way it is right now today, I will be unwinding my positional longs today and going flat. I will not be shorting here, rather I will be looking for strength to get back long.
B1S2,
Although I am strictly and only an intraday emini trader, I fully understand your last post. It is one of the best I have ever seen on any forums from anyone. Being a daytrader does not restrict one to scalping only. As some call it, small points trading. Not true. End to end most NQ intraday runs are 20 pts or so. A 10 contract trade, for instance, capturing 10 of those typical 20 pts on even the NQ can be big money for the average trader. Here, on the forums, we see many posts about the daydreaming big money. It does not take a highly skilled trader to see the truth of the price movement, just is hard to get the emotions in line. The daydreaming i mentioned above is not directed at you. I will say I believe you are one of the big money producers, just not a daytrader. That requires a totally different set of skills and emotional control and a bigger account. And of course a totally different type of system. I would prefer to be where you are with the positional approach as my first choice, but poor folks have poor ways. ES ER NQ YM all about the same. They go up down and sideways, end of story.
Although I am strictly and only an intraday emini trader, I fully understand your last post. It is one of the best I have ever seen on any forums from anyone. Being a daytrader does not restrict one to scalping only. As some call it, small points trading. Not true. End to end most NQ intraday runs are 20 pts or so. A 10 contract trade, for instance, capturing 10 of those typical 20 pts on even the NQ can be big money for the average trader. Here, on the forums, we see many posts about the daydreaming big money. It does not take a highly skilled trader to see the truth of the price movement, just is hard to get the emotions in line. The daydreaming i mentioned above is not directed at you. I will say I believe you are one of the big money producers, just not a daytrader. That requires a totally different set of skills and emotional control and a bigger account. And of course a totally different type of system. I would prefer to be where you are with the positional approach as my first choice, but poor folks have poor ways. ES ER NQ YM all about the same. They go up down and sideways, end of story.
--I sell futures options
--It depends on how I feel about the future direction of the market. In this instance I feel like there may be some sideways action and so I am slowly unwinding the short calls. I am totally out of ES futures positions at the moment, having unwound the long ES futures completely on Fri. I believe there will be more strength, but I will wait until I see it clearly.
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