ES Journal Archive (2006 - 2008)

[illiquid]

Yes, that's for experts only. You should stick to the easier stuff like hope and pray.

If you are ambitious though, a neat trick, if you are down a lot, is to just buy one more contract. Then presto, you only need the market to move half as much to get you back whole. This was taught to me by a professor at an Attain boot camp back in '98.

"Neat trick" was his term . . .

 

[volente_00]

Quote from VictorS:

VOL,
do you wait for some kind of confirmation or are you just waiting on the time to enter your position?

I look for extremes to fade around that time period, being at support or resistance helps as well.

 

[volente_00]

Quote from princessa:

hey guys,

i'm gonna use the newbie excuse again, but i need help.

i'm holding 1 contract es long overnight - is this lunacy?

i would especially appreciate answers from:
romik
volente
4re
b1s2

thank you for your input....

If it makes you feel better I am long at 1437 right now. I'd rather be long on a gap down than short any day. There is a boat load of eco data out tomorrow so there will be some nasty moves coming. Fireworks start at 8:30 EST manana so buckle up lil mama.

 

[volente_00]

B1S2

Are you out there ?

Would like to hear your current thoughts.

 

[riaamaan]

Quote from princessa:

*laughing*

dude, i'm not there yet. that would be much too skilled of a move for this newbie girl....

He's toying with you by jabbing at romik princess. Please tell me you realize that.

Have your stop in place and be prepared to lose. There is a place for fear and hope in the markets...except it's the opposite of what most of us do. You should fear your losses will get larger and hope your profits will increase. So if you are down right now, fear is appropriate; protect your capital.

 

[volente_00]

Quote from riaamaan:

He's toying with you by jabbing at romik princess. Please tell me you realize that.

Have your stop in place and be prepared to lose. There is a place for fear and hope in the markets...except it's the opposite of what most of us do. You should fear your losses will get larger and hope your profits will increase. So if you are down right now, fear is appropriate; protect your capital.

There is no room for fear and hope in a successful trader's mind. Plan your trade. Trade your plan. Be true to yourself. And the rest will take care of itself. Stray from any of the above the and you will pay the price.

 

[princessa]

Quote from volente_00:

If it makes you feel better I am long at 1437 right now. I'd rather be long on a gap down than short any day. There is a boat load of eco data out tomorrow so there will be some nasty moves coming. Fireworks start at 8:30 EST manana so buckle up lil mama.

merci boucoup, dude....

 

[princessa]

Quote from riaamaan:

He's toying with you by jabbing at romik princess. Please tell me you realize that.

Have your stop in place and be prepared to lose. There is a place for fear and hope in the markets...except it's the opposite of what most of us do. You should fear your losses will get larger and hope your profits will increase. So if you are down right now, fear is appropriate; protect your capital.

thanks for the input, riaamaan.

ya, i realize he's being a stinker. i was trying to be nice, but...that's why i didn't answer the second time (or was it third?)

i guess my concern is that the market will yank down in response to some data, then bounce right back again. i won't be watching the screen, my stop will kick in, then it'll bounce back to above where it was before and i will be worse off than if i had just held...hmmm, perhaps a larger stop margin, then. i'll think about it. thanks again.


last time i held overnight i made a killing...but that was last time. i really have no idea what market moves will be tomorrow.

 

[romik]

Quote from illiquid:

Whatever you do, don't close out a losing trade -- you might have to post it in here for everyone to see

You won't have many opportunities to get long again at these prices, god forbid you might miss out on a huge rally if you close it out. Keep the faith.

Listen to Illiquid, he gained the knowledge on Sep 29th 2006, knowledge how to do it that is

EDIT: A note to Illiquid, you saw Magna's post earlier? Stay on subject please, would be my advise to your ever so subjective self

 

[princessa]

maybe i'll put a stop just below the next support level....