ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Gotta love that 10:30 reversal, T day theory and the rule of 10.
vista
if i take 2 losses back to centerline is unusual. now i might do a few scratches (5 or less). A scratch in my book is not a loss but indeed it is because there is commish costs. But you get the idea.
Going to first hour breakout then changes back to general technical analyses. Actually that is also true once a trade from a +6 or -6 line is filled and you are thus on the right side of the mkt.
I have traded this way for openings about 2 years now, but about a year ago it has become my main if not only opening tactic. I worked on this and got inputs from readings and from frustrations about not being with the openings on one-way days. One-way days are sweet if a trader gets in early and rides it in most cases to the close. nothing worse than getting chopped up and later reviewing a chart and seeing a beautiful 25 handle move. it was then that i worked on how to work retraces, when to expect a retrace etc. As an example: in ES it is not a bad idea to take a 5 handle run and expect a retrace as being quite normal. waiting for 10 handles before taking profits seems kind of more hope than reality.
i traded what i called "Banging meats" some time ago, meats were more range plays than for making good intraday moves, so i had other accounts and traded ranges against each other in different accounts in the fat cattle, feeder cattle, live hogs, bellies, different months and long and short etc in different numbered accounts etc. all on the phone. .. :eek:
PS, it was all legal also as i signed letters saying my being lond and short etc in different accounts was for strategic reasans and NOT to skew the open interest numbers. like i would. CFTC said all was fine. thks for interest
Good trading tomorrow
if i take 2 losses back to centerline is unusual. now i might do a few scratches (5 or less). A scratch in my book is not a loss but indeed it is because there is commish costs. But you get the idea.
Going to first hour breakout then changes back to general technical analyses. Actually that is also true once a trade from a +6 or -6 line is filled and you are thus on the right side of the mkt.
I have traded this way for openings about 2 years now, but about a year ago it has become my main if not only opening tactic. I worked on this and got inputs from readings and from frustrations about not being with the openings on one-way days. One-way days are sweet if a trader gets in early and rides it in most cases to the close. nothing worse than getting chopped up and later reviewing a chart and seeing a beautiful 25 handle move. it was then that i worked on how to work retraces, when to expect a retrace etc. As an example: in ES it is not a bad idea to take a 5 handle run and expect a retrace as being quite normal. waiting for 10 handles before taking profits seems kind of more hope than reality.
i traded what i called "Banging meats" some time ago, meats were more range plays than for making good intraday moves, so i had other accounts and traded ranges against each other in different accounts in the fat cattle, feeder cattle, live hogs, bellies, different months and long and short etc in different numbered accounts etc. all on the phone. .. :eek:
PS, it was all legal also as i signed letters saying my being lond and short etc in different accounts was for strategic reasans and NOT to skew the open interest numbers. like i would. CFTC said all was fine. thks for interest
Good trading tomorrow
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