ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
- Start date
- Status
Systems point upward but realize we are still in a weekly resistance zone. Any breakdown below 1435 will really hurt the bulls case... Volume is extremely low so be careful on the breakout until you see some volume confirmation. There are a ton of stops above and below the market here. You would find it hard to believe they would take it up all this way without at least hitting the stops above Jan 17 highs.
Well, unless you are just flipping a coin whether the market moves higher or lower, then whatever you are using as criteria for entering a trade certainly has directionality to it. I mean no one goes long unless they expect the market to head higher over the time period of the trade. So, every trade is a directional trade, and each criteria for that trade is a directional signal.
But, aside from that, I still don't understand how your system failed to have you cover that short, and even go long. The ES low on 1/22 was 1426.75. You went short at 1439.50, I think. So, thats 12 points. Prior to this trade you were flip flopping back and forth long and short in a much tighter range, like +/- 2 points. It just seems something radically changed within the criteria of your system.
It was 12 pts GROSS, that was 7th attempt, the position is currently running at a loss (overall), well below max loss, we are very near the highs, where are the markets heading, up or down? Porgie (Laptop) was a seller today. This is not a daytrading method, my ability to pay bills is not dependant upon daily gains. It's been almost 12 months since I started out, I haven't lost a dime of my TC, so I am happy. Anyway, this position might end up at a loss, just like any one position of any trader. Let's be patient & wish me luck
Quote from romik:
This is not a daytrading method, my ability to pay bills is not dependent upon daily gains. It's been almost 12 months since I started out. Let's be patient & wish me luck
Romik, I was of the understanding that you wanted to scalp 40-50 cars, according to earlier posts. Have you gone of this idea? Just curious.
And by the way, good luck
Quote from Brucelee:
Romik, I was of the understanding that you wanted to scalp 40-50 cars, according to earlier posts. Have you gone of this idea? Just curious.
And by the way, good luck
Thank you! I do not trade futures via a conventional broker nowadays. You either misunderstood or going back a long time.
Quote from romik:
It was 12 pts GROSS, that was 7th attempt, the position is currently running at a loss (overall), well below max loss, we are very near the highs, where are the markets heading, up or down? Porgie (Laptop) was a seller today. This is not a daytrading method, my ability to pay bills is not dependant upon daily gains. It's been almost 12 months since I started out, I haven't lost a dime of my TC, so I am happy. Anyway, this position might end up at a loss, just like any one position of any trader. Let's be patient & wish me luck
No need to get defensive. I'm not trying to attack you. I was just trying to understand how your system could keep reversing direction within a 2 point or so range, and then when the market moved 12 points, there was no reversal until the market had swung back 14 points from the low. That's it, no hidden agenda. So, peace be with you.
- Status