stops triggered. cover @1429.00
ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
- Start date
- Status
buy stops @1432 max quantity close @ 1434 SL 1430.00
quantity is varied based on which side the price broke in the morning. If it breaks to the upside, the rest of the day 1/2 the amount is used on any short.
when I say buy stops I mean, when the price hits that level, the order gets converted to buy market order.
and same thing for sell stops. SL means the traditional stop loss.
So right now I'm short and looking for a break of 1429.00. If it manages to break the 1432 stops then the short gets covered but on a upside signal the position is reversed.
The morning trend is the most crucial one, that dictates quantity traded.
when I say buy stops I mean, when the price hits that level, the order gets converted to buy market order.
and same thing for sell stops. SL means the traditional stop loss.
So right now I'm short and looking for a break of 1429.00. If it manages to break the 1432 stops then the short gets covered but on a upside signal the position is reversed.
The morning trend is the most crucial one, that dictates quantity traded.
the reasoning is that institutions will cut the order flow, some orders in the morning and the rest in afternoon if all things are the same, and market dynamics havent changed. They basically insure that their morning book is supported by the afternoon orderflow.
- Status