ES Journal Archive (2006 - 2008)

[osorico]

Quote from Buy1Sell2:

I have a view of strictly intraday trading --ie getting flat at the end of each day. That view is that the intraday trader by being active is closely protecting the profits of his/her broker and not their own.--Just my view. Swing and position is where it's at I believe.

Proven fact... the longer you stay with a winning trade the more you will make. No doubt about it.

As for generating commish, yes its more than swinging. But frankly, the rates (at least mine) are such that even 1 tick is a winner. (Although I never intentionally put on a trade with that kind of target). Commish is just a cost of doing business. Where it hurts intraday is navigating chop reversing and reversing just to make $50. Thats overtrading in my book and yes the brokers are the beneficiary of that intraday style.

 

[Lance Carson]

Short ESH7 from 1454.50 Target 1444.75

 

[porge]

chop reversing can be the bes tof all depend s on range of chop

 

[BoyBrutus]

Quote from tradertony76:

Hey All,

I'm no perma bear by any means, and these days I do trade with a bullish bias. However, it seems that most ET members have a "the indices can never go down mentality".

I was looking at the commitment of traders report for ES, and the non reportable positions for 1/23 were:

Long 338,808 down by 1,839
Shorts 129,954 down by 7,791

So, recently it looks like more shorts have been getting flushed.

Should there be any concern that the risk to the market is to the downside if the longs get pressure put on them ?

-T

Tony I have not followed or analyzed the COT in any detail, but from the little I have seen of the articles and posts on ET it seems people get it wrong with the COT and what it indicates with the Commercials, Non-Commercials, and Non-Reportables.

Can anyone say they use the COT for positional trading with positive results and the level of analysis required and any advice they can give in approaching the COT report.

Thx

 

[osorico]

Quote from porge:

chop reversing can be the bes tof all depend s on range of chop

Not if you are only taking a tick or two. Generally speaking, taking "real" scalps (1 to 3 ticks) is too much work for me. But then again green is green.

 

[porge]

b1....u r correct for most traders, that is why theylose...daytrader gets butt kicked most of time...but not all daytraders...to say they are protecting broker profits shows you came here knowing nothing about intraday trading eminis and know even less now...as fa r as breakeven the smart ones do that and know very well how to do that.......it is the s top tradiling that is not too smart....scale out is smart.........not trailing....

 

[porge]

oso i agree but i am nq guy....es range is bad nowadays...the runs produce the money....not the scalping for 1 pt junk

 

[osorico]

Quote from porge:

oso i agree but i am nq guy....es range is bad nowadays...the runs produce the money....not the scalping for 1 pt junk

I traded NQ for first time last Wednesday. I do not like the tick. I also dont like the ES tick, but ES is very smooth, imo. So what the hell. YM remains my index instrument of choice followed by ER2 and ES.

 

[porge]

the ym is great also just a little wild..but very tradabble for 2 years for mme

 

[apex82]

Quote from porge:

the ym is great also just a little wild..but very tradabble for 2 years for mme

I have been watching the ym for a bit and thinking about adding it to my plan on certain days. How are the fills? Do you think you can get filled on 30 cars on ET's over 70% of the time.?