ES Journal Archive (2006 - 2008)

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Quote from JimmyJam:

Now, this position isn't moving immediately in my favor, so I'm streteching my stop to 12635.

JJ
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So let me get this...
When an expected intraday or otherwise short-term trade isn't working (your use of the word "immediately" suggests you expect this to be intraday or otherwise short-term) you increase the risk, in this case from $100 to $200 per contract. Is this correct?

Have you been tutored by myminitrading?

Just pointing out the obvious JJ.
Play what you see,
Osorico :)
 
Quote from bsparkyman:

1449.75 is 50% retrace from 2.12 low to 2.22 high. Getting long on a revesal pattern on shorter time frame.
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Careful... this time its different. Next stop 1442.50-1443 if 1450 is broken If s&p holds here a lot of buyers will come in and drive this market high again
 
Quote from osorico:

So let me get this...
When an expected intraday or otherwise short-term trade isn't working (your use of the word "immediately" suggests you expect this to be intraday or otherwise short-term) you increase the risk, in this case from $100 to $200 per contract. Is this correct?

Have you been tutored by myminitrading?

Just pointing out the obvious JJ.
Play what you see,
Osorico :)
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Nope, actually I've been paying close attention to what B1S2 says ... :)
 
Quote from JimmyJam:

Nope, actually I've been paying close attention to what B1S2 says ... :)
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Here's the thing-- the market is in bull mode. Dips should be bought upon future strength. It will only be wrong once and that is when the real reversal is. By using prudent money management and not being overextended, this can be done. Of course if you are overextended , you will lose whatever strategy you are using including this one.
 
Quote from JimmyJam:

Nope, actually I've been paying close attention to what B1S2 says ... :)
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OK, you're position trading, with intention to hold for days, weeks, or months. Then why would you expect an immediate move, and why would initial risk be so tight?

Again, not meaning to give you hard time, just pointing out the obvious. I even think B1S2 would agree that his techniques do not work nearly as well for intraday/short term trades. (I seem to recall that was B1S2 intent (to try his hand at intraday/shortterm) when this journal began.)

Osorico :)
 
Quote from Buy1Sell2:

Here's the thing-- the market is in bull mode. Dips should be bought upon future strength. It will only be wrong once and that is when the real reversal is. By using prudent money management and not being overextended, this can be done. Of course if you are overextended , you will lose whatever strategy you are using including this one.
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I definately agree and this is how I mainly trade on a smaller time frame. However, I still believe the trend is your friend until its about to end. If you have techniques enabling you to know when the odds of the trend ending vs continuing you can use that to your advantage.. ie tighten up stops, take smaller size etc
 
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