ES Journal Archive (2006 - 2008)

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Quote from romik:

I am committed to 1439.50-1441.00 range, it was a pain in the ... for a while & as you pointed out prior it can get pretty frustrating & mind games kick in and stuff. But there you are, after days of being in the red & being at breakeven position went ~$16700 up in 1 day, OK today is extraordinary & tomorrow will probably be just as bad, but that in itself can be compared to different level of constipation, the more the constipated period the bigger the bang :)
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Have you closed the position?
 
Quote from Buy1Sell2:

Paul, I am nowhere near 2 percent of liquid net worth as a loss. After a couple of forays on the daily chart with going short, I had made the decision to do what I do best which is capture the long term moves on weekly and monthly charts. The area I am looking at as a get out point right now is 1218--1231. It would need to fall below that siginificantly for me to get out or I would need to see extended reversal signs, not a one day deal. In my view this is pullback on those charts. Am I wrong? Maybe, but I am not overextended and that's the key. --I just added long at 1407.00--same size.
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Sounds good to me, certainly the key is not being overextended. Just thought todays action might be a bit too heavy to keep long positions on.
 
Quote from Buy1Sell2:

Have you closed the position?
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No, it's still open. Currently short 1439.50 @ 19th attempt to totally breakout of that range & stay out of it.
 
Quote from Buy1Sell2:

Paul, I am nowhere near 2 percent of liquid net worth as a loss. After a couple of forays on the daily chart with going short, I had made the decision to do what I do best which is capture the long term moves on weekly and monthly charts. The area I am looking at as a get out point right now is 1218--1231. It would need to fall below that siginificantly for me to get out or I would need to see extended reversal signs, not a one day deal. In my view this is pullback on those charts. Am I wrong? Maybe, but I am not overextended and that's the key. --I just added long at 1407.00--same size.
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Im just trying to understand the mind of a positiion trader... You expect 1500-1550 as you posted earlier. You are willing to risk ANOTHER 200 handles (or so) before you will determine the trade isn't working. Is this right B1S2? Say it ain't so, man. Say it ain't so.
 
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