ES Journal Archive (2006 - 2008)

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Quote from wave:

speaking of playing breakouts, a break of 1413 should get us a 10 point move above that - 1424.
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Alot of technical damage. Too soon, imo, to trade solely based on previous price levels. Must see confirmations before entering trades, either side, at this point. jmho
 
Quote from whoispaul:

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.
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I make it a point it never get too far out there. This is more selloff than I expected as evidenced by my scale down buy at 1437. I make a lot of mistakes of course, so it is better for me to err on the side of caution and keep the positions relatively small when using such a large chart. As I mentioned earlier (before we hit it)-- 1435 was the reaction low and would have served a person who was long and using the daily charts. Somewhere below 1435 that is, not right at it. It could be argued that I am not trading at all , but rather investing although I am inclined to "invest" in the direction of the long term trend whch makes it more lke trading. :)
 
Quote from osorico:

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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A couple of items to discuss here.

--Remember that I have been long for the most part (except the 2 short forays ) since the day of the reversal last June, so this long bias has netted a large profit. In other words, I did not just get long and now will hold for 200 ES points.--I have been long for quite a while-

--Secondly, I expect 1500 to 1550, but also expect more than that--a lot more. How much? I have no idea.

Long for now. :)
 
Quote from riaamaan:

I'd say the bears got a good grip today. This was desperately needed IMHO. Probably more to go.
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Pretty much a WRB on daily, could be a perfect one by MOC, it looks PERFECT to continue.
 
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