ES Journal Archive (2006 - 2008)

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Quote from brightstone:

Any one hear from the last flash in the pan Oscar?
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Not since this Flash:

3rd FLASH UPDATE
S&P 500 & EMINI 03:12:08 PM MST:

5:21 EST. 02.28.07

FOR THOSE TRADERS WHO STAYED LONG INTO THE EVE. SESSION:
MARKETS IN THE EVENING HOURS TEND TO BE A BIT THINNER AND CAN RUN STOPS MORE READILY.
CONSIDER LOOKING AT YOUR CHARTS AND LOWERING YOUR SELL STOPS A BIT TO A LEVEL WHICH "YOU CAN SLEEP WITH".

REMEMBER...WHEN IN DOUBT...ALWAYS GET OUT!

GOOD LUCK.

I WILL KEEP YOU INFORMED.


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2nd FLASH UPDATE
S&P 500 & EMINI 01:54:19 PM MST:

3:53 pm EST

I NORMALLY DO NOT ADVOCATE HOLDING POSITIONS OVER NIGHT.
WHEN THE MARKET CHANGES COMPLEXION SO MUST WE.
IF WE ARE TRADING AROUND THE 1410.00 LEVEL OR HIGHER BY THE CLOSE AT 4:15 PM EST I WILL HOLD POSITIONS INTO THE NIGHT SESSION.

TRADERS WHO ARE CONSERVATIVE OR HAVE SMALL ACCOUNTS PLEASE BE OUT BY THE CLOSE

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1st FLASH UPDATE
S&P 500 & EMINI 08:38:49 AM MST:

I am buying the S&P right here

Place sell stops below 1404.00 stop

I will keep you informed
 
if u think the homerun trading is for you go for it....oscar gives best advice based on experience....he exudes market knowledge...
 
same exact pattern as yesterday so far with a lower lo......if we can trade above 1418....yest. hi on S & P`s .....it will be considered an outside day & sign of a reversal......otherwise a lower lo tomorrow is very possible if they can`t jam it higher.

locals will sit back with big paper sellers coming in while they sit around the 200 day like sharks waiting to pounce.
 
Quote from brightstone:

Any one hear from the last flash in the pan Oscar?
More...

Mr Carboni made a great example of what I have been talking about for quite some time regarding daytrading versus position/swing. He said on Tuesday, according to someone here, that the train had left without him even though he wanted to put on a short that day. However, he wasn't in was he ?--and not only did the train leave the station, it wound up in Birmingham. So here he had a short bias, but was unable to convert anything. Myself, I have a long bias and am looking to add positions. Two totally different strategies. Because he goes flat at end of day, he missed his correct call!
 
I need to point out here Wave, that I was just asking Romik to give the results of a plan where he was increasing his position on Weekly Euro FX using just the histogram. It was just an exercise to look at. I was not advocating putting that plan in play because it is too risky-- However, the results are phenomenal and I may post a chart today or tomorrow from the Euro FX just to demonstrate that idea. --Again--risk should never ever be more than 2 percent of total liquid net worth on any trade/idea.

Quote from wave:

Buy1Sell2-

"Start with 1 contract and add one on the next trade until you have the big winner. (No martingale--that would be doubling, so just add one each time). What's the result?"

Are you buying 1 contract at each price level you average into or are you buying 1 more contract than the last at each price level?

price units
1400 1
1399 1
1398 1
1397 1
1396 1
1395 1

1400 1
1399 2
1398 3
1397 4
1396 5
1395 6

Thank You
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Quote from Buy1Sell2:

Mr Carboni made a great example of what I have been talking about for quite some time regarding daytrading versus position/swing. He said on Tuesday, according to someone here, that the train had left without him even though he wanted to put on a short that day. However, he wasn't in was he ?--and not only did the train leave the station, it wound up in Birmingham. So here he had a short bias, but was unable to convert anything. Myself, I have a long bias and am looking to add positions. Two totally different strategies. Because he goes flat at end of day, he missed his correct call!
More...

HUGE difference B1S2...

missing a trade, whether a good trade or a bad trade, is just that... missing a single trade. Being in a trade, whether in your favor or not, all comes down to trade and risk management.

There is another aspect to Mr Carboni comment regarding missing the train... While I agree is it usually best not chase, as a daytrader, when a trade is recognized as a bullet it can be traded. I think Mr. Carboni was in some state of disbelief, hence his lack of position. Prudence during uncertainty kept him from entering. Yes, he did miss the trade, but it had nothing to do with going flat at eod the previous session.

Osorico [waiting for a call from VH1, "best week ever!"] :)
 
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