ES Journal Archive (2006 - 2008)

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the system eats this type of market for lunch....as well as the other one....the other one is chop...there are only 2 types of market possible....if you don't see that go back to work ......
 
Quote from romik:/buy1sell2

lose 10 to clear 20, in business it's a good GP, not excellent, though still acceptable, ... 5 out of 5 at the moment, thanks Bruce
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Lots of money made with 50% drawdowns:cool:
And sounds like he is doing better than that.Probably should if flat eod:cool:

murray nickname t turtle
 
Interesting post. I assume you mean on a much lower time frame though. I was fortunate enough to have gone back to my very long term approach a while ago which also includes far fewer contracts as I am sure most people must know. It was sort of tough Tuesday though watching my 1435 come and go without a stop in place. I didn't like it, but it's what I have always done before-- It is all about keeping losses to a minimum, I can't just go out and average down at every price, but I can average in at different areas--That's what 401kers are doing --Of course it seems boring eh? --Now when I trade FX futures, I am on the daily chart along with the weekly and monthly --and sometimes get down to the hourly. For example I sort of like the hourly Euro FX right now. Good trading to you, I enjoy reading your posts.

Quote from apex82:

B1S2 methodology is a lot how I swing and day trade. But you have to know when the trend is changing or to place a stop and reenter at lower prices. For example, say this market just absolutely gets hammered for the next month and he gets stopped out of all entries. He will have lost all his gains from the past years doing the same type of trades and a lot more. This is how the market works... you ever notice how something works for a period of time and then wham all of a sudden it just gets mutilated? Then you go on searching for the new method and its a repeating cycle. What do you think happened on tuesday to all the people that were trained to buy the morning dips for the past couple months.... I am not saying this wont be profitable, because I use some of the same methodology. I just know that it only takes one time to wipe out everything you have gained. I am sure B1S2 acknowlges this and that is reason that he is disciplined on the amount of capital exposure he has at risk to his strategy.
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Quote from osorico:

Im confused by the example in this article. Why would any type of trader begin a scaling out strategy when the position gets to breakeven? Thats representative of a very overextended account or just plain silly, imo. Not too sure that article makes your argument B1S2.
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The article is discusssing somebody setting scale out where they have mad enough money to cover commissions, then lettingother contracts run. This is a recipe for failure since the "breakeven" contract(s) many times will actualy lose money.
 
Quote from Buy1Sell2:

The article is discusssing somebody setting scale out where they have mad enough money to cover commissions, then lettingother contracts run. This is a recipe for failure since the "breakeven" contract(s) many times will actualy lose money.
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Back when commissions were $100+ RT per lot, that may have been a viable (or at least logical) strategy. That was then; not pertinent today. Yes, this aspect of trading IS different now.
 
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