ES Journal Archive (2006 - 2008)

Status
Not open for further replies.
Quote from Sponger:

Learning how to trade futures in this environment is certainly not boring:p

School is in session!
More...

For me, and I've been doing this for a while, today is more luck than skill. I caught the first spike to 1390.25 and went short within 1 tick of that high. Rode it down 3 points. Caught the spike to 1393.50 within 1 tick of the its high and rode it down 3 points. Humbly, I say it was more luck than skill. I considered shorting again at 1390 after success the first time, but luckily held off and through in a short at 1393.25. That became the difference between a win and a loss.

So, be careful what lessons you take away from wide-range days like today. Are you a genius? Or, are you just lucky?
 
Quote from Sponger:

Hey Apex82, sorry for my ignorance here.

When trading is over today, would you be so kind as to briefly describe your analysis of support and resistance? Are you elliot wave? Your charts have a lot going on them - can you give a little primer on what you are doing on them?

I apologize in advance to all if this is covered elsewhere in the thread - 1500 pages is daunting, can someone point me to the approximate whereabouts in the thread if this has been covered?

Good trading to all today :)
More...

i've been reading this thread since the beginning, and i'm pretty sure it's not covered.

as another (semi) newb, i'd also like to know what all this stuff means, if apex cares to share...stuff like wave 3 and wave c and how to tell what's happening when.

i hadn't wanted to ask for fear of being a pest, but now that there's other newbs around, maybe apex won't mind schoolin us all together....:)


one other comment: apex you're my kinda guy (or gal). i'm with ya on all that eat, sleep, and breathe the markets thing. it's a passion.
 
Quote from wareco:

Sad but true Osorico. :mad:
More...

Nothing sad about booked profits. :D In fact, for me there is something very soothing about it, in my otherwise hectic world.

Good trades to ya,
Osorico :)
 
I'm getting schooled alright!

Actually, for the first time I stopped trying to pick tops and bottoms (thanks to that RASL thread :eek: ) and went with the trend on all trades.

Now the issue is, determining when the trend for the day has changed :mad:
 
ok, i looked up the elliott wave theory for myself. now i can follow the wave 1-5 and a-c. and i understand (at least in theory) support and resistance.

still would love to know how apex uses the charts to determine the next wave, trend, etc. maybe (s)he'll school us after market or when (s)he gets a chance....
 
Quote from JimmyJam:

S @ 1389.00, PS ! 1342.00
***
Price action is tough to game (for me at least), reversed long @ 1389.75, PS @ 1386.75

JJ
More...

Out @ 1395.75, +6pts is good enough on a back-and-forth day like today.

Speaking of lessons, here's one that I'll keep in mind:

The financial indices have a tendcy to chop and backfill after entering a position, if your position is showing less than $100 of profit, let it work itself out.

This means that sometimes your protective stop would be hit instead of just taking a trade for scratch, but more often than not, your trades will run for a nice profit.

Good trading,

JJ
 
Status
Not open for further replies.
Back
Top