ES Journal Archive (2006 - 2008)

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Just caught a little scalp short at 1403-1402.25.
Not much, granted, but after teaching school all day, my brains FRIED.

Happy Birthday Apex.
Thanks for all your postings.

Ian
 
Quote from increasenow:

hello trading friends...can you tell me why one would want to trade the ES when the ER gives a 1 point value of $100 and .10 spread and ES gives a one 1 point value of $50 and .25 cent spread?...please share..thanks!!
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The er2 will eat up accounts in one day for beginners. Some may get lucky and last a week and then one day they will just get absolutely crushed. If you are going to trade the er2 put in at least 100+ hours of screen time and have a strict trading plan. It is a scalpers dream but requires much more control then other index's.

I moved most of my trading over to the er2 due to not being able to get filled on the ES with limit orders.
 
Quote from apex82:


I moved most of my trading over to the er2 due to not being able to get filled on the ES with limit orders.
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I don't trade the ER, but that sounds counter-intuitive to me. The ES has several times more depth at each level than the ER. How can you get better limit fills in the ER when it has so much herky jerky movement?
 
Quote from wareco:

I don't trade the ER, but that sounds counter-intuitive to me. The ES has several times more depth at each level than the ER. How can you get better limit fills in the ER when it has so much herky jerky movement?
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Ya you would think so... I know. With the ES, I cannot get filled on limits unless it trades through my price, even if I was trading 1 lots, it wouldnt matter. I have one of the fast connections to the exchange and have also left an order in overnight only to see it hammer it in the day session for 5 minutes without a fill.

If you can get filled on extreme ticks in the ES... let me know.
 
Last trade o' da day...

S YM 2@320 stop @328. Finally got some confirmation . Naturally its late, will be out flat by 4:00pm est, win or lose.

FWIW; only been trading 2 cars per today. Normal size is 4 to 8. I have as much conviction as the market :eek:

Also, did anyone notice the mini-divergence between ER/NQ and ES/YM? ... ER/NQ ticking down, ES/YM ticking flat to up.

Play what you see :)
Osorico

EDIT: Stop @318, ahereing to my 12pt in the good stop technique.

EDIT: stop @314, adhering to 18pt to the good technique ie 1/3. If it holds, and move continues next stop will be 304

stopped. flat @314 3;59pm +6(x2)
 
I'm constantly amazed at how the ES breaks support/resistance cleanly and with conviction during afterhour trades. I need to start thinking S/R are quite useless in pre-market/afterhours.

They're just gunning to break resistance levels with little volume.

:mad:
 
Quote from polpolik:

I'm constantly amazed at how the ES breaks support/resistance cleanly and with conviction during afterhour trades. I need to start thinking S/R are quite useless in pre-market/afterhours.

They're just gunning to break resistance levels with little volume.

:mad:
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Absolutely, outside of market hours is just about anything goes. I tend to avoid it because you get none of the basic stuff like TRIN/TICK/Advancers/Decliners so your only indicator outside of price itself (not even volume) is really World Markets and news; and those aren't exactly very reliable at least to me. Unless it's something very obvious, I say skip it. I suppose some trade it well, unfortunatley I can't as it looks like a complete gamble. Hats off to those that trade it well, that's for sure.
 
Thanks for sharing your scaling method Apex82, you and AustinP opened my eyes to a better way to exit for me - psychologically speaking.
 
Quote from Sponger:

Thanks for sharing your scaling method Apex82, you and AustinP opened my eyes to a better way to exit for me - psychologically speaking.
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No problem.

I was stopped out ast night at 1416.75 only for the market to drop back down again... You can see how booking the small gains enables my trades to be profitable even though my analysis has been wrong.

After doing my analysis I will be waiting for 1430-1431.50 before putting on a large size short.

Expecting a range reduction day again due to the FOMC. Watch the er2 they will most likely try to run the stops above that 797 pivot. There is a brick wall at 801-802.
 
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