ES Journal Archive (2006 - 2008)

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Quote from romik:

Going to hold position, charts look too good to close it here.
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I'm holding long too. Thought we would get at least some upward movement after Alcoa but all we got after the bell was a drop. Fed notes in the afternoon will provide some fireworks I'm sure.
 
Quote from romik:

Going to hold position, charts look too good to close it here.
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ES & NQ have 1 unconvincingly shaped open/close candle below 20MA, when FTSE & DAX are clearly above their 20MA. Where is it going to tilt to, US or Europe? I must admit 240 did look like a top to me previously, the problem with believing & not seeing factual price confirmation is a 50/50, compared to a scenario when price actually starts confirming personal bias by closing below the 20MA. At the moment it is not clear whether it is going to be up or down. Germans seem to remain bullish, the Brits are neither here or there, though still above 20MA & you guys are just below 20MA. Today there's Bernanke @ 1pm EST & FOMC minutes @ 2pm EST. I am out of the market for -0.50.

Good luck!
 

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This flat market is killing my account as I have really done poorly the last few days. I missed out on all the action last week as I was away from my computer all week. Then I come back to trade a flat line market and get chewed up. I'm out until after the Fed stuff later today.
 
Quote from ryank:

This flat market is killing my account as I have really done poorly the last few days. I missed out on all the action last week as I was away from my computer all week. Then I come back to trade a flat line market and get chewed up. I'm out until after the Fed stuff later today.
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Can't be helped.

You can either trade for the trend, OR trade for the reversal (counter-trend).

Or you can trade multiple indices, one trend, the other counter-trend once you have sufficient capital.

Or you can trade Long/Short, using the same idea.

Or you can trade multiple, non-correlated indices (financials, energy, or financials, notes, etc.)

Or you can just trade one indice, but use position sizing and money management to your advantage.
***
These are just some of the ideas that traders implement to trade successfully.

Good trading,

Jimmy Jam
 
Quote from romik:

ES & NQ have 1 unconvincingly shaped open/close candle below 20MA, when FTSE & DAX are clearly above their 20MA. Where is it going to tilt to, US or Europe? I must admit 240 did look like a top to me previously, the problem with believing & not seeing factual price confirmation is a 50/50, compared to a scenario when price actually starts confirming personal bias by closing below the 20MA. At the moment it is not clear whether it is going to be up or down. Germans seem to remain bullish, the Brits are neither here or there, though still above 20MA & you guys are just below 20MA. Today there's Bernanke @ 1pm EST & FOMC minutes @ 2pm EST. I am out of the market for -0.50.

Good luck!
More...

FTSE & DAX again ahead of US markets, IMHO if current candles close as they are or higher, then we go to 1470+ area. And check out how smooth the curves of 20MA are in the above 2 charts in comparison to the other 2 below.
 

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Quote from JimmyJam:

Can't be helped.

You can either trade for the trend, OR trade for the reversal (counter-trend).

Or you can trade multiple indices, one trend, the other counter-trend once you have sufficient capital.

Or you can trade Long/Short, using the same idea.

Or you can trade multiple, non-correlated indices (financials, energy, or financials, notes, etc.)

Or you can just trade one indice, but use position sizing and money management to your advantage.
***
These are just some of the ideas that traders implement to trade successfully.

Good trading,

Jimmy Jam
More...


I know it can't be helped, it is part of the deal (still sucks though :mad: ). I need to keep the faith and keep taking the signals, just dropping my risk a bit for now.
 
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