ES Journal Archive (2006 - 2008)

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Quote from apex82:

Exactly thats why I went long... its my trading plan. If it doesnt get back above 1448 soon I am bailing on the trade. This is catching a falling knife at its finest... with a 1 to 10 risk to reward ratio
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ES is respecting resistance and is having a hard time rallying exiting 50% of position at 1447 here for a point profit. I will add on a retest if I see strength.

EDIT: if it can get above 1449 we should get a nice short covering rally
 
Quote from volente_00:

I'm with oscar but not quite sure why he always shorts so early.
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I would venture to guess he knows his levels before the day begins and he usually uses pretty wide stops to give the whole thing adequate breathing room.

Given that, one needs a pretty sizable account to take those stops and still only have risked a prudent 1 or 2%.

His directional component has a nice track record thus far.
 
Quote from apex82:

not trading to heavily due to the volume. But this is what I am looking at. I am short from 1457.50-.75 stop at 1461.25. I will be adding on at 1460.25 with a 2 point stop. Looking for a move down to 1449.50-1446 before we get the next decent bounce. I will probably need to hold overnight. I will however be holding some runners short if I am not stopped out for a homerun. We have the possibily of getting another huge decline from this zone so I want to leave some exposure in case it happens.

The ideal short would be at 1460.50-1461 with a 2 point stop and go for a nice winner. I just have some other things that are putting me in a little earlier.

This is trade is countertrend, but meets my criteria therefore its a reduced size trade.
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Ya not a bad call by Oscar but hes just piggy backing me. I had the trade 2 days earlier with a 1/4th the risk and also gave the low of the day for today 2 days in advance....

This is how it played out..

http://elitetrader.com/vb/attachment.php?s=&postid=1428797

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Quote from obi_won:

As he saids the market determines his stops and his stops are smaller now.

you have to give the market a chance to follow the direction of his stops. He does not get stopped out very rare it seems.
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No doubt, 24 years in the pits...Oscar has shown some serious talent.
 
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