ES Journal Archive (2006 - 2008)

[apex82]

A nice way to play this would be a sell stop at 1484.50 and then once entered a stop above the previous pivot high.

 

[MiniDowTrader]

Quote from spike500:

As you said: it's your opinion. But therefore it is not necessarily the truth.

I daytrade "trendfollowing" and i never gave back 20% of my brut profits. That's normal, because my average profit per trade is bigger than my average loss per trade, and i have a high rate of profitable trades. If a have 50% of losing trades, i still make money.

Opinions are mostly based on personal experience. This means that opinions only have value if you have lots of experience in a very wide range of products and techniques.

In the jungle of Africa there are places where people believe that the fastest way to move is by foot. That's logic and true if they don't know bicycles , cars, trains and airplanes. But they don't realize, as you do neither, that their opinion is limited by what they know.

Geez Spike! Thanks for exposing my peabrain.

Do you spend a lot of days buying or selling at the open and then holding til EOD without giving profits back in the ES? Unless my definition of a trend day is different than most...

MDT

 

[tiddlywinks]

Quote from JimmyJam:

Yep, here's where the rubber meets the road.

Somebody's having steak for dinner and someone else is breaking out the Ramen.

JJ

The best of both for me!
Grilled Sirloin Steak with Hearty Vegetables

 

[fearless9]

Position Sizing??
Here is a thought to ponder on.

The ES lunges from level to level with remarkable consistency at times.
It may appear to be random, but it is not.

These moves will net a Trader 3-12 tics per trade with a very low risk of taking a loss.

Better still, make that a very very low risk, since either the price is going to run or it is going to fart around for a short time offering you a safe escape.

Therefore, you can forget position sizing, money management or any other supportive technique.

Once you see this setup and learn to apply it without thinking, you will become bulletproof.

And I do mean 'without thinking'

 

[TrendPro]

Quote from tiddlywinks:

Doesn't matter hard move or not. Stepping in front of a bus is not my gig. 3 scenarios doing that:
* You're right. Great entry!
* Your wrong. The bus rolls on.
* Your stuck. Consolidation at a new level.

66% chance of being not being right. Needs very strong technical, news, etc reason to offset.

Playing pivot point pitch and catch in the middle of a busy street during rush hour...umm not my idea of a fun way to start the day. but hey, as was pointed out 10 or so pages back, the ES does not trend intra-day...trade off "key" price levels ...remember ?

 

[fearless9]

Quote from TrendPro:

Playing pivot point pitch and catch in the middle of a busy street during rush hour...umm not my idea of a fun way to start the day. but hey, as was pointed out 10 or so pages back, the ES does not trend intra-day...trade off "key" price levels ...remember ?

You are a thinking man TP.

 

[TrendPro]

Quote from tiddlywinks:

Drop the ego for a moment and please explain something to me:

Why would a loss result in a change in sizing?

IMO, trading equal size positions accompanied with defined risk management is a more judicious way to trade. Changes in position size should only be employed when the market suggests doing so and based on your setups. It should not be guided by previous trade PnL.

... I think the change in position sizing has something to do with margin requirements and blowing out your underfunded account fighting the trend....opps sorry.... fading the price move through the next magic pivot point.

 

[JimmyJam]

Quote from fearless9:

Position Sizing??
Here is a thought to ponder on.

The ES lunges from level to level with remarkable consistency at times.
It may appear to be random, but it is not.

These moves will net a Trader 3-12 tics per trade with a very low risk of taking a loss.

Better still, make that a very very low risk, since either the price is going to run or it is going to fart around for a short time offering you a safe escape.

Therefore, you can forget position sizing, money management or any other supportive technique.

Once you see this setup and learn to apply it without thinking, you will become bulletproof.

And I do mean 'without thinking'

I know you're a big guy and everything F9, and I don't want you to beat me up, but, LOL - this is KRAZY!

The only way I can even survive in the game and hope to win is through my position sizing and money management (it certainly isn't my trading - and I freely admit it).

I'll do good to net $100 - $300 a week per car trading the ES, despite shooting for $500.

Jimmy Jam

 

[PitchBlack]

Quote from MiniDowTrader:

Geez Spike! Thanks for exposing my peabrain.

Do you spend a lot of days buying or selling at the open and then holding til EOD without giving profits back in the ES? Unless my definition of a trend day is different than most...

MDT

Trendfollowing is taking all the intraday big moves.
It probably is all a question of a definition. But i won't start that discussion again. Thousands of pages have already be filled with that discussion.
2-4 trades max a day, most of the time several points net per trade.

 

[apex82]

Quote from apex82:

added on short at 1485.25
stop at 1486.75 1.5pts

target is 1482.50 1481.50 then hold for new lows.

another V bottom.... stopped out 1.5 pts on add on

Stopped out on trail stop for 7.5pt gain

now flat