ES Journal Archive (2006 - 2008)

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Quote from Allen3:

04-26-07 10:54 AM

lose a little, win a little, win a lot.

Attachment: trend_pyramid.png
This has been downloaded 88 time(s).


Jimmy

Here it is in all it's glory. Only he doesn't seem to use this entry either judging from his posts.:confused: Nice illustration of how most people trail their stops though. Not much of a breakthrough for me there. Already doing that. Good day.

JIM

oops didn't attach. Back about 20 pages or so. :D
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OK JIM,

Thanks for the reference ... we've both been there and done that with the honey coated words, which when when asked to be proven, feel way short of the mark.

I'm not being negative folks, I just approach trading like a scientist, and everything needs to be proven to me before I'm going to accept it as fact.

Good trading,

JJ

P.S. Here's the annotated chart, a 1984 Sugar contract, with an analysis which I am sure was done in hindsight (looks good though).
 

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I went long at 1502.75 and am still long. I show that we're now above resistance at 1503.50 and the next resistance is at 1505.00. If we can get above 1505.00, I think we can go to 1509.00.

My protective stop is at 1502.25 and I will raise it if we get above 1505.00.

Suddenly I feel like the Lone Ranger.:eek:
 
Quote from mbusch:

I went long at 1502.75 and am still long. I show that we're now above resistance at 1503.50 and the next resistance is at 1505.00. If we can get above 1505.00, I think we can go to 1509.00.

Suddenly I feel like the Lone Ranger.:eek:
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Nah, you're good.

The breakeven programming in my NT App took me out of the trade when I had 8 ticks of profit in my trade, the market moved back down, and then took off again to the upside.

For anyone referencing my previous posts, I would've need 9 ticks of profit to realize the 8 ticks of profit, the market would've needed to have traded throug my OCO Sell Limit order.

I'm going to either move the programming to something like -3 or -4 ticks off my breakeven price, or just toss it, and either make my money on any given trade, or not.

Just talk'in shop.

Good trading,

JJ

P.S. Upon reflection, I'll go with the all-or-nothing option, I've plenty of trades bounce around and take me out at breakeven, and then move back-up to my profit target. So if I did the math (and no I have not) I bet it would come out slightly ahead.
 
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