ES Journal Archive (2006 - 2008)

[Jaxon]

ok... but even that trade is now gone! buy 1514.75 and sell 1515.00?
I'm going out to enjoy the weather.

 

[apex82]

Quote from apex82:

Nice... they did it again just barely missing my entry. I was able to get some on on a reversal entry but not nearly as big of a position that I wanted...


Looking for a move to test 1515.. it is almost there and then 1518 where I will contemplate a short position for a massive downturn in the market. Most likely wait for a bit of confirmation on the short due to the bullishness of this market.


US futures current positions....

Long es from from 1509
Short er2 into the close at 837

taking profits here on er2 short from 837

+3pts


Currently long 1 unit from 1509 on ES

what a slow day...

 

[JimmyJam]

yea, the inexorable grind continues upwards ...

 

[riaamaan]

The same old pre FOMC meeting routine. Saw this coming. This thing probably won't move significantly until Wed at the announcement.

 

[princessa]

Quote from Jaxon:

I'm sure somebody has bought 1514 and sold 1515 about 100 times today!

ya, wish that were me. i'm just flat.

 

[princessa]

actually, i have made more money going for 1-2 point moves than trying to go for bigger moves. when i do the latter, i always seem to lose...but maybe that's just me. also, unlike the position traders here, i don't hold overnight, much less for several days.

 

[Buy1Sell2]

Quote from osorico:

I agree. But the cliche' "let winners run" must be kept in context of the strategy being used. A scalpers rendition will differ from a swing trader which will differ from a position trader. Yet all adhere to the principal. None of the interpretations or implementations are "improper".

Osorico

Well, this is exactly what I tout. Letting a winner run on an intraday chart may mean using a target and letting it run to that target. What I don't believe in is pulling the plug earlier than the target or trade maturity regardless of strategy or time frame.

 

[osorico]

Quote from Buy1Sell2:

Well, this is exactly what I tout. Letting a winner run on an intraday chart may mean using a target and letting it run to that target. What I don't believe in is pulling the plug earlier than the target or trade maturity regardless of strategy or time frame.

As long as you acknowledge not all strategies use or require targets, and your definition of "trade maturity" accounts for the differing trade styles and strats, I agree.

Osorico

 

[Buy1Sell2]

Quote from osorico:

As long as you acknowledge not all strategies use or require targets, and your definition of "trade maturity" accounts for the differing trade styles and strats, I agree.

Osorico

Certainly! There are many viable strategies, but you need to let the trade run, whether it is to your target or to a stopout or reversal. That is the same principle that needs to be followed for whichever timeframe or strategy that is used.

 

[apex82]

Quote from apex82:

looking for a move to test 1515.. it is almost there and then 1518 where I will contemplate a short position for a massive downturn in the market. Most likely wait for a bit of confirmation on the short due to the bullishness of this market.


US futures current positions....

Long es from from 1509
Short er2 into the close at 837 [/B]

Out at breakeven from remaining ES long at 1509

Missed entry for big decline on short by 1.25pts....

Watch this 825-826 area on er2... its key