ES Journal Archive (2006 - 2008)

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Quote from apex82:

Yes thats why I said I would get right back in the trade. If you trade with a minimum 3:1 reward to risk you can stand to get stopped out and still be very profitable.
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So rather than just staying in until you hit the stop you would have set if you had bought in the value zone, you'd keep the original stop then look for another reversal bar in the value zone to get back in?
 
Quote from Brucelee:

My long signal was confirmed at 1228.50 going to hang on for as much as I can get, hopefully 3 points, otherwise I will let it go at 1528
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Out 1530.25, had a sell signal and a sell confirmation,
 
Quote from JSSPMK:

So are you short? If not then why?
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No, I am not because the short signal, (RSI) was at 1531, I hoped it would run through it to 1531.50 but it didnt, until now as I see on the chart :mad:
 
Quote from tommymoose:

So rather than just staying in until you hit the stop you would have set if you had bought in the value zone, you'd keep the original stop then look for another reversal bar in the value zone to get back in?
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Not quite sure I understand what your saying.. but yes I would get back in on the next reversal bar if stopped out. I had a limit order at 1526.50 but it was missed by 2 ticks so I used my add on entry to get on my first piece.

I am long ER2 and ES but also see that they have room and a good possibility of making one more low. However, the reward is so high that I am willing to put on my position due to the confluence of the zone.
 
Quote from Brucelee:

No, I am not because the short signal, (RSI) was at 1531, I hoped it would run through it to 1531.50 but it didnt, until now as I see on the chart :mad:
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Another short signal at 1532, so I took it
 
What exactly is that "rule of 10" ? I noticed, in hindsight that we managed a 10.5 point range in the day session so far today (1537.50 to 1527) , and at least at the moment retraced exactly 50% of that range, 5.25 points to 1532.25.

Aside from achieving a 10pt range, I didn't see anything to tell me 1527 was support.
 
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