ES Journal Archive (2006 - 2008)

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Quote from apex82:

taking more off at 1529.. dont like the price action

will get back in more on a break of 1527.50 with a tight stop. just playing it cautious here. Low volume and buyers seem eager.

Back in short with another addon stop at 1529.25..
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Getting out at breakeven here on addon... jeez just cant seem to take it down so they will probably take it up
 
Quote from JimmyJam:

No point in shorting an uptred.

L @ 1528.75, PS @ 1526.75

JJ
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The trend is your friend until its about to end... Thats when I short an uptrend
 
Quote from JimmyJam:

No point in shorting an uptred.

L @ 1528.75, PS @ 1526.75

JJ
More...

That trade was stopped out for -2pts, but the Double Bottom set the tone for today's action, and I'm still looking for an Up Close.

JJ

P.S. L @ 1529.00, PS @ 1527.00
 

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Quote from apex82:

Getting out at breakeven here on addon... jeez just cant seem to take it down so they will probably take it up
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Jeez is right. They can't seem to take it either way from these levels. FWIW; ER is MUCH stronger then RUT cash. Back to YM for 50m. Taking shorts only between 13585-13555.

Good trading to all
Osorico :)
 
Quote from apex82:

The trend is your friend until its about to end... Thats when I short an uptrend
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Yeah, I agree 100%, and there are substantial profits to be made along the way while it is in force.

In fact, that's where I belive the profits are, with the trend.

Because when everything is said and done, and a trader has taken all of his/her trades for profit, breakeven, and (hopefully small) losses, it's the volatility provided by the directional impetus of trading with the trend which is going to put you net positive in the long run.

Good trading,

JJ
 
Quote from JimmyJam:

Yeah, I agree 100%, and there are substantial profits to be made along the way while it is in force.

In fact, that's where I belive the profits are, with the trend.

Because when everything is said and done, and a trader has taken all of his/her trades for profit, breakeven, and (hopefully small) losses, it's the volatility provided by the directional impetus of trading with the trend which is going to put you net positive in the long run.

Good trading,

JJ
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Ya I agree.. even when the trend is changing markets will generally be forgiving and set up a double top or double bottom which allows you to get out for a profit.

However, I believe that trading countertrend will always have the best risk/reward but of course a lower probability of working out. Some people can only trade with the trend.. as while others only trade countertrend. I like a combination of both so I am always on top of my game and not just seeing what I want to see.
 
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