ES Journal Archive (2006 - 2008)

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Look at the daily charts on all the indexs....... bearish bearish bearish. If they take out this 1520 level... most likely the 10% correction has begun. Im still looking to go long at that area though... Low risk entries for large rewards.

13591 for YM
 
Quote from Spectre2007:

people are being forced to puke.. FOMC should be up 20 points that day when the FED does nothing.
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Who cares how you get your points. Your just guessing. Just wait and play the set ups each day for that day.

John
 
Quote from apex82:

Taking profit 2 here at 1536 It will probably get down to 1533.50-1534 but I dont want to be greedy.

+17.5pts on profit 2 (Missed my stop by one tick premarket.... lucky)

2 for 2 on swing trades both resulting in 10:1 reward to risk.... Thats how I love to do it... precise low risk entries and large rewards. Get rid of your emotional trading, stick to your plan and ALWAYS use proper position sizing and you will make more money then you can spend consistently...

Now currently short my last unit of ES, trailing my stop and will let this market tell me when to get out.
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as always, great trading, a.

i'm glad your caribbean trip didn't take you off the thread....
 
Quote from apex82:

Look at the daily charts on all the indexs....... bearish bearish bearish. If they take out this 1520 level... most likely the 10% correction has begun. Im still looking to go long at that area though... Low risk entries for large rewards.

13591 for YM
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No major YM levels until 13478... some minor stuff @ 13578, 13525, and 13494. Also a very small remainder gap from 6/13/07 @13438-44. Not worth much but it does exist.

On the upside YM 13670 is a major level... minor stuff @13730, 13750, 13776

Osorico :)
 
was betting on an outside day when i entered my shorts with some decent size around 10:30 only to be stopped at 49.25 is needless to say ,very painful.
 
just major stop runs to clear out retail longs, some key timing points approaching, the key is what the market does the coming days.

But you have to take everything with a grain of salt.

Countertrend moves are sharper then the longer term trends, if your gripped in fear, then you know that its what throws most people off kilter.

The market just gave us a 20 point cyclical discount, unless you think the worlds going to end. =)
 
Quote from Spectre2007:

just major stop runs to clear out retail longs, some key timing points approaching, the key is what the market does the coming days.

But you have to take everything with a grain of salt.

Countertrend moves are sharper then the longer term trends, if your gripped in fear, then you know that its what throws most people off kilter.

The market just gave us a 20 point cyclical discount, unless you think the worlds going to end. =)
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fear never entered into the equation.........discipline did & that`s the way the game goes.....period.

it`s about knowing when & when not to "bend"...not break your rules........a re-entry never occured because of the quick price action above 50......the volitility up top was the precursor to the sell along with IVB`s on the 60min ...then followed by the daily as the confirm.
 
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