ES Journal Archive (2006 - 2008)

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took profits didnt want to be greedy.

my stomach wont let me get long for a few weeks.

1508-12 or lower today...

2 fridays in a row poor close.


edit: its been a fight for the bull to keep its heads up, most of the time, the bull went up secondary to short covering. A market catalyst where you have relentless selling for a couple days should clean the market out.


usually just as intraday levels bounce off the extremes or get tested, so 1512 or so will be tested.

world markets look tipsy too.
 
Quote from JSSPMK:

You have to be very precise with the entries, I do it just with the use of histogram and certain amount of discretion as well. You have to look out for build ups and correlated set-ups between DAX and ES during US RTH. I also pay attention to where price is in comparison to the daily pivot.

I guess keeping losses small and let winners run a bit is the only way to trade a volatile future contract. I must add that I couldn't hack it when I used to trade all in/all out, scaling out is THE way for scalping DAX IMHO.
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one type

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1516438>
 

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3 drawdown, 9+ possible gain

That's basically it, I will start with 1 lot a lot of the time, get stopped out for around -3 and re-enter with 3 lots, scale out around +10 and leave last lot on, with a little help from God :) will catch a run, but that doesn't happen often.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1516473>
 

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<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1516519>

IMO conventional indicators are of little use if an index future hasn't got an ability to run (small range), that's what I found ES to be like, it needs quite a bit of build up for indicators to be worthwhile, they are OK for swinging ES, but few of us can live with the drawdowns. Also there is a lot of fading going on, referring to conventional t/a set-ups.
 

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Just dropping in for a sec.. havent traded the past few days. I like the long side at 1510.25-1509.50 if we can get down there today. However.. it is Friday and there is extra risk with holding over the weekend.
 
Quote from Spooz Top:

looks like we have a market then...:)
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I'm hoping for another small drop, have a buy order in for 1511.25 that I'm willing to hold over the weekend.

EDIT (2:52): Just moved buy order up to 1512.75 but still far off.
EDIT2 (3:06): Just filled, should have kept my original order, but that's ok. TP 1519.50
 
Explosive Materials Found In 2nd Car In London -CNN -2-Last update: 6/29/2007 3:03:59 PMNEW YORK (Dow Jones)--Component parts of a bomb have been found in a second car Friday that closely resemble those in a car bomb discovered near Piccadilly Circus earlier in the day, CNN reported, citing police and security sources. The second vehicle, which was being investigated by police in central London's Park Lane, was towed from a location close to Trafalgar Square, apparently by city officials who assumed it was parked in the wrong place, CNN said. Workers called police and said the car smelled like gasoline.
 
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