ES Journal Archive (2006 - 2008)

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..long ES at 1485....
...out at 1486.50 ...
after longer move did not take....
.... failed to take the short at bearish divergence signal.... :(

edit... back in at 81.75 .... keeping it tight now...
.... out again....
 
Quote from CaptainObvious:

Bounced right off that Pivot for today ands upper Kelter as well. Nice profit on the down stroke.
<img src=http://elitetrader.com/vb/attachment.php?s=&postid=1546747
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Today sure is going to make that H2 note paid all that much easier this month!
 
Wow, whenever the bulls try to lift their head and make a run...the bears just hammer 'em down again...

It looks like long signals mean squat in this market.
 
<i>"In my opinion, large volatility will demand a change in position sizing and/or an increase in stop. The market dynamics have changed and will demand you change you money management otherwise you will get killed. One point stops are useless in this market when one minute bars show 2 point moves. Just my two cents."</i>

Strongly consider switching to tick charts. They will break up the big price surges on time chart bars.

I'm using 500 tick as a filter/signal and 200 tick as the signal setup yesterday & today. Traded 7am est thru 8:30am est for +12pts ES, then 9:30am thru now (with one break) for another 26pts per contract.

As a disclaimer, the price swings here have already equaled ten average sessions in the past four clock hours. Absolutely staggering range moves. I've missed most of the big swings so far, only taken small pieces of some.

*

This is pretty much what brown bears experience on Kodiak Island each year. The first bears in a stream struggle to catch a few fish. All of a sudden, the main salmon run arrives and there are fish galore. Schools swimming upstream to spawn, earlier fish spawned out and drifting downstream dead.

The bears stand there and experience mental overload. They are used to working hard for a meal. Now they are awash in fish going both directions, more than can possibly be used. Inexperienced bears chase & splash all around, out of control. Experienced bears focus on what fish they can capture and use, zoned in with concentration and tuning out the chaos around them.

Traders are experiencing sensory overload in a big way this week. Do not break discipline! If your trading approach is sound, it will hold up (or flourish) in these conditions. Faster charts may be necessary, depending on approach factors.

Soon this will abate, unfortunately. Since the time I began typing this note, have been short for +2, long for +1 and short from 1481 now printing 1476. We are awash in salmon again today... life as a bear is good on CME Island :>)

Focus and discipline!
 
Quote from austinp:

<i>"In my opinion, large volatility will demand a change in position sizing and/or an increase in stop. The market dynamics have changed and will demand you change you money management otherwise you will get killed. One point stops are useless in this market when one minute bars show 2 point moves. Just my two cents."</i>

Strongly consider switching to tick charts. They will break up the big price surges on time chart bars.

I'm using 500 tick as a filter/signal and 200 tick as the signal setup yesterday & today. Traded 7am est thru 8:30am est for +12pts ES, then 9:30am thru now (with one break) for another 26pts per contract.

As a disclaimer, the price swings here have already equaled ten average sessions in the past four clock hours. Absolutely staggering range moves. I've missed most of the big swings so far, only taken small pieces of some.

*

This is pretty much what brown bears experience on Kodiak Island each year. The first bears in a stream struggle to catch a few fish. All of a sudden, the main salmon run arrives and there are fish galore. Schools swimming upstream to spawn, earlier fish spawned out and drifting downstream dead.

The bears stand there and experience mental overload. They are used to working hard for a meal. Now they are awash in fish going both directions, more than can possibly be used. Inexperienced bears chase & splash all around, out of control. Experienced bears focus on what fish they can capture and use, zoned in with concentration and tuning out the chaos around them.

Traders are experiencing sensory overload in a big way this week. Do not break discipline! If your trading approach is sound, it will hold up (or flourish) in these conditions. Faster charts may be necessary, depending on approach factors.

Soon this will abate, unfortunately. Since the time I began typing this note, have been short for +2, long for +1 and short from 1481 now printing 1476. We are awash in salmon again today... life as a bear is good on CME Island :>)

Focus and discipline!
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The fast-paced action the last three day reminds of that famous I Love Lucy episode with Lucy in the chocolate factory. Experienced traders--and workers--have no trouble with a fast pace; inexperienced traders--and workers--will have no trouble once the pace becomes second nature. With experience and discipline, the inexperienced can make it. It takes time.

As a daytrader (I've traded stocks and options short term for years, but have done comparatively little daytrading), I am not there yet. The first 30 minutes of most days is simply too noisy for me, so I don't trade (but do take notes). I'll decrease my size until I am. :-)

Tick charts are worth looking into--I have thought about them before (thanks for the suggestion).
 
<i>"Tick charts are worth looking into--I have thought about them before (thanks for the suggestion)."</i>

Latest trade charted below... inside three minute's time total. One 3min chart bar forming could take more time than that +4pt trade execution.

See the difference in hyper markets?
 

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