ES Journal Archive (2006 - 2008)

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Quote from Spectre2007:

yeah,

heres my trade

1% of account equity

retrace point price/ma cross over(expected)1468

- 1442

= 26 points

26 points = 1% acct equity or higher based on preference

1% acc eq/ 26 points dollar value = # contracts

the 1468 similar to other instances gets violated on stop clearing to the downside. So the retrace point can be variable.

TP is 26 points minimum... or swing high 26 points + 68 = 94........

94 being the 1st resistance level..zone..

so I will look to get better then 68's..for the trade.
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The fog of TA-land is slowly clearing for me....to see that you can't wait for TA to tell you what to do......but to anticipate what will happen when the after-the-fact TA numbers get acted upon by the masses.:cool:

Thanks for that detailed trade "thought process" Spectre2007 - that is a gem of a post.
 
after this week, will be away from the screens and will be just swing trading. Goodluck to everyone. Most of what I've learned over the years, I had to do it on my own, no mentor.

But the key concepts in ES, are creating your support and resistance zones, and realize that price gaps when the zones get bounced off of or breached, and the price gaps to the next closest resistance/support zone. Stay away from making trades in between these zones, since most of the time the probability is your stop loss gets hit.

Also understand what your trading. Equities are upwardly biased. Meaning its easier for them to go up then down. And look for your indicators to hold that bias. Such the MA's I use or trendlines.

And also risk management, figure out what you can afford to loose per day, and stick to it. Let the winners ride to make up for the small losses.

goodluck,

Chris
 
Quote from Spectre2007:

after this week, will be away from the screens and will be just swing trading. Goodluck to everyone. Most of what I've learned over the years, I had to do it on my own, no mentor.

But the key concepts in ES, are creating your support and resistance zones, and realize that price gaps when the zones get bounced off of or breached, and the price gaps to the next closest resistance/support zone. Stay away from making trades in between these zones, since most of the time the probability is your stop loss gets hit.

Also understand what your trading. Equities are upwardly biased. Meaning its easier for them to go up then down. And look for your indicators to hold that bias. Such the MA's I use or trendlines.

And also risk management, figure out what you can afford to loose per day, and stick to it. Let the winners ride to make up for the small losses.

goodluck,

Chris
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Don't be a stranger, your contributions to this thread are appreciated by all.......
 
Quote from Sponger:

Them's fightin' words Bruce.....that guy has just as many cheerleaders as he does detractors on ET:p

Actually, his book has some good tidbits in it. But he is a vendor 1st and foremost.....and for that, BruceLee, I say to you...."I almost numchuck'ed you man.....you have no idea!"
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lol, sorry I didnt come across very well with that post. Yeah, the guy makes a lot of money selling his news letters etc, that one is free though. But, I thought it interesting that he explained the entry well, what with the fib retracement and gap fill. He turned out to be right on his TA.
 
Quote from Brucelee:

lol, sorry I didnt come across very well with that post. Yeah, the guy makes a lot of money selling his news letters etc, that one is free though. But, I thought it interesting that he explained the entry well, what with the fib retracement and gap fill. He turned out to be right on his TA.
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Actually, there are some vendors that have some very good trading information...its what you do with it that counts. With your sreen name, I just had to use that "Wedding Crashers" line!
 
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