ES Journal Archive (2006 - 2008)

[mbusch]

L 1443.25
SS 1441.75 (1.5 points)
PT 1464.75 (21.5 points)

If 1446 paints, will raise SS to breakeven.

EDIT: Stopped out for -1.5

 

[JSSPMK]

Osorico, you have not considered different support and resistance levels on short term charts and longer term ones, trading same 1 lot a person trading 240 has to allow wider stops, if he is to trade it as Buy1Sell2 does, which can be 20 points when on a 2 min chart daytrader's stop could be 1-2 points, hence you need to dedicate more capital per 1 lot when trading a chart that requires much wider stops. I think that's what Pekelo meant and I am of the same opinion. On the other hand you can say that you will only trade 240 near its critical support/resistance levels, in which case you are correct also.

 

[mbusch]

At 2:40 ET
L 1439.25
SS 1438.25 (1 point)
PT 1465 (25 points)

At 3:00 ET, raised SS to breakeven
Last paint 1445.25 +6

 

[Chuck Krug]

/sh 1445.75

 

[Chuck Krug]

stopped out -0.75

 

[Chuck Krug]

looks toppish though imo

 

[apex82]

Quote from elovemer:


if you had gone short at the high of the bar of the monthly sell signal... you would have had to endure 20 points of heat.... to the high of the reversal bar which began the ride down.
respect ... to all

My setup and position was coming off the weeklies but my entry was off the 5 min chart that required a 2 pt stop. Now sitting at over 100pts in profit... Batting average will be low... but Im all about making money, not being right. I believe higher timeframes should be used if you really want to take your trading to the next level.. just my opinion though. Nothing beats a position trade with a scalp entry/risk/position sizing and riding it for a whole new trend.

buenos noches..

 

[mbusch]

Quote from mbusch:

At 2:40 ET
L 1439.25
SS 1438.25 (1 point)
PT 1465 (25 points)

At 3:00 ET, raised SS to breakeven
Last paint 1445.25 +6

Last paint 1448.25, +9 points

Getting a bit overbought here, so bringing stop up to 1444 and will be trailing it up to protect profit.

 

[mbusch]

Quote from apex82:

buenos noches..

Have a chimichanga for me! (I don't do carbs.)

 

[apex82]

Quote from mbusch:

Last paint 1448.25, +9 points

Getting a bit overbought here, so bringing stop up to 1444 and will be trailing it up to protect profit.

nice one.....

1455 is line in the sand for tomorrow. If it stalls at that level you want to be short with a tight stop for a move down to 1425... if its blast through it you want to be long on the dips.