ES Journal Archive (2006 - 2008)

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Damn, it was sure hard getting long. Finally got filled at 1431.00 on the little pullback, missing out on the first 6 points or so. Last paint is 41 for +10 so far, so my desperation measure were necessary, even if not pretty. :mad:

Will look to add on long at next pullback.

EDIT: Adding on here at 1435.50 with 6-tick stop.
 
Quote from mbusch:

Adding on here at 1435.50 with 6-tick stop.
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Add-on stopped out for -1.5.

EDIT: Re-entered add-on long from 1431.50, 6-tick stop. That was a textbook 50% pullback from 41; let's just hope it has run its course and we can resume our regular programming here.
 
Quote from tommymoose:

So glad I lowered my stop to 1423 before I walked out the door. :D
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Yipes, I *never* lower a stop. Why does almost everyone (save Apex) think that being stopped out is a bad thing. Seems to me more often than not it's a good thing because it lets you recover from a mistake (or a bad guess) for just chump change...at least if you use 3- to 6-tick stops the way I usually do.

The best homerun hitters in baseball all get twice as many outs as hits. It's part of the game.
 
Quote from mbusch:

Yipes, I *never* lower a stop. Why does almost everyone (save Apex) think that being stopped out is a bad thing. Seems to me more often than not it's a good thing because it lets you recover from a mistake (or a bad guess) for just chump change...at least if you use 3- to 6-tick stops the way I usually do.

The best homerun hitters in baseball all get twice as many outs as hits. It's part of the game.
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Well its still only a 2.25 point stop and I have my sell order at 1458. I'm liking the risk reward. I'd be stingier with my stops except for the fact that I started a job/internship and am unable to day trade... its just put the order in at night or before I leave for work if theres a good setup. 90% of the time I make no trade, but when theres a good setup I'll set the trade parameters and leave. From what I've seen in the past they like to blow a tick or two below the low before a big rally so I wanted to play it "safe".
 
Quote from Spectre2007:

on a long term basis.. 30-40 points left to the downside.. looking at past declines.
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At every party, there's a pooper. :D

Seriously, you're right of course. We are quite likely to go lower before this is done. I sold almost all my equity holdings in my pension plan before all this fun began, and I'm in no hurry to buy them back just yet.

But today -- maybe even the rest of the week -- is for the bulls to eat, drink and be merry. The hangover comes later.

I smell those buy-stops...
 
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