ES Journal Archive (2006 - 2008)

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Quote from mbusch:

Yes. In fact, I specifically beat myself up yesterday when I was short and the price met my PT1 and I got greedy and decided to try to hold out for PT2. Stupid, stupid, stupid! :)
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In the long run letting it all run to PT2 will net better profits. That is if PT2 has been calculated correctly. :)

Trail a stop up if you wish. Breakeven is almost never a good stop unless you have been in the trade for a while and the trade has moved significantly in your favor.
 
see how the market keeps testing bearish price points, this is not what you want to see intraday...

you want to see a market that keeps pressing the bullish price points..

if today was inherently bullish it should be test 80 at this point in time.

ano
 
Quote from mbusch:

...presently long from 1468.75 with a 3-tick stop at 1468.00. If I'm stopped out of this one, I'll be flat and re-evaluating.
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I'm out of this trade at breakeven. Can't seem to get any real momentum going to the long side here. Flat until I get another setup in one direction or the other. I really was hoping to see a nice run of stops above 1473, but the bulls seem to be taking an early nap.
 
Quote from dmartin:

Are you sure you mean't to say hourly trend continues to be downward. I am looking at an hourly chart and sure appears to me upward. If you see the hourly chart in a downward mode could you please define that?

DMartin
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No, I meant downward. Hourly trend right now is slightly long. Longs only or no trades should be the order right now. This is a very tenuous intraday trend which could reverse very very easily and head back down. Reminder to all-- the daily chart has some initial bull signs to it, not the least of which was the afternoon action of 8/16, but the weekly looks to have more downside to it at the moment. Just something that I keep at the back of my mind to keep from being too complacent with longs. :)
 
Quote from wave:

There's gold in them there sentences. The thrill of catching the mega move. Hands down, this is the best advice on ET.
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All I have to say is there a boat load of money to be made in the noise. 6 to 10 points stops ? I would rather make 3 to 5 trades with 2 point stops that all have a probability of becoming big winners versus blowing my wad on 1 trade with a stop that big. The market constantly presents opportunities to pick money out of it. With the vol we have had lately not even a 10 point stop is safe.
 
Quote from Spooz Top:

i`ll be in mexico next week to recharge my batteries,which are fried.....so good trading next week to all.
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Be careful! Apex went to Mexico, and no nobody's seen him for a week!
 
Quote from Buy1Sell2:

In the long run letting it all run to PT2 will net better profits. That is if PT2 has been calculated correctly. :)

Trail a stop up if you wish. Breakeven is almost never a good stop unless you have been in the trade for a while and the trade has moved significantly in your favor.
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The problem is in the math. If pt1 has shown to be reached 70% of the time, but pt2 has only been shown to be reached 25% of the time, then one must put the money in the bank and not allow greed to let a winner turn into a loser. This game is about consistently making money hitting singles and doubles, not trying to hit a homerun on every trade.
 
Quote from volente_00:

All I have to say is there a boat load of money to be made in the noise. 6 to 10 points stops ? I would rather make 3 to 5 trades with 2 point stops that all have a probability of becoming big winners versus blowing my wad on 1 trade with a stop that big. The market constantly presents opportunities to pick money out of it. With the vol we have had lately not even a 10 point stop is safe.
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Yes volente there is money in the noise trading . Lots of it. But if one learns to keep his stops out of the noise he can run a poistion from 1370 to 1470 and only give back 6-10 points at the top when he is stopped out and at that point he or she may already be short as well.
 
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