ES Journal Archive (2006 - 2008)

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Buy1Sell2,

Do I have it correct that you try to remove emotions of the market as well as your own by relying indicators only to define trend and recieve signals? Do you allow any sentiment based analysis to enter into the decision or do you try to stay away from that. Just interested in your psychology. Being around in ET and listening to all of the ravings in the media gets things muddled. Wondering about your state of mind? Any advise welcome.

Sincerely,

JIM
 
Quote from volente_00:

You posted this right near the top before we pulled back nearly 180 points. How are you going to tell me you can set far out point targets when you are wrong on the direction ? My point is no one knows what the market will do on a longer time frame. It is easier to predict shorter moves because there are to many unknown variables for the longer term.
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By the way, if I was long with a 200 point stop and the market rallied eventually 600 points, that would be a 3 to1 reward to risk. ( I am not doing that). Sounds weird, but 401 k'ers are doing that all the time. The difference is that they are not using leverage. On position trades I am also underleveraged. :)
 
Quote from Allen3:

Buy1Sell2,

Do I have it correct that you try to remove emotions of the market as well as your own by relying indicators only to define trend and recieve signals? Do you allow any sentiment based analysis to enter into the decision or do you try to stay away from that. Just interested in your psychology. Being around in ET and listening to all of the ravings in the media gets things muddled. Wondering about your state of mind? Any advise welcome.

Sincerely,

JIM
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That is exactly my MO. I have no emotion with the market or more correctly perhaps, I supress it well and I use no sentiment analysis. --Just the charts and indicators on several time frames. :)
 
Quote from Buy1Sell2:

At that time, that is how the chart looked. However you will see that I exited not long after and have been out of longs on apositional basis since the mid 1500's.
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That is my point though, even good traders often get fooled by the chart. One mans noise is another mans goldmine.


:)
 
Quote from Spectre2007:

see how someone pressed the break, but that 'presser' needs to revitalize his cap, meaning he needs increase cash reserves, once you press and you don't have others pressing with you, and you try to increase cap back, price rebounds and more slippage is there..

edit: you want to see slippage in your direction. It tests the inherent strength of the market, if its fragile, the slippage will be in your favor, and if its strong, then slippage will be against you as you try to revitalize cash reserves.
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I suppose a slippage indicator could be constructed, will give you a intraday indication of market conditions.
 
Quote from Buy1Sell2:

That is exactly my MO. I have no emotion with the market or more correctly perhaps, I supress it well and I use no sentiment analysis. --Just the charts and indicators on several time frames. :)
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Thank you much. I have a feeling based on some recent reading you just deal with your emotions in a constructive manner. Unlike 95% of traders out there. Thanks again.

JIM
 
Quote from Buy1Sell2:

By the way, if I was long with a 200 point stop and the market rallied eventually 600 points, that would be a 3 to1 reward to risk. ( I am not doing that). Sounds weird, but 401 k'ers are doing that all the time. The difference is that they are not using leverage. On position trades I am also underleveraged. :)
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If you have 20 years to burn and can stand the heat then the strategy works just fine.
 
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