ES Journal Archive (2006 - 2008)

Spectre2007 · Sep 14, 2007

Quote from Mins:

So who is long from the open?

Im expecting to get to 1497.50 on my 2nd unit but with a trailing stop.

I offloaded some at 91.

Spectre2007 · Sep 14, 2007

Quote from Spectre2007:

irrespective, retail sales offers a discount for MM's to run some stops first, gap it down first then immediately up for the rest of the day. The basis for the trade is that the FED creates instability on the short side of the trade more so then the long side.

the theme of weakness will be pervasive, so the objective becomes how far down will they gap it first.

they couldn't even gap it below 85.

Mins · Sep 14, 2007

Quote from Spectre2007:

I offloaded some at 91.

Good stuff Spec, im out at 92.50, having trouble with my Esignal - and all my screen have gone down, lucky i have my laptops with back-up broadband conncetions.

Uncomfortable leaving this one while blind

Spectre2007 · Sep 14, 2007

i dont like the trendline break and double top on 60 minute...going to leave a minor short position in place...will add more as it confirms itself.

smilingsynic · Sep 14, 2007

Quote from Spectre2007:

market being held up...1498 target coming up.

expected a more negative reaction, it seems people still need to load up for the fed announcement.

Yes, 1498 would "fill the gap" for the December contract.

HolyGrail · Sep 14, 2007

I hate these straight up moves when I haven't made my entry decision yet.

islands111 · Sep 14, 2007

setting up for a 10:30 reversal

not quite sure yet.......

HolyGrail · Sep 14, 2007

I'm long at 92.50 assuming resistance at 92 is now support.

Spectre2007 · Sep 14, 2007

Quote from Spectre2007:

expect 1490 to be pivot, they will oscillate it around 1490.

i expect we oscillate...rest of the day. Going to headout in a few.

smilingsynic · Sep 14, 2007

Quote from Buy1Sell2:

Only picked up 2.5 points here, but what is shown by this is my contention that it very hard to lose big sums of money when trading with the trend. Yes, I only picked up 2.5. but I was with the trend and using a mental stop and went to sleep at normal human hours and still didn't have a big loss. Position sizing is also a big part of the plan. If you feel that you have to watch the screen all day, then the position size is too large. If you feel you can walk away, then your position sizing is either spot on or it is too small. Trade with the trend and live your life with more quality.

Make no mistake. I will only be looking for good long entries right now. If I miss a good extended shorting opportunity ( not just 10 points) , then so be it.

It is hard to lose "big sums of money" when one is disciplined enough to use stops and to not trade in excessive size in relation to one's capital. Less exposure equals less risk.

It is not a matter of "trend" versus "countertrend". :-)