ES Journal Archive (2006 - 2008)

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my gut is telling me, 1520 on FED day, and higher the days following it, with retests at 1500 even, till more conclusive evidence economy is falling out.

13800 on dow on FED day. If you look at daily charts, the downward trendy has already been broken, and 50 day MA is already breached.

all these long term indicators pointing higher.
 
Quote from Spooz Top:

very ominous H&S set up going into the fomc......bulls are going to want to take out that 1504 swing hi real soon.....or we`re looking at a 20 handle move down from the neckline.

i`ve been playing the long side only recently but am getting increasingly bearish going into tuesday.
this pattern is certainly something to observe with todays close telling us if this right shoulder( so far) is a prelude to something a bit bigger.bulls are going to want to close it over 1500.
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The chart you posted is far from being textbook.
 
Paul Tudor Jones is not a counter trend trader at all. He may like finding the turns, but he is doing so in order to follow a new trend. A counter trend trader is one who goes against the predominant trend, not to find the turns, but to pick up smaller sized gains on reversions to the mean. They acknowledge that they are trading against the trend and they use profit targets for exits. This is just one example where traders misunderstand the meaning of trend and countertrend traders. I have no interest in counter trend as it requires quite a bit more work with watching prices etc. Once I get in, many times I don't look at a market for several days again. This is the beauty of trend trading. :)
 
Quote from smilingsynic:

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". :-)
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The actual point is that it is hard to lose large sums of money when trading with the trend period.
 
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