ES Journal Archive (2006 - 2008)

[apex82]

My portfolio consists of:

short:
pxp,es, spx, joe,cof, hwcc,hmy

long:
nat gas.... (hanging on), corn, onxx

all for large targets and tight stops.

 

[princessa]

Quote from smilingsynic:


Gaps don't have to be filled to be exploitable in trading. Does something have to ALWAYS be right to be worthwhile?

Everything in trading not only "can be wrong" but often IS wrong. Traders deal with probabilities, not certainties. Those who want strategies that cannot be wrong are in the wrong business.


The mind is like a parachute: it only works well when it is open!

amen and amen.

i would write more, but he said it better than i ever could....

 

[Buy1Sell2]

Quote from Buy1Sell2:

Long 1537.75 Full daytrade position on. No hard stop.


Turning off computer and walking away. Talk to everyone again soon.

Trend remains up here. Maintaining long.

 

[Buy1Sell2]

Quote from dmartin:

Buy1Sell2,

Thank you for your trade AND why did you make it? What was your premise? I know your bias is long and why go in at 1537.75?

DMartin

No criteria was used here except that the trend is up. The point is that it is very hard to lose large sums of money when trading properly (ok smiling?) with the trend. I walk away and I am down about 8 points.

 

[Buy1Sell2]

Quote from rodmike9:

Quote from Buy1Sell2:

Gaps don't have to be filled ---ever. Best to find a bias and trade a fresh signal in the direction of that bias. Example: If the bias is long and price fills a gap to the downside, you will most likely get a fresh long signal at some point. Gap analysis adds one more very subjective variable that can be wrong. Gap analysis is unnecessary in trading and should be discarded. [/QUOTe

Do you want to provide research to support your claim? Your statement is contradictory at best.

Gap analysis is unnecessary for who, you?

What is humorous, if you were to read what you wrote, is that you included a form of 'gap analysis' in your statement.

LOL, gotta luv ET

There is no gap analysis in my post. When a gap is filled to the downside,, there is necessarily pullback. When we pullback in a an uptrend we generally receive fresh long signals whether there is a gap or not. Notice that I don't say, "When a gap is filled to the downside, immediately buy"---that would be gap analysis.

 

[volente_00]

Quote from Buy1Sell2:

No criteria was used here except that the trend is up. The point is that it is very hard to lose large sums of money when trading properly (ok smiling?) with the trend. I walk away and I am down about 8 points.

The problem with your trade was you let a 4 point loser turn into a 8 point loss. Why not use a trailing stop and avoid having winners turn into losers ?
If the the trend was still up, why did you sell the last long at 1488.50 ?

 

[Buy1Sell2]

Quote from volente_00:

If the the trend was still up, why did you sell the last long at 1488.50 ?

Because I also had a long position in Dec NQ which I am still holding.

There is as of yet, no problem with the trade put on today. 8 point loss on a daytade size position is virtually nothing.

The whole point of putting a trade on for Dmartin was to show that if that trade is in the direction of the predominant trend, it's hard to lose t on of money right away Daytrade size allows you to carry into the overnight if you wish without much risk , even if the bottom falls out.

 

[jason586]

Quote from Mins:

Im out here last unit at 1534.25. Odds certainly favour the shorts tomorrow imo

I'm hoping you're right although there are a lot of differing opinions on tomorrow. Seems like every other post here says a different direction.

 

[volente_00]

Quote from Buy1Sell2:

Because I also had a long position in Dec NQ which I am still holding.

There is as of yet, no problem with the trade put on today. 8 point loss on a daytade size position is virtually nothing.

The whole point of putting a trade on for Dmartin was to show that if that trade is in the direction of the predominant trend, it's hard to lose t on of money right away Daytrade size allows you to carry into the overnight if you wish without much risk , even if the bottom falls out.

Just curious why you held nq and not es ?


Many losing trades start out as day trades, then they turn to swing trades and then they turn to 401k holds.

 

[Buy1Sell2]

Quote from volente_00:

Just curious why you held nq and not es ?


Many losing trades start out as day trades, then they turn to swing trades and then they turn to 401k holds.

This is why daytrade size should always be equal or less than overnight size. Most failed daytraders do not recognize this and do the exact opposite.

I view the NQ weekly chart as having more upside potential.