ES Journal Archive (2006 - 2008)

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don't know spooz. we both thought the other day we'd tank for a while but i'm not so sure now. this market seems bullet proof and looking at earnings the past week from bby,gs,nke,orcl etc it doesn't look like earnings are tanking like i thought they would. the market doesn't seem to give 1 hoot about oil,gold or rates that are all rising. plus many of the high momentuem stocks i look at like rimm,aapl and goog are going wild to the upside.
 
Quote from Spooz Top:

no surprise on an expiry gap.....a close on the lo was a sign to hold shorts but when working a larger than usaual zone...15/20 handle zone ,one can digest a move as this rather easily......i`ve been rolling my range,as i call it & will continue to do so without having to be exactly right with a 6 tic hard stop.

nice job staying with that one B1......where would you place a hard stop on this trade that you would consider out of the noise?
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I agree, job well done.

But (:)), how much return have you made so far on your capital, which is around $75,000 per lot if I am not mistaken? If that is so, then so far on 50 point gain that would be near 2-3% Gross return before taxes (approximate). If that is done consistently and forms part of multi positions in other markets (as we know you hold), then this is excellent and annual return on capital is very impressive, but how many participants on this thread can do what you do (your large stops, underleverage, overnight positioning, no hard stops, etc.)?

If I had your money, then hell yeah I would consider your way, until that is the case, I need to continue bettering minimum DD skills.
 
Quote from john12:

don't know spooz. we both thought the other day we'd tank for a while but i'm not so sure now. this market seems bullet proof and looking at earnings the past week from bby,gs,nke,orcl etc it doesn't look like earnings are tanking like i thought they would. the market doesn't seem to give 1 hoot about oil,gold or rates that are all rising. plus many of the high momentuem stocks i look at like rimm,aapl and goog are going wild to the upside.
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i hear you john....this is a very unique time in history & feel we are very fortunate to be able to trade this environment...i`m a range trader & was looking for a new range to reestablish its self up here with downside potential being great.if we take out the swing hi with conviction ,so be it,i`ll be looking to reestablish above in a new range.i have a decent cost basis entry & was actually able to cover some yesterday @ 30.25 just in case of the obvious expiry bias but i was`nt going to post it as i never posted my entry......this is what i call rolling my range.i did`nt see enough evidence down there to cover completely yesterday.
when selling commences...they let nobody on the sell train...you just have had to be onb before hand for conservative entry.

good trading,weather just too damn nice here in nj/ny area to be behind the screen today.....orders are in both ways.....set it & forget it.....:)
 
Quote from jason586:

I'm learning this as I trade ETFs trying to prepare for the YM and ES. I've held on to some DXD way too long (since mid-August), and I held on too long the last two days in my intraday trading as well.
I had 9 positive intraday trades yesterday: +$331.87, +$1.80, +$70.33, +$136.83, +$289.09, +$30.94, +$65.35, +$98.24...and one negative - $841.91
then today +$77.60, +$51.82, +$11.59, +$116.59, +$81.63, +$67.43...and another huge negative trade -$690.94.....stupid.
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ya, i was doing that too.

i'd make 20 million positive trades and then wipe it all out with one huge negative one. argh!!! that's why synic, apex, and others on this thread (not to mention books) are always saying cut your losses short. this means (relatively) tight stops. getting out quick when you're wrong on direction, instead of waiting and hoping for your loser to turn into a winner. hard to do, cuz we all wanna be right, but cutting the losers short and focusing on the next trade works. i'm learning.

another thing that's hard about it is knowing exactly where to place the stop. some folks say to do a wider stop to allow for "noise", but if you're doing several in and outs in a day, tighter stops seem to work better. especially nice to see the posters post their entry, target, and stop, so you get an idea of what they're doing that works, instead of some vague notion, like "cut the losers short".
 
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