ES Journal Archive (2006 - 2008)

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Quote from doctoroe:

When you have that kind of day, may I suggest taking a break. Then come back and paper trade your system to regain confidence, or decide on a new system, one way or another.
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i have confidence in my system, perhaps a bit too much even, so i didn't take a loss. one of the problems is that i'm using a method where i have to hold overnight, and i'm not really comfortable holding futures overnight, so i used options instead.
 
Quote from jagmot:

Chuck,

You should set a daily loss limit and exit all positions if you hit that number. Perhaps you should have a target of 300 max drawdown?

Saxon's case is 15k max drawdown (or at least was before he changed his system)

In my particular case, 1k is my max cutoff for each day. If I hit that, I stop trading for the day and then trade the next day. So far I haven't had two days in a row like that but I think it is defintely possible. If and when it happens, I will be prepared and will stop trading for the week and see where I made mistakes.
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thanks for the advise. i'm evaluating right now
 
Trend continues long here. I am still holding the larger NQ long position and the smaller ES long position looking for bigger gains than this. :)

Increasing ES position 50 percent on a pullback to 1539.75
 
I have now added to Dec ES at 1539.75. Looking for upside movement over the near term. No target--No hard stop.

Current ES positions:

Long 1537.75
Long 1524.75
Long 1539.75


Current NQ position

Long Dec 2026.75
 
Good morning. Today has the makings of a tightly wound day. Rangebound. I have found that these days, due to the compressed nature of the pivots are either extremely boring

or

breaks occur and there is a large directional move, one that fights your bias. So park the bias at the door, long or short. Neutral.
 
Quote from satchel:

Good morning. Today has the makings of a tightly wound day. Rangebound. I have found that these days, due to the compressed nature of the pivots are either extremely boring

or

breaks occur and there is a large directional move, one that fights your bias. So park the bias at the door, long or short. Neutral.
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So it is either going to be a tight rangebound day or a day with a nice directional move.... ok :D
 
I don't use targets, but if I had to hazard a guess, I would say that we should challenge 1552 area today or tomorrow. I will still be looking for higher gains than that.
 
We are having the 2nd upgap in a row, and according to Pekelo's 2nd gap rule, this should close today. Also the next day play after an ADU calls for sideways consolidation.
 
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