ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Quote from JSSPMK:
Anek, your findings, with all due respect, will be different to mine, as we would be using different conditions to define a divergence which offers favourable odds
J,
Ya I know you use divergences a great deal so no surprise to see your post.
Glad to hear they work for you.
Anek
Divergences on smaller charts should only be taken in the direction of the predominant trend, which is up. Countertrend divergences on smaller charts should be avoided. By smaller charts, I mean every chart less than a daily chart. Everyone may do as they wish of course, makinig certain to use proper money management and risk management. That is up to you.
No, it is BOTH: you are trading with the long-term trend, and trading against the short-term trend.
And that is a good strategy, imo.
Not necessarily so ImO, it depends on range's ability to offer more value than a couple of ticks, I frequently scalp FDAX for 10 or so points going against a predominant trend on long term charts, I couldn't do so trading ES.
But since this is a thread concerning ES I will agree with you
When the daily and weekly trends are up, and the intraday trend is down, it's most likely that a better trade will be made by buying the weakness of the intraday trend when you discern that a turn is in order.
That is the best way to intraday trend trade.
Trend trading, whether long term or intraday, is the best way to make the serious money.
That is the best way to intraday trend trade.
Trend trading, whether long term or intraday, is the best way to make the serious money.
Quote from Buy1Sell2:
When the daily and weekly trends are up, and the intraday trend is down, it's most likely that a better trade will be made by buying the weakness of the intraday trend when you discern that a turn is in order.
That is the best way to intraday trend trade.
Trend trading, whether long term or intraday, is the best way to make the serious money.
You will never short a top or buy a bottom being a trend trader. You will also be behind the curve when the trend changes because you are waiting for confirmation and miss the majority of the new trend. From a longer term time frame using your argument, one would never short the indices because the long term trend is up over the past 100 years.
Quote from Buy1Sell2:
I am hopeful that my demonstration here of adding positions as not being the proper method has not been lost. Notice how my additions to the original ES position have resulted in an average entry price that is 6 to 7 points higher than if I had put all 8 units on at once initially at 1537.75. Meanwhile I have my full NQ position on at 2026.75
There will be no more additions to the ES position, I will hold long here due to the fact that I have a large enough position on between the NQ and the ES. Holding long for now.
I believe there is better than even possibility of a fairly decent upmove today
But if you had been right from the start, you would have only had 25% of the position on from the start and would have had to chase price and add at higher levels.
Not at first, Your first position went against you 20 points.
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