ES Journal Archive (2006 - 2008)

[saliva]

Short 5150

target: 4925
stop: 5250

 

[Anekdoten]

Quote from Anekdoten:

I don't think we will see any real conviction between today and Friday morning, therefore shorting R and buying S sounds good to me until the time comes and we finally see which side the market will choose for next week.

Anek

...and the outcome of the week, not counting Friday of course.

 

[Buy1Sell2]

Quote from osorico:

Do I detect a whiff of skepticism?? Earlier (today) you were looking for ES 1600 at least, and now (same day) you are hinged to a report, "hopefully" allowing for a longer-term hold.

BTW; since you've shared a target price, care to share your "uncle" price? AFAIK, your position basis is 1544-45, with no stop. Where is uncle wrongway?

No skepticism whatsoever. I am certainly not hinged on any report--just making an observation concerning lackluster movement today. The hopefully part means that I hope I can hold a long while--no skepticism. As far as uncle, I would look at a move under 1518.75 as a place to reevaluate and determine if I should continue holding. Also, 1600 is not a target, but rather a place to reevaluate. No hard stops or hard targets in place.

 

[Buy1Sell2]

Quote from Spooz Top:

[B
B1....i too was also wondering about your uncle point "outside the noise" of course? [/B]

Yes. below 1518.75 as a reevaluation point. I believe we go up from here--

 

[mbusch]

Quote from Buy1Sell2:

Yes. below 1518.75 as a reevaluation point. I believe we go up from here--

Doing the math here, your "uncle" point is 35 points or $1750 per ES contract. I believe you have advocated risking no more than 4% of trading account capital on any one trade, which would require at least $43,750 of capital per contract. You've not mentioned how many contracts you're holding, but since you've added on at least three times one must assume it's at least four ES contracts, requiring $175,000 in capital behind this "demonstration trade." You've indicated that this little piddling ES trade is a small fraction of your "full position" in the NQ.

I'm impressed...and jealous.

 

[satchel]

Quote from satchel:
Much as I suspected from yesterday. Took it easy today. Barely touched '60. Not a full reversal, but still good. The pivots were banded close today, which meant on the look out for a break up/down but more likely stuck in range. Still waiting for full '50 (1st Support).
Swing trade day 2 short.

Day 3, not much to add. Again unusually tight bands today. Day 3 swing short.

Can you say distribution.

Day 4 swing short. More tight bands. Hitting the channel tops a bit, but still more of the same since the '60 So far 10 points off high with more signs of distribution. No broker fees at least trading this crappy range intraday for piecemeal points. '41 (2nd support)

 

[dmartin]

Quote from Buy1Sell2:

No skepticism whatsoever. I am certainly not hinged on any report--just making an observation concerning lackluster movement today. The hopefully part means that I hope I can hold a long while--no skepticism. As far as uncle, I would look at a move under 1518.75 as a place to reevaluate and determine if I should continue holding. Also, 1600 is not a target, but rather a place to reevaluate. No hard stops or hard targets in place.

You are so full of baloney I can’t stop laughing. Please, please don’t take this as a criticism—it’s just that you are so funny in the manner in which you trade.

Good Luck, DMartin

 

[princessa]

Quote from mbusch:


I'm impressed...and jealous.

don't be. if you're as good as you seem, you'll get to where you want to be. patience...and discipline...rule the day.

 

[princessa]

Quote from Anekdoten:

The confirmation is when the middle swing of the W bottom or the M top (white circle) is taken out by a closing bar.

Anek

thanks, a.

 

[Buy1Sell2]

Quote from dmartin:

You are so full of baloney I can’t stop laughing. Please, please don’t take this as a criticism—it’s just that you are so funny in the manner in which you trade.

Good Luck, DMartin

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