ES Journal Archive (2006 - 2008)

Status
Not open for further replies.
Quote from JimmyJam:


My trading philosophy is firmly based around the ideas of Dr. Alexander Elder and his Triple Screen Trading system, another man who has created substantial wealth for himself by simply following the path of least resistance that the market creates for him.
More...

How does anyone KNOW for sure how Elder made/makes his money?

After all, he IS a vendor, and some vendors make their livings teaching others how to trade, not by trading themselves.

Nothing personal against Elder (I have one of his books in my library)
 
I was offline all day yesterday (traveling) and I'm unable to trade today (traveling again), but I did want to point out that over the past two weeks I have posted a succession of "big picture" charts on this thread showing a projected high of 1585.25 for this move up from the fed discount rate cut.

I see that yesterday we reached an ultimate high of 1586.25, and then immediately fell off a cliff by nearly 30 points. I just wanted to apologize for being 4 ticks off in my projection. :) :) :)

Good trading!
 
Quote from smilingsynic:

How does anyone KNOW for sure how Elder made/makes his money?

After all, he IS a vendor, and some vendors make their livings teaching others how to trade, not by trading themselves.

Nothing personal against Elder (I have one of his books in my library)
More...
I have it on good source that he made his money trading.

Once you get it trading is a great occupation, but if you are even remotely sociable, like the company of people and like meeting new people, it isn't necessarily what you want to spend all of your days doing.

Good trading,

JJ

P.S. Water bucket is full for today, but those Longs are still work'in, aren't they? :)
 
Quote from Mins:

short 1571.50 no stop

1134AM EST

blackguard
More...

Im with you on this one, still it might get to 75 before any turning point. Im seeing this as a low risk short. I will have tight stop (don't mind getting stopped out and getting back in at a better price) and scale out as it goes in my favour. [/B][/QUOTE]

Has to wait for that one but it was inevitable breakdown. Inverse head and shoulders on 1 min chart.

Added 3 more shorts and closed them out a little early.
Still holding the other 3 short.

Out 2 more at 68.25 - 68 being my original target. Nice low risk trade imo. Still holding 1 more short.
 

Attachments

Quote from storm121:

http://www.elitetrader.com/vb/showthread.php?s=&postid=1639458#post1639458

covered 1568.5 +3 points

117 PM EST

blackguard
More...

Good stuff storm - any ideas on future direction.

Im thinking we might see some consolidation here but im sure a lot of people are expecting some more downside after yesterday evening action.

Even though im 1 still short and don't know where we are going from here. Target is 65 for the last unit short.

Out last unit at 69.50.
 
Status
Not open for further replies.
Back
Top