ES Journal Archive (2006 - 2008)

Status
Not open for further replies.
If I may chime in O, point 2 of your Q to Buy1Sell2, he needs to accumulate in the region of 100 points profit on 20 lots to generate less than 15% return on margin that he uses, perhaps return is even less since he allocates more cash than 1 lot's worth. He doesn't daytrade, I am sure today's daytrade was just a bit of fun for him, as loss is just minute considering the above. He also mentioned that his entries are not very accurate, on more than 1 occasion he proved otherwise, but let's trust what the man says about himself. He is trading daily/weekly/monthly charts, that is a whole different mama to what you and I and other daytraders consider a tradable chart as we work off shorter term charts. He said he is willing to give away unrealised gains in light of achieving a clear cut breakout towards achieving his goal which is to obtain 100+ point per lot. And let's not forget why he has chosen Buy1Sell2 as his username :)
 
Quote from JSSPMK:

If I may chime in O, point 2 of your Q to Buy1Sell2, he needs to accumulate in the region of 100 points profit on 20 lots to generate less than 15% return on margin that he uses, perhaps return is even less since he allocates more cash than 1 lot's worth. He doesn't daytrade, I am sure today's daytrade was just a bit of fun for him, as loss is just minute considering the above. He also mentioned that his entries are not very accurate, on more than 1 occasion he proved otherwise, but let's trust what the man says about himself. He is trading daily/weekly/monthly charts, that is a whole different mama to what you and I and other daytraders consider a tradable chart as we work off shorter term charts. He said he is willing to give away unrealised gains in light of achieving a clear cut breakout towards achieving his goal which is to obtain 100+ point per lot.
More...

Following that logic JSSPMK, there has only been AT MOST 15 long trades and even fewer short trades since the beginning of the S&P!!! That is not trading, and is not worthy of the ongoing success of this journal.
 
Quote from osorico:

Following that logic JSSPMK, there has only been AT MOST 15 long trades and even fewer short trades since the beginning of the S&P!!! That is not trading, and is not worthy of the ongoing success of this journal.
More...

Well it all started with Buy1Sell2 trying out short term trading, then he decided not to daytrade, in the meantime there have been pages and pages written contributed by other members of ET. I think it's a fact that this journal is extremely popular, most likely due to a combined effort, not just Buy1Sell2's. He did mention that his style is more investing than trading. I am certain that people can work out for themselves who to pay attention to benefit their style of trading.

Whether his way is worthy is not upto you or I to decide, the majority readers/posters make that decision final :)

EDIT - ImO there have been a lot more than 15 opportunities since the start of the S&P :confused:

In the end of the day all he is trying to bring across to others is that he can make 1-2 trades a year and generate a good return whilst not having to be by the desk all day long Mon to Fri. He is a multi market participant.
 
Quote from JSSPMK:


Whether his way is worthy is not upto you or I to decide, the majority readers/posters make that decision final :)

EDIT - ImO there have been a lot more than 15 opportunities since the start of the S&P :confused:
More...

I totally agree. No confusion. :)
 
...posting a shot of the rising wedge on the daily that i mentioned....
... 3 up touch .... 2 down
..... as part of 5th wave of 5 .... sometimes considered as part of a bigger trend change.....
...... will have to wait and see
.... elliott wave term.... diagonal triangle type 1
..... last wave failed to reach .... then final up thrust had "throw over" of trendline
..... i had failed in my estimation of it before by beginning it from 18.75 .... correct beginning was 35.25
.... which was also the target on break down
 

Attachments

Quote from Buy1Sell2:

Looks like I am glad to have tuned out around 11:30 AM. As it turns out I am still holding those 4 contracts long at avg of 1554.00. No longer a daytrade I know, but I think I will hold them at least until the open tomorrow. The other long term positions--of course I am holding those. We would need to get below 1518.75 in a strong lasting fashion for me to get out of the longer term longs. :)
More...

You are the greatest trader I have ever encountered except for JimmyJam which might be greater than you.

DMartin
 
Quote from JSSPMK:

Whether his way is worthy is not up to you or I to decide, the majority readers/posters make that decision final :)
More...

Really? So you think I or DM can't make an objective evaluation of that trade?

I just read the expression "ironic observation" when you criticized Surf in his journal and you are defending B1S2 here.

Let me make my ironic observation (and completely objective too) of your criticism:

Surf went from +300 YM to - 100
B1S2 went from +50 ES to -3

When Surf let a hugely winning trade go negative I told him, "Nobody is that #$%$# trading real money". Now I stand corrected, and I mean no disrespect, of course.

Objectively speaking, that was prudent holding and bad, bad trading. And I don't care what kind of "he has a longer timeframe and waiting for confirmation that the trend turned" bullshit excuse we get... A bad trade is a bad trade.
Now if somebody can't handle the truth here, that is not my problem...
 
Quote from Pekelo:

Really? So you think I or DM can't make an objective evaluation of that trade?

I just read the expression "ironic observation" when you criticized Surf in his journal and you are defending B1S2 here.

Let me make my ironic observation (and completely objective too) of your criticism:

Surf went from +300 YM to - 100
B1S2 went from +50 ES to -3

When Surf let a hugely winning trade go negative I told him, "Nobody is that #$%$# trading real money". Now I stand corrected, and I mean no disrespect, of course.

Objectively speaking, that was prudent holding and bad, bad trading. And I don't care what kind of "he has a longer timeframe and waiting for confirmation that the trend turned" bullshit excuse we get... A bad trade is a bad trade.
Now if somebody can't handle the truth here, that is not my problem...
More...

P, did you see me object to point 1 from Osorico? no.

I made a statement on Surf's journal because most of his entries suck at the time when he states that technical analyses are pretty much meaningless. THAT's why I said what I did. I use TA and have better entries than he does, hence ironic.

If you do want my view on Buy1Sell2's yesterday trade then ImO it was a bad daytrade :)
 
The item to remember here is that I am a position trader and I use position sizing heavily in my trading. In addition, I am diversified across a number of markets for two reasons. 1, To not get hammered in one individual market--- 2. To gain access to more opportunities than one can monitor with daytrading. --Also keep in mind that I am closing in on 200 points unrealized gain in my NQ trade which is the bulk of my equity futures position right now. The ES position give back and unrealized loss yesterday are not a big number in relation to TLNW. (I never keep more than 20 percent opf TLNW in the trading account). That being said, I will tell you that right now, I have the largest equity futures position on of my career.

One further item-- I never put on a position in a daytrade that I cannot hold overnight. I always trade in the direction of the predminant longer term trend for that very reason. Also, thank you both J's for the defense. --All are welcome here--all opinions excluding personal attack and foul language are welcome here--
 
Quote from Buy1Sell2:

The item to remember here is that I am a position trader and I use position sizing heavily in my trading. In addition, I am diversified across a number of markets for two reasons. 1, To not get hammered in one individual market--- 2. To gain access to more opportunities than one can monitor with daytrading. --Also keep in mind that I am closing in on 200 points unrealized gain in my NQ trade which is the bulk of my equity futures position right now. The ES position give back and unrealized loss yesterday are not a big number in relation to TLNW. (I never keep more than 20 percent opf TLNW in the trading account). That being said, I will tell you that right now, I have the largest equity futures position on of my career.

One further item-- I never put on a position in a daytrade that I cannot hold overnight. I always trade in the direction of the predminant longer term trend for that very reason. Also, thank you both J's for the defense. --All are welcome here--all opinions excluding personal attack and foul language are welcome here--
More...





But by selling half and moving stop to break even, you would have on multiple times locked in realized profit and still got to participate if the rally continued. I understand the style but just not the management of letting a winner turn into a loser especially when it goes pretty deep in the money



:)
 
Status
Not open for further replies.
Back
Top