ES Journal Archive (2006 - 2008)

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Quote from Buy1Sell2:

Out of all ES positions at 1530. Out of NQ at 2171.50. If it bounces, then it bounces. I will look for new longs.

I will only look long for the time being. Demonstration ES trade is now complete. Notice how with no criteria except for "trend is up" it was difficult to lose large sums of money. The initial trade was made at 1537.75 (with additions), and the trade was ended at 1530. This is why I believe in trading with the predominant trend only so as to give a better chance at profit. No profit was made in ES this time, in fact I had a loss, but the much larger NQ trade was a winner at rougky 145 points per contract. Full position in, Full position out is the way to trade and get maximum benefit. :)

Long Term Trend continues to be long in equities and I will seek entries in that direction only.
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I am aware of your trading philosophy all in--all out. However, not taking some profits off the table when the SPX was at resistance levels that had proved very difficult to surmount over the past few years and we were clearly overbought as shown by the McClellan Oscilator (note my post back on 10/7 when I said it was time to go short) is from my vantage point clearly a serious mistake.
 
Quote from Pekelo:

Hard to tell. At least getting a bit closer, maybe 4-5 points more...
P.S.: The lower BB is around 1511 cash....
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So far we got down to 1514 or so, and now bouncing. In the afternoon we might have a clear touch, but this is the time to get long, as Apex said. We are going to zigg-zagg between the BBs for the coming weeks...
 
nice one....
remember 18.75 ?

back then we had a diamond ... then a move like this..... then a move back up..... then another diamond.....

hmmmm......

Quote from Matt24SPFL:
Is this a reverse head n shoulders here!?
anyone?
Looking for long USDJPY now.. (~80% correlation to ES to USDJPY +)
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Quote from Buy1Sell2:

Demonstration ES trade is now complete. Notice how with no criteria except for "trend is up" it was difficult to lose large sums of money. The initial trade was made at 1537.75 (with additions), and the trade was ended at 1530.
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I don't want to repeat what Oso said, but you demonstrated exactly the opposite.

The trade was up 50 points at its highest and you managed not just give it back, but even losing 7 more points. Why? Because you DIDN'T realize the CHANGE in the trend.

That 50 ES was already yours, and you gave it up. You could say you were playing with the market's money, but it was still good money.

Now you got out of long, when most likely the trend is changing again. If we are right, you missed the market's trend TWICE....

P.S.: You also gave back 25% on the full NQ position, because you didn't realize the direction of the trend....
 
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