ES Journal Archive (2006 - 2008)

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Quote from mbusch:

You're looking for a low-risk long entry where? 1519-1520 ESZ would be my best guess here.
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Not buying the index's just yet... just arranging a portfolio of stocks all long. The crux resistant point is in the 1533-1538 area. Probability of a retest or new lows from that area. After that area is used up as resistance then I will be buying the index futures.

I havent been posting due to the amount of time it was taking and other endeavors. Just thought I would see how it was going in here and just throwing out my opinion.
 
Quote from Pekelo:

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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Pekelo you must consider that not all profitable systems are the same.

B1S2's requires late entry and late exit.

In the interim he makes more money that 98% of all traders, and does even when some of his trades turn into losers.

Unfortunately for guys just beginning or with small accounts, the system requires for stops to be placed well outside noise...in many cases what would mean too much risk on a percentage basis to most accounts. It also requires to be ready to give up large paper profits (where those balls I was referring to, come in really handy) in order to stay in and participate as a longer term trend unfolds to completion.

Few people in the world can do this. I am sure not even big money managers with decades of experience can do it.

As traders it is expected for us to have loses now and then. It's part of the business. :)
 
If you've traded copper, you will see what markets are capable of, if you took early gains, once in a lifetime trades never materialize. B1S2 is aiming for huge returns, and is willing to give up gains.

Study the daily charts, weekly charts, if you know the trend is up, what can shake you out if your positions, throughout the 90's would.
 
Spec......you taking your longs home over the weekend?

i feel we have more downside....even past the 18/20 support level.....not a TA observation but just feel we are heavy even here.
 
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