ES Journal Archive (2006 - 2008)

[Mins]

Have to be long right now for a retrace back to 1518. Clearly somebody stop got hit at 1509 to the LOD. Looking at volume on 1 min chart looks like a short term bottom.

Still bullish - can change anytime and will always approach entries from a low risk point of view.

Out 3 at 1510.50

 

[BoyBrutus]

Quote from wave:

040307

Do you think it didn't violate 1451 by coincidence or luck? If the public stopped using stops, a lot of quant systems would go awry including my own.

You can rest assure that a break of 1451 will likely ignite a nice temporary run up.

Interesting 1451 was the previous high on 032307 and 2 days later 040507 it did for a nice 18pt run over 2 days.

 

[avarus]

Quote from BoyBrutus:

Interesting 1451 was the previous high on 032307 and 2 days later 040507 it did for a nice 18pt run over 2 days.

I've seen traders who worship the trend and make nice coin and I've seen traders make just as much coin and say "Trend?, what's that?"

You've got the linear(Trend) and the non-linear(volatility range) Use them together or separate. Doesn't matter. Money in both.

 

[fearless9]

Quote from mbusch:

I've noticed this phenomenon many times, although never before heard the explanation (which makes perfect sense). Seems like most of the time when there's a heavily lopsided number of orders on one side of the DOM or the other, the market moves TOWARD the side with the most orders (which is counterintuitive unless you realize that there's manipulation involved).

It is a bit like putting the dogs in behind the sheep in order to bring them to you at the gate... yes I have watched it carefully

 

[fearless9]

The trick is to be the shepherd at the gate and not be a part of flock.

 

[Spooz Top]

Quote from smilingsynic:

Buy stop at 08.5--1-2-3 bottom

EDIT: Big bar= tighten stops to 12 and lock in gains.

EDIT: Move stop to 13.

EDIT: to 13.75

EDIT: Hit 15, which is resistance. Trail to 14.

EDIT: Out at 14. No positions, other than short bull straddle on ES (longer term).

nicely done SS........

 

[avarus]

That post that BoyBrutus posted was just just demonstrated. If you've been accumulating on the downswings, you flood the system with market orders on the breakouts.

 

[Spectre2007]

I need to see parabolic curve on the index to start using stops on longs.

The daily chart still shows a great deal of aprehension to get long. This bodes well for long term prospects.

 

[smilingsynic]

Quote from Spooz Top:

nicely done SS........

Thanks.

 

[mbusch]

Lovely trading day. After closing out my SPY 150 puts for a 20% gain, I bought SPY 155 calls at the equivalent of ESZ 1513, and they're already up 30%. Holding those overnight, hoping for a double.

First time I've ever tried daytrading options instead of futures. Reason I'm doing that is because I'm trading in my pension account and futures are not permitted in that account. I'm traveling until November 5th, but will resume daytrading futures after that.

I'll be aloft tomorrow so won't be able to check in here. Good trading and good weekend to all.