ES Journal Archive (2006 - 2008)
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None of my charts show a weeks worth of data holding in one direction do they?Quote from JSSPMK:
That is all fair enough, getting on board a trend for the purpose of holding a position for weeks is another matter, you will have to either strip your position size to widen stops or keep them same as if you were trading full position & be ready to get stopped out quite a few times and on top of it all be ready to give back profits that can take quite a few weeks to accumulate, not my cup of cha. But hey, what the hell, good luck with that one
They show charts where positions (hence the word, position trading) are held for anywhere from 2 to 5 days to catch the bulk of the move in the direction of the trend for the period of time in which you are trading.
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But since you decided to go there:
Your argument (despite the fact that I never mentioned holding for weeks on end) regarding trading on a longer time-frame (weeks, to be exact) is actually quite spurious and shows, well, a certain lack of knowledge and sophistication on your part in regards to trading.
This intra-day scalping "catch the latest wiggle" in the E-minis isn't the only type of trading (though it is quite lucrative when you get the hang of it
) that people can do.Historically, many traders have held positions for months and even years if the trend which they determined according to the fractal (very important word, that one) they observed gave them a signal to do so.
Examples:
1. Currencies are dependent on a country's global monetary policies and can trend for years in the same direction.
2. Financials depend on a countries' policy towards its big business, populace and taxes. When the climate is right, it will grow like wildfire and continue to move in the same direction for years at a time.
3. The metals, Gold, and energies, Oil are affect by still other criteria which includes supply/demand and political unrest ... once again a trend is established and (obviously) can (and does) go on for years.
4. Total Supply/Demand game for Ag, with similar results.
Etc.
Don't make me post charts ...
Good trading in '08,
I
The bars themsleves are black and white.
The color band you see represents the up and down movement of price action on whatever volume, range or time fractal price is being observed.
The larger the fractal, the most consistent (and persistent) - for reasons stated in the previous post - the move in the direction of the trend established.
Good trading in '08,
I
we are winding up on the weekly & daily charts & at the lower TL`s.....right into the apex of a big move formation.......looking for anotherr move of phony strength up to the 1500 zone or slightly above before that fat lady sings & crushes the bulls......the only problem is that ET`s biggest fade eddie mush/blackguard is long & you know what that means.......you can rip up your tickets before the race is over but let`s wait & see if the pretty pic can be painted before new years on lo vol.
long from 80.25 & 75.25.....outs are just tics under 70......
long from 80.25 & 75.25.....outs are just tics under 70......
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