ES Journal Archive (2006 - 2008)

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Quote from JSSPMK:

Buy1Sell2, can you post a chart on where you entered on Gold please, I wonder whether you bought daily pennant breakout, I think a lot of technical traders have seen it as one of the best opportunities to go long at that time. Thanks.
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If I was on the sidelines, I would be looking to sell a breakdown as this bounce develops further. A sell stop below 1398. Sell stop overnight would have been below 1385 for entry short. Now it would be raised to 1398 as the reaction low. Long signals to be ignored for overnight traders. :)
 
Quote from Spectre2007:

basically if you realize prices in the short term can be taken anywhere how would you adjust your trading...
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Don't hold highly leveraged positions overnight :)
 
By the way, yes I see the potential for a further upward bounce based upon intraday etc. However it is countertrend , so I will hold short through the bounce. Stop is 1517.00. I can do this because I have correct position sizing. This is much more important than the actual stop order and guarantees that I will be less active. Too much activity is one of the main reasons that traders generally lose. :)
 
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