ES Journal Archive (2006 - 2008)

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Quote from volente_00:

B1S2, I still await your reply.



:)
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It may be ok for some. I don't have interest in watching the computer all day. If I were to delve into the argument more, I would be inclined to say that the more trades made, the more commissions and the more probability of making dumb decisions become large factors. Position size is more important on any time frame than a stop due to the fact that you will be less afraid of each trade that you make and thus make fewer dumb decisions. I would prefer to ride a contract much farther on each commission etc giving me much more time to enjoy the time I have. :)
 
Quote from Buy1Sell2:

Trend remains down right now. :)
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You sound like Surf. You actually trade like him. But anyway, Nasdaq just doublebottomed with a nice RSI divergence on the daily. So I would say the surf is up....
 
Quote from storm121:

I think a lot of shorts got hit hard today.many of them blew their trading accts, never to return again.

bulls are in charge from here on out.looking for higher prices and better reports.

2 good stocks to buy now are YGE and JASO.

blackguard
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What the hell? One up day and suddenly happy days are here again?
 
Quote from Buy1Sell2:

It may be ok for some. I don't have interest in watching the computer all day. If I were to delve into the argument more, I would be inclined to say that the more trades made, the more commissions and the more probability of making dumb decisions become large factors. Position size is more important on any time frame than a stop due to the fact that you will be less afraid of each trade that you make and thus make fewer dumb decisions. I would prefer to ride a contract much farther on each commission etc giving me much more time to enjoy the time I have. :)
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Do you agree that given the opportunity, it is easier to make small profits and have a higher win rate with more size than it is to trade fewer contracts with huge stops and always go for homeruns all while having the same exact risk moneywise ?

If you are using a 100 point stop that represents 2% of tlnw, then in order for you to make 4% return you have to get a 200 point move ? So in theory in the chance you are right and patient enough to ride the move, you may get a 4% return for waiting all year. Seems like a waste of time when you can equal that return in a risk free cd and not have to look a a computer period.


:confused:
 
this video is over an hour long, what it demonstrates is deciphering tic price action, and lack of fear of loosing on trades, but ultimately to persist at breaking the price in your favor, todays example is not the ideal situation.

Traders thrive on volatility and there is a reason for it.

spotting inefficiencies in the price action is of utmost importance.
 
<a href='http://www.screencast.com/t/wguZgv5s'>AmplifiedTicIntentions</a>

microstructure price action...usually at key times during the day, the price has extended ranges..not like today.
 
Quote from MandelbrotSet:

Sounds good to me.

It's been a massive 2 week continuous drop in the financials since the start of the new year, and all of the money is chasing the Ags which are making limit up moves. While I'm purely a technical trader, I'd say a major portion of the downside is behind us for the Spooz and his bretheren, not ahead of us.

Short term, I'm definitely looking for a bounce, period.

Mid to longer term, I'd say bounce, another drop, though much less severe than the last one, then a major bull move that squeezes those who are still positioned short and refused to take their profits.

That's just a point of view, mind you. When it comes time trade, I'll take my signals (and right now they're bullish on the financials and bearsish on the notes).
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Is that all we get?

With the YM reversing back down as of today's close and the ZN turning back up, I think the respective Bear/Bull moves are on their last legs.

Both moves should pull in the late comers and set the stage for the much stronger reversal to the donwside (ZN)/upside (YM) respectively.
 
Quote from Buy1Sell2:

Short bias continues for a position trader like myself. Stop remains at 1517.00 but will be trailed down periodically. We need some more time most likely to absorb and resolve this bounce. Trend remains down right now. :)
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A close over Thursday's high of 1436.25 would signify a trend change and successful retest of 1385 bottom.

As for 1517, that looks like it could be a great place to SHORT, provided that it gets that far up in a reasonable amount of time.
 
Asia is not following through tonight so it's doubtful Europe will. These guys are pricing bad numbers for tomorrow and they are probably right.

Without knowing the numbers I would say chances of taking the neckline out are a good 90%...

We are definitely entering long term bear country.....
 
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