ES Journal Archive (2006 - 2008)

[candles]

Quote from candles:

1397 short - 3 point stop

Closing here at 1392 for another 5 handles profit!

 

[smilingsynic]

Another principle:

"12. On a trend day, the trend tends to become stronger as the trading day becomes longer. Therefore, on the afternoon of a trend day, the stubborn countertrend trader risks suffering significant losses."

 

[mbusch]

Quote from smilingsynic:

Another principle:

"12. On a trend day, the trend tends to become stronger as the trading day becomes longer. Therefore, on the afternoon of a trend day, the stubborn countertrend trader risks suffering significant losses."

Is that your principle #12? Any chance you'd post the whole list? Or if you've already done so, could you provide a link? Good stuff!

 

[Spooz Top]

heeaaavvvyyy to 85........

 

[JSSPMK]

Long 1390, stop near 1389, off possible 2 min divergence

scaled out +2.25

 

[Leonidas]

What is the rule of 10 exactly, and how are you guys applying it?

 

[smilingsynic]

Quote from mbusch:

Is that your principle #12? Any chance you'd post the whole list? Or if you've already done so, could you provide a link? Good stuff!

No, I have not posted it. I have posted a few here and there, but the real good ones I want to keep to myself!

Here's one more, and that's it (Lol)!:

"6. Losses are inevitable: they can either be large or small; and most large losses begin as small ones. Profits too are inevitable: they can either be large or small, and most large ones begin as small ones. But if you take profits when you can you will rarely get large profits; if you choose not to take a loss, you will often get large losses."

Sometimes it is a virtue to keep one's mouth shut.

ET is the trader's "give a penny, take a penny" jar. My two cents are here.

 

[JSSPMK]

Quote from smilingsynic:

Another principle:

"12. On a trend day, the trend tends to become stronger as the trading day becomes longer. Therefore, on the afternoon of a trend day, the stubborn countertrend trader risks suffering significant losses."

Although I agree with you on your first part, ImE/O stubborness is required to nail a bounce/reversal pattern & "significant losses" are dependent on quite a few variables

 

[Spectre2007]

notice the volatility drop off...

 

[smilingsynic]

Quote from JSSPMK:

Although I agree with you on your first part, ImE/O stubborness is required to nail a bounce/reversal pattern & "significant losses" are dependent on quite a few variables

The statement is a corollary to the first regarding gaps. If the attempt to fill the gap fails, it's going the other way.

If one wants to go against the trend, it is better to wait until after the close. A better price can often be had after hours.