ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Painting the tape green this afternoon means positive press in the newspapers and TV news shows over the weekend and helps induce more buying Monday.
That which was accumulated when the S&P futures were under 1300 will be distributed over 1400.
As for me, sub-par end to a great week. Have a nice weekend, guys.
Quote from Buy1Sell2:
Making a daytrade of 2 contracts here as a fun trade here so that I can communicate some more immediate results to everyone. This is a real trade. I have shorted two contracts at 1404.00 Stop is at 1417.50
Still holding longer term short here as well as the 2 contracts short from just above 1400
I think the low was around 1260, so you gave back about 140 points, pretty much like 98% of the unbooked profits. And I don't even want to multiply it with 100 on the main position, because that would be 700K...
Pekelo
01-15-08 02:19 PM
Long 1394... No SL.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=113413
At one point you were down 138.50 ES points. Just so I'll understand, how is that materially different?
you know its funny.this morning every1 was saying negative things about this market.
example, this post by gwac:http://www.elitetrader.com/vb/showthread.php?s=&threadid=64965&perpage=6&pagenumber=4964
I can pull up hundreds of other posts saying we will go down and close negative today.Not one bullish post.Not one.
except for me.
so, I've come to the conclusion there is more upside in the cards.I love trading against the masses.
blackguard
example, this post by gwac:http://www.elitetrader.com/vb/showthread.php?s=&threadid=64965&perpage=6&pagenumber=4964
I can pull up hundreds of other posts saying we will go down and close negative today.Not one bullish post.Not one.
except for me.
so, I've come to the conclusion there is more upside in the cards.I love trading against the masses.
blackguard
He's got a point Buy1Sell2. You give back so much profit in hope's of the ultimate homerun--whatever that is. 1260 was a great support level and why you didn't take at least some profit is noteworthy to say the least. Are you waiting for the market to go down to 800, 700, 600, 500, 400, etc?
DMartin
I think if his stop is 100 pts (2% of his TLNW or total capital allocated to trading) then it makes sense to assume that he is gunning for at least 6% return, my expectations from an intraday perspective are similar in terms of r:r. What is difficult for us (the ones that scale out) to understand is why does he not at least take partial profits. At the moment he is clearly looking at the monthly chart and expects more downside. It may happen, it may not. I see posts of people giving away gains of scaled out trades that were up by a ratio of 2:1, he does exactly the same thing but without scaling out.
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