ES Journal Archive (2006 - 2008)

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Quote from TL Trader:

At one point you were down 138.50 ES points. Just so I'll understand, how is that materially different?
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Good point, but I do have an explanation, although offtopic here: :)

1. That is NOT real money. But as a "fund" manager, I was locking in my Christmas bonus....
2. That was also bad timing, admittedly. See? I don't sugarcoat, although it had something to do with a rouge French trader.
3. That journal's main goal is to outperform the market. (relative performance vs. absolute) So as long as it takes a dip with the market, it is still OK, because that is the natural position of the "fund", being long.
4. Here I will use B1S2's deffense: the best stop loss is not to overleverage! That DD was only 9% of account value. (and the fund was down only -5%)

So those were MY explanations, what are B1S2's? TL feel free to try to come up with some....

P.S.: Have you noticed that anytime when B1S2 posts an "I am still short" post with a smiley, he gives back 100K? On the main position (I forgot what his exact entry was, around 1470) he gave back like 60+% unrealized gains....
 
Quote from JSSPMK:

Monthly SPX, if this was an intraday chart, what would be our expectations? I looked at this chart's histo and if it was intraday p/a I would not be looking for a long.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1776071>
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imagine how you would have made out if you took into account the direction of the MA and where price was in relation to the MA...

:)
 
I think a lot of trading careers ended this past week.bulls took no prisoners on that run.

hopefully we will see a continuation of it next week and much higher prices in the future.

Im bullish long term and short term.

blackguard
 
Quote from storm121:

I think a lot of trading careers ended this past week.bulls took no prisoners on that run.

hopefully we will see a continuation of it next week and much higher prices in the future.

Im bullish long term and short term.

blackguard
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I don't think you're really grasping what the real traders on this site are about. We could care less what goes where, just as long as it goes. People who become irate usually do so because a number of foolish posts they've made proved incorrect. Is this your situation? You seem to delight in proclaming 1000's of careers ended on each and every rise. Here's a shock, if these little gyrations cause someone to quit trading, they probably weren't really trading anyway. I guess the point here is your " careers ended" posts are starting to lose their edge, lol. Give it a rest and call some real time trades or contribute something. Both chat rooms are open every day for just that purpose.
 
Quote from dmartin:

[ Are you waiting for the market to go down to 800, 700, 600, 500, 400, etc?

DMartin [/B]
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If you take into account his System of signals from monthly->weekly->daily. He may be looking for >800 on the S&P 500. Check out the last sell signal and the result if he kept with the trade from the top. Spectre's chart pretty much spells out what I would expect to happen if I was running B1S2's system.

JIM

Edit: JSSPM's chart
 
as for B1S2 trading style,not that its anyones business but his,he's a trader,all good traders hedge,i'm sure he's lifting and replacing hedges all over the charts..just not posting his whole position
 
I hate to say it.. but markets dont go straight up or straight down 80% of the time... B1S2 knows this so he has to sit through the bounces which is extremely difficult to do for most people. However, this is the only way to catch a massive winner. I can not do it very effectively thats why I scale out and reduce my risk once I am at a profit. This increases my win rate but will effect my avg win/avg loss. There is a toss up for both styles.. some are better suited for each. I always leave a piece to catch that big winner because nothing is more frustating then being right on the trade and missing the whole move. However, having these extra pieces is not a risk free trade like some seem to think when they move their stop to breaken. I have to get a large winner every once in awhile to offset the losses that occur when I am stopped out fully with this extra size. I also tend to enter positions at the top or bottom of the apex so I know if i am wrong right away.

This is why I am biased short at this point.. If you were buying here for a longer term play you would be stopped out about 75-80% of the time if your stop was placed below the 1250 lows... that means 20% of the time we could blow right through 1420 and retest the all time highs without a pullback. Definately a possibility, but which side do you want to be on?
 
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