ES Journal Archive (2006 - 2008)

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Quote from apex82:

but markets dont go straight up or straight down 80% of the time...
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Correct. So when the market gives a gift to your position in the form of a French rogue trader, why not lock in the gains and reload at a better price? Specially when all signs show that the Feds will cut rates and it would be followed by at least a modest rally?

See, here are a few arguments B1S2 could use to answer my question:

1. When you have a 20-30 million bucks trading account a half million here or there doesn't really count. (could be true)

2. It is true that I gave back 700K, but look, I saved $400 on comission! (true, but silly)

3. I am just not very good at timing market turns. (most likely true)

etc.etc.etc.

See, there are plenty of good or not so good answers, I am just curious which one is it...

And for those people like ammo, who bitch about constructive criticism, if you can't take a few valid questions about your trading style, don't post them on an open forum....
 
It still could be a while (days, weeks) before this bounce resolves itself and we continue lower. I remain patient and short here. :)

The strongest place to have a stop is above 1540, but I will maintain my stop on the full position in the 1440's and will look to reenter short if we should get there. That will ensure that I will not have a losing trade except for the 2 contracts and will also allow me to get back in when/if the bounce resolves. In answer to other's questions about giving back profits. It's normal for the way I trade and it allows me to have a high quality of life. Picture the bathroom scene in New York in the movie Trading Places. That is what I aim to avoid. I am an outraday trader and make no bones about it. Good fortune to all!:)
 
watching 1385 carefully.. a break of this area will having me looking to short a retest of highs to put my longer term short position back on.
 
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