whats happening ?
Why are we falling ?
You guys said a rally to 50 !!!
tried to warn ya
:eek:
Why are we falling ?
You guys said a rally to 50 !!!
tried to warn ya
:eek:
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ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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I don't think anyone is convinced this market is going to make new highs from this level, but thats not to say we can't try to play the smaller movements. The soonest place I'd like to get long for an intermediate-term trade is between 1290 and 1296.... preferably 1290-1292.
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Quote from kinggyppo:
The correct way to control positions is to only hold them once they prove to be correct. Let the market tell you your position is proven correct but never let the market tell you that your position is wrong. You as a good trader must always be in command of knowing and telling yourself when your position is bad.
Phantom of the Pits
Can't entirely agree with the phantom here.
The market will tell you if you are right AND if you are wrong. If you are not right, then you are wrong until the market proves you right. That is the essence of a time stop: if the market does not make adequate progress in one's favor after a certain amount of time, then the position must be reduced, and/or a hard stop moved closer.
Why? Because the market is telling you that the position is not right.
Putting out a long here at 1324.50. Tight stop looking for 10:1 RR. (Not filled yet)
Edit: Just got filled
Take a look at the 15 min chart and you can see 3 bar reversal (1pm EST) before one bar to clear out all the stops just below those bars. I think we head up from here. If I'm wrong I get a small stop out, but if I m right I get a 10:1 RR.
This next 15 min will be key on moving my stop (assuming it doesnt get taken out)
Edit: stopped out -2
Edit: Just got filled
Take a look at the 15 min chart and you can see 3 bar reversal (1pm EST) before one bar to clear out all the stops just below those bars. I think we head up from here. If I'm wrong I get a small stop out, but if I m right I get a 10:1 RR.
This next 15 min will be key on moving my stop (assuming it doesnt get taken out)
Edit: stopped out -2
What is the fascination with catching falling knives? The risk reward ratio is just not there until you get to 1320 and considering its Friday afternoon, the bounce from that level shouldn't be much to write home about.
Fellas, save your powder and look for an entry next week if going long.
Fellas, save your powder and look for an entry next week if going long.
Man blackgaurd is one bad dude. I don't want him jinxing me !
6 months later
Quote from islands111:
http://www.schindlertrading.com/index.php?page=performance
I wanted to congratulate fellow ET member and poster A Schindler for his perofrmance.
up 17.3% YTD.
btw, I dont know him or have any affilation w/him.
blackguard
6 months later
Quote from JayS:
He was stopped out of a short put position for a large loss the morning of MLK Day when Societe Generale was dumping their futures position.
The Schindler Fund is no longer being offered and they are no longer publishing results. He will be offering a new program in the future.
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