ES Journal Archive (2006 - 2008)

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Quote from tommymoose:

I like this zone... looking to get long on a retrace to 1342-1342.50
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Long 43... stop 41.25... target 1349 or HOD

I see what your saying to bvam... i'd be willing to re-enter if stopped out and market bounced at 1340

stop raised to 1342... not liking the divergence on the 1... looking to take profits at the next push up

MIT orders at 44.50 and 42....

stopped out
 
still too slow for me. rimm was slipping down nicely but its now to blast the oppostite. it didn't when i wasn't in it, lol.

oh well.
 
Quote from Chuck Krug:

smilingsynic> how do you incorporate stoplosses into the taylor trading technique?
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Stops should be placed enough from support and resistance so as to avoid getting stopped out needlessly because of noise.

Although I consider this a swing trading method that ideally should be held at least 2 days, I'll bail if the intraday market action suggests better prices.

For instance, if the market is "oversold" on a 2-3 day basis, I'll buy a lower 9:30 open. If that open does not appear that it will hold, then bail.

I did not buy the lower open today because the market did not close weakly yesterday.

"Oversold" market + weak close + lower open next day = long-bias.
"Overbought" market+ strong close + higher open next day = short-bias

I don't think stop placement with Taylor can be automated. Rather, it is more art than science, and it comes from studying price action over many years.

Most traders give up long before then.
 
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