ES Journal Archive (2006 - 2008)

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Here is an update of my position trade that is also on:

Current position:

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Quote from Buy1Sell2:

long 1395.00

Initial stop 1387.00

unit size 2
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Stop moved to 1392.50
Stop moved to 1394.00
Stop moved to 1394.75
Stop moved to 1404.00
 
I'm sure that everyone can see the 60 minute bearish divergence and the possible roll over of the chart. I will disregard and just let myself get stopped out.
 
I don't know where it is but somewhere between 5/14/ and 5/16 on the thread B1S2 makes a statement that he expected to see 1430 in the ES.

A few people were astonished at the comment, and I personally didn't see it going any higher than 1420's ... but here we are!

Just trying to be fair. :D
 
Quote from Buy1Sell2:

I'm sure that everyone can see the 60 minute bearish divergence and the possible roll over of the chart. I will disregard and just let myself get stopped out.
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Just trying to understand. For the record, I like your trades and discipline. However if you really think we could get a rollover and noting we are in a significant resistance area, why would you just allow yourself to get stopped out for 9 points when you could get +30 right here right now? Or at the very least raise your stop to the 1415 level or something. I understand the swing trade and letting the market work for you, but it would seem plausible to protect gains a bit more no? All asked in respect, just a simple question. Thanks.
 
Quote from riskymove:

Just trying to understand. For the record, I like your trades and discipline. However if you really think we could get a rollover and noting we are in a significant resistance area, why would you just allow yourself to get stopped out for 9 points when you could get +30 right here right now? Or at the very least raise your stop to the 1415 level or something. I understand the swing trade and letting the market work for you, but it would seem plausible to protect gains a bit more no? All asked in respect, just a simple question. Thanks.
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I tend to defer to a stop out as opposed to taking a short signal when in an uptrend and vice versa. Short signals in uptrends have a greater propensity to be wrong. In addition, manual trade entries by retail traders including myself have a good chance of being bad, so I defer to the stop out to keep my trades to a minimum. Less activity equals less decisions equals less chance to be wrong equals more profitability.
 
Quote from MandelbrotSet:

I don't know where it is but somewhere between 5/14/ and 5/16 on the thread B1S2 makes a statement that he expected to see 1430 in the ES.

A few people were astonished at the comment, and I personally didn't see it going any higher than 1420's ... but here we are!

Just trying to be fair. :D
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And it just happened to be on a 10 point move from 19.5

:)
 
Quote from volente_00:

And it just happened to be on a 10 point move from 19.5

:)
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I could see measuring your 10 points from 1414.50, perhaps 1418.00, but why 1419.50? That looks like the least likely spot to measure from.

OldTrader
 
Quote from OldTrader:

I could see measuring your 10 from 1414.50, perhaps 1418.00, but why 1419.50? That looks like the least likely spot to measure from.

OldTrader
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Quote from callmate:

If market is trending up wait for it to move 10 points over the :)PREVOIUS HIGH :) to short
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To be as simple as I can be, You simply exercise patience and wait for a 10 point move from a previous reaction high or low to materialize. It does not have to be from that day or night, it can even be the high or low from a week ago,
 
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