ES Journal Archive (2006 - 2008)

[Lawrence Chan]

PPT?

 

[wave]

We should see 1300 next week. Maybe we get another rogue trader drop the market 70pts over weekend.

 

[ammo]

Quote from Lawrence Chan:

PPT?

check the link i put in youngtraders journal last nit at about 10 oclock on the index speculators in all the ags and gold and oil,they have bought them and keep rolling them as an alternate to trading stocks

 

[wave]

1377 was 1st target on this short.

 

[wave]

05-20-08 02:18 PM

Nice call on 1441 sgc, you missed the high by 1 tick. They will try to take it to under 1377 first, then back to 1250, then 1200.

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Watch your shorts when we get under 1377. These boys play a clever chess game. They will scare you out of your shorts once under 1377.

 

[smilingsynic]

Quote from Buy1Sell2:

I've also posted several times before that if I make a daytrade . it's much smaller in size than a position trade. Most new/inexperienced traders make the mistake of putting larger size on for a daytrade. This is exactly backwards of what should be done. My positional long is from 1398.25 and my day/swing long was from 1410.75. The position trade is much larger than the shorter term trade. I've posted this several times in the journal, but has been forgotten. What I do is post honest actual trades here. That's why you see the losing trades that I report. I have no problem showing those to you. Good fortune to all!!

Obviously, daytrades are safer than position trades held overnight, because position trades carry overnight risk, whereas trades closed end of day do not.

 

[wave]

05-20-08 02:48 PM

goodluck with that!

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gwac, you wanna wager?

 

[wave]

And if you get long under 1377 and been paying attention, guess where they will run it back up to before dropping it again.

 

[vertigo3]

wave,
I'm sure I know the answer to this, but I just think it should be clarified.
in the quote below you say "They will try to take it under 1377 first, then back to 1250, then 1200."

Should that 1250 be 1450?

If not, could please elaboarate a little on your expectation for the price action.

Quote from wave:

05-20-08 02:18 PM

Nice call on 1441 sgc, you missed the high by 1 tick. They will try to take it to under 1377 first, then back to 1250, then 1200.

----------------------------------------------------------

Watch your shorts when we get under 1377. These boys play a clever chess game. They will scare you out of your shorts once under 1377.

 

[sgc]

Quote from wave:

And if you get long under 1377 and been paying attention, guess where they will run it back up to before dropping it again.

1400.00-1420.00?