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ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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go to www.traderfeed.blogspot.com scroll down to may 22, 2 or 3 sentences in he has underlined , this summary of testimony , click on that and read that report, it,s an eye opener
I think you got the math right, although let's point out that 1 unit could mean more than 1 contract so $8700 or multiples of that.
B1S2 has been known not to be able to catch bottoms or tops, so here is an idea for staying with the trend:
Anytime when the daily chart crosses the SMA, that's the end of the trend! On Tuesday the SPX bounced from the SMA, but the next day it went through it, around 1410ish. So as long as it was below that, long term longs shouldn't have been taken. One could employ Surf's deathzone approach like this:
SMA is around 1410, so let's call a 2 points wide zone the zone of entry (death zone): So long term short below, long term long above. 1409 sell short, 1411 buy long. The market could fluctuate in that zone making a couple of 2 pts losses, but that would be still less than the 38 pts stop loss what B1S2 was using and eventually the market leaves that zone.
That strategy is good for entering with the trend, its only problem is that it doesn't give an exit point. But that could have been touching the Bollinger band which happened around 1378 (cash).
This death zone approach also can be used when trying the catch bottoms/tops, but then the line determining the zone should be the Bollinger band...
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