ES Journal Archive (2006 - 2008)

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Depending upon the risk one can take and their account size, people have their own ways of trading. Do not assume your method is better than others just because you made couple of points and others lost some.

Everyone win some and loose some irrespective of their trading style.

Just enjoy the ride and make money :)
 
Quote from Buy1Sell2:

day trade
short 2 units (contracts) @1376.00
Initial stop 1387.50
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I feel like I am posting way too much, but I am waiting for the market to make up its mind.

B1S2,
You mentioned that you would try to incorporate some analysis or charts with your trades.
What made you go from "only looking long right now..." a couple hours ago to shorting?
 
Quote from opt789:

I feel like I am posting way too much, but I am waiting for the market to make up its mind.

B1S2,
You mentioned that you would try to incorporate some analysis or charts with your trades.
What made you go from "only looking long right now..." a couple hours ago to shorting?
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I didn't clarify. I am only looking long from a positional stance. This is a little ol' day trade.
 
Quote from opt789:

I am simply pointing out that if you are not a position trader your point of view is skewed. You seem to know what you are doing, care to elaborate on what an average trade is for you: stop size, target, time frame, etc?

I agree with J.J., there is no ONE answer to best trading style or time frame for every trader.
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.... If I give you twelve years of swear blood and tears, what are you offering in return.

.... Nobody disputes jj comments, least of all me.
However my comments regarding the efficiency of trading price waves is not to be confused with peoples abilities to trade them.
Some people are suited to this style of trading and some are not.
But I feel that it is important to understand them thoroughly before discarding them.

For what it is worth, I was a position trader for several years before I was drawn away from it in the never ending quest for greater efficiency.

regards
f9
 
Quote from fearless9:

I am understanding you correctly.

Buy ES jan 02 at 1487 now trading at 1377.

Buy and hold is underwater 440 tics (110 pts)

I thought that the whole idea was to make money

regards
f9
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My point was that if your position is wrong then even a well placed stop can be hazardous to your account. The panic spikes are what blow out alot of traders. I am talking mainly about futures which are margined. Buy 1 was saying that a 30 point stop on a swing trade makes sense. This makes sense but it doesn't mean the market won't hit your stop whenever it feels like it.
 
Quote from OldTrader:

You did say it was completely foreign to you. Unfortunately, you were responding in what seemed to be agreement with smilingsynic, who called the B1S2 strategy dumb. Perhaps that's the confusion.

OldTrader
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I read SS post as having two parts and I was responding to the first.

I have re read it again and I still see two parts.
The first being a question to which I responded, the second being a personal statement of the Posters.

regards
f9
 
Quote from tommymoose:

Long NQ 1967.00 stop 1964 target 1999 or EOD close... going to the driving range so I wont be able to watch this one.
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Back.... exiting here at 1980.50 on the 78.6 retrace

:edit: reasoning being that I see the action has been pretty linear, so I'm glad to take my profit here and look for a possible re-entry if the market wants to pull back. Some R at 1991 and some more at 1999-2006
 
Quote from vertigo3:

hey, tommymoose,
what kind of a retracement? what level would expect to see?1974? or deeper
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I'm not sure as of now since the intraday timeframe retracements are less predictable. I'm not even sure if the market WILL pull back, but if it does I'll be watching its structure on the way down. A bullish MACD divergence if price happens to coincide with a fib at the time, or if a measured AB=CD move shows up... something like that.

:edit: but yeah, I wouldn't expect deeper than 1974 if the market were to make new highs today.
 
Quote from OldTrader:

You did say it was completely foreign to you. Unfortunately, you were responding in what seemed to be agreement with smilingsynic, who called the B1S2 strategy dumb. Perhaps that's the confusion.

OldTrader
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I did not specifically call anyone's strategy "dumb".

My point was that all else being equal, daytrading entails less risk than position trading. Most daytraders would consider hanging it up if they lost 30 points a contract over 3 days (at least I would!). As for position trading, that is not that large of a loss, actually.

B1S2's strategy seems taylor-made for longer-term position trading, and I would bet that his greatest successes have been in this area. Nevertheless, I don't think he should be daytrading, as what works in longer-term trading does not work well intraday.
 
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