ES Journal Archive (2006 - 2008)

[MandelbrotSet]

Quote from Leonidas:

Is that what you see? I see chop and non-directional trade. I met my goal selling off the open and I'm just a spectator at this point.

Watch for the open price (1364.50). Every time it gets down there it encounters a lot of buying. So, if anything there may be a bit of accumulation here at those levels.

I define all markets by being in modes of accumulation or distribution.

Once that mode has been defined (for me) I trade in its direction when price action gives me the confirmation to do so.
***
In my real trades I'll close the trade before my protective stop is hit, because price action will always give me the heads-up. But for the purpoeses of posting here, I'll just let the stop sit as is.

As has been previously stated, this medium isn't the best for calling trades, because a lof of us enter a trade in "scalp mode" and let'er rip if we get a run (this morning's downward action in the TY and NQ, then support comming in and give two good 4pt lifts in the ES, for example).

 

[Chuck Krug]

/sells ES 1367.25 stop 1369.75

 

[JSSPMK]

Quote from JSSPMK:

Short 1366.25 off poss 3rd failure swing & 10m, stop near 1367.5, hard stop +10

-1.5

Short 1367 off 5 & 10, stop near 1368.5, hard +10

Scaled out 2/3 +4.25

 

[vertigo3]

ammo,
I agree, not much of a bounce.
today complicated. It's a Monday in the unofficial summer.
Would still expect some sort of shake-out bfore something strnger than 1377 on the upside.

But all in all, LEH delivers bad news and overall market holding up well.

24hr 60min chart just looks like bear flag right now. first resistance 69.75-73.50

 

[Leonidas]

Quote from MandelbrotSet:

I define all markets by being in modes of accumulation or distribution.

Once that mode has been defined (for me) I trade in its direction when price action gives me the confirmation to do so.
***
In my real trades I'll close the trade before my protective stop is hit, because price action will always give me the heads-up. But for the purpoeses of posting here, I'll just let the stop sit as is.

As has been previously stated, this medium isn't the best for calling trades, because a lof of us enter a trade in "scalp mode" and let'er rip if we get a run (this morning's downward action in the TY and NQ, then support comming in and give two good 4pt lifts in the ES, for example).

Thanks for the color coding, I've never heard of this accumulation or distribution stuff.

What did you see that made you think the market was distributing? Maybe the time frame I'm looking at is different.

 

[Chuck Krug]

/b ZB 113'255 stop 113 205/32

 

[Chuck Krug]

Quote from Chuck Krug:

/sells ES 1367.25 stop 1369.75

/moves stop to b/e at 1362.25

 

[jagmot]

Quote from MandelbrotSet:

Only if that's what you want to do.

In which case smart-ass, your previous Long doesn't count, because it was called late, and f9's trade doesn't count, because it was a micro-scalp and you can't post those trades on a slow interent thread and take them at the same time.

Not to mention all of the none ES trades that people take ... oh yeah, those people don't post here anymore (jeez, I wonder why).

If we want to be exact then my sell on my long trade does not count. The long trade was posted in real time (both the original and add on). I also put the target in place in case it got hit overnight while I was asleep.

I'm not being a smart ass and not trying to get rid of anyone but would you be so kind as to when you make a paper trade to state that specifically then?

 

[JSSPMK]

C'MON!!!!!!!!!! YEAH!!!!!!! LOL

 

[OldTrader]

Quote from MandelbrotSet:

Only if that's what you want to do.

In which case smart-ass, your previous Long doesn't count, because it was called late, and f9's trade doesn't count, because it was a micro-scalp and you can't post those trades on a slow interent thread and take them at the same time.

Not to mention all of the none ES trades that people take ... oh yeah, those people don't post here anymore (jeez, I wonder why).

I think you're way off base with this post in terms of the trades jagmot has posted, and particularly off-base in calling him a "smart ass". I could have easily made the long trades he made.

There is a problem though with posting some of these scalps. And once in a while it's pretty difficult if you catch a trade just right to get your post up quickly enough.

But like jagmot, I thought the point was to post real trades, not paper trades.

OldTrader