ES Journal Archive (2006 - 2008)

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Quote from fearless9:

Around 10:30 ( little before actually) the buyers started pounding the ask and chipped away the sellers advantage.

The sellers attacked again lightly around 10:46 and at 11:48 they attacked in force.

1340 held and so it was reasonable to assume a buy at this level with a 3 tic stop had a good chance of success.

regards
f9
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OK, sounds good to me. My only point was that there is no classicly defined chart support at 1340. Since I can't draw a picture, that would be where we had made a high for instance at 1340, retraced, then broke out above 1340. 1340 would then be considered support.

OldTrader

EDIT: Right now we are 3-1 on the downside on the A/D. That makes rallying a struggle, not that it can't happen.
 
Quote from OldTrader:

OK, sounds good to me. My only point was that there is no classicly defined chart support at 1340. Since I can't draw a picture, that would be where we had made a high for instance at 1340, retraced, then broke out above 1340. 1340 would then be considered support.

OldTrader

EDIT: Right now we are 3-1 on the downside on the A/D. That makes rallying a struggle, not that it can't happen.
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I agree Sir, 31.25 (thereabouts) is where I see the next line.

I dont follow the AD, but the brave little longs are still trying to hold their own against the shorts greater firepower.

regards
f9.
 
vertigo pointed out the last day before the roll,1st 4 hr vol highest in 20 days,sittting on my hands,just checked sep spu volume only 41,000 so thats not it
 
Quote from fearless9:

Dear boy, you are pure entertainment.

All this diatribe from an author who proudly claims never to have meet a successful daytrader.

regards
f9
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Well, the facts clearly show otherwise, however, I'll give you the benefit of the doubt and let you prove me wrong. Please, real trades with Pnl, because paper trading won't count. You can also start a journal right here and call it " Daytraders Rule" :p All I'm asking is 5 years. Not much is it?? Regards back to you.
 
from opening bar high of 1356.75 to the low of rth session so far. that was a roughly 16 handle swing..........it went back up to 1348.50 for a 50% retrace and that was it, short signal is still valid. went back down to 1340.25 and found support............the shorts did not bang it lower there so it ran back up to 1346.75 .......now around 1343.00.

Point being short signal is still valid but looks like waiting in a range until beige book makes up their minds for them. technicals have been golden lately in the mornings............i for one have always said i trade better in the mornings because the initial run is what all the fishermen have baited hooks for.


Lets see what beige book brings.
 
Some thoughts:

survivor bias
can markets be predicted (EMH weak strong)
90% of traders lose money
leverage
backtesting bunk?
stop placement
trading is gambling, does it matter?
timeframe/ daytrader, investor
money mgt, the holy grail?
capital
Technical analysis bunk?
PnL proofs or mine is bigger than yours

feel free to add.
 
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