ES Journal Archive (2006 - 2008)

[fearless9]

Quote from bighog:

fearless, so i understand you in the future. points are not used in ES, handles and a tick of a handle. Are we on the same page?

I only think and talk in tics since this is the manner in which the ES moves.

I broke ranks and mentioned points to B1S2 as this is his language and his thread.
It is a respect thingy really

Normally my mind and lips cannot produce handles and points, only tics

regards
f9

 

[bighog]

this is why you take profits when given and work the retraces when you have not received a reversal signal. KISS rules

F9, understood, thks


Lehman, Erin callan falls, another hit to the ladies. Women will be in trading a lot in the near future. beats the glass ceiling.

 

[Buy1Sell2]

Quote from Buy1Sell2:

For the moment, the upside rules here. Longs are more likely to be a better bet from a daytrading perspective. --at least right now anyway.

I cannot lay claim to any trades today.

 

[fearless9]

Quote from bighog:

this is why you take profits when given and work the retraces when you have not received a reversal signal. KISS rules

F9, understood, thks

The way I see things BH is that a tic is a sacred little beast and I will trade him off an s&r line to hopefully the other side of the channel. Naturally this does'nt always come off and the slightest sign of trouble and I am flat.

Since even entry level comms are a small part of a tic and professional comms are even less, , I am ruthless at protecting my daily bag of net tics.

What is a retrace to some people is a decent trade to me and it is amazing how tics can mount up over a couple of hours.

regards
f9

 

[Buy1Sell2]

Quote from Buy1Sell2:

Prediction:

JSSMPK is watching the 240 chart closely for upside divergence.

Well--were you? ---Are you?

 

[JSSPMK]

Quote from Buy1Sell2:

Well--were you? ---Are you?

Sorry, I missed that post. I am trying to catch Gold's potential upside bounce, not really on ES at the moment.

 

[JSSPMK]

Buy1Sell2, but sinse you asked, I would say No, because I don't like MACD on daily chart, it doesn't look bullish to me

 

[JSSPMK]

Short 1351.5 off 3 & <, stop near 1353.25, hard stop +10, 50% size

Scaled out 1/2 +2.5

 

[Buy1Sell2]

Quote from JSSPMK:

Buy1Sell2, but sinse you asked, I would say No, because I don't like MACD on daily chart, it doesn't look bullish to me

I was just trying to guess what you would be looking at and you like that 240. I'm surprised--

 

[bighog]

f9

Sounds good. From level to level is where the money is at. Many 50% retraces after a decent "run" is tradable regardless where you grabbed the profits on the runup or rundown. After i take the profits from a "run" the next thing i look for is how deep will the retrace take us or will the previous "run" continue on without me.

I do not chase stuff for the simple reason that if i chase i am more likely than not to get in JUST BEFORE the retrace sets in and get STOPPED out. Chasing is a bad habit because it gets one in just as price loses steam more aften than not and you get the afforementioned retrace.

IMO many new traders do not understand that retraces are NORMAL and they want to reverse the trade just before the previous "RUN" continues on. It takes time for new traders to understand the character of what they trade.

NOT AS RELIABLE as the retrace of a good run on the 5 minute chart but all 3 of the trends have retraces that can be looked at. Yes, i view an intraday chart with 5 minute bars the same as a daily, weekly, monthly chart. A "RUN" is a major trend that also had intermediate, minor trends. I mostly do not trade the small retraces because for one thing i try not to yank small profits.