ES Journal Archive (2006 - 2008)

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Quote from jagmot:

Great trade. I did see the RSI over 90 on the 60m. I would be happy with 8.5 points any day :)
Its always about scaling up in size once you have a profitable system that can get you 8.5 points a day.
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Thank you. I'd rather be working on position than day trading, much less stress and better results in the long run, but in the near future I'll be able to do that, from August I hope.
 
Quote from ammo:

when your order is sittting on a turn and you think you may not get 62.5, u cans ometimes make it a mrkt order and get the 62.5 fill,is that what u did renah?
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No, I slided the bid up in the DOM and it got hit.
 
daytrading will have better results in the longer run. just common sense will prove that because position trading has a LOT LESS opportunity compared to daytrading. Now in the long run it boils down to the skill of the trader, sure. but no way position trading "OFFERS" better results.

EDIT: stress is required to make money... :)




DOUBLE EDIT; say you had a position on and wanted to enhance the position trade. open a second account and "TRADE AGAINST" the position with daytrades when the counter days occur. financial mkts are "BACK & FILL" mkts so you will get plenty of opportunity.

Triple edit: BUT, NEVER do a counter trade to hedge a loser.
 
Quote from bighog:

daytrading will have better results in the longer run. just common sense will prove that because position trading has a LOT LESS opportunity compared to daytrading. Now in the long run it boils down to the skill of the trader, sure. but no way position trading "OFFERS" better results.

EDIT: stress is required to make money... :)
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Yes, daytrading can be more profitable but it also demands much more work, for example if I were working on position I would have gonne SHORT @ 1440 (the market gave me a clear signal to go SHORT then) and I would still have that position just waiting for the market to touch the 1290/1310 area or maybe I could have closed it @ 1340 (100 points is not bad for 10 lots) which would have been a good air-conditioned trade (no heat)... :D
 
i daytrade for a few reasons. one reason is because i do not like losing and we all have losers in trading. Another reason is because it is just plain crazy to try and figure where the players will take the mkts within a few weeks or months. The macro picture these days are controlled by "world" money flows, events, rates, gov's etc, etc. The "HUGE size of the hedgies and the country soverign funds etc have enough power to go up or down dozens of points. how can one trade stuff like that while being a small fish? The world of stocks or commodities was a lot easier when the USA as the world dominate economic power. those days are over and they are over big time. We adjust or we wither on the vine as traders.

Many say backtest. Backtest to what? What goldman did and now are doing the opposite. ..
 
1360 low to the high 1372 look where the 50% retrace stalled at 1366. then satch got his gift .. :cool:

the range, not from 1360 up to 1372.......... you get the idea


EDIT: Notice also before the 1360 low ...at 0940 low of 1362 from the high of 1372 , the retrace up from 1362 was up to 1367 ,....50% retrace and then went on down to 1357.50 new low.

Looks like the high of the day was from the opening , gotta love this stuff.

globex high prior to rth that is, those count for me
 
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