ES Journal Archive (2006 - 2008)

[smilingsynic]

Quote from Buy1Sell2:

Trading is very easy once you learn that the edge is in the management of risk.

Without positive expectancy, money management will only postpone the inevitable.

Risk management is essential, but there are many other essential items.

 

[kinggyppo]

Quote from kinggyppo:

out 134.15 still holding the other.

scratch on first trade.

 

[bighog]

FWIW, on an economic subject.............CRUDE this high is starting to bite. Inflation is real. It will pop its ugly head all at once as it has a history of doing. Do not think we are out of the woods yet. We migh just be entering the dark forest.

 

[Arnie]

Quote from Arnie:

Long NQ 1954.75
Stop 1552.25

Out 1962.50 +7.75

I normally like to trail a stop all the way, but ticks were spiking

 

[satchel]

Now 42 failed

 

[Arnie]

Quote from bighog:

FWIW, on an economic subject.............CRUDE this high is starting to bite. Inflation is real. It will pop its ugly head all at once as it has a history of doing. Do not think we are out of the woods yet. We migh just be entering the dark forest.

I think most people know this, so you have to think this is already priced in.

 

[Buy1Sell2]

Quote from smilingsynic:

Without positive expectancy, money management will only postpone the inevitable.

Risk management is essential, but there are many other essential items.

Money management helps to create positive expectancy. Proper entries sweeten the pot. A trader who buys 8 times in a row with a small loss each time and then allows the 9th trade, which is a winner to run fully, will most likely be profitable and have positive expectancy. This cannot be argued against. The problem comes in when you throw emotion in. Most traders want to be right more than 1 or 2 times out of 10. They would probably not take the 9th trade. However, that is generally the very time that they should be taking the trade. The only real edge in trading is risk management. Most traders do not focus on this, but rather look towards being correct. This is one of the reasons that so many fail with the number of failures in daytrading perhaps in the 98 to 99 percent range.

 

[jagmot]

Quote from jagmot:

Posting a longer term trade for the benefit of all.
Long ES (Sept) 1342, 2 contracts
Stop at 1319
First target 1369
Trailing stop assuming we hit the first target for possible retest of 1410
--------------------------------------------------------------------------------

Stop raised to 1330.
--------------------------------------------------------------------------------

Exit First target 1362.50.
Stop remains at 1330 for 1 contract
--------------------------------------------------------------------------------

Raising stop to 1343, slightly above breakeven. Still looking for 1400-1410 sometime this week.

Stopped out on this trade while I was still asleep. Flat for now, looking for entry long.

 

[Chuck Krug]

hi buy1sell2,

i read on another thread that you use rsi (among others)
do you think it is a better indicator than cci?
thanks

 

[Buy1Sell2]

Quote from Chuck Krug:

hi buy1sell2,

i read on another thread that you use rsi (among others)
do you think it is a better indicator than cci?
thanks

Yes. more reliable in my view.