ES Journal Archive (2006 - 2008)

Status
Not open for further replies.
Quote from MandelbrotSet:

Order changed to GTC.

PS is obviously @ 1336.00 (current bottom, if hit holds).
More...

Whats that then 3 for 0 and 12 points underwater. Good job. :D
 
Quote from ammo:

very useful post
More...

Ya i agree i will end this childish behaviour - just this guy deserves a taste of his own medicine as he constantly belittles others.
 
he trades with those wide stops because he's got a second carreer that keeps him away from the screen,he's wrong a lot but he's right a lot too,like the rest of us ,he's just people
 
ammo, I think price has to come back and retest (within 3 tics) most recent swing low.

35.75 for a low swing on a retest would be encouraging.

right now believe price can still return to 1344-1347 area.

do you have any MP levels 36-35?
 
Anatomy of a false breakout: Price breaks out for everyone to see. No mystery there. You enter or were in at the breakout (maybe even a couple, few ticks before the BO in anticipation of the BO> cuts down your odds some). Once the breakout happens and you are a few ticks in profits what is your job?

Your job now that you are onboard is to determine if there will be followthrough or a fallback. Price action will be your ONLY clues, all else is guessing. If you get a fewticks profit and see price slowing down and even falling back you want to get out with a tick or two to cover commish. Thats your job, do not let a small win become a loser. scratch it if you must. You can jump back in.

trading breakouts requires solid discipline.

That last down breakout was a good example of no followthrough .
 
Quote from ammo:

very useful post,what do u think here bottom,more selling ,reversal?call it
More...

That's crazy - i would never call that. I have no need to pick the turns.

I would rather wait for the market to give me an opportunity to go with the direction. Price action, the tape and volume will dictate in which direction to go.

From being a counter-trader for awhile i realised it is far easier too simply get in on the middle or birth of a new trend.

However, if you want to pick turns and shorter term direction please feel free to do so - I'm sure a lot of people are really good at that - just not my style.
 
no, when i don't have mp #s i use tl's and there is 1 at 37,25 and 17,i'm watching trans with spus and uvol/dvol,uvol dvol chart is not a trend day but that could change, todays nip is 41-42,meed trans to break below 5090 for down move this afternoon
 
Quote from bighog:

Anatomy of a false breakout: Price breaks out for everyone to see. No mystery there. You enter or were in at the breakout (maybe even a couple, few ticks before the BO in anticipation of the BO> cuts down your odds some). Once the breakout happens and you are a few ticks in profits what is your job?

Your job now that you are onboard is to determine if there will be followthrough or a fallback. Price action will be your ONLY clues, all else is guessing. If you get a fewticks profit and see price slowing down and even falling back you want to get out with a tick or two to cover commish. Thats your job, do not let a small win become a loser. scratch it if you must. You can jump back in.

trading breakouts requires solid discipline.

That last down breakout was a good example of no followthrough .
More...

For what it's worth, I rarely will ever trade a breakout. If I'm not already in a position in the direction of that breakout, I just wait for a better opportunity. Of course, I'm not trading for tics either.

OldTrader
 
Status
Not open for further replies.
Back
Top