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ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Quote from wave:
Quote from Spectre2007:
if its going up its going up, and if its going down its going down, if you can't figure out if its doing either, then play mean reversion.
Spectre2007,
I've found this the easiet and most profitable way to trade if one has the account and metal to support it.
I think all this leads to is chasing the market. Sometimes that works. Most of the time it doesn't.
OldTrader
Day trading with this philosophy can be very painful
Quote from wave:
Quote from Spectre2007:
if its going up its going up, and if its going down its going down, if you can't figure out if its doing either, then play mean reversion.
Spectre2007,
I've found this the easiet and most profitable way to trade if one has the account and metal to support it.
Quote from OldTrader:
For what it's worth, the ES is up against a downtrend line on the daily chart, coming from the May top. This is the line we reversed from on Monday up around 1314. Today I have the line around 1302-1303.
Todays 38% pivot is at 1303. I guess thats a good line in the sand + the Naz has no jewels left! We shall see.
buy the way! nice trade. yesterday and today.
Quote from Zodiac4u:
Quote from OldTrader:
For what it's worth, the ES is up against a downtrend line on the daily chart, coming from the May top. This is the line we reversed from on Monday up around 1314. Today I have the line around 1302-1303.
Todays 38% pivot is at 1303. I guess thats a good line in the sand + the Naz has no jewels left! We shall see.
buy the way! nice trade. yesterday and today.
Thank you.
If you don't mind, how did you arrive at the 38% pivot? What points is it taken from?
OldTrader
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