ES Journal Archive (2006 - 2008)

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Quote from Buy1Sell2:

In my view then,
a) should be let run for 2 points
b) should be let run for 4 plus points and
c) should be let run for 20 plus points

All using trailing stops
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So, if someone using scale out method that works pretty well, I think we can safely assume the entries are likely ones that has the quality of a composite signal :)
 
Quote from Lawrence Chan:

So, if someone using scale out method that works pretty well, I think we can safely assume the entries are likely ones that has the quality of a composite signal :)
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What you have described with the composite signal are 3 separate trades that do not get scaled out. What I am not in favor of is taking half a position off at 1 pt in the case of trade A when the target is 2 pts. Your example is not an example of scaling out, rather it is a description of 3 different setups/trades. Using your info by the way, one would be able to calculate which setup would be the optimal setup and then all contracts deployed could be used on that setup only over the long haul.
 
Quote from Buy1Sell2:

What you have described with the composite signal are 3 separate trades that do not get scaled out. What I am not in favor of is taking half a position off at 1 pt in the case of trade A when the target is 2 pts. Your example is not an example of scaling out, rather it is a description of 3 different setups/trades. Using your info by the way, one would be able to calculate which setup would be the optimal setup and then all contracts deployed could be used on that setup only over the long haul.
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For most traders, entries and exits are developed over a long period of time, thus it is very hard for them to think of their approaches in a 3rd person, objective point of view. So scaling out to them is just a term to describe how the trades are carried out.

Using scale out on a trade for many traders, is the way to become a profitable trader. However, as you pointed out, if the scale out is done out of necessities to feel good about the trade, scaling out would not help them in the long run.

Many who posted here with their live calls do scale out at various target zones, that to me is taking advantage of the probability at various profit targets, just like a composite signals. That will work over the long run, as the trades are done in a fashion similar to the a,b,c combination I was talking about.

For those who can only afford to trade a single lot, it is best to trade a single signal, or a group of signals that are of similar risk/reward profile. That way it is much easier to deal with in terms of trade management.
 
Quote from Buy1Sell2:

What you have described with the composite signal are 3 separate trades that do not get scaled out. What I am not in favor of is taking half a position off at 1 pt in the case of trade A when the target is 2 pts. Your example is not an example of scaling out, rather it is a description of 3 different setups/trades. Using your info by the way, one would be able to calculate which setup would be the optimal setup and then all contracts deployed could be used on that setup only over the long haul.
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FWIW - The only market I scale in / scale out is ES. Everything else its all in all out.
 
08-28-08 11:31 AM

08-28-08 08:33 AM

08-28-08 07:30 AM

08-28-08 07:20 AM

08-27-08 02:23 PM

08-27-08 12:46 PM

08-27-08 11:37 AM

08-27-08 08:30 AM

08-27-08 07:11 AM

08-26-08 01:09 PM

08-26-08 01:01 PM

Will get long with 20 @ 1267.75
Stopped in---Initial stop 1261.50
Back to normal trading today---Stop moved to 1254.00
Sell stop raised to 1261.00
Sell stop raised to 1263.00
Sell stop raised to 1270.25
Stop remains the same for overnight.
I will keep the sell stop the same this morning @1270.25
Sell stop raised to 1273.25
Sell stop raised to 1278.25
Sell stop raised to 1279.25
Sell stop raised to 1284.00
 
100 points from 1200, 200 more to go to 1500. Only swing trades on the short side. After 1500, major short position.

1552 is the target.
 
08-28-08 01:45 PM

08-28-08 11:31 AM

08-28-08 08:33 AM

08-28-08 07:30 AM

08-28-08 07:20 AM

08-27-08 02:23 PM

08-27-08 12:46 PM

08-27-08 11:37 AM

08-27-08 08:30 AM

08-27-08 07:11 AM

08-26-08 01:09 PM

08-26-08 01:01 PM

Will get long with 20 @ 1267.75
Stopped in---Initial stop 1261.50
Back to normal trading today---Stop moved to 1254.00
Sell stop raised to 1261.00
Sell stop raised to 1263.00
Sell stop raised to 1270.25
Stop remains the same for overnight.
I will keep the sell stop the same this morning @1270.25
Sell stop raised to 1273.25
Sell stop raised to 1278.25
Sell stop raised to 1279.25
Sell stop raised to 1284.00
Sell stop raised to 1286.00
 
Quote from wave:

Shorts could get nice short swing here a 1300, that should take it to 1275. 1275 should provide a rocket move to the upside.
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25 points? You took 25 points in heat on your last long trade from 1284.00. Why bother with the short side?

OldTrader
 
Quote from OldTrader:

25 points? You took 25 points in heat on your last long trade from 1284.00. Why bother with the short side?

OldTrader
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It's all objective. From nothing comes something. What one taketh away the other giveth. Net positive is all that matters.
 
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