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ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Quote from OldTrader:
So here's the $64 question I suppose: is it better to just take your position with a larger stop order? Or is it better to use smaller stops, risking that you would need to make multiple entries, yet protecting yourself against that larger possible loss?
OldTrader
What I find more frustrating is the market leaving you behind. ie You wanted to get short or long but the market moves before you get a position on.
Sometimes I can't find a good r:r entry, that is when I will scale in like I did with my short entry the last few days. In hindsight, the market would have gotten to 1296 where I wanted to get a full position short. Even if I don't get a full position on, I'm happy that at least I got part of the move.
For me, ES has more trouble getting to where I think good r:r is vs. other markets. It is probably just because it is a much deeper market, but that is just a guess.
Quote from jagmot:
What I find more frustrating is the market leaving you behind. ie You wanted to get short or long but the market moves before you get a position on.
Sometimes I can't find a good r:r entry, that is when I will scale in like I did with my short entry the last few days. In hindsight, the market would have gotten to 1296 where I wanted to get a full position short. Even if I don't get a full position on, I'm happy that at least I got part of the move.
For me, ES has more trouble getting to where I think good r:r is vs. other markets. It is probably just because it is a much deeper market, but that is just a guess.
I agree with you about the frustration of the market leaving you behind when you were waiting to get the position on.
Over the years I've left considerable money on the table (and I've seen other do it as well), by needing to get everything just so before I make the trade. For that reason, these days, I just make the trade even though it may not be perfection in terms of the set up I would like to see. And for that reason, I always use wider stops to give the position room to work.
OldTrader
Quote from jagmot:
Sometimes I can't find a good r:r entry,
Speaking of risk-reward, Im sure this will be heresy, LOL, but I rarely use it myself.
The only thing I look at personally is the market itself, and whether I think it's a buy or sell, and how much risk I think I would have to take in order to make the trade.
But when you stop to think about it, none of really no for certain where the market is going, or how much risk we're really taking. So the R:R ratio is really a bit of a misnomer.
I'd rather start off with a wide stop...see how it trades...and if it does something that I don't think jives with what I was expecting, just get out, sometimes with a profit, sometimes with a loss. Whether any of that made initial sense from a R:R point of view is really just alot of fancy guesswork on my part.
OldTrader
I'm itching like a dog with fleas. Heck life's too short to be mad and pessimistic party pooper. You all know as well as I do that we can buy the highs or sell the highs, just devise a system to operate around each method. Trade both if you want. Open mind. The shorts from 1284 and above covered at exactly 1284.
Tis jus short covering.
Tis jus short covering.
For those who keep missing their entries, just call "them" up and they would be more than happy to take price to where you want to be filled. Afterall, they need to take the otherside.
I took the time to read your posts yesterday OldTrader. I respect your take on the markets more than your attitude. We ain't all perfect I know. All the best.
I took the time to read your posts yesterday OldTrader. I respect your take on the markets more than your attitude. We ain't all perfect I know. All the best.
Quote from OldTrader:
I agree with you about the frustration of the market leaving you behind when you were waiting to get the position on.
Over the years I've left considerable money on the table (and I've seen other do it as well), by needing to get everything just so before I make the trade. For that reason, these days, I just make the trade even though it may not be perfection in terms of the set up I would like to see. And for that reason, I always use wider stops to give the position room to work.
OldTrader
i like the quote "just make the trade, then manage it".
getting too picky over entry has cost me a fortune over the years.
Quote from wave:
For those who keep missing their entries, just call "them" up and they would be more than happy to take price to where you want to be filled. Afterall, they need to take the otherside.
I took the time to read your posts yesterday OldTrader. I respect your take on the markets more than your attitude. We ain't all perfect I know. All the best.
I definitely know we're not all perfect...especially me. LOL. I respect your market take as well, believe it or not. I just didn't like the way you handled that last long trade especially, I thought you could have either mentioned a stop, or mentioned you were hanging in there, or whatever.
That said, my people skills sometimes are lacking...I understand that. But I'm glad to see I didn't run you off permanently. Glad to see you're back.
OldTrader
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