ES Journal Archive (2006 - 2008)

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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.
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I did want to say that your call for a short at the 1299 area yesterday was very good and if it wasn't for the wine early in the day I found myself questioning my judgement and did not take it. however were you influenced Buy the fact we had these generally bearish reports waiting for us this morning and if you were than I would agree it was a very probable trade. Good call!
 
Quote from tommymoose:

I'd definitely like to see some analysis again, even if its just nightly :)
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pretty soon,my friend..........btw,you`re doing some nice anaysis yourself ,TM.
 
http://www.elitetrader.com/vb/showthread.php?s=&postid=2045507#post2045507

going to scuttle this trade for a break even 2 points

reasoning for my entry was blackguards rule of 12, not any signal off my main system.it wil be a while before that happens.

basically this is a daytrade nothing else.

btw I invented blackguards rule of 12 in this Journal.It is property of Blackguard Trading LLC.You guys can use it,but cant sell it or distribute it for personal gain.
 
Here is a chart of spy. The green line on the bottom was drawn in this morning, can a new trader tell me why it is here?
Blackguard thanks for letting us use the rule of 12.:)
 

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The gap is filled when the price closes at or below this line.

Quote from kinggyppo:

Here is a chart of spy. The green line on the bottom was drawn in this morning, can a new trader tell me why it is here?
Blackguard thanks for letting us use the rule of 12.:)
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Quote from OldTrader:

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
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I use r:r on trades that have lower win %'s. I keep stats on new systems until they have either proven themselves (whether good or bad) or they have made enough profits that the setup won't ever give back all the profits.

r:r can definitly be misused as a crutch to get in a trade. (ie. The person is going to close out the trade at a profit before a trade is hit) I will admit I have been guilty of this in the early stages.
 
Quote from jagmot:

I'm now starting to build a short position in the ES.

Looking for an avg price short at about 1296 if we can get there.

1 contract short at 1284.50
Stop 1315 (for all contracts)

More sells at 1288, 1292, 1296, 1302, 1305, and 1308.

Targets are at 1200
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Quick update on this trade.
I've pulled the remaining sells at 1302, 1305, and 1308 and am short 4 contracts at an avg price of 1290.125.
Stop at 1315
Targets are 1264, 1247, 1226, and 1204.
 
Quote from jagmot:

Quick update on this trade.
I've pulled the remaining sells at 1302, 1305, and 1308 and am short 4 contracts at an avg price of 1290.125.
Stop at 1315
Targets are 1264, 1247, 1226, and 1204.
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Aside from R:R, 1315-1318 is a key selling zone if it gets there the 1st time within a week. There it drops to about the current level 1304-1308 in about 10 days.
 
Quote from Lawrence Chan:

The gap we get today will be filled by early Oct., if not much earlier :)
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really?can I ask why?

Im still waiting for the gap from late Oct 1998 to get filled.
 
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