ES Journal Archive (2006 - 2008)

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Quote from GTS:

Hmmmm...seems a bit premature to change to a wide "overnight" stop with 1/2 hour to go in RTH.

To an outsider it looks like you decided to move the stop right before the market moved against the existing stop and took you out.

Edit: gwac, you beat me to it :D
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Well, you have nothing to gain by placing your stop right at the upper channel. I think it was wise of him to push it out of the way of obvious target.

BTW, the upper channel just hit at 1268.25.
 
Quote from saliva:

Well, you have nothing to gain by placing your stop right at the upper channel. I think it was wise of him to push it out of the way of obvious target.
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In that case the argument is that the stop should have never been placed there to begin with.

Moving a stop when its one point away from being hit has the appearance of poor discipline.
 
Quote from GTS:

In that case the argument is that the stop should have never been placed there to begin with.

Moving a stop when its one point away from being hit has the appearance of poor discipline.
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I'm often told that facts can change with new evidence. :)
 
Quote from gwac:

wow, not like you to do that, you usually take your lumps and move on..
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My initial stop calculation was well off the mark and I needed to get it where it should have been from the beginning. In addition, my entry was 12 points late due to a mistake on my part.
 
Quote from gwac:

wow, not like you to do that, you usually take your lumps and move on..
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No he doesn't. His lumps become Humps, all in the name of saving a few bucks in commission, in this case $100 max, and the prestige of posting the large win. Which btw, in many cases the large win is barely 1:1 because of the Hump. But when he nails it, he nails it and deserves all the kudos associated with minimzed cost and disciplined holding.

I mean really... if you still like the trade, take the 10-15 handle LUMP and reeneter. If you are correct, by the time you reach the original entry point you're ITM, NET commissions, instead just getting to b/e. Worse case, the original 40 handle stop (LOL) which is then only 25-30 handles away (LOL) gets hit and your loss is increased by the "extra" $100 in commissions.

Eh, who cares, whatever works, works.
Osorico
 
Quote from kinggyppo:

What is the effect of Tom Brady's injury on the stock market?:eek: :eek: :eek:
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Y and why on earth was it "breaking news" to them?

I guess b/c nowadays everything is breaking news...
 
Quote from gwac:

Did you hear about the UAL story today, a lot of people got screwed. Paper post 6 year old story, stock plunges to $3 and then rebounds back to 11 when the paper admitted its error.
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Imagine what money was lost because of this. More than just the UAL investors with stops. The ES moved to 1250.50 at the same time this story hit the wire. A drop of 13 points in seconds! Ridiculous how these markets are being manipulated.
 
Quote from saliva:

Here's an update of another useless info.
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I guess one more can't hurt. Needless to say, you need not be a simpleton to appreciate the K.I.S.S principle.
 

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