ES Journal Archive (2006 - 2008)

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Quote from OldTrader:

I'd say the market doesn't it lend itself right now to tight stops. A function of volatility.

OldTrader
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I guess I should probably say I shouldn't be so quick to move my stop above BE. Notice how the original stop level (89.50) was not touched until Fed announcement (I would have closed out before)
 
25 touched overnight - initial reaction to the drop completed.

If retest of the low zone of yesterday does not produce a bounce, then we go into crash mode. We have not seen the market in such dangerous price action since last August/September!

Good and safe trading to all! :)

p.s. still in swing trade mode until after early Oct.
 
Quote from nyxtrader:

I agree with this. Although I am glad to see this person not lose money. But the risk was what? 50% more than what he made? Not for sure on those numbers...don't make sense to me.
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That depends on the edge he's got.

If similar setups produce similar returns on 80% of the trades ... it is good enough for me.

Edit: Why 80% (as I already received emails asking)? I like keeping most of the $ generated. At 80% on a pay rate like that, I get to keep 60%+ of the money made.

The 1% up bounce bias, is a pretty well known statistics and that it is now a self fulfilling thing :)

Initial indication to exit the trade by time (end of day) shows that he is doing a stat trade.
 
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