ES Journal Archive (2006 - 2008)

[Gul]

Hi Pekelo,
who is Memo???

Thanks

Quote from Pekelo:

Memo said SLIGHTLY bullish, not a giant rally.

 

[Pekelo]

Memo is the morning briefing I get everyday before the open. You guys don't get it?

 

[Gul]

No mate but from any website please let me know.

I have seee posts here on this Memo matter no idea.

Thanks

Gul

Quote from Pekelo:

Memo is the morning briefing I get every day before the open. You guys don't get it?

 

[Pekelo]

Quote from detective:

I would watch for a selloff into the close as traders will be reluctant to hold long over the weekend as the retail numbers come in on Monday....

Trading against the Memo is generally considered to be rude, not to mention unprofitable....

SPX closed up 8.5 points, I guess that was as close to slightly bullish as it can be. Have a nice weekend everyone, I have to go and knock over a few workers at Walmart!

 

[rock34748]

Quote from Gul:

No mate but from any website please let me know.

I have seee posts here on this Memo matter no idea.

Don't we wish. I'm afraid hard work and research will have to do. The elusive Memo is hard to get... then again with hard work, research...

Great insight as usual Pek.

Enjoy your weekend all.

 

[Gul]

Ok no problem no worries.

Have a good weekend all you guys.

Gul

Quote from rock34748:

Don't we wish. I'm afraid hard work and research will have to do. The elusive Memo is hard to get... then again with hard work, research...

Great insight as usual Pek.

Enjoy your weekend all.

 

[saliva]

Quote from Pekelo:

Trading against the Memo is generally considered to be rude, not to mention unprofitable....

Well, did your Memo also tell ya that the market in general has a lazy tendency to shoot up on any holiday-shortened week? So what your oracle has to say about next Monday is more telling once we get back into full swing of things. I dunno about being rude, but my short got triggered at 95.

 

[Pekelo]

Quote from saliva:

Well, did your Memo also tell ya that the market in general has a lazy tendency to shoot up on any holiday-shortened week?

Sure. I already posted that 4 days ago.

Quote from saliva:

I dunno about being rude, but my short got triggered at 95.

So? That is about next week, not today... Today you didn't make money with that short...

 

[Buy1Sell2]

Continuing my short position trade here and hope to hold for a while. The demonstration is working out tp everyone's benefit as we are seeing why a wide buy stop must be used when shorting and an already oversold market.

 

[dmartin]

Quote from Buy1Sell2:

Continuing my short position trade here and hope to hold for a while. The demonstration is working out tp everyone's benefit as we are seeing why a wide buy stop must be used when shorting and an already oversold market.

Quote from Buy1Sell2:

11-25-08 08:38 AM

11-24-08 07:07 AM

11-20-08 08:31 AM

Short one contract at 795.00

Initial stop 1075.00
Maintaining the stop here at 1075.00
Maintaining the stop here at 1075.00
Adding an additional 19 at 869.75 with the stop also at 1075.00
Total of 20 units short.
--Stop remains at 1075.00--I will be keeping this position small at 20 contracts due to the fact that I sold into an oversold market and must keep my stop outside of the noise. There could be quite a bit of noise with the bullish divergence on daily. The weekly and monthly remain strongly down.--
--------------------------------------------------------------------------------


Can you explain this manner of trading? Many of you think I'm hard on Buy1Sell2 but this seems just plain silly. His first trade represented a potential loss of $14,000 for 1 contract which would represent $700,000 TNW--assuming your stated money managagement plan taking no more risk than 2% of TNW. Now you make a trade of 19 contracts with a potential loss of $10,262 per contract or $194,978 if you were stopped out on all the contracts. What's interesting is this later trade now represents a TNW of $9,748,900. So what happened to your formula of risking no more than 2% of TNW? In reading many of your past post you made it very very clear that one should NEVER risk more than 2% of TNW. Is there anyone out there who can figure out his method of trading because obviously he is not going to answer me.

DMartin