finally buy sell stopped out of his trade. you should take a few months off you deserve it
ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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No, this is the only postive week we've had in over a month (and it still hasn't closed), price hasn't found the support it needs for a sustained rally, and the timeframe that B1S2 is looking at is still in a downtrend.
He's most likely looking at the 850-800 area to close this trade.
he had a stop in at 929.75. he's posted that many times..
Yeah, you're right.
According to his last series of posts, that is where he had his stop moved to.
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He had been talking about moving it, so I thought he was giving this trade more room to work ... it's still just a retracement on the weekly timeframe, and the monthly is still in the red.
For the record i went short near the close at 928. i did 20 contracts and will add 10 contracts every 10 pts higher. i feel we have downside back to 900 easy and possibly back to 875 by aug end. its hard to short in front of this mack truck but i believe its the right thing to do
Though the outcome was was a little frustrating (for me) the disciplined execution of his trading ruleset is exempleary, particularely when done in front of a (very) critical audience.Quote from Buy1Sell2:
Some trades will not be as good as others. I am looking for performance over the long haul. If I were to take 2 off, then I would have taken all 20 off. I am not trading off of any charts less than the daily right now. What I am trying to demonstrate here is "how to stick to your rules." --Izzy
Good trading
Looks solid ... the weekly has to hold the downtrend though, otherwise it could be troublesome.
Good trading.
This is a longer term hold. If the profit comes fast i'll take it. I guess what i'm trying to teach here is once the mkt bottomed in march and skied the short side trades would be faster trades. tops takes weeks and months to form and bottoms take days. so my thesis is why not take many small short trades instead of looking for home runs all the time like buy-sell.his shorts before worked because we were in a one way bear mkt. now we're in a trading type mkt with many big ups and downs so one must be more nimble.
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