ES Journal Archive (2009 - 2010)

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Most traders can make money on obvious trends and lose most if not more than what has been made in chops.

Same for most trading systems ...

Key is to learn to deal with or simply avoid the unnecessary fights :)

I see 800-850 a big chop zone.
 
Quote from riskaddict:

I have no clue what is going to happen tomorrow not that I ever care :p might take the day off I think it might get near 50 degrees and I have to get out of the damn house. If I listen to my emotional side something is making me feel fearful of getting to short. How far down can it go? 750? after last year losing 50 points ain't shit. I've been using a lot of puts kinda creating straddles and its been working great all week. Usually once i feel bulletproof the worst thing possible happens. In this case if the market goes in the same direction for several days in a row Im screwed. I think I'm gonna play it like my new idol LC and just wait.
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Thanks but I don't sing or dance :D
 
key is to own a system that does the thinking for you. intraday eminis.....otherwise u lose eventually...emotion is the killer....no thinking no emotion.....the only bad thing is losing money.....low percentage systems don't work simply because you develop lead paws for fear of getting burned again.......rare is the trader who can profit with low percentage stuff......how do you get to high accuracy....a few years of extreme work and sacrifice....if u can't do that with passion, u r in the wrong business...unless losing your money doesn't matter. Volente has the passion for this stuff....too obvious with the years spent ...if anna k only knew the up down sideways never leaves us and how simple the buy low sell high with trend is she could see the gold........that is all the successful trader really uses when the years of junk searching is over.......
 
Quote from porge:

key is to own a system that does the thinking for you. intraday eminis.....otherwise u lose eventually...emotion is the killer....no thinking no emotion.....the only bad thing is losing money.....low percentage systems don't work simply because you develop lead paws for fear of getting burned again.......rare is the trader who can profit with low percentage stuff......how do you get to high accuracy....a few years of extreme work and sacrifice....if u can't do that with passion, u r in the wrong business...unless losing your money doesn't matter. Volente has the passion for this stuff....too obvious with the years spent ...if anna k only knew the up down sideways never leaves us and how simple the buy low sell high with trend is she could see the gold........that is all the successful trader really uses when the years of junk searching is over.......
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I am trying to engage you in a more substantive discussion but you recede into your shell after a few cryptic, some may say disjointed remarks. We are polite and kind in this forum. So, let's try again:

"...if anna k only knew the up down sideways never leaves us and how simple the buy low sell high with trend is she could see the gold........"

Please elaborate on the above quote. I don't think you are marketing the holy grail, are you?
 
Well, there is no doubt about it - the bears are on a rampage and could finish the week with a bang. But... I think the 798, or 780/785 today will be the low for this down move, and we get a rally today or from Monday.

ES S/R -

832/835


820/824


810/813


798/800


780/785


Below that is 750 and previous low
 
This could be a huge down day. Sittiing right there on the ledge 797.50 and 800.50 previous support. I would expect a bounce around there but after a few tries it looks lower
 
Quote from Jahajee:

I am trying to engage you (porgie) in a more substantive discussion
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Why oh why? Just put him on ignore, like the rest does...

..and please don't quote him, there is nothing to be quoted...
 
Did not realize we had consecutive INSIDE days

See chart from briefing.com; chart and commentary below refers to SPX which closed at 827.5 yesterday.
PREM is negative -3 to -4

The Technical Take: Poised For Ugly Start Watching 804/800 Intraday/Close Basis

"Narrowing trading range action/inside days do not provide a clear short term breakout direction but they do suggest that the trend headed into the pattern, which has been firmly negative over the last few weeks, remains dominant. The pre-market bias is decidedly negative with potential for a retest of this week's low at 804. On a close basis will be watching this level and 800, which marks the weekly close low from Nov."
 

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