ES Journal Archive (2009 - 2010)

[rock34748]

Quote from rock34748:
sh 1091.5 for overnight possible swing into mid-week; sl starts at 1105.
sell offer out @ 1098.5 for sh avg 95.0 (if it gets there)

Hit offer; waking up seeing crap U$D; out of add at 1098.75; coffee; breathing room; rethinking plan.
edit: ok; still short smaller size for this swing 1111.5 stop

 

[Buy1Sell2]

Quote from romik:

What is your outlook on what's happening in the world right now, your thoughts.

Economies, especially the US, are being destroyed.--Medium term trend of ES remains up. It is merely a trading vehicle now--No fundamentals involved. Ride the trends using breakouts/breakdowns or the Romik™ (flip flop method)

 

[Buy1Sell2]

11-10-09 07:29 AM

11-09-09 01:26 PM

Long here with 20 @1075.50
Initial stop 1038.75

--Raising protective sell stop on this breakout trade to 1053.75 (11/10/2009)--
--Raising protective sell stop to 1064.75 (11/11/2009)--

 

[ammo]

nq at its price line res

 

[Pekelo]

Quote from Buy1Sell2:

No fundamentals involved.

I was just about to post the exact opposite. No technicals involved, we are riding this clearly on the weak dollar, which is fundamentals.

 

[MandelbrotSet]

Quote from JSSPMK:

I think one has to just take on board Buy1Sell2's notion of if it breaks Hi buy if breaks Lo sell.

I don't think he's saying that exactly.

He bases his analysis on his indicators, and then looks for confirming price action on the fractal tha the trades on.

Edit: Just read through his other post, and yeah he does use his indicators for his trading, but he also mentioned method the flip-flop method used by romik way-back-when, so you're right.

 

[JSSPMK]

Quote from MandelbrotSet:

I don't think he's saying that exactly.

He bases his analysis on his indicators, and then looks for confirming price action on the fractal tha the trades on.

Edit: Just read through his other post, and yeah he does use his indicators for his trading, but he also method the flip-flop method used by romik way-back-when, so you're right.

It's interesting how 'evolution' process takes place, for instance Buy1Sell2, as far as I understood it, for most of his career as a trader used to scale into positions when indications suggested an end of a trend. Nowadays, I think he doesn't even use indicators, just draws a TL, if market is in an uptrend he buys a BO, if market is in a downtrend he sells a BD. Correct?

 

[Buy1Sell2]

The Romik™ (flip flop method) is not necessarily recommended. It merely shows that a trader can trade without using much analysis at all and still be successful.--As long as you are willing to take many small losses in a row.

 

[ammo]

Quote from ammo:

add 92 , avg 79, ledge at 86 on mp chart , when its gone, extend lower

week of 9/28 /08 dow low 10315,retrace level for gap fill, 1098 res on spx hit ,close enough for a pullback add 96.25 sh , avg 80.5

 

[Buy1Sell2]

Quote from JSSPMK:

It's interesting how 'evolution' process takes place, for instance Buy1Sell2, as far as I understood it, for most of his career as a trader used to scale into positions when indications suggested an end of a trend. Nowadays, I think he doesn't even use indicators, just draws a TL, if market is in an uptrend he buys a BO, if market is in a downtrend he sells a BD. Correct?

No. Indicators are a major part of the trading strategy. I define trend on a higher time frame using indicators, then I only look for trades in the direction of the higher trend on the lower time frame. I then use indicators on the lower time frame to give me an idea when the potential for trend direction momentum will be high. The I buy or sell, a breakout or breakdown.

Reminder: The last trade I posted was a countertrend trade and you can see how there was no real follow through to the downside. This is why I don't trade countertrend.