ES Journal Archive (2009 - 2010)

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share some thoughts about my trade here, I was bearish today. first the GDP will be there tomorrow, next bulls need take their profits (yesterday YM almost shot 400points from hod). did not get much from the late drop, someone may question how I catch it. I entered my short around 1827, got out when I screenshooted it
 

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Quote from oraclewizard77:

I also ended up positive on my es trades today, but could have done much better if I did not kill some of my trades early since I was getting scared since I had averaged up too many contracts rather than taking a bigger loss on 1 trade.
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Hi OW,

IMHO, if you plan to average down (up) on a trade that runs against you, have a trading plan with a stop and an expected target. Averaging into a losing trade shouldn't be a random affair that's played "on the fly" or what will happen is either you'll get burned one day (if you have no max loss planned in advance), or your trade will finally signal properly, start moving your way, and you'll exit too soon instead of letting the winner run. If you have an advance price target, let your trade work.

I didn't trade ES today, but I traded a stock and let two decent winners stop me out near b/e because I was trying to let a winner run. I also had some CL trades where instead of scalping a quick 10 or 15 ticks, I was stopped out near b/e trying to let winner run.

I mentioned to my husband my frustration at watching a potential $650+ day end up +$164 and he had a very good response for me: "You did the right thing. If you don't practice letting winners run, you'll never get those really big winners."
 
Quote from kinggyppo:

this market is in need of medication, I recommend 350 mg of Prozac.
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In this market, ure guilty until proven innocent.

Here's my pet theory on what the hell is really going on. Ya see, up until the time SEC had the nerve to go after Goldie & Co. for obvious political reasons, among which financial regulation is a big factor, the idiots at Goldies were locking arms with the PPT (how could they not? They were practically owned by the Fed.) But now the honeymoon being effectively over, it appears the divide between the two is only getting wider by the day.

One will surely go under when all this is said and done. Who will it be? Goldie or Obama (or more likely Geithner and Bernanke)?
 
Looks like nice triangle break out to the downside showing me I need to draw more trend lines on my charts. I assume the blue line is a moving average, and we can see that market did not cross back above it once it broke to the downside.

Quote from trader198:

share some thoughts about my trade here, I was bearish today. first the GDP will be there tomorrow, next bulls need take their profits (yesterday YM almost shot 400points from hod). did not get much from the late drop, someone may question how I catch it. I entered my short around 1827, got out when I screenshooted it
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Quote from startraitor:

Short at 62, aiming for 32, 20 point stop.
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I wouldn't put too much trust in your fellow bears. It's my noobie hunch that this market will turn at 1055-ish. We're due for a bounce any day now.
 
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