ES Journal Archive (2009 - 2010)

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Quote from Picaso:

Please do not hesitate to tell me to go mind my f@#ing business :D

(I'm posting because I understand you use the TICK)
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By all means, Picaso. Please share whenever you feel like it :)

Nice charts and we`re completely on the same page here. I try to fade TICK readings or at least wait for TICK to pull back before entering. Obviously, it`s not something I always manage to follow and today is a good example:)
 
Quote from Laissez Faire:

Obviously, it`s not something I always manage to follow and today is a good example:)
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Hey, it happens to the very best. :)

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I am basically BE for the day. I shorted ES at 1242.75, and took a stop as the market rallied. I was actually initially .50 profitable, and probably should have brought my stop down instead of leaving it alone since this was the high of the market when I got into the trade.

When I got out, I saw CL shooting up, and since I missed CL, I went long Euro thinking it was about to break out. Problem with this trade was I should have only gotten long if it did break out or get long at support. When Euro hit support, I did go long a 2nd contract, and was able to get out of this trade around BE or a small loss.

CL looked liked it over shot, I got short, and the trade went 5 ticks in my direction and turned against me. When it went 2 ticks against me, I manually killed the trade. I then re-shorted near the top, and manually got out with an 18 tick profit, but I could have gotten 30 ticks or at the very least should have taken 2 more ticks.

I don't find a flaw in my 1st ES trade except maybe going against the overall trend.
 
Quote from Picaso:

Hey, it happens to the very best. :)
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Nice, I needed that one :)

Let`s just hope that my account does not go to zero before I`m able to turn it around :cool:

I`ve decided to shut down my live account for the year and start my holiday. I will probably follow the markets and sim trade, but no more live trading until next year and I will probably start 2011 in the simulator.

I`ve made tremendous progress since I went live, but I`m still not consistently profitable. I need to reassess what`s smart to do next.

Regards,

Laissez Faire
 
Quote from Picaso:

If you had shorted at r10, closed at +5 and bought the negative extremes in the TICK at 38-ish and (added at) 36-ish you'd find this action way more entertaining.

Or you could have simply bought <i>the dip</i>, not in the middle of nowhere, and be up about +5.

But what would I know? :D :p
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Or you can enter on TICK divergence as seen below. ES made two lower lowers after the 10:15EST low, both on DECREASING volume and WITHOUT volume spikes upon each breakdown, and the micro consolidation from 11:17 to 11:29 (memorize that formation when followed by a volumeless lower low. It will serve you well.). Bad bad sign for shorts. This is a clear warning that the move is nearing its completion, also confirmed by the TICK.

The 11:08EST TICK low was as good a signal as you'll ever get. TICK was spiking lows every 10 minutes beginning at 10:38. The TICK's 11:08 higher low said "Let's Party." Combine that with the ES hitting it's trendline formed from Thursday's RTH low (channel bottom) to last night's low, and you have yourself a great great trade. And if anybody was watching the NQ, it came just two ticks shy of its MM beginning with Friday's RTH high.


tickvses.png
 
EUR seems to be losing ground, TICK weekly's MACD keeps declining.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=3041411>
 

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Quote from i_c_fed_people:


I guess Tday tomorrow well get us moving up properly, but for now have an order in to close this when price gets up to 1246
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Nice:cool:
out as planned here at 1246 for another +4

will get long again sooon, expecting a decent rally for Tday
 
Good morning everyone!

Could anybody tell me what they see as next resistance? - a bit at a loss here on the long side.

Many thanks.
 
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