Cash below 900 already, time to bounce.
ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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This bounce will be juicy... bullish 5-wave wedge
all the way 2 da bank
Quote from saliva:
895 and counting. Another update will be made towards noon.
Boy's looked weak but they did manage get futures from red to green twice during pre.
~20 minutes and then they are coming to give you 913 sometime today.
If we break 900 again, move back to 908.50 is target.
I just came out of a nasty drawdown. I know I am a better trader for dealing with it. My first mistake was letting a small loss become a large one. My point is everyone will deal with this at some time. I was able to trade out of the position with a bad scrape only. Hopefully, I will learn to keep losses small AGAIN. This is what happens when you move a pre-determined stop. I am posting this as I hope it will help others. To me there are two ways to deal with a losing trade, cut it immediately at a predetermined stop or trade around a loser. The first way is easy, the second is hard and stressful as hell. Dealing with heat or loss really lets you know where you are at emotionally. I knew my position was right but you have to have mastered your emotions to hold when deeply underwater. Here is an ok article about drawdown. Good trading.
http://www.fundadvice.com/articles/investing-basics/drawdowns-losing-money-is-no-fun.html
http://www.fundadvice.com/articles/investing-basics/drawdowns-losing-money-is-no-fun.html
Opening range bottom tested, now the top.
If taken out, gap fill + 50% of yesterday at 910.
If taken out, gap fill + 50% of yesterday at 910.
went short @ 895 target 888
stop @ 900
stop @ 900
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