ES Journal Archive (2009 - 2010)

saliva · Mar 23, 2009

Quote from saliva:

Short 815

Added more at 20.50

Target near 800
Stop above 825

BoyBrutus · Mar 23, 2009

Quote from startraitor:

out 817, too far too fast and expect cash to peter out at 820 after this type of move. Will be chances to grab it lower.

Very nice ST you saw that damn early

Spectre2007 · Mar 23, 2009

I wouldnt short...till it tests the 200 day MA...

saliva · Mar 23, 2009

Quote from startraitor:

out 817, too far too fast and expect cash to peter out at 820 after this type of move. Will be chances to grab it lower.

Very nice indeed. BTW was that a one-day or a multi-day trade?

saliva · Mar 23, 2009

Quote from Spectre2007:

I wouldnt short...till it tests the 200 day MA...

Oh, so you think we're going back up to 1000, eh?

startraitor · Mar 23, 2009

Multi day, but I was expecting an explosive move to the 20-30 level once 800 was broken. Can't be certain the move is sustainable to 30+ so best to take it off and short the exhaustion of a one day move.

Quote from saliva:

Very nice indeed. BTW was that a one-day or a multi-day trade?

tap356 · Mar 23, 2009

Quote from saliva:

Yup, feels like a dumbass. But it broke above the triangle on the 5-minute. Thought there would be a good chance for a last push up.

Saliva, could you please post a chart of the triangle, because I'm not seeing it

swing-scalper · Mar 23, 2009

Quote from swing-scalper:

The above quote was written on last Sunday. So far this speculation seems to be the case. Next week 740 is likely to be re-tested. If 740 holds well, then this rally will have another leg.

Again, pure speculation.

This market is so strong. It didn't bother to re-test 740.

romik · Mar 23, 2009

Quote from startraitor:

out 817, too far too fast and expect cash to peter out at 820 after this type of move. Will be chances to grab it lower.

Help me understand something, you're a very good intraday trader, so why the need to use a whopping 50 point stop? Most likely you had to cut size to fit your massive stop & you ended up with under 50 points profit. A dumbass decision if you ask me, you could have done a lot better out of this.

startraitor · Mar 23, 2009

That was a fat finger, should have been 54, disregard for journal integrity purposes! Even a 1-1 r/r is acceptable, to me, if you believe your edge is over 75% in a positive outcome. Additionally stops and profit targets are fluid and yes, position size was adjusted. I viewed it as a better overall r/r than trading intraday from that leve until 820-830 was reached.

Quote from romik:

Help me understand something, you're a very good intraday trader, so why the need to use a whopping 50 point stop? Most likely you had to cut size to fit your massive stop & you ended up with under 50 points profit. A dumbass decision if you ask me, you could have done a lot better out of this.