ES Journal Archive (2009 - 2010)

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Quote from tommymoose:

I'm still short via long FAZ... I had my stop sitting at 18.88 which was narrowly missed during RTH today. The ETF's don't trade overnight, so unless this spike reverses in the overnight and we open lower than we closed, it looks like I'll be stopped... correction, most likey raped by the gap tomorrow.

Todays action was the last thing I would have expected. I do all my analysis off ES and thought it wouldn't be a problem to trade FAZ as a proxy to get some more action, but it didn't work exactly as I expected. Had I been trading something tied to the S&P I'd be willing to hold my position to ~820 before stopping out at about break-even. Instead the financials showed more strength than the S&P, so it looks like I'll be taking a small loss instead of still being in the green. Lesson learned. I'm still long a small amount of SSO from the lows but never got to increase that position like I wanted to at ~750-760 after scaling it out at 820.

Theres alot of market fuckery going on... throwing mark-to-market out the window? I feel like we're living in some fantasy world like Oz or something where you can just rewrite the rules and the market actually perceives it as bullish. Oh well, no excuses. If this 820 level doesn't hold as resistance then we're going to 860.
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It happens to the best of us. Nothing new under the sun when powerful market moving news are injected into the free markets. My suggestions is never get married to your opinions. The market will always remind us of who is really in control.

Example; I had a strong feeling that Monday's selling was too good to be true so I stepped in front of the freight train and went long at 780 or so when many people on this board were screaming bears, which turned out to be a good day. Today, I bought 2 tics near the low but exited just when the move started to get traction. I was stubborn to accept it, but fortunate enough not to allow it to ruin my day, and ended up the rest of the day picking a few points here and there. Unfortunately, it is all part of speculation and there's nothing anyone can do about it other than managing risk and keeping our egos in check. And when we have a bad day, we just pick ourselves up and move on. Best of luck tomorrow.
 
Quote from Decel:

822.25, damn you beat me :eek:
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Keep me in good company and I might even introduce you to one of them trannies down at around 813 (hint, hint).

:D
 
eh 813? I thought it would reach 807... All I'm affraid is that Obama suddenly declares that every American becomes a millionaire... My stop is mental.

At what point/distance do you move your stop (or if you do that at all?)
 
Quote from Decel:

eh 813? I thought it would reach 807... All I'm affraid is that Obama suddenly declares that every American becomes a millionaire... My stop is mental.

At what point/distance do you move your stop (or if you do that at all?)
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I blame Geithner rather than Obama for my "Made in Zimbabwe" millionaire status.

I utilize a one-size-fits-none strategy for the AH session. As you might already know, the price action is just garbage and I don't feel like being glued to the monitor watching its slowass pace. So I just fire off an OCO order with my price target and stop loss.
 
Todays move up was not supported by bonds and EURO/YEN. I'm still thinking we are going down towards the end of this week.
I bought some ERY near the close since I believe shorting financials is more risky than energy.
Good luck to everyone!
 
Quote from Decel:

Do you guys use IB? How do you create a bracket order after an order has been made?
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You can only place a bracket around an order that has yet to be sent. Once it has been fired off, you need to create an OCO (One Cancels the Other) order.

To create a bracket order, right-click on the main order and select "Attach --> Bracket Orders".
 
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