ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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Quote from lurefo:
With all due respect, I think you should be better off doing your own homework to spot supp&res.
That being said and for what it's worth, NQ is trying its hardest to bounce off the 15min RTH low end uptrend channel at 1306.
Good luck.
PS 10000 pages... that's a lot of top and bottom picking calls
Sell 1000 lots limit at 5 SMA. Thereafter 1000 lots market. 2000 lots invested. Panic guaranteed. Collect risk free $$$$.
Hey, I resent that representationQuote from Pekelo:Haven't I just posted a picture about Promises?
Anyhow I was traveling and I was also testing something. I was curious who can use my ideas when I am not around. LC gets a giant A+, congrats!
I have wanted to make a point for a long time and now this is quite an excellent opportunity. So I will share my dream, a nightmare actually:
Give a man a fish.... (yes, my dreams have titles)
Decel, who is a smart fellow, recognized, that it is possible to copy certain poster's trades, supposed that they were not scalps, detailed and are caught quickly. Thus Decel has been making good money following ST's posts. LC who is another smart fellow, recognized that occasionally there is a diamond in the desert of ET, thus he has been paying attention to what Pekelo says. He also has been making good money.
One faithful and foggy day Pekelo and ST were driving down together on a windy road, when a big truck driven by a drunk JH hit them and they were both instantly killed.
The next day Decel was waiting for the fish, I mean for the posts to come, but there were no more posts to follow. On the other hand LC, after sending flowers to Pekelo's widow, was still making good money, because he learnt how to fish, I mean how to recognize an ADU, like last Wendesday...
Anyhow, as I said it was a nightmare, because I don't like to be killed, specially in my dreams...In real life, who cares, after all, I am dead.
The moral of the dream is that one shouldn't drive in foggy conditions....
Speaking of fishing, who recognized the giant upside down dragon on the daily chart a few days back? The Failure was at 815 (on the 7th) and since the Height was 52 pts, it projected a 867 3rd top on the cash, and we sure made it to 864 in the next 3 days. I didn't post it in real time, because what if I do die one day??? (chart of it is posted in the Dragon thread)
By the way I am not against backing others' profitable trades, that is actually a smart way to make money, but one just never know how long it lasts....
I definitely do not copy anyone here, with the simple argument that had I did, I would have a lot more than what I have currently
The simple point is that I have learned a lot from this thread, and over time have identified the posters who's arguments/opinions I follow with attention, and try to see what makes them post their position at such point and time.
I learned a lot from you and volente about the daily trends. I can identify ADUs and SDDs, albeith not when they're being offset. I learned to watch out for T-Days, fed days and the next day after.
From Saliva and Star I learned to be careful when I have positions that are opposite to them. I still try to figure out how they come up with targets to their trades, because that is probably my biggest weakness. I either not place stops and get creamed, or place them too close and have it hit within the "noise" and miss the train. When I'm positive, I never know when to exit (or at least know with as much conviction as Star and Saliva).
I like to read LC's posts, because he seems to not only understand the market, but the psychology of the other traders (the big ones).
I believe however that whatever numbers LC and wave post are two leagues above what I see. ammo, Star, you and Saliva are probably a league above. By league I mean timeframe. And of course, 3 leagues above me is B1S2.
By that I don't mean that B1S2 is better than LC or Saliva, but simply that I believe that I should learn to see the numbers of the group that trades a shorter timeframe (league 1), before learning the intermediate-term numbers (league 2), before even thinking about playing the long-term on futures (league 3).
Frankly my trading style is closer to ammo's, albeit with less assurance and definitely less funds. Right now I am currently in a comfort zone where I trade off the RSI's extremes with divergences. The main reason I have been successful last week was that the market acted the way I wished it acted. Simple as that.
I have too big an ego (and stupidity) to simply copy anyone's trades on this board. I am a sheep and I know it. I just to want to become a dog before aspiring to be a wolf.
And on that note, thank you guys for sharing (or having shared) your views of the market.
About today's action:
Damn! Still kicking myself for having missed the train! I saw the -2 on the ES last night on the open and thought "This thing will probably pop to the 870-875 area before falling, let's enter then" only to have it slide and never look back. I wanted to short the NQ (since it costs less), but it pulled back harder on Friday (the ES was really the one I wanted, since it lagged the two others on the downside), but I missed my shot.
With all the pumping these past weeks I was too affraid of scalping long, and with that gap I was affraid the crazy trannies would make a sneak attack like they did repeatedly.
Geh, sidelines until I see something that I like
Damn! Still kicking myself for having missed the train! I saw the -2 on the ES last night on the open and thought "This thing will probably pop to the 870-875 area before falling, let's enter then" only to have it slide and never look back. I wanted to short the NQ (since it costs less), but it pulled back harder on Friday (the ES was really the one I wanted, since it lagged the two others on the downside), but I missed my shot.
With all the pumping these past weeks I was too affraid of scalping long, and with that gap I was affraid the crazy trannies would make a sneak attack like they did repeatedly.
Geh, sidelines until I see something that I like
awesomeness
main target 790 ES... before the end of the week if I had to guess
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