ES Journal Archive (2009 - 2010)

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Quote from Ken More:

I mean no disrespect but with over 5000 posts, in a relatively short period of time, perhaps you should turn theory into practice. You needn't worry about how profitable I am or anyone else for that matter.
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You're right.

I couldn't care less how profitable your are, or anyone else for that matter.

Quote from Ken More:

Profitable people have long sought tax shelters and havens to minimize their taxes. To me, what makes futures trading worthwhile, is the relatively low tax rate (23%) and no self employment tax.
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Yes, it's nice that we've been living under conditions where we have to pay very little taxes for what are essentially purely speculative gains.

Quote from Ken More:

If you were paying anywhere near what I shell out in taxes every 3 months, you'd understand. Sorry to be so candid.
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If you try to shelter your trading income in an illegal tax shelter, you're going to spending a lot of time wishing you could be making those speculative gains and paying the full tax on them instead of hanging out with Bubba and going to the Library for entertainment.

Sorry to be so blunt. :D
 
Quote from iloveoptions:

Wow, that was a quick 10 pointer!! Closing out the hedge here at 913.75 :) Now I'm gonna regret it. :D

Current position: Short 814.25 + Zero Hedge.
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Back up to 10% here at 905.75

Current position: Short 814.25 + 10% hedge.
 
Quote from pocketmoney:

that trade just based on the double top?
You seem to make a lot of good calls so im interested in your reasoning.
Do you have a journal for your style of ES trading or anything?

cheers.
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Thanks, just doing the best I can; only been trading ES for 3 weeks now. Only trade 1 contract at a time - periodically adding a 2nd and rarely adding a 3rd. I just watch the price (do not use any indicators) and try to catch an opportunity when the price looks like it went one direction too far or too fast especially when it is towards the high or low of the day.
Happy enough with many small profits while taking a hit now and then. Still learning everyday (+25% at EOD since starting on 04/29).

I took that trade a bit early and then exited way early at 911.25.
 
Tricky trading here. On Lawrence's suggestion I merged the last 252 trading days in a ES continuous contract profile just out of curiosity. Bulls overshot the value area high and standard deviation by two percent. The bizarre part though is that the stops run over at the bulls' 'soft corner' 120 degree (914), bears counting on a fourth wave breakdown, ultimately led to the extension. Bull bias selling pressure. Bears did indeed start their own cycle from 927.75 and completed half of it before this nice, profitable rally. The interesting part? Bears already retraced the mean reversion at exactly .62%, from the start of this week's rally. There's been a decent amount of volume traded at 910 during the last year and again in the past 10 period look back. There's even more volume at 900. Bulls caught that knife at 902, testing 07 and winning 07.

There's already signs it's been bought at close by old hand position players. Think about it, what better place to buy with size than when people are confused which end is the false breakout. lol

I've half a mind to buy it at 04.25.

What do you guys think?
 
Quote from Alvianse_D:

Tricky trading here. On Lawrence's suggestion I merged the last 252 trading days in a ES continuous contract profile just out of curiosity. Bulls overshot the value area high and standard deviation by two percent. The bizarre part though is that the stops run over at the bulls' 'soft corner' 120 degree (914), bears counting on a fourth wave breakdown, ultimately led to the extension. Bull bias selling pressure. Bears did indeed start their own cycle from 927.75 and completed half of it before this nice, profitable rally. The interesting part? Bears already retraced the mean reversion at exactly .62%, from the start of this week's rally. There's been a decent amount of volume traded at 910 during the last year and again in the past 10 period look back. There's even more volume at 900. Bulls caught that knife at 902, testing 07 and winning 07.

There's already signs it's been bought at close by old hand position players. Think about it, what better place to buy with size than when people are confused which end is the false breakout. lol

I've half a mind to buy it at 04.25.

What do you guys think?
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If you like it here, you are going to love it at 95-96.


:)
 
Thing is bears already corrected 823 at 50% from this week's 120 corner double top B. I count 5 waves, an ABC and a failed 1st from the c wave starting the bull. My 21 S chart shows it aiming high. It may fail and tick 02 but they dug in with some heavy volume to turn that bad boy no doubt.

I've been watching exchanges in equal confluence at 900 since the 4th. 896 is a bull angle minor pivot lined up with the square of range from 1586.75 tested and bulls climbed back on top of it in high order. I'm looking for a tick below the low and yet another healthy coil, after maybe an RTH session of consolidation.

That's not to say Jan. highs won't be lost because it very well may be, intermediate term, anyway. I project 933 for the 45 angle before correcting 665.75. It looks scary from there the way I'm seeing it.

Also it's good to be here. Please wait a day before digging in on my calls. lol

While I much prefer to momentum trade, I get a kick out of calling turns the way I see 'em; and I'm not vested in them either so while good fun can be had in contentious gamesmanship, too many can't handle it personality-wise.

I like it here is all I'm saying.
 
looks like a chart pattern

share.jpg
 
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