ES Journal Archive (2009 - 2010)

[yip1997]

Quote from newguy05:

i had the same questions, here's some additional details that should clarify everything:

http://elitetrader.com/vb/showthread.php?s=&postid=2358991#post2358991

Thanks.

 

[Roman Candle]

Everyone short ES @ 925.00

 

[yip1997]

Quote from Buy1Sell2:

---Will stay short here for the moment. There is a strong possibility of a large pullback here.

What is your target?

 

[piggie2000]

covered another 10 at 924.75. holding 50 from 945 ish

 

[Lawrence Chan]

Quote from yip1997:

What is your target?

B1S2 does not use target.

His money management method takes care of the ride.

 

[satchel]

Quote from satchel:

Easy short all day.
Trend!

Duh!

NQ -30

Big day just getting started.

 

[saliva]

Hee haw, hang in there yo trannies and you just might know what a bull-whippin' SOB we shorties are. We ain't Romans that's for sure.

 

[saliva]

Quote from saliva:

Short 35.50
SL above 37

Out and flipped long 920.50

SL below 917

 

[Buy1Sell2]

Quote from Lawrence Chan:

B1S2 does not use target.

His money management method takes care of the ride.

Thank you. Yes that is correct. Also, barring a major recovery today, the daily trend is now down.

Logging off for the day--Ishmael

PS --Longer term weekly remains bullish, and longer term monthly is bearish. Pick your poison.

 

[opt789]

Quote from Lawrence Chan:

B1S2 does not use target.

His money management method takes care of the ride.

To summarize for the new readers and add to LC’s post: he does not really use targets, just entries and wide stops – at most 2% of total liquid net worth. Multiple divergences in the MACD and RSI are key to his methodology. Per his post that makes him a multimillionaire so he can afford to trade a little differently than most here. After years of watching him trade I definitely don’t agree with everything he does, but I do take his view of the market seriously which is very rare for this website.

As to ES, the markets as well as the dollar are at key levels. We are at the precipice of a possible real change vs. the last two weeks.