ES Journal Archive (2009 - 2010)

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Quote from opt789:

.25 profit with 10.25 point drawdown, and aren’t you still holding short from 100 points ago?
Please believe me when I say I am not trying to disparage you, but I have been trying to tell you this whole time that what you are doing won’t work. Many, many traders have tried what you are trying and it has never ever worked. It may be possible for certain traders to trade without a stop and use a negative risk/reward ratio but there are not many of them and the key factors that keep them in business are low leverage and proper money management.

Might I suggest you try using the SPY just 100 shares at a time until you figure out a system that has a possibility of long term success since you don’t have enough capital to do what you are doing now with the ES.

Before anyone complains, I am posting this after the market close, as I did before, so I am not interrupting the flow of what the journal is about.
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No problem.
Yes, that was a terrible trade; I should have lost money.

I was only replying to the question asked.
 
Quote from kinggyppo:

spy chart, monster gap unfilled under 920. Will the market rip or yawn on tomorrow's gdp? I will be watching currencies very closely tonight.
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I wish the currencies were telling me something useful, but the last few days have been perplexing.

I only see two unfilled gaps on my hourly RTH chart. One from 7/15/09 at around 903-912 but that is irrelevant since the bulls have decided we will never see that level again, and the other is today’s gap from 975. If they like the news tomorrow morning and we don’t trade below 980 then we have a pretty clear breakout, however if they decide to gap it down to fill the 975 and keep it below 980 then it could be an island top. That is a long shot hope for the bears, but hey they have been grasping at straws for awhile now.
 

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Quote from opt789:

I wish the currencies were telling me something useful, but the last few days have been perplexing.

I only see two unfilled gaps on my hourly RTH chart. One from 7/15/09 at around 903-912 but that is irrelevant since the bulls have decided we will never see that level again, and the other is today’s gap from 975. If they like the news tomorrow morning and we don’t trade below 980 then we have a pretty clear breakout, however if they decide to gap it down to fill the 975 and keep it below 980 then it could be an island top. That is a long shot hope for the bears, but hey they have been grasping at straws for awhile now.
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That's my point about the gap fills; they seem to fill against all odds. There is also a massive overhead gap from 1070 that is unfilled from the ride down last year that will likely fill at some point. 920 or 1080 first, I am betting on 920. :)
 
07-30-09 08:39 AM

07-29-09 07:29 AM

07-28-09 07:12 AM

07-25-09 11:48 AM

07-20-09 07:09 AM

07-16-09 06:26 PM

07-16-09 07:14 AM

Long here with 20 @ 925.25
Initial stop is 817.75

--Staying long for now with same stop (American evening 07/16/2009)--
--Continuing to stay long here with the same stop (Morning 07/20/09)--
--Protective sell stop will be moved on Sun evening to 952.00--
--Keeping the stop the same today at 952.00. Good fortune to all (07/28/2009)---
--Staying the same here this fine Wednesday morning with the stop @952.00. Ich habe ausdauer immer (07/29/2009)--
--Moving protective sell stop to 957.00 this American Thursday morning. Good fortune to all (07/30/2009)--
--Staying put here with the same stop (07/30/2009)---
 
Paul Alan, what do you think about these charts? Obviously only a brake of support will confirm, yet look at how historically price kept bouncing off that 60 moving average on those Weekly charts.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2522239>
 

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