ES Journal Archive (2009 - 2010)

Status
Not open for further replies.
Quote from JSSPMK:

Good advice.

I was just wondering, let's say you are holding a position, some time later on you see that market is reversing, do you reverse or stick to your guns with letting initial trade get stopped out? I know it's a rather complex question as sometimes markets do reverse, other times they don't. Personally, I struggle with reversing a position that I am trying to ride after scale out has taken place. Do you have a protocol in place?
More...


What's your definition of reversing? 2 ? 4 ? 7 points ? It depends on your timeframe.

I watch the 9/18 sma on a 5 minute chart for divergence and anticipate the crossover. On a trend day this helps keep you in the trade for a while . As most know, my trading is done on signals that happen at intervals of 9-11 (10) so I actually prefer chop days over trend. If I am in a position and have already scaled out, then I will almost always trail the stop up as it moves in my direction. If I have scaled some at 3-6 points, I will move the stop to entry min or higher depend on how far it went in my favor and how quickly. There are times though when rules do not apply and one must trade from instinct on the exit in order to maximize profit.
 
Something to cheer up the longs:


<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/NjQCr80RIdE&hl=en&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/NjQCr80RIdE&hl=en&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>
 
Quote from jason586:

Out one more with buy limit order @ 990.25 - 02:59:44.

One left from Friday.
More...

Final short hit at stop moved to 986.50.


Now, this is where I have/can make poor entry decisions based on emotions. Right now, I can feel a sense of fear that I will miss even more of this move down thinking - what if this is an SDD day. No golf as the course is closed every Monday until 11:00am.
 
Status
Not open for further replies.
Back
Top