ES Journal Archive (2009 - 2010)

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Quote from M3peat:

That's what I figured but didn't realize how much of an impact it really had when 'they' are not in the market.
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If today were mid week, then volume would have picked up after 1 pm.

But today is Friday, many choose to end the week early.
 
This whole week market has been bullish so if you not sure which way to trade, you have a better than 50% chance of winning just by going long. Of course next week can be different, and there was a nice short trade that I missed today.
 
Quote from oraclewizard77:

I have set a daily loss plan where I can either take 2 trades in a row without averaging in to take the stop or 1 trade where I average into the trade ONCE, and take the stop.

Ok, so from this message, obviously, I averaged into the trade. I went long at 1035.25, then I went long again 1034.50 instead of taking a stop around there, and gave myself a full 2 points for the stop below 2nd entry.

I then got out at a profit at 1036.25 real money. In demo I am leaving a runner to see if we go back to around 1039.

Feel free to make comments. Just glad I made some money today.
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From my experience, scaling in seems to work better if I keep the scales fairly wide. Definitely equal to at least 1 stop value (2 pts in your example above). Also there are certain conditions in which I never scale. - Just my .02. :)
 
Hello,

Considering the slow movement of the ES today, should one have not entered the buy point at the 1040 level? Is this forum a daytrading or position forum, or both?
 
Yes, you are right, I actually saw I entered in my 1st trade at 1036.25, and 2nd at 1034.50 and then targeted 1036.25 for real money. Demo, I got out 2nd contract near 1038 level.

I looked back at my charts, and saw that I should not have gotten long till around my 2nd entry and my 1st was just bad trade management, a bit of trying to pick the bottom and chasing it back up from 1035.50 when that did not fill.

Quote from tomahawk:

From my experience, scaling in seems to work better if I keep the scales fairly wide. Definitely equal to at least 1 stop value (2 pts in your example above). Also there are certain conditions in which I never scale. - Just my .02. :)
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