ES Journal Archive (2009 - 2010)

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Quote from Pekelo:

Sometimes we don't get a clear touch. It still needed 2-3 pts, ES LOD was 1051.5

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What SMA line do you keep referring to?
 
Did ok with 2 trade long scalps. 1st trade got in too early, but stop did not get hit so since the market already fell too far, I reduced target price since I felt it could not go up enough due to bad price entry.

2nd trade long, instead of buying at market or with limit, I bought with a stop price. This means that I wanted the market to show that it was going back up and bouncing off of congestion instead of falling through congestion.

This means although I had some confirmations that the market was going to go up, I decided to get in at a worse price, since I wanted market to prove me right rather than getting in at the optima price. Do some of you use buy stops? Anyway, since again did not pick best price to go long, lowered target price for another winning trade.

Hopefully, in future trades I will be able to use my standard stops and targets to get more profit. Since I reduced profit target on 2nd trade and since price was now going in the direction ie up for the trade, I did use only a 1 point stop to prevent poor risk vs reward.
 
Quote from BSAM:

What SMA line do you keep referring to?
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I use SMA 9, that mustard colored line. It works very well on other timeframes too. (the posted chart was a daily one)

It is a mean reversal thingy, we tend to go back to it, once we broke through, then bounce from it....
 
I can’t believe you guys are still trying to beat this dead horse. Oh hang on Marjorie I think the ES is about to move another tick

CL 1 tick 0.01 = $10


It’s black gold baby!
 

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See how easily we were able to eradicate that stilly drop and put a few more points on top for interest! ?
A thing of beauty, indeed. Onwards and upwards please!
 
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