ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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3 trades, 4 (total) contracts, 4 losses. WTF!! Had one chance on my one 2 contract trade but my short got stopped (5 tick stop) at 1066.25 before heading to 63.50.
The market seems to be moving faster (as in tick by tick movement) than ever these past few days. I really need to let it calm down a bit before I start making trades, with my short stops (5-6 ticks) anyway.
I may go back to sim trading for a few days. Every loss results in me second guessing every trade I want to make and then I start deviating away from my trading plan (almost to the point of doing the opposite of my plan).
Happy trading!
The market seems to be moving faster (as in tick by tick movement) than ever these past few days. I really need to let it calm down a bit before I start making trades, with my short stops (5-6 ticks) anyway.
I may go back to sim trading for a few days. Every loss results in me second guessing every trade I want to make and then I start deviating away from my trading plan (almost to the point of doing the opposite of my plan).
Happy trading!
The problem is that you rarely ever get a strong follow-through these days. With a strong selloff yesterday, you'd think there will be some sort of continuation. But, hell no!Quote from M3peat:
3 trades, 4 (total) contracts, 4 losses. WTF!! Had one chance on my one 2 contract trade but my short got stopped (5 tick stop) at 1066.25 before heading to 63.50.
The market seems to be moving faster (as in tick by tick movement) than ever these past few days. I really need to let it calm down a bit before I start making trades, with my short stops (5-6 ticks) anyway.
I may go back to sim trading for a few days. Every loss results in me second guessing every trade I want to make and then I start deviating away from my trading plan (almost to the point of doing the opposite of my plan).
Happy trading!
It's been like this for the last 7 months. So my suggestion is that don't get sucked in by these bear pussies. They won't bail you out like the PPT trannies.
On that note, I'm short 65
Stop 67.25
Profit target 61.75
If I can add my usual, unsolicited advice...
Phase 4 of the Journal should be realizing that one doesn't need to rediscover the wheel. Once you have the longest and probably the best journal on this site having some pretty good talents posting in it, you only have to be able to RECOGNIZE that talent and follow their leads.
4 or so days ago I correctly identified the top and gave you the signal to go short. That was around 1085 ES and since I was a few hours early, anywhere above 1090 was a gift to you.
Then 2 days later Wave gave you the downside target as 1060. That's where you should have got out and switched to long this morning. That long went in the money by 8 pts in the last hour before pulling back.
There, no rocketscience involved, just recognizing whom you should listen to...
Well, maybe in Phase 4, and we are in Phase 3 only...
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