ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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He thinks spitting out a call is the same thing as actually making a trade. Well, is it? First of all, the probability of success for the calls is 50/50. You either get it right or you get it wrong, period. However, not with them trades. Not only must you time your entry impeccably, namely knowing exactly where to get in, but you also must know where you'll be getting out, for both stop loss and profit target. Not only is it regrettable to get stopped out with a loss but it's damn unfortunate to relinquish all your hard-earned profit just because you were so stupid not to take profit when you had the chance. As the saying goes, get in too early and you get killed but get out too late and you'll really get shredded to pieces. Hence the probability of success involving trades ain't exactly the same as giving such sage advices, although I have my reservations about whether they're sage or not.Quote from Pekelo:
Oh about the live trades. I have posted 20 consequtive winning LIVE trades on ET, with an average win of 3 pts. That was back when the volatility was still low though, so I apologize...
Good luck finding them among that another 5555 or so posts!
But anyhow, my strategy posted in advance has worked 8 times today and instead of trying to follow it, people are bitching about free winning strategies!
That is ET in a nutshell.... [shrug]
As long as Goldman and Warren Buffet control the show - I highly doubt it...
240 min - SMA´s, trend channel, Fibos :
Maybe the market will sell-off if there is a fat finger event (LOL), but based on what I'm looking at, the market is finding traction and is about to head back up (not a call, Pekelo has that area covered, LOL some more).
See ya.
Ok bro, here come the FAT FINGER, do you want the shocker or the party stopper? Or you may prefer the Spocker?
Quote from MandelbrotSet:
Maybe the market will sell-off if there is a fat finger event (LOL), but based on what I'm looking at, the market is finding traction and is about to head back up (not a call, Pekelo has that area covered, LOL some more).
See ya.
My take on the overall market right now is that its direction will be decided by the financial sector. The financials were the catalyst for the market collapse of last year and they appear to be the main driver for the recovery of the S&P 500 since March. Assuming that the financials will lead the way, I would wager that the outlook over the next 3-4 weeks is bearish. If you look at a chart of the Russell 1000 Financial Services Index (RIFIN), you'll see what appears to be what Bulkowski calls an ascending broadening wedge (http://thepatternsite.com/abw.html), which in this case looks bearish since a downwards breakout has occurred. My guess is that RIFIN will hit 700 within the next couple of weeks and the rest of the market will be pulled down with it.
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