ES Journal Archive (2009 - 2010)

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Quote from Buy1Sell2:

No. Indicators are a major part of the trading strategy. I define trend on a higher time frame using indicators, then I only look for trades in the direction of the higher trend on the lower time frame. I then use indicators on the lower time frame to give me an idea when the potential for trend direction momentum will be high. The I buy or sell, a breakout or breakdown. :)

Reminder: The last trade I posted was a countertrend trade and you can see how there was no real follow through to the downside. This is why I don't trade countertrend.
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Understoodemondo.

Why do you need an indicator to define a trend? Don't you think that HH HL HH HL is enough to define a trend?

For instance, histogram on the Weekly chart of ES indicates a trend change. And you go Long now, why?
 
Quote from JSSPMK:


For instance, histogram on the Weekly chart of ES indicates a trend change. And you go Long now, why?
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despite weekly histo, it seems close last week put it back into rising weekly trend while also, the open this week put it above downward TL res. from prev. 3 weeks indicating a break out as i understand it. his entry was great. real question is to exit today or see how rest of month plays out...
 
Bought put spy 110 Nov 20 at 1.38
stop: all premium paid
target: play by ear

This is the first of a possible 3 lots that I will buy on spy puts

I scalped ES today and did good. I have become more interested on positions (ex: not scalping) since this "fed bubble" reached 1050 on the SPX.

I have been reading your posts and learning quite a bit about trading in a longer term. Keep up the good work! I am temporarily posting my trades here because I felt that made me more conscious and less emotional in my decisions
 
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