ES Journal Archive (2009 - 2010)

[Lawrence Chan]

Quote from JSSPMK:

Tricky one, sure is a patience tester.

Weekly looks very extended. Daily chart points to a possible breakout, perhaps a headfake.

ImPO one can short all Daily bearish hammers & have stops few pips above bar's Hi. Reward will offset losses.

Posted else where that the original sell bias is gone and turned into breakout (lower high, higher low in 4-hour).

Not sure which way is next.

 

[jjj1000]

Quote from jjj1000:

the dollar index future nybot looks like made a "floor" on 75.00 - at least for today, imho

Not!!

 

[Pholeuon]

Short 1111.75 stop 1122, target 1100,
swing.

 

[riskaddict]

Quote from Pholeuon:

Short 1111.75 stop 1122, target 1100,
swing.

that seems pretty ballsy what signal did you receive? I'm looking to get short at 1124-1127. Are you expecting some crazy action between 3 and 4 like last friday?

 

[pokito]

Quote from riskaddict:

that seems pretty ballsy what signal did you receive? I'm looking to get short at 1124-1127. Are you expecting some crazy action between 3 and 4 like last friday?

Cramer just said "buy buy buy" - that could be a sell signal.

 

[riskaddict]

I hate Cramer as much as the next guy but he just mentioned the retail investors "dumb money" (my words not his) coming back into equities and etfs. If this is true it makes me think we do rally into Christmas time and then towards the end of Q1 2010 the Joe Schmo gets crushed once again!!

 

[JSSPMK]

Quote from Lawrence Chan:

Posted else where that the original sell bias is gone and turned into breakout (lower high, higher low in 4-hour).

Not sure which way is next.

It would be great to know that, most important to be able to control 50/50 scenario.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2641569>

 

[Pholeuon]

Quote from riskaddict:

No, looking at charts this trade looks very safe to me. It can go against me but chance that I will be not able go out at breakeven is after my opinion very low - such situation did not happened several years. In fact I have there no stop, I wrote one just follow journal rules. I am afraid that it can run away from me and I did not like to chase therefore I am prepared for some heat.
Target is just approximately.

that seems pretty ballsy what signal did you receive? I'm looking to get short at 1124-1127. Are you expecting some crazy action between 3 and 4 like last friday?

 

[kinggyppo]

I have posted this before this is for newer traders who have never been on the floor. Explains the auction process rather well and how price can move up on lighter volume, watch the first 20-30 minutes. scroll to "jpj follow up discussion"

http://portal.knowledgebase.net/display/2n/articleDirect/index.asp?aid=305237&r=0.1057093

 

[Lawrence Chan]

JSS,

One thing the chart is not telling is that whether the politicians in Europe want to keep their seats or not in coming elections.

I assume they do want their seats so no EURUSD 1.5 or higher is not allowed. =)

Edit: I mean "is not"