ES Journal Archive (2009 - 2010)

Status
Not open for further replies.
Quote from ammo:

none taken, i havent been long anywhere in this B S rally,the upside is handcuffed day to day with the overbearing fundamentals we are trying to correct,so the risk of a big blowup are very low, if i was long and averaging while going down, that would be a recipe for a disaster
More...

The first problem is that you are calling this a bs rally. Who gives a fuck if it is bs or real. P/L statements really can't tell the difference.

I was once like you. I had logic and fundamentals on my side. I was screaming bloody murder when the dow was at 13,500. Then on my birthday July 12th 2007 I learned the market really didn't give a fuck. I had averaged into 20 YM contracts short. Lost 65% of my account in one day. Was I right? Yes, I knew the fundamentals were fraudulent. I knew the market was in a bubble and that real estate was set to crash. The financials were bk.... everyone knew that. What did my "brilliant foresight" get me? A massacre.

I had to learn to ignore fundamentals and listen to price. Fundamentals are for fund managers who get leaked info and have a staff of highly paid highly intelligent researchers with unlimited resources.

Don't fuck with it. Like I said they will wipe you out. One day the market will break so hard against you it won't even be your choice. Your broker will do the buying for you.

We all go through different journeys in this game. Every one who makes it deserves every penny they earn.
 
Quote from Lawrence Chan:

Waiting for 92 to print.
More...

Monday's close would be nice. If we don't get above our midpoint, u might see it. I'm flat unless I see something I really like.
 
Quote from gkramer:

The long from the open was very difficult money, hence the snake pattern. The entry was 13.50, and an add at 15 at the balance area. But the deep pullbacks with little momo was exactly why I was looking short even with strong vol going up, plus the fact that we were only up 5-6 from the open and looking very weak??? That was the bears inviting us to the party. The weak action at 17 after the HOD was my confirmation to get in. Added at 12.75 and 9.75 and 5.50. Closed out at 98 when it got weak after the HUGE volume exhaustion confirmation at the bottom.
More...

Hey, it worked for you so that's great. I would love to be able to spot fade-able monster gaps vs. the real deal. I just can't do it so I don't play the game that way. I follow my own system and that play isn't in my playbook.
 
Quote from flipflopper:

Hey, it worked for you so that's great. I would love to be able to spot fade-able monster gaps vs. the real deal. I just can't do it so I don't play the game that way. I follow my own system and that play isn't in my playbook.
More...

You're strength, flipflopper, is that you are in tune with your strengths and weaknesses. A trader w/out that will fail miserably. I, too, trade my strengths and my setups. If I don't like it, I don't take the trade. Period. Another one will come along.
 
Quote from JSSPMK:

LC, EUR 10 points away from last weeks low, having a great day today, just trading for 15-20 pips at a time
More...

Isn't that nice they give us a trend to work with?

=)
 
Quote from flipflopper:

The first problem is that you are calling this a bs rally. Who gives a fuck if it is bs or real. P/L statements really can't tell the difference.

I was once like you. I had logic and fundamentals on my side. I was screaming bloody murder when the dow was at 13,500. Then on my birthday July 12th 2007 I learned the market really didn't give a fuck. I had averaged into 20 YM contracts short. Lost 65% of my account in one day. Was I right? Yes, I knew the fundamentals were fraudulent. I knew the market was in a bubble and that real estate was set to crash. The financials were bk.... everyone knew that. What did my "brilliant foresight" get me? A massacre.

I had to learn to ignore fundamentals and listen to price. Fundamentals are for fund managers who get leaked info and have a staff of highly paid highly intelligent researchers with unlimited resources.

Don't fuck with it. Like I said they will wipe you out. One day the market will break so hard against you it won't even be your choice. Your broker will do the buying for you.

We all go through different journeys in this game. Every one who makes it deserves every penny they earn. [/QUOTE had 1 of those days in '89,short a boatload of oex puts,dow dipped 50 points, clearing firm made me cover, down 190 k in one day, 2 weeks later all those puts went out worthless,lessen learned , dont oversize your position and constantly adjust,i constantly reduce and adjust my avg price, and have a max $ position loss limit
More...
 
Status
Not open for further replies.
Back
Top