ES Journal Archive (2009 - 2010)

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With limited size of account you can buy just same limited No of contracts. Btw, my trading - and I believe any discretionary - works better in more volatile market.
If we calculate profit/loss per contract for sure it was "easier" year ago - both ways. But it does not mean that profitable discretionary trading is impossible now. Just harder.
 
Quote from fseitun:


There must be desperate traders who need to make up for their losses and will buy at current levels, with the belief that "this markets can only go up".
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My understanding is that a small number of traders with big automated programes trade more than 85% of the ES volume.

Who are the "desperate traders" you refer to
 
Quote from flipflopper:

Bots don't know much about this psychology you speak of... it's just going to go a bit over their silicone heads.

I just programmed a new bot that will go live on Monday. Here is the code:

If market open = true then
buy next bar at market;

I will have this working on a one minute time frame.
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You are right, I totally forgot about the BOTS.

If your new strategy works, will you mind sharing it?:p
 
Quote from jorgez:

My understanding is that a small number of traders with big automated programes trade more than 85% of the ES volume.

Who are the "desperate traders" you refer to
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I don't have any knowledge about such %, so I'll take your word on it.

Desperate traders can be both retail traders and hedge funds. You'd be surprised to see how stupid some HF traders are sometimes, just like any of us.

Looks like ES is marching north with no sellers in sight. Time to set up some alarms at 1104 just in case bears decide to show up. If not, you guys enjoy the weekend. No trading for me at current prices.
 
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