ES Journal Archive (2009 - 2010)

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Quote from bigpapi:

Need a good one on countertrending too, everyone points you to the direction of the herd but hardly any book tells you to bet against trends
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I have never found one. Do you think there is a reason for that ?

I learned from trial and error and a few mentors along the way.

Most never get it because it is not about betting against the trend in the long term.

It is simply about using the shorter term trend to establish a position with the trend when the most inefficiency is there to be exploited.
That happens often on panic or extreme moves in ES and is very tradable due to mean reversion in this instrument.


In the end trading takes


Bankroll

Balls

Belief in yourself and strategy


Discipline and money management will take care of the rest.
 
Quote from FattBurger:

Yes ammo keeps the thread alive and thats what the site owner wants.

I have never understood why a trader would waste so much of his time posting on a public forum unless he had an agenda.

This guy has been shorting this uptrend for a year. I always thought when were above the 200 day the 50 day and the 20 day moving averages that meant a rising market and one should trade in that direction.

I just don't want people to get hurt.
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Nothing wrong with shorting.

I actually prefer it to going long but I learned a long time ago I can fight my A$$ off for nickels fighting the trend, or take countrend entries and trade with it for dollars.


In the end you can't be biased one way. Trading is about listening what the market is telling you and adapting from that input.
The key is to stay open minded and flexible and never fall in love with a bull or bear but date both of them depending on the situation.
 
Quote from Eko_Trader:

Counter-trend trading or investing is good, but it takes great skills
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I've noticed that when you decide to put on a counter-trend trade before the lower high or higher low have been put in (which is usually the solid reversal signal, but you're afraid you'll miss the move if you don't get in now), and you place a wide stop, the price at which you place your stop is very often the actual turning point.
 
Quote from volente_00:

95% chase


You will never buy the low or sell the top chasing with the herd.


It takes balls to pull the trigger long when sellers are piling on to a down move. But with proper risk management, that is how you make money in this game. The same goes with tops, no one wants to sell the panic short spike because of greed that it may go higher. Countertrend goes against basic human nature and that is why so many are afraid of it.
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Another word for it is fading ask Robert Weinstein.
 
Quote from volente_00:

Nothing wrong with shorting.

I actually prefer it to going long but I learned a long time ago I can fight my A$$ off for nickels fighting the trend, or take countrend entries and trade with it for dollars.


In the end you can't be biased one way. Trading is about listening what the market is telling you and adapting from that input.
The key is to stay open minded and flexible and never fall in love with a bull or bear but date both of them depending on the situation.
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Indeed
 
might of covered but we are already there,1156spx next tl, add 50,fatts,i trade tl's and mp and my imagination,if I get to my uncle point,i cover, works for me. Posted the 56 chart yesterday, line above is 66 edit avg 45.5
 
I think counter trend is a serious ego driven ailment.. For a given trend I highly doubt an equally skilled counter trader can take more than one going with the trend.. so WHY???? And don't tell me the trend can end any second, if so this all random and we need to quit immediately. Trends, up and down, and ranges are what make profitability possible in trading. The problem is so much mental corruption (bias) we can't escape from. Look at ES/NQ/YM and remove the labels (doubt you can) and give your opinion on what you should be doing, if daytrading or swing trading..

Day trading?? CLEARLY buy every support! Swingtrading?? CLEARLY the train has left and wait for a retrace to get long OR buy best intraday dip and hope the trade lives.

Of course counter-trend requires skill.... buy why? If you can't remove your bias against why not find something in which you have no bias OR don't trade?
 
Quote from Rashid_G.:

I think counter trend is a serious ego driven ailment.. For a given trend I highly doubt an equally skilled counter trader can take more than one going with the trend.. so WHY???? And don't tell me the trend can end any second, if so this all random and we need to quit immediately. Trends, up and down, and ranges are what make profitability possible in trading. The problem is so much mental corruption (bias) we can't escape from. Look at ES/NQ/YM and remove the labels (doubt you can) and give your opinion on what you should be doing, if daytrading or swing trading..

Day trading?? CLEARLY buy every support! Swingtrading?? CLEARLY the train has left and wait for a retrace to get long OR buy best intraday dip and hope the trade lives.

Of course counter-trend requires skill.... buy why? If you can't remove your bias against why not find something in which you have no bias OR don't trade?
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You have not grasped the point.

CT trading is in addition to trend trading... it is not an alternative to anything other than sitting on the sidelines whilst a pullback plays itself out... it gives you more price waves in any given period and therefore provides the highest yields.

Yes you are correct in that trading requires skill .. both T and CT
 
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