ES Journal Archive (2009 - 2010)

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that 1150 trip top is acting as support, nq and djt still havent hit wed hi's, sorry ,i guess nq broke above for a second....uvol/dvol dead even.....add 47.5....avg 46.5
 
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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How many breakout traders do you know that are profitable and trade es ?

I know of zero.

Es exhibits a high level of mean reversion and a lot of back and filling. This chops breakout traders to pieces most of the time. This alone makes it a great candidate for CT traders, even biased one like ammo because it retraces quite often to force weak holders out before the next move. Given this fact, an intraday trader of ES can often make more than the trend trader will for the day due to the mean reversion and choppines of es considering it spends the majority of the time range bound and reverting back to the mean.
 
Quote from jorgez:

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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Ok I was under the impression everyone here was short most of the time.. I do have serious bias leading to CT (not the skilled kind) also.. by the way..
 
Quote from ammo:

that 1150 trip top is acting as support, nq and djt still havent hit wed hi's, sorry ,i guess nq broke above for a second....uvol/dvol dead even.....add 47.5....avg 46.5
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put interest building at 114 now


This can go 1170-1180 cash easily before a pullback


I expect at least 10 over the previous cash 52 wk high before we get a sig pullback.




How about a gap fill, and then a run to 1160 cash today
 
Quote from volente_00:

put interest building at 114 now


This can go 1170-1180 cash easily before a pullback


I expect at least 10 over the previous cash 52 wk high before we get a sig pullback.
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I'm with you. I'm looking for long set-ups even though I hate going long this crazy market. I'm also looking for long opportunities in the dollar.
 
Quote from volente_00:

put interest building at 114 now


This can go 1170-1180 cash easily before a pullback


I expect at least 10 over the previous cash 52 wk high before we get a sig pullback.
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that would give the bulls too much profit.
ES doesn't allow that motion :)
 
Quote from David M:

long @51 , stop @ BE now

edit: out 5 contracts @53.25 ... leaving 1 contract @51 stop BE

Edit2: stopped @51, went short 2 contract @52
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T1 48.50 ...
T2 open for thought.

Edit: Tightning stop
 
Quote from coolweb:

that would give the bulls too much profit.
ES doesn't allow that motion :)
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I never said they get to keep it.


If they run it to 70-80, then options say it can revert back to 113-114 very easily
 
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