ES Journal Archive (2009 - 2010)

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Quote from Eko_Trader:

WOW! Alot of shorts are trapped!
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If you short an uptrending market, you need to be careful. On my early short I placed my stop 1 tick above 50% retracement of the move, stopped out near b/e (and pissed I didn't take some of that 4 pt run). My second short, I grabbed profits right away.

That 10:10 a.m. bar was a bear trap. Price already retraced almost the entire previous down move and any pullback is now a potential long entry. Anyone shorting that pullback needs to use a very tight stop.

I myself like to play channel line overshoots, I never diddle in the middle.
 
I f'd myself soo bad this morning, all because I'm a 1 lot (most of the time) trader. Went sh at 66, got stopped at 66.75 (too tight I know). Went sh again at 67 right before the drop. I expected it to go to at least 60 and put my cover at 60.5. Watched it drop and then slowly creep back up to my px and got out for 2 ticks:mad:

I kept expecting it to drop again and almost added to my original sh. Good thing I didn't. I would've pulled all my hair out.
 
Quote from M3peat:

I f'd myself soo bad this morning, all because I'm a 1 lot (most of the time) trader.
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Yeah me too. I'd like to trade 2 lots and scale out, but then my stop loss is usually larger than my max loss per trade that I allow.
 
Quote from NoDoji:

Yeah me too. I'd like to trade 2 lots and scale out, but then my stop loss is usually larger than my max loss per trade that I allow.
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Funny thing is, everything I read says to trade min 2 lots, just for this reason. Apparently I don't follow directions too well.
 
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