ES Journal Archive (2009 - 2010)

[Trvlwanderer]

Quote from schizo:

I wouldn't count on it. Only purpose for these sonnavabitches is to wear you down.

It's been a strong technique over the past several months.

"waft" it above res in AH and run on the open.

 

[emg]

Quote from Pekelo:

You don't make sense at all. Since you average down, a choppy market is the best for you to safely do so. And why do you care what others do big or small, as long as you can take advantage of it?

Since you don't really use a SL, choppy is the best for you. NOW you know.

u mean big trend days works well for me. roots for me!

 

[Pekelo]

Quote from Pekelo:

The point here is that an overnight gapfill lowers the probability of the RTH fill. It still could happen, but not guaranteed as much as without an overnight fill.

Today is going to be a good test of this.......I think we have a good chance of a full RTH fill.

It was a decent try, 2.5 tiny points left on the cash. What is that between friends, a crack?

But it also showed that once we had an overnight gapfill, we have to be more careful...

 

[Pekelo]

Quote from emg:

u mean...

...that you make no sense at all. For your strategy, a trending day is really bad. Sometimes I think you are our forgotten host, B1S2, well, how I don't miss him!

 

[NoDoji]

emg has gotten very strange here. emg, were you short locked limit up in wheat for days?

 

[BA_Trader]

Since emg frustrates the hell out of people here I am going to take a stab at what his method is all about.

So...

Let's assume that - when the market is making a range expansion type of move (i.e. trend day).. he can figure out the point where it is nearly impossible for the range to extend any further.

Now. The market may or may not get there. Let me restate that. Market may or may NOT get there. But if it DOES get there - there is a nearly 100% guarantee of at least one point of counter movement.

Doesn't suit my taste - but I can see how something like could work. The guy said he's been in the game for a long time....

 

[schizo]

With all due respect, I don't think that's entirely accurate. I believe emg has a pretty good read on S/R. It just so happens that he picks one way out in the frontier that's nearly impossible to reach. In case it does reach his intended target, he immediately cancels his order and chooses one that's further out.

From now on, this type of behavior will be referred to as the "emg effect".

 

[Trvlwanderer]

So today we have 2 new "effects":

The "emg effect"

and,

the "counter-Sal trade"

 

[Trvlwanderer]

Quote from Trvlwanderer:

easy to float it above 85 AH. Nice opening gap?

Floating on a gentle breeze.

Resistance? We don't respect no stinking resistance!

 

[volente_00]

Quote from BA_Trader:

Since emg frustrates the hell out of people here I am going to take a stab at what his method is all about.

So...

Let's assume that - when the market is making a range expansion type of move (i.e. trend day).. he can figure out the point where it is nearly impossible for the range to extend any further.

Now. The market may or may not get there. Let me restate that. Market may or may NOT get there. But if it DOES get there - there is a nearly 100% guarantee of at least one point of counter movement.

Doesn't suit my taste - but I can see how something like could work. The guy said he's been in the game for a long time....

He averaged down multiple times on may 6 and walked away with a profit.


Not my cup of tea but if it works for him than so be it.