ES Journal Archive (2009 - 2010)

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I think for me to 'meet my maker' there'd need to be a huge terrorist attack or something.
I was long through the credit crunch when banks were going under left, right and centre, and still came out alive! lol
That in itself is a once in a lifetime event in my eyes.

I know its possible that something huge could happen one day, but hopefully id have built up a huge buffer of profits by that point (if it arrives)

Thats basically my philosophy for ES trading, rightly or wrongly.
 
No, it is not correctly. it should be 18.25x3 as minimum (2 adds on).

Averaging needs very well tested and clever system and strict rules,
do it after "guts" is way to hell, sooner or later.

We are again sitting at channel resistance, we need break it.
And bellow breakeven there will be 100 SMA resistance. I will be not very happy with this. oK, we will return there, just when?

Quote from Picaso:

Yes, I know, but isn't it 18.25 x 2 = 36.50? (Just asking, I'm not sure I understand correctly)
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Three potential H&S right shoulders forming now on DJI -

Monthly since 98.
Weekly since Jan 10.
Daily since July 10.

Eliades says long term cycle turn end of Aug/ first part of Sept.

Maybe nothing. Just FYI.
 
It is one of rare ocassions, when resistance on time based and not time based bars is the same. If we will not break it we will see 70 quickly.

Longer terms (weeks-month) it looks to me that we need test the bottom above 1000 prior any significant upside.

Quote from Eko_Trader:

Random stuff. Resistance line is at 97.50
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Quote from Airwaves:

I think for me to 'meet my maker' there'd need to be a huge terrorist attack or something.
I was long through the credit crunch when banks were going under left, right and centre, and still came out alive! lol
That in itself is a once in a lifetime event in my eyes.

I know its possible that something huge could happen one day, but hopefully id have built up a huge buffer of profits by that point (if it arrives)

Thats basically my philosophy for ES trading, rightly or wrongly.
More...

The point isn't so much your survival, I mean you know what you can withstand and where your uncle point is, but you held (and added to) a long position through a nearly 60 pt move to the downside instead of extracting profits from that move. Why not short when the market was so overbought and double-toppy and average into a larger position as price broke down, then taken profits when the market became very oversold? Much larger profits that way, since you're into swing trading. Day trading, who cares, take whatever you can get

:D
 
Quote from Pholeuon:

It is one of rare ocassions, when resistance on time based and not time based bars is the same. If we will not break it we will see 70 quickly.

Longer terms (weeks-month) it looks to me that we need test the bottom above 1000 prior any significant upside.
More...

We break that to the upside and Sal's 1115 comes to fruition.
 
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