ES Journal Archive (2009 - 2010)

[ammo]

sh 77.........scratch

 

[BA_Trader]

Quote from kinggyppo:

recognizing that today is a trend day ( ie going in one direction all day
would save traders some money). I think most of us have a tendency to want to fade the current trend, why? cause it works sometimes. My point is don't ASSUME the mkt will turn cause you think it is overpriced/extended etc. , just thinking out loud here, good trading.

Wise.

3 trends - up down and sideways. Sideways are colored either long or short. Most of today was sideways short... 2-3 pt range. Total crap day.

We still might get a decent pop - either way or even both. The problem is that traders are so wound up and frustrated after hours of churn they are ready to shoot at anything.

 

[Trvlwanderer]

out 76.75

don't want to hold this and it lost steam

 

[oraclewizard77]

For those that think hedge funds employ lots of quants to make their 20% per year or use computer bots, you will find many that use this strategy instead:

http://www.marketwatch.com/story/se...-imperium-hedge-fund-2010-09-01?siteid=YAHOOB

Also, the only edge a bot has over you, is that it does not have emotions, it will not revenge trade.

 

[kinggyppo]

Quote from oraclewizard77:

My charts say they are bringing on the pain, market is going to fall more, nothing holding it up here but retail buyers.

retail buyers never hold the mkt up or down.

 

[Trvlwanderer]

Quote from oraclewizard77:

For those that think hedge funds employ lots of quants to make their 20% per year or use computer bots, you will find many that use this strategy instead:

http://www.marketwatch.com/story/se...-imperium-hedge-fund-2010-09-01?siteid=YAHOOB

Also, the only edge a bot has over you, is that it does not have emotions, it will not revenge trade.

I can out-revenge trade a damn bot any day I tell ya!!!!

 

[oraclewizard77]

Exactly, so that is why its falling now.

Quote from kinggyppo:

retail buyers never hold the mkt up or down.

 

[Thundershock]

The writing was all on the wall that the longs weren't going to see the pop that they had hoped for. Too many bearish items lurking for it to do so as I mentioned earlier. Just be thankful it didn't crash because it certainly had the potential to do so.

 

[pokito]

Quote from Trvlwanderer:

I can out-revenge trade a damn bot any day I tell ya!!!!

lol...... and Schiz can flip faster than the fastest bot out there...
that was a compliment btw Schiz..

 

[Trvlwanderer]

Quote from Trvlwanderer:

L 77.50
tgt 80.50
stop 75.25

Still suspect this may hit, but glad I sold early as it would have nipped my stop.

Don't know why I trade late day chop.