ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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What you`re saying makes sense, NoDoji
I might decide to start testing this indicator. Thanks!Thank you for the friendly advice, Picaso, I appreciate it
I still think buying/selling-tails provide useful information, but nothing works all the time and it needs to be seen in context.
Yesterday I simply violated a lot of my principles and guidelines. Sitting on my hands is what has helped me in the past and I know that it is a very important characteristic in a good trader.
As for your question about why I moved my stop, I did so because I anticipated more downside potential (having a bearish bias and for some reason ignoring other vital stuff) and I like to trail stops when the market moves in my direction. It has worked well for me in the past.
However, if I traded rationally yesterday I would have concluded that the down move was losing momentum and my trade was only a countertrend scalp. I did lose 1 point less by moving my stop though.
Now, I`m gonna forget about yesterday for now and turn on my charts and start analyzing the markets. I have even considered a new trading rule on not being allowed to trade until 30-60 minutes have passed as to avoid impulsive trading.
Good trading to you!
Best regards,
LF
Been doing good this week with some counter trend trades, although Sun trade was actually a breakout trade. But both Mon and Tue were long trades. I guess I consider them counter trend since the day was trending down.
On CL my indicator pointed up, and ES it pointed down. So I ignored ES, and went long CL. CL went a bit against me, and I saw ES start to tank down to support.
However, ES bounced off of support, and I decided to go long it. ES hit its target 1st, so I killed CL for a profit also although I guess I could have brought stop up to BE and left the target go 2 more ticks since it would have hit, however as noted I was not watching the charts I was watching TV when I noticed it looked like the S&P went up and hit my target, and I was concerned wrongly that CL was going to reverse which it did not.
I may not trade real money on Wed since emotionally I am not sure I could handle going to Thanksgiving if I give back my profit for the week or turn it into a loss.
On CL my indicator pointed up, and ES it pointed down. So I ignored ES, and went long CL. CL went a bit against me, and I saw ES start to tank down to support.
However, ES bounced off of support, and I decided to go long it. ES hit its target 1st, so I killed CL for a profit also although I guess I could have brought stop up to BE and left the target go 2 more ticks since it would have hit, however as noted I was not watching the charts I was watching TV when I noticed it looked like the S&P went up and hit my target, and I was concerned wrongly that CL was going to reverse which it did not.
I may not trade real money on Wed since emotionally I am not sure I could handle going to Thanksgiving if I give back my profit for the week or turn it into a loss.
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