ES Journal Archive (2009 - 2010)

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Quote from Laissez Faire:

Will we test the price level at 1198 and possibly penetrate it or has a double top formed already?
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We had a previous gap at 1196.50 ES Dec that we've already filled.

We have today's gap below at 1179.25 (for a fill) or 1186.75 for a test of its edge.

However, so far we're having a strong trend day and now comes into play the 4-day weekend, so good luck making a call here :)
 
Quote from Picaso:

However, so far we're having a strong trend day and now comes into play the 4-day weekend, so good luck making a call here :)
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Yeah, I think I`ll remain firmly seated on my hands or trade in simulator for the rest of the session :)

Should we expect to see any volume/movement at all on Friday? Seems like I won`t be able to trade anyway due to the early close.
 
I think that the US fund managers have totally lost their mind. When North Korea is starting a brutal attack on the South and there is a clear danger of war - they are taking risk on.

Stupidity can not be healed by taking medicine.

Buying 500 x 1080 puts.
 
Quote from ASusilovic:

I think that the US fund managers have totally lost their mind. When North Korea is starting a brutal attack on the South and there is a clear danger of war - they are taking risk on.

Stupidity can not be healed by taking medicine.

Buying 500 x 1080 puts.
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Aren't you short oil?
 
Quote from Rashid_G.:

LF,

In my opinion, in order of tradeability... (less chop)

1. Globex (night session)
2. RTH .. Morning
3. RTH .. Afternoon ... (Root Canals frequently more pleasurable)

Having #3 as your only time to trade AFTER work stress is a bummer. Trading the hardest instrument at it's worst period.. Maybe you can at least watch the early part of the Globex? I have found some very sweet trades that persist, unlike the barb-wire the afternoon frequently is.
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Hello Rashid,

I appreciate the input. Actually, I have never really looked much at the Globex night session at all. I might be able to trade the first hour until 5 PM, but that`s all I`m afraid. My workday is long enough as it is and I`m already sleep deprived :)

I`ll look into it though. Thanks for the heads up and good trading to you!

PS: If the ES market is the "hardest" instrument to trade, are there any markets that are "easier" to trade? Liquidity is probably not a concern for me at the moment, but I do like the fact that I have never experienced slippage in this market.

Quote from NoDoji:

LF, I'd be careful not to let a few down days or frustrating times where profits all turn to b/e cause you to change a style that works in the long run. Trading ES is about trading levels, trend, S/R, channels. There are much better instruments for scalping, IMHO.
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I appreciate the input, ND, and I`m well aware of this fact, thank you for reminding me :) Even a great trader has losing streaks, it`s just very hard when those come during the first month of live trading and it`s easy to start questioning everything. I have had some excellent and well thought out trades since I started, so I believe I can pull this off if I only remain disciplined and consistent. It seems like with the ES, a big key to success is the ability to stay out of the market when nothing is going on.

However, I do have to become more flexible on my profit targets and be able to take a 0,5-0,75 point profit if I see the market is not validating my initial trade idea. Maybe that is what I should focus on, instead of actually trying to scalp.

In your humble opinion, what are the much better instruments for scalping in the afternoon? :p
 
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