ES Journal Archive (2009 - 2010)

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Quote from Rashid_G.:

Had a similar trade from 1228.25 overnight, watched to 1235 and ended up with a point. Took 3 from 1227.5 to 1230.5 after probably due to the first trade nearly evaporating. A trader I know ALWAYS takes a fraction off at 1xrisk every time. Haven't learned to do it but he says it liberates him mentally AND lessens the psychological stress due to complete reversals..

A fixed target of, say 4 points sounds simplistic but having to establish targets for all out exits a pain to say the least.
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If you were to take 1,000 traders they would all have different strategies & methods. Finding a way that suits YOU is step No 1. Also, a trader normally goes through several development stages. Some only go through 1 stage :(
 
Quote from JSSPMK:

If you were to take 1,000 traders they would all have different strategies & methods. Finding a way that suits YOU is step No 1. Also, a trader normally goes through several development stages. Some only go through 1 stage :(
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Yep.. THE true sign of success is accepting the ones that don't work and moving on... I Still have losses from last year in my head..:D
 
Quote from Rashid_G.:

Had a similar trade from 1228.25 overnight, watched to 1235 and ended up with a point. Took 3 from 1227.5 to 1230.5 after probably due to the first trade nearly evaporating. A trader I know ALWAYS takes a fraction off at 1xrisk every time. Haven't learned to do it but he says it liberates him mentally AND lessens the psychological stress due to complete reversals..

A fixed target of, say 4 points sounds simplistic but having to establish targets for all out exits a pain to say the least.
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Listen to your friend...he will set you on the right track...ideally 1.5 x average risk will serve you well over time...I use this method trading 6E...

Good luck...

NiN
 
Quote from Rashid_G.:

Yep.. THE true sign of success is accepting the ones that don't work and moving on... I Still have losses from last year in my head..:D
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Just like women...cut your losses and move on....I still have losses from my previous LIFE!!!!!

NiN
 
Quote from JSSPMK:

Didn't have to be today. I don't look at R1-R4, just price levels. I know one thing 2% move intraday is quite possible & not rare. A move to 1,240 would have been below 2%.
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I went long at about 4am ET and took a loser as well... the morning looked good up until about 9:50ET when it became apparent that we were going south for a while.

Side note... what is R4? Fibs?
 
It's been 5 trading sessions in December yet look at DX volume, it's impressive. Already almost matching last May's volume! There are some big bets/hedging going on there. Makes you wonder.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=3029920>
 

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Quote from ajcrshr:

Should be an interesting auction @1pm eastern tomorrow. Yields have been trending up, larger spike today. More days like this would really make BB's lip quiver...


56 day Bill 12/08/10 25B
10 yr Note 12/08/10 21B
30 yr Bond 12/09/10 13B
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pounding continues...
 

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