ES Journal Archive (2011)

[Buy1Sell2]

If I was day trading, I would be looking long on pullbacks here. There is a short signal on the 15, but I would be looking for a trade in the direction of the 60.

 

[Laissez Faire]

Previous day`s 50% holding up well at the momet. Will scratch for a lousy 3 point profit @ 40,25

 

[SrRuthenate]

Quote from Buy1Sell2:

certainly possible. Without a signal other than the day trade/swing trade signal that is on the 60, I will stay short for now.

Obviously you do not consider open profits as part of your risk capital. I do not care one way or the other, but GeorgeC says he weeps for your children.

 

[Picaso]

Quote from Laissez Faire:

Previous day`s 50% holding up well at the momet. Will scratch for a lousy 3 point profit @ 40,25

Ouch!

Edit: ah, ok, I thought you'd bailed - very nice trade then

 

[Laissez Faire]

Quote from Picaso:

Ouch!

Never got there, my friend Still in there...

 

[Laissez Faire]

Possibly taking a pause here at the PP + 20 EMA. If that does not hold, next is 24 and possibly the previous day low as well.

37,25 locked in now. Possibly a little too tight though.

 

[Laissez Faire]

Quote from Laissez Faire:

Sold 1143,25. Stop @ 1146,25. Betting on the gap fill below.

Not unlikely that we tag the previous day high first.

EDIT: Stop now @ 45,25. May scratch if for a smaller loss/profit if we find support now.

Stopped @ 37,25.

I considered widening it to 38,25, but did not do it. Still time to get back in short if this turns out to be a retracement/bear flag.

Not seeing any long signals yet.

 

[Buy1Sell2]

Quote from SrRuthenate:

Obviously you do not consider open profits as part of your risk capital.

That is correct. I do not consider them. I place stops and make my decisions based upon what the market does. The market has no idea or concern about my net worth and what it's moves do to it. The market also could care less where someone's breakeven point is. The only time I consider risk is at the outset where I set my loss level at less than 2 percent of TLNW. I either drop my position size or increase it depending on where the market indicates to place my initial stop. --Good question.

 

[Buy1Sell2]

Quote from Laissez Faire:

Stopped @ 37,25.

I considered widening it to 38,25, but did not do it. Still time to get back in short if this turns out to be a retracement/bear flag.

Not seeing any long signals yet.

Bear flag on which time frame?

 

[volente_00]

Quote from Buy1Sell2:

That is correct. I do not consider them. I place stops and make my decisions based upon what the market does. The market has no idea or concern about my net worth and what it's moves do to it. The market also could care less where someone's breakeven point is. The only time I consider risk is at the outset where I set my loss level at less than 2 percent of TLNW. I either drop my position size or increase it depending on where the market indicates to place my initial stop. --Good question.

Do you exclude all of your trading account capital from the 2 % rule ?