ES Journal Archive (2011)

[Hooti]

Quote from jack411:

for the sake of trying to be right

Perhaps it is not trying to be right, it's the opposite...
knowing that you might miss your entry by just a tick. So you have a range where you enter so as to catch the trade. This is not adding to losers, as you have a firm stop where you close out the whole trade.

 

[jack411]

Quote from Hooti:

Perhaps it is not trying to be right, it's the opposite...
knowing that you might miss your entry by just a tick. So you have a range where you enter so as to catch the trade. This is not adding to losers, as you have a firm stop where you close out the whole trade.

ah ok

that makes sense.

thanks!

 

[Macho]

Tonight/tomorrow topside is 117175 , low side 113625.

Good luck to all the shorts as the real demon is and has been the unwinding of bonds.

 

[Rashid_G.]

To all the pros here... Do you wait for reversals, or trade AT the price?

 

[anglagard]

Quote from ammo:

if you believe we will move to a certain price but the timing is difficult,you put on a partial and build a position,you add and reduce until you feel you are wrong and close it,if you were right and sold 1150 and covered at 1153,it goes to 1153.25 and drops to 1140,you lose,had you added there you win,if you enter and exit like you do as a scalper, and leave a few on ,you are scalping in and out of a larger timeframe posiition,adjusting the price as the market fluctuates ,hopefully profiting as you do it,while waiting for a move you want to catch and not be out of the market when it happens

Thank you for jumping into the discussion.

If you are unable to enter at a better price after getting stopped, I don't see why entering at a worse price, but now with additional confirmation from the market that your chosen direction is in fact correct, is a problem.

The re-entry does not have to be at a better price in order for you to make a good trade. Yes it's not the best case but between that and increased risk and increased losses, I take it.

I remained unconvinced but appreciate the discussion.

 

[Laissez Faire]

Sold 1157. 200 point stop.

 

[Macho]

Quote from Laissez Faire:

Sold 1157. 200 point stop.

This looks like a trade with some 'integrity' ,so I hope you have an opportunity to reduce your stop before the end of the year

 

[mastacoli71]

Quote from mastacoli71:

ugh, i go and get a haircut and come back to 50s! btw, cancelled my 49.5s and offering 56s one contract. will put me at 3 total. overall market still on continued downtrend so i will hold all 3 and continue to work the position for next slide.

good luck all, heading out for golf in the afternoon.

Well that was an expensive round of golf. 2 contracts short overnight, 2 1155 weekly calls short... -8pts on the day, not bad although was +20pts before going golfing.

Tomorrow = new day, fresh start. Jobs number will definitely move the market.

Funny how market closed right at/below most recent trendline. If it gets through this level, next stop 75 then 90 - even point. Below this I don't this 41, 31, and 10.

 

[mastacoli71]

Quote from JoshDance:

Why grr? Why don't you just join them and long? You keep looking for shorts, and you're missing all the good stuff in between. Each new top indicates strength, and you keep looking for weakness. Even when it does fall, you will have missed all the easy (by comparison) stuff.

EDIT: there has not been one short that has run 10 points from high to low. Look how many 10+ moves long there have been.

Seriously JoshDance, not everyone trades with the current direction. Why do you fault those that do? I don't get it. You sound just like a guy I know that talks about how easy it is to trade with the trend and how everyone should do it yet when it comes down to it, he doesn't take the trades. He doesn't make money.

Share your results instead of just giving people a hard time for fading.

Like I said before, there is more then one way to skin a cat. Everybody is wired differently.

 

[mastacoli71]

Quote from Laissez Faire:

One man`s up trend is another man`s down trend. It all depends on the time frame.

For day trading purposes, yes, the trend has been up all day, no denying that.

But on higher time frames, very much indicates that we are around a potential turning point and could trade lower from here.

So, if one is looking to capture a long-term move, one could utilize the intraday rallies and new highs to position oneself for a sell-off tomorrow. Of course, one always needs to manage risk since nothing is certain.

Less preaching, more trading.

Thanks

Well said. Thing is, trend traders will preach how much easier it is to just trade the trend. They key is preach. I never see them post actual trades.