ES Journal Archive (2011)
- Thread starter Buy1Sell2
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There are traders in this thread that actually use 200 point stops which was the initial stop on the trade. For all purposes, the risk is now reduced to 8 points @ 1165, the point at which my trade idea would be invalidated.
A risk that I`m comfortable assuming considering my current leverage and the potential reward if the high is in and we get a trend sell day
I would prefer 59-60 to act as resistance from here
In March 2002 ES spent three 3 weeks at 1173 before breaking down and finally double bottoming 1106 in April.
Intermediate direction from open interest in my estimation won't be clear unless or until 70's are made support or resistance. So I expect a stellar rally from a cover bounce at 52.
Intermediate direction from open interest in my estimation won't be clear unless or until 70's are made support or resistance. So I expect a stellar rally from a cover bounce at 52.
Quote from Laissez Faire:
...200 point stops which was the initial stop on the trade. ... risk is now reduced to 8 points ...
A risk that I`m comfortable assuming considering ... the potential reward if the high is in and we get a trend sell day
= 1152.50 = +4.50
200 initial risk
16.50 MAE
8 open risk
+4.50 target
stop not moved when 2 ticks away from target
...
I just don't follow... I thought it was a tongue-in-cheek trade
Quote from Picaso:
= 1152.50 = +4.50
200 initial risk
16.50 MAE
8 open risk
+4.50 target
stop not moved when 2 ticks away from target
...
I just don't follow... I thought it was a tongue-in-cheek trade
I was going to do the calculation to point out the absurdity of the trade but you beat me to it.
Anyways, LF you know you can't defend the risk/reward of your initial trade so don't even try. However, your current trade makes more sense....
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