ES Journal Archive (2011)

JoshDance · Nov 15, 2011

Quote from bigsnack:

Argh, I saw it setting up but had to drive to the 9-5.

I was wondering why you weren't long with me at 43, looked like a bigsnack setup to me.

After exiting at 47.25 for my 4 points, I should have looked to re-enter at 47.50 again, but I'm leaving in 10 minutes and kind of mentally called it a day at that point--did not want to ruin a good morning's profit by what I thought may be overtrading at the time.

Have a good one all, take care.

Picaso · Nov 15, 2011

Quote from bigsnack:

Well my (voodoo) Fib target was hit, let's see if we continue up to 61's!

So Picaso, you're telling me if I wire you 30K I will get 10M in 2 weeks when the money frees up?

Sounds like a SWEET DEAL!

Yes, my system is guaranteed or your money back

(Sorry to hear you're having problems again)

---

Kid, that's not my brother, he's my cousin and he's not a good man, better send your money to me.

Nice trade before, btw :smoking:

(I'm trying to sell my photography equipment to migrate to Sony's Nex - way lighter, better for traveling) and I'm getting all these mails from very nice people that absolutely agree with my price but want my bank details so they can speed up the transfer of the money) :mad:

bigsnack · Nov 15, 2011

Quote from Picaso:

Nice trade before, btw :smoking:

(I'm trying to sell my photography equipment to migrate to Sony's Nex - way lighter, better for traveling) and I'm getting all these mails from very nice people that absolutely agree with my price but want my bank details so they can speed up the transfer of the money)

Agreed, that long that Josh took was KILLER. Like hunting with a sniper rifle instead of a shotgun........Well maybe, I don't hunt

Picaso, if it looks like a duck, and quacks like a duck, it's probably a....

JoshDance · Nov 15, 2011

Quote from wave:

Jesse Livermore wrote:

"Whenever I have had the patience to wait for the market to arrive at what I call a Pivotal Point before I started to trade; I have always made money in my operations."

See you at 61 and change folks...

wave, good job. That being said, after you said yesterday "hold for 61" around 43, it peaked at 55 overnight, then plummeted to 34 for an overnight low. Then it came back to 53, around the time you said "61 today" and then it fell another 10 points to bottom at 42. I'm not trying to take anything away from your calls, but you were quite vague, and while you may be correct if it gets to 61, it also went quite against you. Just saying, good job, but without a time frame or range of volatility, not much risk involved in making a call :-)

What you omitted in your call are the two hardest parts of trading IMO: timing, and risk. Just to be clear, I know you know your stuff tons more than I do, I'm speaking to you as an inferior to a superior, just pointing out what I see.

wave · Nov 15, 2011

No problem Josh, always open to healthy debate and constructive criticism. Helps one mature. Where would the world be without dissenters? We must always question ourselves and our peers, it's what moves innovation forward.

Quote from JoshDance:

wave, good job. That being said, after you said yesterday "hold for 61" around 43, it peaked at 55 overnight, then plummeted to 34 for an overnight low. Then it came back to 53, around the time you said "61 today" and then it fell another 10 points to bottom at 42. I'm not trying to take anything away from your calls, but you were quite vague, and while you may be correct if it gets to 61, it also went quite against you. Just saying, good job, but without a time frame or range of volatility, not much risk involved in making a call What you omitted in your call are the two hardest parts of trading IMO: timing, and risk. Just to be clear, I know you know your stuff tons more than I do, I'm speaking to you as an inferior to a superior, just pointing out what I see.

bigsnack · Nov 15, 2011

Quote from Picaso:

LOL, I knew you would deliver after that setup!

We should stay above 56.75's if we are going to keep going higher. I added a load of contracts at 56.25's, average fill is now 55.50's. Stop to b/e, target 61's.

wave · Nov 15, 2011

on that note Josh, once we poke above 61 and change look to...Sell Mortimer, Sell..

bigsnack · Nov 15, 2011

Quote from wave:

No problem Josh, always open to healthy debate and constructive criticism. Helps one mature. Where would the world be without dissenters? We must always question ourselves and our peers, it's what moves innovation forward.

Wave, your mid-timeframe calls are pretty spot on, that's fantastic. I've been meaning to research your post history to see if you give out insight on how you reach your bias and targets.

Josh: Since we don't know the specifics of Wave's entries / exits, we can't guarantee that he weathered all of that heat. Maybe the bias gives him a direction to look for, and he waits for a setup (like me and you) to hop on. If it knocks him out, he just waits for a new setup in the same direction.

Thoughts?

wave · Nov 15, 2011

that's pretty much it bigsnack..

bigsnack · Nov 15, 2011

Quote from wave:

that's pretty much it bigsnack..

I figured as much, since it's similar to how I view the market as well. I've never been very good at having a long term bias, but I at least feel like I have a decent eye for what the market should "look like" if it wants to go down, or vice versa. If the market "looks" bullish to me, I usually skip shorts and wait for longs, etc.