ES Journal Archive (2011)

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Quote from satchel:

wtg gmst.
my style is hours pass either in a trade or waiting for a setup, then strike... 1 or 2 or 3 trades a day.

the longer you wait the more firepower you will have at the most Opportune moment and the less psychology you battle.

and now back to getting to 1230s and weekly pivot area :D possible within couple hours into overnight session - will take half off if not all, the overnight session and eurusd looks volatile up.
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well said. In my experience developing an edge/trading-setup is easier than sitting patiently waiting for that opportune moment to come to strike.
 
Quote from gmst:

well said. In my experience developing an edge/trading-setup is easier than sitting patiently waiting for that opportune moment to come to strike.
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Yes but unfortunately we can't will the market to move in our direction (trust me, I just tried when it was at 45.75! :) ) ... waiting is the hardest part, and when I wait, I win, and when I am impatient as I was today, I lose. An edge or trading setup is only valid if the market is moving, and for much of the time it is relatively sideways.
 
Quote from JoshDance:

Yes but unfortunately we can't will the market to move in our direction (trust me, I just tried when it was at 45.75! :) ) ... waiting is the hardest part, and when I wait, I win, and when I am impatient as I was today, I lose. An edge or trading setup is only valid if the market is moving, and for much of the time it is relatively sideways.
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http://www.youtube.com/watch?v=uMyCa35_mOg
 
I am looking at long unless we break 1200. At that point, I will reassess. As always, using stops that risk no more than 2% of Total Liquid Net Worth (TLNW) on any one trade/idea. This is the mother's milk of trading-- money/risk management--:)
 
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