ES Journal Archive (2011)

[Laissez Faire]

I should have taken a cheap exit @ 1340,50, but I found myself starting to hope as price came back to my entry point

If I were flat now, I would not be interested in entering any positions, since the action is choppy and FED is in 45 minutes.

Maybe that`s my cue to get out now, but I think I will see if I can get a better price.

Will probably grind around here until FED.

 

[Lawrence Chan]

Quote from eudaemon:

1240 bid to exit is pending. I wonder what the "bad news" will be this time around.

If we get 1320 and gap fill below in 1 go, your scenario will unfold. First leg of 50+ pts in ES is powerful enough to send it down to 1250 for a retest.

Quite interesting way to trade the way you posted here.

 

[eudaemon]

1240 old friend. Below the March lows.

I'm thrilled that you find me funny. Comedy is my life dream. I'll retire after 1240 prints, and do comedy only.

I hear that the secret to both trading and comedy is timing.

 

[Laissez Faire]

Quote from Laissez Faire:

Short @ 1341. Stop @ 1342. Targeting 1335.

Out @ 1343. -2,0.

Should have (would have, could have) taken that cheap exit I was planning to take

Next now is 1343,50, today`s 50%.

Probably best to stay out of the market leading into FED, so I`m off for something to eat. Later.

 

[Laissez Faire]

Both NQ and ES respecting the day`s mid area to the tick.

NQ pulling back some now.

 

[wiesman02]

Quote from Laissez Faire:

Out @ 1343. -2,0.

Should have (would have, could have) taken that cheap exit I was planning to take

Next now is 1343,50, today`s 50%.

Probably best to stay out of the market leading into FED, so I`m off for something to eat. Later.

your mistake was shorting support ! Yesterday mid day and at the end of the day 1341 acted as support and overnight it did. You want to take as many high probability setups as you can. WHen you're shorting support, you're asking for a loser.

 

[wiesman02]

Quote from wiesman02:

Long @1342.25
stop @1340.50


Not crazy about this long position. In fact, it looks like it might push to the downside, but I got a buy signal so I'm gonna take it :/

flat +1 tick. Waiting until FED decision as well.

 

[Laissez Faire]

Quote from wiesman02:

your mistake was shorting support ! Yesterday at the end of the day 1341 acted as support and overnight it did. You want to take as many high probability setups as you can. WHen you're shorting support, you're asking for a loser.

I`m aware

I was also aware of that level when entering the trade, but my emotions got the best of me and I rationalized that I wanted to position myself for a potential break.

However, as my journal tells me time and again, getting in early and not waiting for confirmation is losing behaviour.

I still do it from time to time. Fortunately not all the time.

 

[eudaemon]

Quote from Lawrence Chan:

If we get 1320 and gap fill below in 1 go, your scenario will unfold. First leg of 50+ pts in ES is powerful enough to send it down to 1250 for a retest.

Quite interesting way to trade the way you posted here.

Do you know the joke about Wall Street?.

It is a crooked street, with a river at one end, and a graveyard at the other, and...

you must never lose sight of the kindergarten in the middle.

 

[pauk]

Quote from eudaemon:

Do you know the joke about Wall Street?.

It is a crooked street, with a river at one end, and a graveyard at the other, and...

you must never lose sight of the kindergarten in the middle.

get long for a few weeks, bro.
Make yourself some $$$$$