ES Journal Archive (2011)

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Quote from jjf:

Very good points.
I see your posted chart is 5 Min, do you use a longer one as a leading chart.

Are you constantly watching the charts ... this can lead to confusion at times, especially if you have locked onto one pattern and miss the new underlying pattern that is building ... this where a bigger than 5 min bar is very useful.

What about walking away from the screen.
For example if your lead screen is 15 mins, set an alarm to ring at say 13 mins to bring you back to the screen.

It is amazing what you will see in a glance that you may miss if you are constantly watching.

Or set the alarm to s&r line breaches if that is your style.

The main point being that you are detaching yourself from the screen when there is nothing of interest happening.

The danger of constant monitoring is that your mind will go hunting for things to do and therefore you will lead price rather than follow it.

Anyway, just a couple of thoughts.
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Excellent advice....used to do that when I used 15 minute periods years ago...set the alarm on the stove...so I had to get up and re set @14 minute intervals...

Now use broad price range bars....:p

NiN
 
Quote from Now is Now:

Excellent advice....used to do that when I used 15 minute periods years ago...set the alarm on the stove...so I had to get up and re set @14 minute intervals...

Now use broad price range bars....:p

NiN
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Yes, we need to prevent ourselves from trying to hard and just learn to relax back and let price do the work and come to us if we have positioned ourselves correctly.
If we haven't then no harm done as a buy/sell order will not trigger.

It is a lot like learning to ski.
The harder we try, the more we tense up and the more we fall down.
Only this time instead of putting bones and muscles at risk, we use money to absorb our over jealous efforts.

This is the heart of trading in my opinion ... the maths is dead simple once you decide what sort of trading style suits you..
 
now we're at 1298. Straight up since the open, and we're at heavy resistance. The smart move would be to wait for a pullback, but I don't see that happening.

I'll just wait on the sidelines and watch everybody else make money :/
 
Quote from wiesman02:



I'll just wait on the sidelines and watch everybody else make money :/
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Dont worry.
At least you haven't been shorting it and getting consistently killed like most of the morons on ET (particularly the other threads as opposed to this one)

Only people making money are 'airwaves', 'fedpeople' and the others who understand how the ES MUST move.
 
Sensible time to take profit on daytrades here at 1298 and wait for a little dip to get long and do it all over again. Rinse. Repeat.
 
Quote from candles:

Sensible time to take profit on daytrades here at 1298 and wait for a little dip to get long and do it all over again. Rinse. Repeat.
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thats assuming anybody was long, LOL
 
Quote from candles:

Dont worry.
At least you haven't been shorting it and getting consistently killed like most of the morons on ET (particularly the other threads as opposed to this one)

Only people making money are 'airwaves', 'fedpeople' and the others who understand how the ES MUST move.
More...

There are down moves that you can profit from. What's difficult is the moves happen without and sort of retracement. Straight up, straight down.

I wish the central bank would stop meddling in the markets, they ALWAYS screw things up in the end.
 
Quote from candles:

Dont worry.
At least you haven't been shorting it and getting consistently killed like most of the morons on ET (particularly the other threads as opposed to this one)

Only people making money are 'airwaves', 'fedpeople' and the others who understand how the ES MUST move.
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Just a little condescending don't you think, Candles.....really great to see people make profits regardless of their strategy...

FYI I am short @9825...not looking too swift at the moment with potential 2/3 point loss...but it is a high percentage trade...so I took it...

Either red salmon and capers or a bruised banana for lunch...

NiN

:p
 
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