ES Journal Archive (2011)

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Quote from eudaemon:

I guess that pattern is too complicated for you to see. I understand.
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Nah, I get it. We had all the information we needed at 1:00PM to call a long at 1277 for one point profit, then a cancel order at 3:00PM due to missing entry by one tick. :eek:

You did lose me, however, back when you were explaining how someone may be arriving at their numbers with the first break of the HOD times 2 minus the HOD or something to that effect, and then followed with “sweeping algos” and “R10’s. It was that cryptic lingo I was asking clarification about, to which you then took offense. :confused:

Nonetheless, I do appreciate you and the others for responding and sharing what you did. Although it has been a bit boring around here since your pals ran off our three letter buddy with his amazing calls. :D
 
Quote from bighorn:

Nah, I get it. We had all the information we needed at 1:00PM to call a long at 1277 for one point profit, then a cancel order at 3:00PM due to missing entry by one tick. :eek:

You did lose me, however, back when you were explaining how someone may be arriving at their numbers with the first break of the HOD times 2 minus the HOD or something to that effect, and then followed with “sweeping algos” and “R10’s. It was that cryptic lingo I was asking clarification about, to which you then took offense. :confused:

Nonetheless, I do appreciate you and the others for responding and sharing what you did. Although it has been a bit boring around here since your pals ran off our three letter buddy with his amazing calls. :D
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I'm not going to tell you how or when I trade it. If you think this market is ruled by the spirit of a dead 13th century italian mathematician, you need to re-examine your beliefs. But the pattern is there and it is repetitive. I'll let you find out why.:p

It would take several trucks of monkeys like you to offend me, so don't worry about that.:D
 
Quote from eudaemon:

I'm not going to tell you how or when I trade it. If you think this market is ruled by the spirit of a dead 13th century italian mathematician, you need to re-examine your beliefs. But the pattern is there and it is repetitive. I'll let you find out why.:p

It would take several trucks of monkeys like you to offend me, so don't worry about that.:D
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Quite by chance, due to a canceled order, I have several truck loads of monkeys.
But I would not want to upset the natural rhythm of this thread.
 
Quote from Laissez Faire:

Sector ETFs are losing steam (5 in the red now), TICK is dipping below zero and we`re making lower highs.

Short @ 1281. Stop @ 1283.
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Covered @ 1279.

This short was for me such a high probability trade, that I almost switched to my live account. But since I`m on a forced break and earning my right to get back to live trading, I remained disciplined :)

When we have a clearly defined range like today, we can assume that the market will break out of the range one way or the other. The process now is to gauge the odds for either direction.

I did not believe we would go higher today, when I sat down a few hours after the open. Why?

- We tested multi-week highs @1283,50, exceeding yesterday`s high by one tick, in the pre-market, but this level was rejected and the market opened lower within the value area formed yesterday. Resistance @ 1283 was tested after market open, but did not budge.

- We had three market moving news releases before the market open and the market did not move much on the news either way.

Since we were at high levels and I did not see anything to push the market higher, I started looking for signs of a break to the downside.

When I first opened my charts around 1100 AM ET, I saw that most sector ETFs where in the green, although not very strongly.
The NYSE TICK was oscillating around zero. Both signs of a range market.

When the sectors one by one started going into the red and the NYSE TICK started dipping below zero, I was getting confident about a short. The price action also confirmed weakness (or lack of strength) when we had three lower highs in a row.

And that`s what lead me to place my short @ 1281 :)

+3 points on the trade and that`s it for the day.

In addition to my boring log I post each day, I`ll attach my sector ETF screen and the NYSE TICK.

PS: A big thanks to Brett Steenbarger, which has shared his use of sectors and TICK to gauge market strength/weakness on his great blog.

Regards,

LF
 

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Quote from eudaemon:

I'm not going to tell you how or when I trade it. If you think this market is ruled by the spirit of a dead 13th century italian mathematician, you need to re-examine your beliefs. But the pattern is there and it is repetitive. I'll let you find out why.:p

It would take several trucks of monkeys like you to offend me, so don't worry about that.:D
More...



Silly me!!!!! And here I thought it was you trying to convince me of just that. :eek:

And for the record, I do seem to recall you offered to share the formula for the asking, followed by "there are no secrets", thus my reason for asking, only now to be told by you...............oh, never mind..............back to the regular scheduled program. :D
 
Quote from jjf:

Quite by chance, due to a canceled order, I have several truck loads of monkeys.
But I would not want to upset the natural rhythm of this thread.
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I hope I am not offending here or derailing the thread; I was inquiring about how people were getting their targets for the ES that others were openly discussing and were posted here. Nothing more intended. I'll leave everyone to do their chest thumping and penis comparisons as they wish.

A great extended weekend to all.

Bighorn aka "monkey".
 
Quote from JSSPMK:

Short 1/3 1,241.5

Sl not set for now, I have to see what NQ is doing near 2,255 zone

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Another 1/3 Short 1,255.25

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Last 1/3 Short 1,266.50

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1,266.5 1/3 covered +9.25
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Last 1/3 Short again 1,272.00

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1,272 1/3 covered +10.75
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Last 1/3 Short 1,283.25
 
Quote from candles:

Dips will always be bought. It's rigged...but its great

Fedpeople - probably about 1290ish I suppose.
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Excellent trade.
I bought just after you and have closed here at 1283 for +5
Early congrats for when it hits your 1290, lol.
I love the ES!!
 
Quote from bighorn:

I was inquiring about how people were getting their targets for the ES that others were openly discussing and were posted here. Nothing more intended.
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You're welcome. I hope they are completely clear at this time 5:30 PM est.

I only offered to show you the calc to get the target(s). And only did it because at least 3 people were desperate to have it: you, pekelo, and kentraderstar (what an acronym!), and emg was so secretive...

I also explained to you volente's R10. Maybe you didn't understand that one either.

You give people what they want, and you get nothing in return except more requests, and insults. Par for the course.

Next you'll be asking how I trade it, and maybe even to fund your account...
 
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