ES Journal Archive (2011)
- Thread starter Buy1Sell2
- Start date
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Done for the day. Lets see how high they ramp it on tomorrows number.
Good luck all
Good luck all
Nice recovery...
NiN
Nice display of strength today! Congratulations to all you longs who got paid today 
I ended up not trading today, but I believe I was fairly in tune with the market today and read it to some extent.
Positives:
- I stopped myself from entering a short on what I thought could be a retracement. Big buying tails at lower levels, an upwards sloping TICK and lack of confirmation saved my ass.
- I then anticipated bulls lifting us higher on a close above 1300 and tried to enter a a limit long twice at successively higher levels, but did not get filled.
I did not anticipate that we would test the multi-month highs today (short of one tick), so that probably held me back from entering with a market order since we were close to daily highs. I also did not see much followthrough on the breakout, but it is obvious now that the market may rest after closing above a level before moving higher.
1300 was accepted and the market only dipped slightly below after closing above.
Negatives:
- Underestimated how far we would go for the day. Always remain flexible and do not be surprised by anything,
BECAUSE anything can happen in the market.
- I should have entered my first long with a market order.
I ended up not trading today, but I believe I was fairly in tune with the market today and read it to some extent.
Positives:
- I stopped myself from entering a short on what I thought could be a retracement. Big buying tails at lower levels, an upwards sloping TICK and lack of confirmation saved my ass.
- I then anticipated bulls lifting us higher on a close above 1300 and tried to enter a a limit long twice at successively higher levels, but did not get filled.
I did not anticipate that we would test the multi-month highs today (short of one tick), so that probably held me back from entering with a market order since we were close to daily highs. I also did not see much followthrough on the breakout, but it is obvious now that the market may rest after closing above a level before moving higher.
1300 was accepted and the market only dipped slightly below after closing above.
Negatives:
- Underestimated how far we would go for the day. Always remain flexible and do not be surprised by anything,
BECAUSE anything can happen in the market.
- I should have entered my first long with a market order.
Question: does the quote "rallying into the job report" incorporate the whole Friday trading session? Or just the news announcement spike and a selloff following that?
The previous January 7 report spiked down...and then retraced its move all the way up to the highs...and then sold off hard during the regular session...
Reason I am asking this is I've been decently well positioned since yesterday at 1298.50 and I would love to hold for a bigger move...but with the type of volatility we may be seeing today all my profits could quickly be wiped off...so not sure what to do...I'll probably close my trade and forget it...didn't like how it spiked during the announcement...
Edit: just closed it at 1305...don't like how NQ responded to the announcement...
The previous January 7 report spiked down...and then retraced its move all the way up to the highs...and then sold off hard during the regular session...
Reason I am asking this is I've been decently well positioned since yesterday at 1298.50 and I would love to hold for a bigger move...but with the type of volatility we may be seeing today all my profits could quickly be wiped off...so not sure what to do...I'll probably close my trade and forget it...didn't like how it spiked during the announcement...
Edit: just closed it at 1305...don't like how NQ responded to the announcement...
4 or 5 years
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