ES Journal Archive (2011)

[Laissez Faire]

Quote from Laissez Faire:

Good enough me thinks.

After a loss exceeding my risk limits this morning, I try again.

Long @ 1313. Stop @ 1312. Target at least 1317. Possibly higher.

My sell limit @ 1319 was filled just as I had finished preparing dinner. +6 points My biggest winner by far this far in my career. Congratulations are due Trading the open truly makes a difference.

Not only is there bigger volatility and more directional moves, but if you`re wrong on the first trade (happened today), you can usually get in and be right eventually.

Yes, maybe I should have exited @ 1317, but I did write that this was my minimum target.

1318,25 is the pivot point from yesterday`s cash session.

Yesterday`s high was @ 1318,75 (cash)/1320,75 (RTH).

1318,50 was a R10 move from the gap fill @ 1308,50 (close enough).

When we reached 1317 that fast, I decided that I was willing to get paid even more in anticipation of testing those higher levels.

I have no idea how many times I have trailed a stop or taken a premature profit out of fear and missed out on a great move.

 

[Pekelo]

Quote from wiesman02:

I thought the market had to go down in the morning ?

The market WAS down in the morning...

 

[volente_00]

Quote from volente_00:

orders to buy at

15.25

14.25

13.25

Target is 1328



3 point stop or 6.67% of my friend's 1270 short drawdown.

Out half +2



Stop moved to 1314.25


Order to sell rest at 20 as I do not think 28 will be hit this late in the day.

 

[Laissez Faire]

1317 once again a significant fulcrum point. Watch out for a rejection or acceptance here.

 

[volente_00]

Quote from Pekelo:

The market WAS down in the morning...

Down nearly 10 points before the algos hit

 

[ammo]

spy res

 

[Laissez Faire]

Long @ 1317,50. Stop @ 1316,50. Target 1320 (may settle for less, will monitor in real time).

 

[Laissez Faire]

Resistance @ 1318,25 (daily pivot from yesterday), but I trust that the pull from 1320 is stronger.

 

[wiesman02]

Quote from Pekelo:

The market WAS down in the morning...

what I meant was an extended push down off the open. Not a gap down.

 

[Pekelo]

Quote from wiesman02:

what I meant was an extended push down off the open. Not a gap down.

Apparently, it doesn't have to be.

2 hours after I posted the zig-zag comment, we are back where we were at, of course including the up-down-up-down...

P.S.: Technically it wasn't just a gap down, because we dropped 5 pts from 9:40. Not a huge move, but huge downmoves are not allowed anymore...