ES Journal Archive (2011)

[i_c_fed_people]

Quote from volente_00:

I like everything about your trading except the lack of patience to buy just on pullbacks and the no stop loss rule.

Quote from i_c_fed_people:

very tempted long here at 1328
Trying to be more disciplined in waiting for pullbacks, but I know that often the ES doesn't pull back and shoots off up without me, and then im left waiting for a pullback that, if it came, is still at a higher price than where i originally wanted to get in long! lol

up to 1331.5 now. Would have given me my +3.5

Now you see why i'd often rather just get in than wait for pullbacks volente, lol.
the ES doesn't like to pullback and in waiting for it, you often miss some nice easy points.

 

[i_c_fed_people]

Quote from pauk:

looking good again.
How did you know it would carry on rallying at that point?

Bulls in complete control. no reason for it to stop and go down at that point.

It takes very BAD news or something to get it to drop 20 handles, but them points are put back ON without any equally GOOD news. What does that tell you!...?....

good trading

 

[Rickshaw Man]

Quote from ammo:

djt and spx buildng right shoulder,notice down slant of djt vs upslant of spx, divirgence

Look for bullish patterns in an up-trending market, thats how you make money.

 

[Rickshaw Man]

Quote from i_c_fed_people:

Bulls in complete control. no reason for it to stop and go down at that point.

It takes very BAD news or something to get it to drop 20 handles, but them points are put back ON without any equally GOOD news. What does that tell you!...?....

good trading

A 5.00% spike in oil overnight will bring the equity market to it's knees, for a few days at least.

 

[NoDoji]

Quote from i_c_fed_people:

very tempted long here at 1328
Trying to be more disciplined in waiting for pullbacks, but I know that often the ES doesn't pull back and shoots off up without me, and then im left waiting for a pullback that, if it came, is still at a higher price than where i originally wanted to get in long! lol

I'm guessing you're a newer trader, correct me if I'm wrong. The time and price you were tempted to go long was technically solid. Price broke through and stayed above the 20-day EMA in the overnight session, and if you weren't long earlier @ 1321.25 off the open, then you had a very nice narrow range consolidation around 1328 to play off of for continuation.

You can place a very tight stop with that entry, and if price doesn't break 1329, just scratch the trade. As soon as price breaks 1329, you hold for the 1335 zone or whatever your desired profit target is.

What surprises me is when price puts in a technical pullback reversal signal and you keep going long there and hold through all those points of heat. Either go short for the pullback move (they're just as sweet and usually faster), or be patient until a trend continuation level is reached, such as support at the 20-day EMA or the trend line.

 

[candles]

I think iseeFed is a relatively new trader(assuming he's telling the truth). However, im pretty sure that he must now hold the record for number of points gained in realtime posts! lol.

 

[shakira]

Quote from kinggyppo:

what is the first rule of trading, don't fu%^in lose money, what do most new traders do lose lose lose. The paradox for all is how to risk your capital and get more back than when you started with, sounds really simple... remember your p and l is yours alone. The point of most trend following systems is to be small when you are wrong and all in when you are right. You have to figure out which system works with your risk tolerance, some have weaker stomachs than others that is ok. C fed people you crack me up, if you were using real leverage you would be very rich, also you wouldn't be making jokes about silly drops, etc. when the market tanks 40 handles. No criticism, I am just trying to get you to see what is possible maybe you need more leverage, just a thought. Good trading all.

Save your breath. Besides he knows it all at this point...and only wants/needs beer money. Let him enjoy it while it lasts...

He has very good timing with his calls...risk control he will learn eventually... maybe.

It's a bull market!.

 

[NoDoji]

Quote from shakira:

Save your breath. Besides he knows it all at this point...and only wants/needs beer money. Let him enjoy it while it lasts...

He has very good timing with his calls...risk control he will learn eventually... maybe.

It's a bull market!.

The market was in a bull run when I first started trading and every trade was profitable no matter how much heat I took. Price always came back. Always. Until the bear market started and it didn't. I think IC trades a smaller version of the contract, so the end result might not be as damaging, but the lesson being ingrained is very damaging. Learning to trade with an edge in your favor AND solid risk management protects your capital through all market environments.

 

[shakira]

Quote from NoDoji:

The market was in a bull run when I first started trading and every trade was profitable no matter how much heat I took. Price always came back. Always. Until the bear market started and it didn't. I think IC trades a smaller version of the contract, so the end result might not be as damaging, but the lesson being ingrained is very damaging. Learning to trade with an edge in your favor AND solid risk management protects your capital through all market environments.

The best thing that could happen to him would be to blow up his current small account...

 

[NoDoji]

Quote from shakira:

The best thing that could happen to him would be to blow up his current small account...

The best thing that could happen to him would be to learn to trade technically with risk management, then hold the winners for 10-30 point moves the way he holds some of those losers till they come back. He's willing to hold a trade, but he's taking small profits and holding big losers. But again, in a bull market, it will work and work and work...