ES Journal Archive (2011)

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Quote from oraclewizard77:

I went long ES at 1314.50 with at target of 1317.50 after some TA indicators with stop below the lows. Now I know ES likes to back and fill, so had an order for another contract to go long at 1312.00.

At this point I shorted CL, it went 10 ticks in my favor and then reversed, it then went 14 ticks against me and started to come down again, and I got out with a small 6 tick loss.

ES went down to 1312.50 and seemed to want to go up, so I went long 2nd contract at 1312.50 and targeted 1314.50 to take 1 contract out. At this point CL made a double top, and to get back even plus a little I targeted 10 ticks, which I made easy, but should have really gone for 15 - 25 ticks.

So I am now positive for the day, and when ES hit 1314 and started to fall back, took 2nd contract out at 1313.50 which makes me now BE on the trade.

At this point, I am now able to bring my stop lower, and was looking to add a 2nd contract near the lows. I then targeted 1316.50 as my target. As ES hit 1316.00 and started to pullback, I got out at 1315.50 on market order with a 3 point profit for the trade and overall better profit for the day.

After making profits 5 days in a row with both Thur and Fri my best days, I am going to sim trade ES for the rest of day to prevent me from giving back profits. My thought on ES is its in a range right now with a positive bias with possible ability to break to new highs, so will be averaging into a sim trade now at 1314 and adding as it goes lower with stop below the low of the day.

I am doing better by averaging into my orders for ES with 2nd orders nearer to my stop since it seems close to impossible for me to pick the best point to go long or short on ES whereas CL its a little easier for me sometimes.
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you will always make money trading sim. U are better off not trading sim at all to contain emotion and the word IF
 
Quote from bighog:

never will dare challenge NoDoji to a CL contest but "ISH" did 4 CL trades today, -18, -13 (rats) +60, +36 :)
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Hard to resist that oily stuff :D

I like how your smallest win was twice your biggest loss. Hard to go broke with that kind of R:R.

ES is rather stuck here. So much good news, it can't sell off, so much uncertainty, it can't rally hard. Sitting right around the old trend line and the 20-day EMA.
 
Yes, ES has the FED at its back. the real question of what will happen when the FED takes the training wheels off of the recovery.

I have a nephew, a pipefitter he drives from Saginaw area, Mich to Toledo, O-HI-O back and fro everyday. A construction V8 pick-em-up truck don't ya know. Must be $800 a month in gas. Price of gas will bite regular folk if this keeps up.

I agree, CL can be fun, it also can be a slippery slope (pun intended). I have to admit, NoDoji has finally drawn me in, kicking and screaming,. but yes, i will trade it. ES, CL, 6E, 6j ..... more than 2 at a time though is a chore. But, not a real scalper so i will manage.

UPDATE: retrace actually turned into a sideways consolidation. trade in "SEGMENTS" combine that with the 20 cross and you have the bird in the hand.....the rest is up to you. :)

PAY attention: 1509 est, ES still having a hard time taking out that 1317.50 A SHORT?

Sure it is, STOP 1318.00 NO GUTS, NO Glory :cool:
 
Quote from oraclewizard77:

At this point I shorted CL, it went 10 ticks in my favor and then reversed, it then went 14 ticks against me and started to come down again, and I got out with a small 6 tick loss.
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For all the heck I give ICFed and Airwaves about only going long ES with no stops, I'm going out on a limb here with you, OW:

Do not short the CL.

Only buy the CL.

Just buy it and set a target 3 points higher.

No stops.

Just buy it.

It's designed to only go up :p :p :p
 
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