ES Journal Archive (2011)

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Quote from cashcarewins:

There was some discussion on that a week or two ago. There are only a couple of gaps in the last 30 years that are unfilled, and they are off extreme valuation levels, which we are not at.
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Thanks for filling me in.

Let`s see what happens.

The market is currently pausing at at the highs. Would not feel comfortable with a long right now.

A short with a tight stop might be an excellent trade right now.
 
Quote from Laissez Faire:



A short with a tight stop might be an excellent trade right now.
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If you browsed my blog, you'd know I started trading OEX options, so this might be a good level to buy a put. But I'm strictly futures now, and have been burned way too often trying to pick tops.

LOL
 
Quote from Laissez Faire:

Thanks for filling me in.

Let`s see what happens.

The market is currently pausing at at the highs. Would not feel comfortable with a long right now.

A short with a tight stop might be an excellent trade right now.
More...

why do you let your feelings dictate your trades?
I don't mean to sound arrogant, I don't know much myself, but I do see a market in an uptrend for now, so there is nothing wrong with being long now, at least until we break 1330.
 
Quote from PO:

why do you let your feelings dictate your trades?
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I think the point is that if you do not feel comfortable in a trade, you probably will not trade it well, causing unnecessary anxiety and unneeded draw downs. That is (?) the essence of the psychology component of trading.
 
Quote from PO:

why do you let your feelings dictate your trades?
I don't mean to sound arrogant, I don't know much myself, but I do see a market in an uptrend for now, so there is nothing wrong with being long now, at least until we break 1330.
More...

While history proves that I`m prone to emotional overtrading, this analysis was not based on emotions.

We`re at monthly resistance and in my opinion it is too early to tell if resistance is turning into support.

If I had got seated a little earlier, I would have been looking to enter a long @ 1330 with a stop and reverse @ 1328,50.

Right now, I simply don`t have any conviction, so I`m waiting.
 
Quote from Laissez Faire:

While history proves that I`m prone to emotional overtrading, this analysis was not based on emotions.

We`re at monthly resistance and in my opinion it is too early to tell if resistance is turning into support.

If I had got seated a little earlier, I would have been looking to enter a long @ 1330 with a stop and reverse @ 1328,50.

Right now, I simply don`t have any conviction, so I`m waiting.
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makes sense now, great.
 
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