Exited at 34 +63 handles from 71.x
Will reload long below 1310 whenever it happens.
NAD
Will reload long below 1310 whenever it happens.
NAD
ES Journal Archive (2011)
- Thread starter Buy1Sell2
- Start date
- Status
Long @ 1330. Stop & Reverse @ 1328,50.
Target 1334-36.
Target 1334-36.
BGT 3000 Target 3275
Will ADD, if necessary
NiN
Will ADD, if necessary
NiN
Andrew Lo, perhaps?
I was recommended a few papers from him way back, but have not gotten to read them yet =) I remember passing on a link to one of my academic friends who needed "proof"
http://en.wikipedia.org/wiki/Andrew_Lo
According to what was discussed yesterday, a buy stop @ 31, one tick above these two last 5-minute bars, would let momentum carry you into a trade.
It`s not always the best thing to do in the ES though, since it usually retraces.
It`s not always the best thing to do in the ES though, since it usually retraces.
30,25 locked in.
Still gunning for the daily highs while managing risk =)
3275 hit but no cigar;yet
STOP 3000 b/e
NiN
Quote from cooolweb:
One of the obvious mistakes in your trading is , you are annotating everything.took a quick look at your annotations, and it was just close to random price action from a gapdown.
The unrandom parts was left un-annotated, believe it or not
Example #1: breakout following breakout with tests of stops,
How are you going to risk manage with all these tests of stops?
a. The test of stops can happen or it can not happen, where will you risk manage?
b. If you put your stop at the low of the LOWS, you can probably get stopped out mainly because of lack of information of larger trend.
c. If you put your stop at breakout, you would be stopped out, because it dips farther then breakout.,
d. Trading breakouts in general is risky business because of the dumb money focusing on it. (it wasn't a breakout either)
e. What you traded wasn't a breakout, it was a gapfill) because of lower lows. So your theory of breakouts wouldn't even apply.
Theres way too many "if this happens then it could be this , but it could also be this " in your charts, its equivalent to GAMBLING.
I hope you meant that one of my mistakes was that my chart was not enough annotated by far? The original chart I saved from that day were filled with notes, I barely wrote anything in the chart that I posted. The chart I posted was saved for other references and not intended for you specifically. It merely illustrated one simple concept of getting stopped into a trade.
Which of the parts was unrandom and which were random?
I understand your questions, but everything is about context.
The trade I "took" was a momentum breakout with the gap fill as a target. I reasoned that my risk on such an entry would be low since I did not expect price to retrace much beyond my entry if we were to get the gap fill by the end of the day. Price did retrace to my entry level, but not even one tick in the red.
The breakout of the swing high is a little more tricky and I would expect price to retrace a little more there.
Most of the times in the ES, it is best to enter on a breakout pullback as was the case there. Fake breakouts are common and the ES will usually give you a second chance if it is a real breakout.
I really don`t understand nor care about what you are saying when you refer to the stuff on my chart as crap. Just because you don`t understand it, does not mean it`s not valuable to me. 50% gap fills are excellent targets when we have huge gaps. Globex high and lows are also important references.
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