ES Journal Archive (2011)

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To add a bit more to ammo's already sound comments regarding averaging; No one knows were the high or low is going to come in. That is why a swing trader must allow a decent amount of room ( measured by the volatility of the market, risk tolerance of the trader,as well as account size) for two reasons: One, the swing trader will be able to withstand the games and the noise that mm like to play to shake out the weak players, and two, it allows that trader to smartly position themselves inside that wide range that was previously determined, before the market reaches the stop.

The odds are higher that the scalper gets their stops eaten many times more, with a whole lot of frustration, before the market reaches the swing trader's stop. Additionally, a good swing trader can add as well as reduce within this predefined range, and still come out even or better than your typical scalper, with much less stress.
 
Quote from iloveoptions:

To add a bit more to ammo's already sound comments regarding averaging; No one knows were the high or low is going to come in. That is why a swing trader must allow a decent amount of room ( measured by the volatility of the market, risk tolerance of the trader,as well as account size) for two reasons: One, the swing trader will be able to withstand the games and the noise that mm like to play to shake out the weak players, and two, it allows that trader to smartly position themselves inside that wide range that was previously determined, before the market reaches the stop.

The odds are higher that the scalper gets their stops eaten many times more, with a whole lot of frustration, before the market reaches the swing trader's stop. Additionally, a good swing trader can add as well as reduce within this predefined range, and still come out even or better than your typical scalper, with much less stress.
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And that is where I come in the middle somewhere...my posted trades are from what I term as "extremes'. It is very rare that I trade these naked as they are,essentially, sell/buy and reverse from an existing position.

Those positions are not posted simply because there is some chop to establish a "runner" and my focus is on the trade,whereas the "extreme" trade is a set level of entry and ultimate stop , if necessary ( pun intended:D )

ILO ,I still use the same allocation methods, but leverage lower, I was using a couple years ago and all is well:cool:

NiN
 
Quote from tomahawk:

Wish you luck on this one vol. I agree with LC's analysis of the daily TL b/o re-test. Also the supp. @ yesterday's low was a perfect 62% of the last upswing.

The 10.25-21.25 R10 retraced 4.00, which in my book is sufficient to move on to the next one. That being said, you'll probably get an EOD (or A.H.) reversion to at least your b/e.
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I'm still mega bearish here at 24 ES which was candle low on the daily of last top and 27-28 cash ~ 50% retrace of the last major move
 
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