ES Journal Archive (2011)

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Quote from dadog:

Some interesting comments and opinions tonight.

The topics 'stops' and 'averaging' differ for everyone. Luckily everyone thinks differently about them. This allows the trade to occur.

A nice thing about the market is, that regardless about our differing views on certain topics, we could all make a profit on our current positions regardless of direction.

We will just take them on different time frames.

Seeing how some are critiquing vol's style and trade reminds me how it feels very lonely at times when taking the other side of the majority trade.
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Good points. Different timeframes. Different approaches. The interesting thing about trading is that there is no one correct way that works 100% of the time.

We have our own approaches, built on empirical understanding that can be translated into anything from a rigid mechanical math model to a gut feeling when we recognize a setup that "should" work. For some it is nearly science, for others it is basically art.
 
Quote from volente_00:

perhaps but my blackbox just spit out a 90% chance that 1335 will be the highest we trade before we fill the gap below. Due to this I am moving my stop to 1340 and am adding to my short all the way to 1334. If filled my avg will be ~28. As of right now it is right at 22. So throw me in the add to losers gang :)
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That's amazing. Good luck with it.
 
Quote from eng:

Long 1326.25
Target 1330.25
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Forgot to mention my stop at 1322.25. I always use a 4 point stop loss. Target was missed by a couple of ticks, but still in the trade on this pullback.
 
I don't want the thread to turn into a political discussion, so I will say this once and not follow up as you know, I only trade the charts, not the news---- The US will not default. The 14th amendment force the US to pay it's debts on time. The president has the ability to prioritize spending and so he can pay the debt first, then social security, medicare, defense etc and then he would just have to cut other things. Any president can do this at any time. --There will be no default unless the president wants to have it all on him. --Now back to trading--:)
 
07-14-11 06:19 PM

07-11-11 08:29 AM

07-08-11 07:51 AM

06-30-11 09:47 AM

Currently short the Sep ES contract at 1314.50. Stop is 1372.50
--Maintaining short here. Stop remains the same.

--Maintaining short here 7/11/11. Stop remains the same

--Maintaining short here 7/14/11. Stop remains the same (outside the noise)

--Maintaining short here 7/20/11. Stop remains the same
 
Here's the deal--The best way to trade is to use a small stop--2% or less of TLNW-- and if you get stopped out, just get back in if the market comes back your way. Some of the best trades I have made especially daytrading have been just that---Full position on, then out quickly and then right back in when the market gives a signal once again that it is going in your original direction. --Again using the small stop. That way, you have your full position on for the bigger move, but have limited losses and limited the time in the bad trade which makes you think and commiserate about how the market moved against you and causes a further wrong decision.:)


You must be able to pull the trigger again right away--You can do this by risking no more than 2% of TLNW on any one trade/idea:)

It also helps prevent the event of being stopped out only to watch the market prove that you were right initially while you sit on the sidelines.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=78975
 
Quote from Buy1Sell2:

Here's the deal--The best way to trade is to use a small stop--2% or less of TLNW-- and if you get stopped out, just get back in if the market comes back your way. Some of the best trades I have made especially daytrading have been just that---Full position on, then out quickly and then right back in when the market gives a signal once again that it is going in your original direction. --Again using the small stop. That way, you have your full position on for the bigger move, but have limited losses and limited the time in the bad trade which makes you think and commiserate about how the market moved against you and causes a further wrong decision.:)


You must be able to pull the trigger again right away--You can do this by risking no more than 2% of TLNW on any one trade/idea:)

It also helps prevent the event of being stopped out only to watch the market prove that you were right initially while you sit on the sidelines.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=78975
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Only if your edge is substantially higher than 2%.
 
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