we are working that denoted area of price range right now and also a distribution shown in the hns making a right shoulder at the moment,we are heading for that cleavage fill at 1310-15 and then ledge of 01(an extension of the cleavage),bulls be careful,we tested the top,next the middle and then the bottom mp 101
ES Journal Archive (2011)
- Thread starter Buy1Sell2
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Bidding 1314.75 for a long with an add at 1306. If filled, asking 1332 to exit.
How low did we trade on the last dip below 1300. 1292? I believe it was.
Your trade was 22,5 points in the green.
From 1292, we traded all the way up to 1329,75. 37,75 points against your position.
According to your philosophy in the last quote, would it not be a better choice to have locked in a few points or moved the stop to breakeven and then have re-entered the short at the same or a better price?
In the event that we will test the yearly highs from here, you are giving up a lot of points and taking unnecessary risk. Who knows if we`ll exceed the yearly highs as well and go even higher.
Just thinking out loud here and trying to learn
i like 1315.50 to cover..
how dare you add to a losing trade!!!
Quote from volente_00:
how dare you add to a losing trade!!!
Well, I think people call it scaling in when you specify it before hand
FoN
Quote from Laissez Faire:
How low did we trade on the last dip below 1300. 1292? I believe it was.
Your trade was 22,5 points in the green.
From 1292, we traded all the way up to 1329,75. 37,75 points against your position.
According to your philosophy in the last quote, would it not be a better choice to have locked in a few points or moved the stop to breakeven and then have re-entered the short at the same or a better price?
In the event that we will test the yearly highs from here, you are giving up a lot of points and taking unnecessary risk. Who knows if we`ll exceed the yearly highs as well and go even higher.
Just thinking out loud here and trying to learn
Well, it went - 37.75 from the profit peak, but just -15 from his entry. However, if he's like most long term traders gunning for at least 2:1 R:R, then his stop is quite justified. Of course, all of us traders like to justify our stops by making our targets at least twice as much before we announce them to the public. Funny breed of people we are, lol
In terms of seasonality and earnings season, he's going against the grain. So unless we have some nasty news in the weeks ahead, his odds are slim that he'll achieve 110 point profit against his 56 or so point stop loss. Only time will tell...
Quote from iloveoptions:
Well, it went - 37.75 from the profit peak, but just -15 from his entry. However, if he's like most long term traders gunning for at least 2:1 R:R, then his stop is quite justified. Of course, all of us traders like to justify our stops by making our targets at least twice as much before we announce them to the public. Funny breed of people we are, lol
In terms of seasonality and earnings season, he's going against the grain. So unless we have some nasty news in the weeks ahead, his odds are slim that he'll achieve 110 point profit against his 56 or so point stop loss. Only time will tell...
You're also at the mercy of the biggest variable of all when positioning yourself for big moves...volatility. Get that wrong, and you may get stuck right in the loss zone that's between your entry and your stop for quite sometime. It can frustrate even the most seasoned trader. Or the market takes forever to achieve the targets you are anticipating if they are to ever get hit. Calculating and anticipating future vola is key IMHO.
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
stop trailed to 1324
http://online.wsj.com/mdc/public/page/2_3022-mflppg-moneyflow.html ......aapl again
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