ES Journal Archive (2011)

[eudaemon]

1331 prints. Almost comical. The joke is on me!.

 

[Rickshaw Man]

I think I might have to change my trading schedule. The US session have little movement. Seems the meaningful movement is occurring in the overnight session. Lets see what happens after 9am cst. Do we get the usual 3-4 range for 6 hours.

 

[Buy1Sell2]

Quote from volente_00:

shorting 30, 31,32,33, and 34 with stop at 40 and target of 11

My criticism of this strategy is that if 32, 33 and 34 are not tagged and the next move is big downward, then we only have a 40 percent position on for the big winner.

 

[eudaemon]

Quote from Buy1Sell2:

My criticism of this strategy is that if 32, 33 and 34 are not tagged and the next move is big downward, then we only have a 40 percent position on for the big winner.

And if it shoots to 45 in 5 minutes his loss is maximized. I don't understand why he does this, since he can pick levels sharply most of the time.

 

[Buy1Sell2]

Quote from Laissez Faire:



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?

No. As you can see, breakeven was still in the noise. I keep my stop outside the noise so that when it is hit, I know it's time to be out of the trade. That way I am not flailing around back and forth paying commission after commission only to wind up missing the move entirely. Once the stop is hit, I will not hesitate to enter the trade again if the market signals that it is wise to do so. --I am on a much larger time frame with this trade. --Not looking for a few points profit.

 

[Buy1Sell2]

Quote from eudaemon:

And if it shoots to 45 in 5 minutes his loss is maximized. I don't understand why he does this, since he can pick levels sharply most of the time.

Quite agree. He is saving a few points loss by entering higher, but you are correct that his max position will suffer the loss, while the smaller position will pick up the win. Fortunately, he does have a stop loss in place though and that's good.

 

[ammo]

Quote from Buy1Sell2:

My criticism of this strategy is that if 32, 33 and 34 are not tagged and the next move is big downward, then we only have a 40 percent position on for the big winner.

its a way to take larger risk with less cash,as opposed to never adjusting a position,you get in,like yourself,u add if it goes higher,then adjust as it comes back,being short at a better avg price,has advantage and dis advantage

 

[iloveoptions]

Quote from Buy1Sell2:

My criticism of this strategy is that if 32, 33 and 34 are not tagged and the next move is big downward, then we only have a 40 percent position on for the big winner.

I can't believe you're serious about the big move down. Seriously, What's the catalyst?

 

[atticus]

Short 1327.25. Small position in light of potential debt ceiling deal.

 

[ammo]

todays a gann cycle day,they are accurate to within 3 days,for huge moves,greek bailout is only a 3 day loan,til they re figure,nothing solved,just a thumb in the dike