ES Journal Archive (2011)

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Quote from Buy1Sell2:

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.:)
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No, I don`t see that :)

I see a market that has moved 29 points against your initial entry and 51,5 points against your most favourable excursion. Hardly just noise, unless your looking for a market crash?

The idea I`m putting forth is that when we traded as low as we did and your position was already well in the green, it does not make sense to use the same stop since violating those levels above might set us up for at least a test (or possibly surpassing) the yearly highs.

Allright, in a parallel universe I`m responsible for executing your short position and this is what has happened this far:

1) When we traded almost down to 92, I locked in 4,5 points at 1310 and got stopped out for a small profit. +4,5. Should cover commissions on the next re-entry.

2) New sell orders were entered @ 14,50 just in case. We traded only down to 1315, so that 1314,50 level must be significant :)

3) I have now trailed sell orders to 24,50, already improving your execution by 10 points. If the market keeps going higher and test the yearly highs like I believe might happen, I will get you an even better execution. I will trail the sell orders well under the market.

Just a friendly experiment as I`m trying to learn and improve :) Let`s see what happens.
 
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