ES Journal Archive (2011)

[klinckphilip]

Quote from FreakofNature:

Not pointing fingers just using you as an example because you are the most recent case.

Makes me wonder why so many traders here rarely hold until their original targets. It's quite the phenomenon.

FoN

I never really had a target from the start but I saw the momentum fading and would rather take profits than hope that it goes another 3 ticks. I have no problem taking profits at 4.75pts.

 

[aquarian1]

10:26:15 SLD 1 ES false SEP11 Futures 1314.25 USD GLOBEX 2.01 null
Target 1311.75
10:47:55 BOT 1 ES false SEP11 Futures 1313.00 USD GLOBEX 2.01 null

 

[aquarian1]

Quote from klinckphilip:

Went ahead and got out at 14.25

So not a bad day so far.

good trade!

 

[ammo]

Quote from FreakofNature:

Not pointing fingers just using you as an example because you are the most recent case.

Makes me wonder why so many traders here rarely hold until their original targets. It's quite the phenomenon.

FoN

hard to do but you should'nt watch your p/l

 

[aquarian1]

The markets are dynamic.
Targets are direction and estimated distance.
When you get closer to the target the view can change.

A profit is a profit.
Bagging the bird vs chasing two and getting none.

his 4.75 pts is a plus not a minus.

 

[FreakofNature]

Quote from ammo:

hard to do but you should'nt watch your p/l

I monitor the amount of times the targets do get hit and if they got out close to it the vast majority of the times the targets do get hit.

Little ES Journal backtesting I did

FoN

 

[JSHINV]

order at this point:

entry sell stop 1305
stop 1308.75
target 1295

I reserve the right to change target, stop or cancel order at my discretion which I will post. But good chance I will not be filled.

Why such a crazy trade? Could fall off the cliff today.

 

[klinckphilip]

Quote from JSHINV:

order at this point:

entry sell stop 1305
stop 1308.75
target 1295

I reserve the right to change target, stop or cancel order at my discretion which I will post. But good chance I will not be filled.

Why such a crazy trade? Could fall off the cliff today.

Oh, sorry. Read that wrong. Yup could be a good play. We will have to see.

 

[JSHINV]

Quote from ammo:

hard to do but you should'nt watch your p/l

This is the one discipline I have not yet mastered. I know I have to.

 

[JSHINV]

Quote from klinckphilip:

Very scary to me. I would either stay out or go long. Shorting after a massive sell-off is an improbable trade. I understand the debt negotiations are today but that is priced in already.

Well if it happens fear limited to a 3.75 loss. My opinion, by the weeks end if they haven't come to terms on debt ceiling, high probability spx will fall off of cliff. Remember my "opinion."