ES Journal Archive (2011)

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Well, I was planning on going long last night around 1289.50 with a 4 point stop and no target on hopes of a deal.

Then I was watching TV, and they said even if a deal was passed, then senate would reject it, so I closed my long for 1 point profit although I could have gotten 2 points.

However, if I did hold overnight, I would have been stopped out.

Today, I placed a limit order to try to get long on a stronger pullback which never occurred so it was not filled.

I then saw a possible H&S pattern was being formed from the rejection of price at 1296. I was trying to short at 1295, and could not get filled so settled for shorting at 1294.50, and was able to get 2 points of profit today so happy.

I have been more happy lately with ES trades over CL trades. CL seems to want to spike up and down quickly, and can kill my stops in 2 min putting me into a revenge trading mind set. ES moves slower allowing more time to think, and allows me to know if I am stopped out, a good setup may be an hour away, not right after being stopped out.
 
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