ES Journal Archive (2011)

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Quote from volente_00:

Why do you chase price?
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Reviewing my daily trades, I`m not sure if I would say that I chased price today as I had decent MFE on all my entries. My obvious royal mistake today was that I widened my stop on my long entry. A trade that was 2,75 points in my favour and that I ended up taking a 4 point loss on. That`s not trading. Normally, I at least manage my risk by taking a breakeven exit when I get that much MFE.

Actually, I even called out the double top in the making here as it happened, but I was too busy "defending" my long position to actually take a small loss and enter short instead. Wait a minute, I could have actually taken a 2 point profit and reversed, so I was not even defending a losing position. Madness.

Oh well, I finished the day well in the green, so I`m not going to lose sleep over it :)
 
Surprise. It's still a piece of rock to me. Sell a Spanish Harlem street corner imp and call the thing money.

Retest of the 40 SMA. Longer than normal rally early morning.

The close at 1257's the goal.
 
Quote from volente_00:

looking for a move to 1198-1200 from 1179-82
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We've been sort of moving in that range over the past week (1179-1200ish)

The only thing scaring me is the big 4 day wedge on the Daily - looks like we're flagging out. Mixed signals everywhere. I am only trading 1 lot.

Bryant
 
Looking at my spreadsheet a little closer, the whole thing blew out of proportion looking for value mid-April. All things being equal, if you look at the close vs. typical on a day to day basis, 1150 would be where stops are hidden if we drift bear from here. The three period average of the three day rolling pivot looks pretty-well locked at 1200. A bounce from 1150 would be steam enough. I'm playing intraday pivot bounce plays until I see volume.
 
Quote from KevinLB:

Looking at my spreadsheet a little closer, the whole thing blew out of proportion looking for value mid-April. All things being equal, if you look at the close vs. typical on a day to day basis, 1150 would be where stops are hidden if we drift bear from here. The three period average of the three day rolling pivot looks pretty-well locked at 1200. A bounce from 1150 would be steam enough. I'm playing intraday pivot bounce plays until I see volume.
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post a chart,for us dummies,a visual
 
Quote from Laissez Faire:

Reviewing my daily trades, I`m not sure if I would say that I chased price today as I had decent MFE on all my entries. My obvious royal mistake today was that I widened my stop on my long entry. A trade that was 2,75 points in my favour and that I ended up taking a 4 point loss on. That`s not trading. Normally, I at least manage my risk by taking a breakeven exit when I get that much MFE.

Actually, I even called out the double top in the making here as it happened, but I was too busy "defending" my long position to actually take a small loss and enter short instead. Wait a minute, I could have actually taken a 2 point profit and reversed, so I was not even defending a losing position. Madness.

Oh well, I finished the day well in the green, so I`m not going to lose sleep over it :)
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got excited about that break and lost my morning re shorting it ,looking for 77,and i was looking for 2010 on the upside because of uvol/dvol ratio so didn't short the bear flag tl at 2006,been in the mrkt since 78,mistakes still foil the best laid plans,no excuse covers the fact that you will always be just a human in a world of ,old school,the guys with the best info,new school,that plus the bots,shake it off,don't make any excuses other than "i will always be dumber than the smart money" and do your best tomorrow,1 trade at a time
 

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1:1 parabolic overvalue extension of typical prices at the bounce.

If this is more than just a bounce, however, bears will want to test how many stops long are there, I'ld venture to guess.

Also, on the VWAP chart, by the close it looked like prices could jump to 1219 to get a little closer to POC volume value. Driving value a little further away couldn't hurt the check book.

Some ideas.
 

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