ES Journal Archive (2011)
- Thread starter Buy1Sell2
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Quote from A-No1:
Your mouth runs a lot more than your profits
Sorry. It`s a bad habit
I`m a little concerned about emg`s order down there, but I`m seeing a potential long entry setting up. Maybe.
LF,
1) You made 0.5 points <b>with</b> a 6.5 MFE and a 2.0 MAE
2) You're never late or early - that's only hindsight
More important:
1) Did you go long because you saw a long or because you had been stopped out of some good shorts?
2) Did you widen your stop (triple the size you were using so far) because of your analysis or to avoid the pain of being stopped out one more time?
For what it's worth, I think that you played it well (while I sadly sat on my hands - so I take off my hat to you, Sir).
Next.
Long @ 88. Stop @ 86. Target 1193 or higher.
Is that good or bad? I`m satisfied that I managed risk and did not let it turn into a loss, although I left profits on the table.
If we did go straight to 1200, I would look like a genius, so hindsight is always 20/20
Let me clarify. If I believe that a move is already overextended, I am by definition too late to enter in that direction.
I went long because I believed the market had formed a bottom and we were due for upside movement. Prior trades did not influence me.
I widened my stop because I believed that it was technically too tight and it was still within my risk parameters
Thanks.
Nice twin reversal off the trend line. Let`s see if we can pick up some momentum now so that I can get paid
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