ES Journal Archive (2011)
- Thread starter Buy1Sell2
- Start date
- Status
Not yet.
Euro wants to go lower.
Maybe find a bottom tomorrow or Wed.
Shorts were not allowed to exit in the afternoon I suspect afterhours might push it beyond boundaries a little bit.
Some key instruments closed very bullish, want a very good short entry or no entry at all.
FoN
Wow...110k+ cars traded at 4pm EST. Short covering, or longs getting ready for the gap up at the open tomorrow?? Hmmm...
I am so happy I was done by 11am today, this never-ending uptrend is enough to make one CRAZEE!!
I am so happy I was done by 11am today, this never-ending uptrend is enough to make one CRAZEE!!
Truer words have never been spoken, IMVHO.
The trend is our friend...
Quote from bigsnack:
FWIW, I have always had better luck by never fading the TICK ever. If we make a new high TICK that breaks the current TICK trendline, I am always looking for a pullback to buy (in this instance). Especially if we are making new highs for the day or something along those lines.
EDIT: Example.
thanks. how did you manage to buy pullbacks when it just kept going up the whole time like yesterday?
Well, let's go over your recent trades, shall we?
1. The big winner of 120 pts was actually up 200 pts, and you gave back 40% of it, or in other words, you let the market run against the position by 80 pts.
2. The current position was up first 60 pts and you let it go against you by 80 pts again, so at one point it was -20.
3. This current position was up again by 90 pts, and as we speak the market has ran against it by almost 60 pts.
4. In that small, 1 contract trade, you gave back almost half of the unrealized gains of 90 pts, when it got stopped out with 48 pts profits.
So the fact that you keep letting the market to move against your position by 60-80 pts is not exactly the best proof of your market timing ability. It just shows that in a volatile market if one can withstand adversity he
can make decent profits, not because of his timing, but because of the VOLATILITY.
I mean my congratulations for your profits, but market timer, you ain't.
Quote from Pekelo:
Well, let's go over your recent trades, shall we?
1. The big winner of 120 pts was actually up 200 pts, and you gave back 40% of it, or in other words, you let the market run against the position by 80 pts.
2. The current position was up first 60 pts and you let it go against you by 80 pts again, so at one point it was -20.
3. This current position was up again by 90 pts, and as we speak the market has ran against it by almost 60 pts.
4. In that small, 1 contract trade, you gave back almost half of the unrealized gains of 90 pts, when it got stopped out with 48 pts profits.
So the fact that you keep letting the market to move against your position by 60-80 pts is not exactly the best proof of your market timing ability. It just shows that in a volatile market if one can withstand adversity he
can make decent profits, not because of his timing, but because of the VOLATILITY.
I mean my congratulations for your profits, but market timer, you ain't.
when in doubt
almost always more profitable to scale out
Quote from volente_00:
when in doubt
almost always more profitable to scale out
You're a poet, and now we know it!!
- Status