ES Journal Archive (2011)
- Thread starter Buy1Sell2
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Update...been a busy morning trying to manage multiple strats outside of futures....rolled out of the 3x1100 weekly puts at a decent gain on selloff this morn and into short 1070 put....covered a contract at 79.5, also covered 1070 put when market popped through 1090, nice gain....now currently long 2 contracts and short 1x 1100 put from overnight
There is certainly still risk to the downside....1057.5 certainly is possible today, 1104.5 to the upside but 1100 is now resistance
would love to see a nice short squeeze into fridays jobs #s so will hold my current position and continue trading around it
Any takers on what the rest of the day brings?
The bulls reluctantly filled the gap and tested prior support. It seems like we may be entering chop mode before the next dynamic move.
Could we perhaps pull back all the way to the 50% level @ 78,75?
Bounce from there or perhaps sell further?
If the day low is in, I guess we could easily see 1110 by end of day?
What`s the target below if the daily lows are breached? 1050? :eek:
The bulls reluctantly filled the gap and tested prior support. It seems like we may be entering chop mode before the next dynamic move.
Could we perhaps pull back all the way to the 50% level @ 78,75?
Bounce from there or perhaps sell further?
If the day low is in, I guess we could easily see 1110 by end of day?
What`s the target below if the daily lows are breached? 1050? :eek:
Quote from Laissez Faire:
I`m not trying to impose my style of trading, but 3 points is a wide stop for a day trade in my opinion.
On those days I use very wide stops, for some reason they tend to stop me out and often on the extreme of a move just before reversing on me. That`s why I personally prefer to just get the hell out for a small loss and then rather get back in at the same or better price if stopped out prematurely.
I think one can use a tight stop on trades where one expect a key level to break, like this one. Gap fill + prior support. Actually taking out and trading far above 92, would most likely mean that we find support there.
That said, your trade is looking good this farWhat`s your target?
I did not post it, but I actually played the gap fill when we took out the morning highs. Reversed at 92, but I`m not so confident that the daily high is in, so I`m playing a tight hand
Dont worry, I didn't think you were trying to impose your style on to me
And Well done on your trade
I sometimes think of stops like a Golf handicap (not that i've ever held a gold club!)
The good players have a low handicap.
Good traders can have tight stops, as their entries are so good.
Rookies like me might need a bit more breathing room, lol.
I dont know. Like I say, nothing is set in stone and im always looking to alter and adapt things in the hope of improvement so I take your comments on board, as I do any traders who post their trades in realtime and aren't complete nut bars.
long 1 at 1084.25, target 1088.25
im comfortable with shorts in this crashy market.
Longs feel risky.
Saying that:
long here at 1081.25
4 point stop
Longs feel risky.
Saying that:
long here at 1081.25
4 point stop
Quote from Jestersofmalice:
Dont worry, I didn't think you were trying to impose your style on to me
And Well done on your trade
I sometimes think of stops like a Golf handicap (not that i've ever held a gold club!)
The good players have a low handicap.
Good traders can have tight stops, as their entries are so good.
Rookies like me might need a bit more breathing room, lol.
I dont know. Like I say, nothing is set in stone and im always looking to alter and adapt things in the hope of improvement so I take your comments on board, as I do any traders who post their trades in realtime and aren't complete nut bars.
You might be on to something there.
I`m certainly only a rookie myself and still learning, but for me I find that tight stops minimize my losses. At certain trade locations, a wide stop is needed unless one wants to get chopped and stopped. However, when entering around certain key levels such as 92, it is very easy (usually) to define the point at which the trade failed.
Nice trade
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