ES Journal Archive (2011)

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Quote from anglagard:

Thank you for jumping into the discussion.

If you are unable to enter at a better price after getting stopped, I don't see why entering at a worse price, but now with additional confirmation from the market that your chosen direction is in fact correct, is a problem.

The re-entry does not have to be at a better price in order for you to make a good trade. Yes it's not the best case but between that and increased risk and increased losses, I take it.

I remained unconvinced but appreciate the discussion.
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let's say you think tomorrow's the top but don't want to wait for confirmation after a bad jobs number and the SP has gone down 25 points in 30 seconds. you can put some of it on now, and some on after the 8:30 number.

Yes I do think tomorrow will be the top and am debating how to play it. I don't usually like to put on my full position before that number but may do it this time. Or I may hope it's a good number and sell into the spike higher after. I don't really know NFP are tough days.
 
Quote from BoyPlunger:

let's say you think tomorrow's the top but don't want to wait for confirmation after a bad jobs number and the SP has gone down 25 points in 30 seconds. you can put some of it on now, and some on after the 8:30 number.

Yes I do think tomorrow will be the top and am debating how to play it. I don't usually like to put on my full position before that number but may do it this time. Or I may hope it's a good number and sell into the spike higher after. I don't really know NFP are tough days.
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Some long term wisdom hope you find the value of it.

Resist the temptation of predicting how tomorrow will react.

Defeat the complex of having to short the top or having to buy the bottom.

Patiently wait like a professional for bearish or bullish technical damage to obtain a good read on direction, then find your low risk entries and make your move.

Took me over a decade to do it right, that's how you do it, each and every way.

Crazy A
 
Quote from crazyAtrader:

Patiently wait like a professional for bearish or bullish technical damage to obtain a good read on direction, then find your low risk entries and make your move.

Crazy A
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This is it, this was the key for me. Letting go of needing to catch every swing, every move. Just learn to accept the setups that give you the highest chance of success, and strike when the market gives you those chances. Believe that eventually your eyes will stop deceiving you, and then for every missed opportunity, there will be 2 more to catch later.

+1000. Calmness, patience, and acceptance all the way!
 
Quote from dax3k:

Added shorts at 1160

Total 6 contracts avg 1158

STOPS above 1172

Target 1120 ish

Let's dance !
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I closed all my postions at breakeven. arghh

Will wait till there's a setup, not gonna trade this monster.

I know Goldman is watching me, I know it! Go play somewhere else.

Do you guys think in 20 years there will be a Goldman Statue next to the statue of Liberty ?
 
we came into that cleavage and chances of a pullback are strong, but the number skews it,might as well wait,in lower volatility,you could short this and ride a number against you,now just wait and take you r best setups,because of the swings your winners have to be bigger to cover your losers
 

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Quote from cooolweb:

i would not short in this market,
alreay shifted trend to bullish for october.
[this view changes as price goes on]
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State technicals please. We broke the low of current range on daily. One could argue we are still in trading range. I look at price action on daily since 9/20 high as bearish.
 
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