ES Journal Archive (2011)

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Volente: if you're on a drop down, just follow what everyone else in the thread is doing. GUESS the direction, have tight stops and let the correct guesses run more than the stops. It's that simple. On bullish tickers, be more inclined to get out of shorts quicker, and vice versa.
 
Quote from GordonTheGekko:

Volente: if you're on a drop down, just follow what everyone else in the thread is doing. GUESS the direction, have tight stops and let the correct guesses run more than the stops. It's that simple. On bullish tickers, be more inclined to get out of shorts quicker, and vice versa.
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stops is for loser. not everybody in this thread trade with stops
 
Oh, come on everyone...

Some people average down and make money. Some don't.

Some people use stops and make money. Some don't.

Couldn't we all just make money and have mojitos?

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Forecast: "Mojitos are girlie drinks and I shall have none of that because only Bourbon is a real man's drink but you wouldn't know the difference because you're a bloody paper drinker, gulping down in your mum's basement, blah, blah, blah".

In other news: Picaso got chopped out trying to get a breakout to the upside :(
 
On 5 separate occasions we tried to break up above yesterday's high and each time sellers turned it down. First day since this run up that looks to me like sellers may have a good chance to test lower. For good measure right now the bears make sure it settles below yesterday's settle and high.
 
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