ES Journal Archive (2011)

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Quote from JoshDance:

Where would a 'high value' entry be for you on this? Above 74.50 I take it? The support at 75.50 was good, and just now again at 76.25, I would guess that if it's going to go up at this time, that your best entry may be 76.25 -- but I don't know how you might work it.
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High value entries occur after sufficient sell offs. At this point it would have to break 1274.50 and than hold some level. I also am looking for the volume weighted MACD to go to about -90. Sometimes this is a game of ticks. On yesterdays closing trade I took the early entry at 1278.50 only to see it get the optimal entry at 1276.25 before finally holding at 1274.50. I am more likely to make that trade on the close than in the middle of the day. However, this is an extremely bullish set up, so I c(sh)ould get more aggressive. Than, and I know this really costs me, it is the end of the week and month coming up so I don't want to do anything stupid.

One of the features of my trading style is to use limit orders and a 'target one' that gives me a BE stop. One effect of coming in early is a lot more break even trades than if you wait for the better value. So in the long run, it probably works out. But today, I have a strong feeling there is a 10+ pt move coming (test of yesterdays high) so the risk reward is pretty good no matter where you go long.
 
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