ES Journal Archive (2011)
- Thread starter Buy1Sell2
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Quote from Visaria:
I was long at 1255 yesterday, went to 1275, didn't exit, was just stopped out on the spike down at 1251 (yeah right at the low).
I think i have done this about 5 times now, profits of 20 handles, and all vanished.
Someone HELP!!
what you are doing is not a bad strategy, you are trying to capture large multiday swings in the markets. My advise would be bring stop to b/e once you are 10-15 points in the money, so that if ES re-traces, at least you don't lose everything. Secondly, depending on the time horizon or price movement that you might be finally expecting to capture, it might be a good idea to lock in (lets say 50% of the PL) once price has moved 15-20 points or so.
Again, above advice is very context dependent, sometimes it might be advisable to even add to the position once the position has moved 20 points in your favor - basically depends on how much movement are you expecting. Do remember however, that to expect 40-60 points movement in one direction without any significant retrace although is not uncommon, is however unlikely especially in the ranged markets we are in. Hope it helps. Typically in fx, i am content to book profits once 200 pips in my favor. I think a similar move in ES would be between 20 and 25 points.
Quote from Visaria:
I was long at 1255 yesterday, went to 1275, didn't exit, was just stopped out on the spike down at 1251 (yeah right at the low)
I think i have done this about 5 times now, profits of 20 handles, and all vanished.
Someone HELP!!
Is protective stop of profit part of your plan?
If not, add it to your plan.
Not necessarily trailing stop, just milestone kind of stop will do.
Quote from hetanos:
Ammo was right after all.05.20 eastern time, ES is around 1247.50...
3 BIG pushes up since Monday points to 1230 and below.
=D
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