ES Journal Archive (2011)

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Quote from JoshDance:

Stop to 51
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I am out of this trade at 52.25, even though it was profitable, it was not managed well at all. Basically, I got lucky that I did not lose money as I moved my stop around so much. Bad timing on the entry, and too much risk for the profit I made.
 
Quote from Laissez Faire:

It appears to me that success in day trading is just as much about executing as it is about not executing.

Not every part of the day provides a good opportunity to make money. Every part of the day provides good opportunities to part you with your money if you don`t know what you`re doing though. :)

The key seems to stay out when one remains clueless and only execute when one knows beyond a doubt that one will get paid. Then one can increase frequency as one`s trading experience increases.

Are any of you guys guilty of executing when you`re not really sure the trade will pay off? Why? If so, could those trades at least be done on minimum size?

Am I right here?

Just thinking out loud here while waiting for the market to reveal it`s hand to me. :p
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never sure it will pay off,today 52 is upper res 46-47 the mean and 44 support,if you dont look beyond that, shorting 52,covering at the mean buying 44 covering at the mean should work,if thats all that your looking at,then thats the only time you should trade and have stops above and below your short and longs, just an example
 

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key is knowing which way to position yourself and have conviction in "your system and control the risk while you wait for it to play out."
 
Quote from tomahawk:

Anybody who's ever "SURE" is a fool. Highly confident, that's another story. :)
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I stand corrected. :)

Anyone thinking we may get more than the gap fill today?

EMG target? :eek:
 
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