ES Journal Archive (2011)

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Quote from satchel:
long again over 21. make that 18.
Quote from satchel:
filled filled filled. tgt dead cat bounce tomorrow mid day or eod. (fib high 1254.50, prior two day high 54s) - there will be china news to navigate, definitely watching this one.
1222 session highs, who is staying up with me on this one! +4
 
Quote from FreakofNature:

I like it.

Averaging a loser? What`s to like? :)

The correct way to approach this is to add the second unit after the first unit shows a profit, which is how a winner scales into a winning trade.

With regards to the trade that was posted, I could see one entering the 1st unit at 1202,25, but then not add anything until that unit shows a profit. Alternatively, one could add the 1st unit at 1194,50 and then add the second on a rising market.

Only losers average losers. Don`t forget. :p
 
Quote from Laissez Faire:

Averaging a loser? What`s to like? :)

The correct way to approach this is to add the second unit after the first unit shows a profit, which is how a winner scales into a winning trade.

With regards to the trade that was posted, I could see one entering the 1st unit at 1202,25, but then not add anything until that unit shows a profit. Alternatively, one could add the 1st unit at 1194,50 and then add the second on a rising market.

Only losers average losers. Don`t forget. :p

When predetermined like that, isnt he scaling in the trade with predefined risk and everything?

Just saying...

FoN
 
Quote from Laissez Faire:

Averaging a loser? What`s to like? :)

The correct way to approach this is to add the second unit after the first unit shows a profit, which is how a winner scales into a winning trade.

With regards to the trade that was posted, I could see one entering the 1st unit at 1202,25, but then not add anything until that unit shows a profit. Alternatively, one could add the 1st unit at 1194,50 and then add the second on a rising market.

Only losers average losers. Don`t forget. :p

Any trade can become a loser, regardless of one's trading style. So how do you know this one will be? If I don't know the outcome, what makes you think you or any one else does?
 
Good Morning!

Gold is now sitting on the 200SMA on daily chart!
I have a short at 1218.25 since last night, but not sure how the market will react today. It seems to me that lack of a decent pullback might pull the ES lower after the open. Will hold the short for a bit
 
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