ES Journal Archive (2011)

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Quote from satchel:

oh jesus with the stops already, give it a rest, you manage your account, i will manage mine. doing just fine. if i am wrong i am wrong, take the haircut and move on.
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At what price is wrong? Also, B1S2 will disregard your trade if you don't post stops :p
 
see this has been the problem with this thread for YEARS. And why I do not like to participate, then I participate for a while and then stop. Just b/c someone named B1S2 created it, in the OLD days we had the YM thread journal and people shared and bitched and life was good. who made him GOD.

swear I had this same conversation 5 years ago.

done.
 
gmst, here is another case that is similar to what happened this afternoon. Basically, we have 56.75 holding, and sellers have had several opportunities to get short. 55.50 held until 55.25 traded and then it went right back up to high. If they don't run some stops here I'd be surprised. Why? Because it's too easy to just get short here, easy money doesn't happen. But anything's possible once in a while I suppose, so who knows.

http://screencast.com/t/RM7UKNx0l
 
Quote from JoshDance:

gmst, here is another case that is similar to what happened this afternoon. Basically, we have 56.75 holding, and sellers have had several opportunities to get short. 55.50 held until 55.25 traded and then it went right back up to high. If they don't run some stops here I'd be surprised. Why? Because it's too easy to just get short here, easy money doesn't happen. But anything's possible once in a while I suppose, so who knows.

http://screencast.com/t/RM7UKNx0l
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Good illustration Josh! Indeed it broke 56.75 and went to 57.5. So, getting long around 57 when it was coming back from 55.25, would have given 1/1.5 point scalp. Thanks!
 
Quote from ammo:

if you have the time strart plotting the rth es markrt profile in a $5 graph paper notebook,do it in 1 pt increments,54..54.25...50..75,would just be one letter on a 1 point graph,a touch of 53.75 would be the box below,in six months or less you will be able to scalp several moves a day,your hand will tell you where the mrkt is going,and the tool works in any liquid market,then you can apply it to multiday time frames, i know you have the time,take a shot for $5,that hand chart will be the only lesson you need in mp
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Thanks ammo for the tip.
I will start looking at this in new year, planning to read couple of books during the holidays. Then I will come back to you with follow up clarifications. Thank you!
 
Quote from bigsnack:

I started looking at the ES in the early months of '09, and didn't trade consistently profitable until the very end of '10 into '11. It probably took me about a year to find a pattern I liked, and then almost another year to actually trust it and trade it. Even when I knew the setup worked, I spent a good amount of time "waiting for confirmation" on my actual setup, and then chasing and losing on crappy trades that didn't really match my plan. It takes time to make the right mental adjustments, and a lot of people just don't have the patience to get there before they blow out.

EDIT: One other thing is that I have looked at the same chart and chart settings for nearly the entire stretch. I never changed chart type / tick value since the very beginning. I toyed with some stuff very very briefly, but I always had the 512 tick chart up as well. I'm not saying you need to trade a 512 tick chart, but I think the consistency helped me with seeing patterns.
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Thanks for writing about your discovery process. I am still new to ES - only 2/3 months of ES trading. So, it seems I am still new to this instrument.
 
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