Gotta love ZERO RISK in the SP500 = $$$

[volente_00]

Shorted 2611.25 and 2611.5
Stop 2620.5
Objectives

2595
2581

Looks like I should had kept this one

 

[nickynoes]

Staying long here. Looking for a nice bounce and continuation of uptrend.

Dont you feel you have been a bit bull blinded these past few days? Why are you so focused on only going long?

Looks like I should had kept this one

Dont worry I caught that one for us

 

[volente_00]

volente, I'm trying to make sure I understand what you are saying:

"Shorted 2611.25 and 2611.5
Stop 2620.5
Objectives

2595
2581"


So you shorted ES (nearest term future) at ~2611. You've got a stop sale in if hits 2620.5 to cover to minimize losses if the trade goes against you. Your objectives are 2595 and 2981, so if it hits 2595 you might cover there, or depending on the circumstances at that time you might instead shoot for covering at 2581. Is that right?

"Flat 2608" - what does this mean are you saying you are basically flat from where you opened your position - 2611 down to 2608? Or are you getting at something else? Thanks.

Objectives are targets where I will reduce some of the trade at
Flat means I covered the position

 

[Buy1Sell2]

Dont you feel you have been a bit bull blinded these past few days? Why are you so focused on only going long?



Dont worry I caught that one for us

I think I have made very responsible trades and will be net positive in a big way over time like I always have been.

 

[Buy1Sell2]

Objectives are targets where I will reduce some of the trade at
Flat means I covered the position

Reducing earlier kept the profit smaller than it could have been.

 

[Buy1Sell2]

Good trading though in general Mr Texas.

 

[volente_00]

Thanks nickynoes. So why would volente close his position at 2608, when that was not his target and it was below his stop? Maybe he saw something in the market that made him change his mind?

Because on the 15 min chart I noticed that 2577 is a short term support and even though I have 2612 as a resistance the left shoulder is there on longer term chart so the possibility exist for us to run up to 2638-42 before heading down much lower.
Since my stop is inside this possible move I decided to take the quick profit and wait to see if my higher short materializes. Of course it then proceeds to drop 15 more points after I cover but that's just part of trading.

 

[nickynoes]

I think I have made very responsible trades and will be net positive in a big way over time like I always have been.

I dont doubt that, I am still interested to hear why are you so bent on going long when the market is this choppy and there are great opportunities in both directions.

 

[volente_00]

Reducing earlier kept the profit smaller than it could have been.

And does the same for losses when wrong

 

[Buy1Sell2]

I dont doubt that, I am still interested to hear why are you so bent on going long when the market is this choppy and there are great opportunities in both directions.

I only trade with bias and right now I am biased long. This is because I trend trade. I will take losses in order to have extended gains when right. It's not something most folks are interested in. What you will get from me is honesty.