S/R Emini Journal

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Quote from 4re:

I'll be long at 1307
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I don't know what I was thinking here. If I would have been looking at the chart I posted I would have and should have seen that resistance was clearly marked at 1307.75. Which turned out to be the HOD today as well. I had it marked on my charts and everything. This was a mistake that makes me mad. I don't mind being wrong but I hate being right and making stupid mistakes that make me wrong. Look at this chart that I posted last night.
 

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romik,

I figured that's what you'd be doing with your position size. This is what I do with stocks all the time when I get a really good setup but since I'm still testing the waters in futures I haven't quite had the confidence to do it yet.
 
Romik, had the price broken the red resistance line of the channel, would that be one of your all in situations? It seems to be a big level.
 
Quote from belavia:

Romik, had the price broken the red resistance line of the channel, would that be one of your all in situations? It seems to be a big level.
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red line is a divergence mark-up for my positional, not a resistance.
 
Quote from BlowFish:

Hi 4RE,

Forgive me for bringing this up again but I wondered if you might have missed my post about re-entries this morning. Over 50 posts today and its already pages back! A testament to the popularity of the thread.

http://www.elitetrader.com/vb/showthread.php?s=&postid=1181014#post1181014

Really appreciate all your hard work here and do not wish to hassle you :-)

Cheers,
Nick
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Hey Nick,
Sorry for missing your post earlier. This is probably the hardest question I have been asked in a while so I'll do the best I can to answer it.

I only use this on days where the price range keeps going above lets say a resistance level. I get my 2 points. Then it falls back below it by a couple of points and starts coming back at my original entry again. I can take a smaller position and re enter. These days usually turn into range days. I don't have any specific amount that it has to drop back below my entry before I re enter. But I usually like at least one point below so it can gather steam before busting through again. I really don't know any better way to explain it though. Sorry, I hope my answer doesn't mix you up.

Gary
 
Hi Gary,

That helps clarify thanks, it was sorta what I had assumed. I don't think its good to assume anything when it comes to trading, actually not a bad general philosophy.

I've got another tricky one (question) for you but I'll save that for later, its late here.

Cheers,
nick.
 
Quote from BlowFish:

Hi Gary,

That helps clarify thanks, it was sorta what I had assumed. I don't think its good to assume anything when it comes to trading, actually not a bad general philosophy.

I've got another tricky one (question) for you but I'll save that for later, its late here.

Cheers,
nick.
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Well hell, go ahead and post it and it will give me all night to figure out how to answer it.
 
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