S/R Emini Journal

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Quote from 4re:

I see, This is why I like to master one or two things and trade them. But I still like to see what others are seeing as well. All part of learning. I know romik and those guys on the ES thread are good at what they do. I just don't know their set ups. Sorry for being dumb...
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Yeah, when romik mentioned it and I saw it I was "tempted" to take the trade myself ... but I don't have enough experience with the setup (even though it is using that 15min time frame:) ) to have enough trades in the ol' computer to know what my chances of winning are.

Which actually leads to another point. You (4re) has years of experience with you breakout methodology, so the trades actually almost "talk to you", saying I'm here, come get the money! - you trade technically, but there is also a "feeling" component to your trading which the other traders may or may not be getting.

I know, because I get that "feeling" when I see trend trades setting up on those multiple time frames (we had 1, 2, 3 good setups yesterday!)

It's going to take a while for anyone trading a method to get that "feeling", until you do, its paper paper paper trade (Ninja Trader has a great SIM).

... and for what it's worth (in regards to the divergent short), I think this sucker is going down to retest yesterday's lows too.

Jimmy
 
Quote from pkts:

Thanks for the additional advice yesterday 4RE,

Made a profit on your first buy. In at 1265.75, sold half for a point, sold rest for half a point. Looking back I should held the second half for the extra point but I am new to this and would rather err on the side of caution.

Thanks again! Its nice to get a profit after messing it up the first three times.

I will be keeping an eye out for the short target if the FOMC minutes are taken poorly. I also see a possible breakout to the upside between 1273-1275, maybe even up to 1276. Might take it, what do you think?

pkts
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Glad you got away with some profit anyway. Just remember you can always sim trade until you get it down. I would advise that. If I were you I would not trade the news right now. Wierd things happen and you can either make or lose a lot very fast. Be careful and don't trade haphazzardly. Good luck...

4re
 
Quote from JimmyJam:



You (4re) has years of experience with you breakout methodology, so the trades actually almost "talk to you", saying I'm here, come get the money! -


Jimmy
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Don't I wish...LOL:cool:
 
For Counter-Trend traders this is Heaven

For Trend traders, you gotta sit on your hands and stay out, otherwise you'll be cut to ribbons

(This last comment is for me more than anyone else :( , but the point can still be taken)
 
Quote from Lamont_C:

No, never got it in. If it doesn't fill on the way up, I sure don't want to take it on the way down (not interested in a 4 or 5pt stop), and given the width of the R zone here, there's not enough air to get more than a couple of points until it's worked off.

I'll check back at 1400. Otherwise, I'm done.
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Easy trade at 75.5 (just below the LOD) for 4pts . . .
 
Bounce, bounce, bounce.

So the question is did you make money?

If so, great.

If not, what did you learn?

I like to find a trend and trade it, so the first thing I learned was to make sure that all of my indicators line-up and and to not "force" a trade.

The second thing I learned was to change my R:R ratio to accurately reflect the potential of a trend.

The third thing I learned was know your system ... today was a great day for the Divergence Traders.
 

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Quote from JimmyJam:

Bounce, bounce, bounce.

So the question is did you make money?

If so, great.

If not, what did you learn?

I like to find a trend and trade it, so the first thing I learned was to make sure that all of my indicators line-up and and to not "force" a trade.

The second thing I learned was to change my R:R ratio to accurately reflect the potential of a trend.

The third thing I learned was know your system ... today was a great day for the Divergence Traders.
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Today was actually a pretty good day. I was out fairly early but the first long at 1265.75 worked 3 times and the second one at 1270.25 worked twice. I olny traded one each but with large positions.

Porgie was right when he talks about the ES trands not being there anymore. It is hard to trend trade the ES right now but it makes my method prove right more often. Just you can't get greedy. Every now and then I will go for 3 or 4 points but not often. When I do it is steak night (the good steak)at my house.

Have a good night, JJ

4re
 
Hi, I'm looking into starting to trade futures; sorry, if this is a stupid question, but is there an ask and a bid price when trading eminis, like there is with stocks?
Thanks
 
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