Trading the Pivots
- Thread starter JimmyJam
- Start date
Quote from DonKee:
Beautiful S2 trade.
See previous posts for my entries and exits.
These are a lot of fun when they work out like today. Unfortunately, we have only gotten a few in the last month as opposed to the usual 1 or 2 each week.
Maybe it's back
Yeah, I saw it.
But the day isn't over yet, we're abutting R1, and I have a theory that determining trend and trading by, while using good position sizing, will achieve outsize rewards with little risk to ones trading capital.
Let's see if it works.
Best,
JJ
edit: we are on top of the Pivot, R1 is at 1313.50.
....and we just bounced clean off last weeks significant MP zone (this was the "U" contract 1305.00 to 1303.50 levels.....red line on my price charts)...........
http://www.charthub.com/images/2006/09/11/ES_317_VB_7.png
I don't think it's going to come today.
As stated previously, the early short was closed at B/E.
So you're asking yourself, if one is trading with a directional bias, and the markets tend to revert-to-their-mean approx. 67% of the time (as has been previously stated) how does one makes money trading a system like this (not necessarily this system, but a system, concept, method, like this).
You've given to me, so I give to you.
1. Follow at least one more, non-correlated market (my ZN trade this morning did very well, and I"m thinking of QM, but I don't know if it is necessary).
2. Position Sizing. Once you start figuring out this puzzle, it will be game over, you'll pretty much have completed your trading journey. After that, it's just being consistent.
Best Regards,
Jimmy
edit: i don't think it's going to happen, but if it does by 3:30pm ET, i'll pull the trigger.
