50 pts in the ES

Discussion in 'Journals' started by TheStudent, Oct 16, 2003.

  1. dbphoenix


    The first is The Disciplined Trader, the second Trading In The Zone.
    #51     Oct 19, 2003
  2. Boomer


    i am also in the middle of his first book, and i find it to be interesting. i am currently learning the markets (in undergrad), and reading all i can. so far it seems unlike most of the other fluff books i have read. any other recomendations?
    #52     Oct 19, 2003
  3. ...for me it's a pretty short list after that:

    Schabacker, Stock Market Profits (out of the '30s, very cynical)
    Kaufman, Trading Systems and Methods (the Bible of systems)
    Farley, Master Swing Trader (veeeerrryyyy deep)
    Babcock, Guide to Trading Systems (out of print)
    Katz and McCormick, The Encyclopedia of Trading Systems (really about system development)
    Toppel, Zen in the Markets (aaaauuuuummmm).

    Phoenix will no doubt respond also.
    #53     Oct 19, 2003
  4. nkhoi

    nkhoi Moderator

    #54     Oct 19, 2003
  5. ..yah, that's it. A riot from cover to cover. Roscoe here put me onto it, and it's a treasure. Don't take my word for it, PM him. I have asked my betters here numerous "stupid" questions about mechanical system development, and guess what, Babcock gives the EXACT opposite answers. Proof positive.
    #55     Oct 19, 2003
  6. Magna

    Magna Administrator

    I ask that we stay on the topic of this thread which is TheStudent's journal of 50 pts in the ES. If someone would like to start a thread of books or where to get them please do so elsewhere. Or you might check the Trading and Resources forums where there have already been many discussions of just that topic. Thanks.
    #56     Oct 19, 2003
  7. :)

    on that note.

    S @ 1041 (10.00 EST)
    C @ 1039.25 (10.07 EST) + 1.75pt

    Looking to short again.
    #57     Oct 20, 2003
  8. B @ 1035.5 (10.35 EST)
    S @ 1030.00 (10.43 EST)

    - 0.50pt

    The weak downtick shook me out. I keyed in a market order on fear of a plunging tape.

    Wasn't strong enough - I should have placed a stop limit just below the low of 1034. That would have been a better place to put a stop.
    #58     Oct 20, 2003
  9. S @ 1039.25 (11.49 EST)
    B @ 1039.25 (1.12 EST)
    #59     Oct 20, 2003
  10. I guess the market rewards patience ... it has turned down to 1037.00 after I closed out my short at flat, 1039.25.

    My original profit target was 1037.75. It did get there, but I suppose in the afternoon session, momentum slows down and I should give the trade more time.

    I am going to spend a bit more time doing research on the ES. Will limit myself to one more trade today, if at all.

    Still think that we are headed lower.
    #60     Oct 20, 2003