ES Journal - 2014

Something else that's staring me in the face..Today gapped down ..before we go much lower ..would be very convenient to close that gap NOW (about 1843). Rather than have to worry about it later. A few points higher right here solves a lot of logistical problems down the road. "That" and everything else I'v said..adds up for me

 

none of that stuff you just said should be in your head, market has a lot of noise,think an eagle 2000 feet up viewing the ocean(seeing clearly, no noise/distractions, one goal), think it sees a fish and drops 500 ft,500 more 500 more zeroes in ,drops,scoops eats for the day...in otherwords that eagle doesnt spend his stored energy,your ttading acct, messing around with maybe's, keeps you from overtrading,it's easy to make money, the hard part is not giving it back, new traders tend to get up for the day and then give it back think it's free/house money,that will drain an acct, you need to be like that eagle, scoop some money, eat for the day , and wait for another sure thing,boring but you will slowly build up the acct and that will compound over time as you learn to fish successfully, and more importantly , learn when not to fish and expend stored acct balance..as a baby eagle, new trader ,you are the prey right now and need to not be a meal

 

I'm trying to understand...

1) The SP 500 index is comprised of 500 constituents in no less than 10 sectors
2) You are placing ES trades based on 3 constituents.
3) 2 of the 3 constituents are in the top 10 weightings of the index
4) As a group, the 3 constituents comprise approximately 5% of the index weightings.
5) All 3 of the constituents are classified in one sector: technology

Am I missing something?

 

ES is composed of three constituents? Doesn't ES track the S&P??

 

Thank you for answering my question.
Trade on.

 

these are my thoughts...put me at helm..i'll fill all gaps and retest all highs...because i want to drop this hard over next few weeks...and i don't want any whiners on CNBC about "gaps" etc





that's way i think

 

paul tudor jones quote
"The most important rule of trading is to play great defense, not great offense. Every day I assume every position I have is wrong. I know where my stop risk points are going to be. I do that so I can define my maximum possible drawdown. Hopefully, I spend the rest of the day enjoying positions that are going my direction. If they are going against me, then I have a game plan for getting out.

Don’t be a hero. Don’t have an ego. Always question yourself and your ability. Don’t ever feel that you are very good. The second you do, you are dead. My biggest hits have always come after I have had a great period and I started to think that I knew something."

Assume your always wrong, don't defend what you know to people on a mssg board,whether you know more or less, there is always more to learn,you won;t learn it by defending your ego, you are going to have to learn to kill that ego, it's all noise,and stands in your way on every trade

 

a lot of small hns patterns forming in es

 

exit long 1838.50 short 183850

 

The market doesn't give a flying pitooty what you or I or he or she or we or they think.