ES Journal - 2017/2018

I agree with this but the op contradicts himself regularly, in general he’s not a contra trader. Best of luck.

 

Do you take real money trades off his posts?

 

I actually do on occasion.

 

Thanks.

 

Correct. Excellent posting. One caveat--trend traders will make more money over the long haul by milking winners and cutting losses short. But trading against the trend, (and the very short term trend has been down), can also be profitable. I have shown this technique to some folks I know that only have 401k holdings and can only go long without a stop. Thus ,they can only counter-trend trade in a down market. Wouldn't that be a snoozefest in 2007-2009 waiting for the bottom and not being active at all? Truth is, there was a lot of money to be made on the long side during that drop. But you had to take a large risk for smaller reward and get out relatively quickly when it went in your direction.

 

I already answered I thought.

 

You must be talking to someone whose postings I can't see I guess. Thanks for the kudos!.

 

View on the markets----I do not believe that markets turn and fall on a dime into a bear market. Could this be the beginning? --Certainly, but I rather think we'll see a move back towards highs at least once before we would establish a new long term down trend if we were to do so. So, I believe that the long term trend remains up at this moment, but I will be looking for proper signals to show that that has ended. In the meantime, I will look for buy the dip opportunities and valid shorts. One must be very careful shorting markets that have perpetual long bias.

 

Yes you did, I was replying to someone that u must have on ignore.

 

Let's take a look at the 4 hr chart of Cash from a free website. I rely heavily on the 4 hr chart in my analysis, many times using it as my entry/exit chart.