ES Journal - 2017/2018

Discussion in 'Journals' started by Buy1Sell2, Dec 23, 2016.

  1. big mac

    big mac

    Can I ask you a question...why hold here thru weekend. why roll the dice? how much lower you looking for, and at what risk?

    do you expect 2250 or lower?

    we could gap right past your stop Monday.

    You were right, take profit, lets see where Monday opens?

    trying to understand your reasoning here?
    #81     Jan 6, 2017
  2. big mac

    big mac

    is this a daytrade or not? does a daytrade last 3 days?

    assuming you changed your mind didn't inform rest of us..

    3 in the bag, what's the upside holding tru weekend?

    you expect a 2050 gap??
    Last edited: Jan 6, 2017
    #82     Jan 6, 2017
  3. pinabetal


    perhaps you best make haste and get an edge. PRM only isn't working too good.
    #83     Jan 7, 2017
  4. ET2017


    IMO a first touch on upper BB in many cases is usually a breakout point with a lot of momentum and it doesn't often roll over right away, which might take days or weeks to do so regardless of overbought/extremely overbought conditions. Please notes that it's not the same with first touching on lower BB because market has never been fair to bears.
    #84     Jan 7, 2017
  5. ET2017


    My 2 cents tell me that his short position is quite safe with swing signals showing bearish Monday/Tuesday. Beyond that, short-term signals are still with bulls for now.
    #85     Jan 7, 2017


    I don't quite understand what B1 is doing with this trade, he used to be a hardcore follower of trends and as far as I'm aware he would only take signals in line with the dominant trend. There's no reference point to the left of the chart, so breakout is more likely IMO. Can price substantially retrace next week? Anything is possible, but there's no parabolic action to suggest it's likelihood of taking place and as we know stock indexes need two to several attempts on most occasions to put in an intermediate top. So IMHO this trade is not too likely to end up being a winner. At the same time I wouldn't be long here, my preference is to await a retracement to get long.
    Last edited: Jan 7, 2017
    #86     Jan 7, 2017
  7. algofy


    Kinda dick comment.
    #87     Jan 7, 2017
  8. pinabetal


    Well he is the one who said the ONLY EDGE IS PRUDENT RISK MANAGEMENT. So, in this thread he has taken 5 trades. Four are losers. 1 point, 2 point, 3.5 points, 30.25 points. Zero winners. He has a 5th trade open. The above is neither an edge (which he doesn't believe exists other than PRM) nor is it PRM. To lose over 30 points on one trade in ES intraday is not least in my books. Hence my comment he should make haste and find an edge. Plus in his comments in this thread he is talking probability in terms of what price may, or may not do, so in effect he is talking about an edge which he claims to not believe in. Apparently he believes the market is random and the only edge is PRM. However, look at any chart pre HFT OR NOW even with algos and HFT's dominating and any chart has B.O.'s, CHANNELS, RANGES, P.B. REVERSALS, FLAGS, WEDGES...ETC ad nauseum...and they are repeatable and can be anticipated via probability. For instance, about 70% of range b.o.'s fail and price goes back in the range. Can that be captialized on as an edge! You bet. Eventually, a b.o. will succeed and the range will end but even then there are ways to determine which direction the b.o. will most likely happen. One can load the boat just before the b.o. starts hence getting a "jump" on the B.O. All of this is trading with an edge.
    Last edited: Jan 8, 2017
    #88     Jan 8, 2017
  9. algofy


    The 30 point loss was not a daytrade, it was a swing trade.
    #89     Jan 8, 2017
  10. jl1575


    PRM is probably the best thing he has found after so many years of trading. Well, everyone has his/her conviction, no point to argue; some found their best things in algos/indicators, and some fund their best thing in PRM/psychology.
    #90     Jan 8, 2017