ES Journal - 2019/2020

Discussion in 'Journals' started by Buy1Sell2, Dec 19, 2018.

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  1. vanzandt

    vanzandt

    Whats hard is adding to a winner, because you want to get in at the original level again.
    So much psychology in this game. 80% really.
     
    #3041     Mar 27, 2019
    Buy1Sell2 likes this.
  2. Buy1Sell2

    Buy1Sell2

    This is one of the reasons that in my view it is better to just get in with full position and use a prudent stop. When right, you will have your assets deployed. Furthermore, the greater number of entries, the more chances you have of making mistakes. Scaling in or out is inferior.
     
    #3042     Mar 27, 2019
  3. NQurious

    NQurious

    When you catch a trend day you don't want to retrace back to your initial entry. Look at @speedo's charts: Get short at the first signal, add at subsequent signals, trail stop a few points above the long MA: Roll a few pyramids and you'll cure yourself of "wanting to get in at the original level" mind set quickly. If your first entry is favorable, you'll often find that even with a "prudent" stop on the whole position after additional entries that you'll finish positive whatever the market does, and the reward when you catch a trend is quite advantageous.

    I generally do not add to a position that is showing a loss, however, I do have a few situations where my plan is to initiate a partial with a limit order, with one or two adds with limits as well. But you had better have a stop as well, because averaging a loser is a real loser if it fills your planned limits but keeps moving against you lol

    I do not believe anyone should make blanket statements for everyone. The market offers what it offers, and some see things that I do not, and I see things that others do not. Neither is wrong ... just different perspectives.

    Good luck today, y'all!
     
    #3043     Mar 27, 2019
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  4. Buy1Sell2

    Buy1Sell2

    Bear marketing price action continues to be in vogue here. I am staying short right now.
     
    Last edited: Mar 27, 2019
    #3044     Mar 27, 2019
    volente_00 likes this.
  5. Hi, invertebrates!
     
    #3045     Mar 27, 2019
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  6. mm2mm

    mm2mm

    i predict another rangy day... no pleaseee not like this
     
    #3046     Mar 27, 2019
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  7. mm2mm

    mm2mm

    Hello you mollusk!
     
    #3047     Mar 27, 2019
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  8. NQurious

    NQurious

    How dare you assume I have a backbone :wtf:
     
    #3048     Mar 27, 2019
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  9. NQurious

    NQurious

    I like ranges and I like trends, but today has been a little more schizophrenic that I like.
     
    #3049     Mar 27, 2019
    _eug_, mm2mm and fordewind like this.
  10. Can you elaborate a bit on what you mean by "roll a few pyramids"?
     
    #3050     Mar 27, 2019
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