Money management is inescapable, for there is always something managing one's money--either the trader or the market.
There are many factors to consider when trading the ES. Money management is critical. Entry points are critical. Exit points are critical. There are various styles and timeframes of trading. I agree that one should post all of the above when indicating a position in this journal because it makes great talking points and provides a strong basis for sharing and learning. I'm looking to the short side myself.
60 min chart is sideways making for a total inside day. Might not get a trade off today. Price points may not get triggerd at all.
in my case ,your right,i'm lousy at it,but my entry points are good,which helps,pulse--i doubt we will be sideways after the fomc meeting,i'm looking for yesterdays gap from friday close ,1105ish to get filled we need to hold 1046,yesterdays nip on MP,and there is a small ledge at 48,i dont use overnight #s
There are many factors to consider when trading. Period. Money management is critical. Entry points are NOT critical. Exit points are NOT critical. Osorico
Entry points ARE critical. example: you sell at the low of the day. i.e. buying the top and selling the bottom. Exit points ARE critical. example: you fail to take profit on the trade and you end up with a loss. i.e. you fail to let profits run or take profits to soon.
That breakdown was rather small, only 4-5 points and quickly reversed. But on the NDX chart there is still a giant descending triangle, horizontal line around 1393... Edit: Looks like finally breaking down... Here it is in progress: