ES Journal Archive (2006 - 2008)

This is another way that someone could learn to trade. ie trading without margin.

 

Tax is an important factor.

 

sorry what do you mean?

 

Trading only an amount that is 1 to 1(or less) with your capital. Ask yourself "What got Bear Stearns in trouble?"

 

Daily momentum will head south if ES closes below 60 today.

 

Lot of traders supporting the 964 low, but I suspect that it will eventually fall through there.

 

First target S1 at 58 touched. Sweet! (sorry can't help)

 

long 956.50, 5 pt stop, pa target

 

I believe that ES will have just one chance to reverse to the upside today and it must occur in the next 25 minutes before the end of this 60 minute bar. Otherwise, the market would most likely be lower into the close.

 

I understand why you made this trade from action on the 2 minute chart, but I think it has a low chance of survival for extended gains. Good fortune to you though if you have indeed found the bottom!