Anyone other than myself, ammo, and b1s2 still short right now? I got killed during the last minute rally and my stop is very near now.
I do not hold overnight positions any more since the volatility increased to 30+ pts average daily range. On one hand to avoid the risk. On the other hand, it is no longer necessary to trade overnight positions as there are enough big moves during the day. Was short pretty much since Wed on all those tops, all got hit by trailing stops ...
Pek, Just a note about the up trendlines that will probably interest you. At the close, ES successfully land above the up trendlines on 30-min, hourly, and daily. Thus it can be considered as a successful attempt to defend the uptrend. Not to my interest, but it happened.
had an 888 mental stop ,was waiting for a pullback to 68 ,didnt happen,when it got to 69,i was posting a 71 sh and missed it,so i will take off sun nite ,hopefuly we pull back to 864-870 area,i've always had a weakness in covering losses,envious of the guys on here with the better discipline
It is funny how they like to have breaking news at 3:30 on fridays. I try not to watch the news but you can just feel the manipulation. Im all for manipulation if I can make it work in my favor! Here is what i see with my keep it simple stupid method!
Here and in my own journal I often have referred to the importance of the 9:30 open and the opening range in intraday trades. I also have talked about keeping an eye on the previous day's high, low, and close, since those levels are keyed off during the day. Here is a link to a study going back to 1982, when the big contract was born: http://ripetrade.blogspot.com/2008/12/market-open-position.html
the url u put up for ripe trade ,his chart as an example of his theory didn't look very convincing or profitable, or i missed something