Giant ascending triangle on the SPX multiday chart, horizontal line is 1234, touched 4 times so far. So if we break through one more times that is the place to go long.....
lovely! We're motoring up now after hours like I was waiting for. Looking to close this add on at 1239 for a nice +10 points and hold the 1237 until 1250 or so which might get hit tomorrow.
Pretty much. What is your plan B? Let's get real for a moment. How do you monitor when not to go long or when to get out? Is your stop at 0? Ain't nothing wrong with that in fact, as if SPX hits 0 money as we know it will probably will be worthless anyway.
D'oh. Can finally log in and I wasn't 'quite' hit for my profit target. Most it made me was 9 points overnight! 1 point short. So still in. edit: hi AW. Yes, ES is lots of fun!
You can pretty much go long any time if you are ok with possibly taking some heat before it bounces and you have a big account relative to your stake, but I try to generally use some TA and buy on pullbacks. Stop are silly on long trades on the ES. I think its throwing money away. We know that it goes UP overtime. As I said, I only trade at £1 per pip at the moment and am happy just making a few hundred quid per week. Im only young and that's as much money as most of my friends earn. Like airwaves said, barring a terrorist attack, my account will keep growing. (in fact, even the most cautious trader could get hurt if a sudden terrorist attack happened due to the huge slippage??) The ES has a strong upside bias. It seems that everyone in this thread and most of the site has been trying to short this thing since about 1000ES. Maybe due to being fresh to it all I can see what you guys cant!! My account is about £10,000 (has grown lots in the last month or so). Imagine trading the DOW, it would need to drop to zero to wipe me out if i only traded the 1 position. As it is, I do add to positions because i know we will bounce (been prooved right time and time again now) and in the unlikely event i got in trouble, I could add a little more to my account. I know with 100% certainty that the dow will be 20,000 one day. However, 5000 dow is very very very unlikely and only possible in the eyes of the silly bears who cant see that this market is heavily manipulated. That's my theory, lol