08-05-11 08:29 AM 08-03-11 08:36 PM 08-03-11 07:43 AM 08-02-11 08:38 AM 08-01-11 10:12 AM 07-28-11 07:11 PM 07-26-11 08:42 AM 07-20-11 07:23 AM 07-14-11 06:19 PM 07-11-11 08:29 AM 07-08-11 07:51 AM 06-30-11 09:47 AM Currently short the Sep ES contract at 1314.50. Stop is 1372.50 6/30/11. --Maintaining short here. Stop remains the same.7/8/11. --Maintaining short here 7/11/11. Stop remains the same --Maintaining short here 7/14/11. Stop remains the same (outside the noise) --Maintaining short here 7/20/11. Stop remains the same --Stop remains the same 7/26/11 --Stop continues here 7/28/11 --Don't see a reason yet to change stop 8/01/11. Staying short --Will be looking very soon to lower the protective buy stop. Keeping it the same today however. 8/02/11. --Staying short here with the same stop. 8/03/11. --Stop lowered to 1361.75 8/03/11 --Continuing with same stop here. I believe this bounce is short covering only at this point. 8/05/11 --Staying short. Same stop 8/08/11
tempted to close here, but at the same time, we know that we are going to 1137 at least at some point, so Gonna try to be patient
I know everyone is talking about volatility, but there really is none on the longer frames. It's just a smooth downtrend.
Way To Go Do what is best for you but another way to manage that was to move stop to 1165 that way no matter what you get 11 points and you would have still been in right now!!!!!! Let winners ride. Cut your loses..... Most of the time I get stopped out. Stopped out for a win If you got stopped out at 1165 it would be a win!!! from 1176 (But now you could have moved it to 1160 Again do what is best for you but my rule of thumb is if I think I need to get out (When I am in a obvious winning trade), I take some profits and tighten stop and let it ride as long as it will. 10 more points would be in your pocket right now
Notice the other day I tried a long in the face of the downtrend---If it were a winner, that would be fine, but it really was a better bet to wait for a short signal when the predominant trend is down unless there is an obvious reversal. --over the long haul.