Short @ 1195.25, Stop @ 1197.50 I'm posting late as I just came back from office. At work, I observed how a new support basis formed during the last two days at 1194, and subsequently broke premarket. This is where I took the opportunity to close out my previous long position at 1194.50 for 45.50 ES points profit ($2,275) and went short at 1195.25. Stop was initially at 1204.75, but adjusted lower to 1197.50 (the most recent peak). Total profit since beginning: $3537.50
Ummm, you had a computer available to trade, but didn't have one available to post the signal here until eight hours later?
I wanted to add a chart along with it before I post. I'm not sure this journal is understood as a signal service?
It's your "journal," do as you wish. But if you want credibility, post trades in real time, not from eight hours ago.
The new visible resistance being shaped is seen at 1136. I'm currently still short from 1195.25 (approx. $3,412.50 unrealized), but have adjusted the stop lower to 1139.50.
Bought @ 1134.50, Stop @ 1114 My short position was closed out last night at 1139.50 for a gain of $2787.50. The market is breaking the resistance drawn in my previous post right now, which is why I am in a new long trade from 1134.50. Total profit since beginning: $6325
The trend is whatever you define it to be. Once you eliminate your personal filters, you will realize that no matter what time frame you use, you are still just looking at lines on a paper. I see plenty opportunties for trend following in the indexes every week. Trend following is one of the time tested models with the highest expectation of return due to the fact that you can enter trades with very low risk with the potential of making out with a large multple of your risk per trade. Check my thread out. I am still a new trader, but I employ what is trend following. Last week, I had the opportunity to make around 20k with my 10/15k account with a very small risk ($500 - $1,000) utilizing a very simple trend following technique. Couldn't/wouldn't pull the trigger as I was at my day job. As for Bomb goes, you should post end account value, trade profits, and charts.
adamm2, that's why I love trend following so much. It is absolutely objective, straightforward, and best of all: an approach that will last as long as trading exists. Not trying to sound cocky, but the trades I post here might be a good reference point for a newbie. I am posting charts and profits regularly.