S/R Emini Journal

Yes! I saw it, But I'm the smart guy. Being this smart is getting expensive.

 

Good call Gary. I had the same thought but didn't act on it. dddooooohhhhh

I was only going to move my entry to 59.75 though, so result would have been the same.

edit: Long at 59.75 (round two ding, ding)

edit2: We have a piper down!! (- 2 pts)

 

Ok I am long at 1360. I hope we are finished with the chop stuff. We have made higher lows and a higher high.

 

I don't have any confidence in longs until after a significant pullback.

 

Me thinks you're right.

 

Ditto

 

Well I'm 0-2 this morning, but the good news is the discipline is rock solid, so good lesson learned from yesterday. Every system results in loses.

Don't know if I will be in anything else today, but I will be keeping my eye on it.

As for confidence, I don't really have confidence in any of my trades. Hopefully, the market will, over time, show that they work more often than they fail. Of course that can only happen, if I have the discipline to stick to the strategy.

 

Good Morning everyone,
I've posted this before but for those of you having a problem finding pivot points go to:

http://www.deltat1.com/DailyNotes/pivotpoints.htm

The site gives you pivot points for all of the indices.

As far a today is concerned if we stay flat there's a good chance of higher highs. I would really like to see some sort of pb. Haven't traded anything yet. It's a little too choppy for me right now.
Good Luck

 

Discipline is the watch word. I wish I was better at it. Wishing won't get it done. I have a proven system that is right about 55% of the time and profits are bigger than losses. My system is break even at about 43%. I've been in a tweaking mode for the last month and it's cost me. Gotta' get back to basics...slow and methodical profits. It ain't pretty, but it's a damn sight better than sustaining losses, especially when I know I'm breaking my own trading rules.

 

I am having problems getting my post to go through this morning. I lost on my first trade this morning. I think traders are scared of it getting too high right now. I think the best approach for the upside is to let the big guys take it up and for long trades go with the breakout of a flag or pennant formation. It is a lot safer to ride their backs here.