Did not trade today due to a "permissions" thing with IB. Spent the morning getting it straightened out. Downloaded the beta eSignal charting software, and spent the afternoon playing with that. Did not papertrade either. By the time I got back up and running the 40 pt move was half over. Just watch the rest of it go up. Amazing, when everybody thought it was gonna drop due to the lack of rate cut, including me, it rockets up. Truly a strange market she is. Here is the chart just for the records.
Here is a quick questions for you mini guys . If you used some type of trailing stop do you ever get in on big moves and ride them all the way up? Like today, did anyone enter on the up turn (maybe just expecting a small move) with a trailing stop and ride the move all the way to the top? Just wondering.
Sharp, What you're describing is a well used modus operandi, take a look at my post on page 53 of this thread. Since you never know what the market will give you, you need to be prepared to milk it of all that it's got on a day like today. Richard
Yeah, me too. I was too busy playing with software to make any money today, even if it was on paper... Go ahead, and brag, if you rode this puppy for at least 20 pts.
Well, I didn't make 20pts with the ES. I don't even trade the mini's. But I have spent a while looking over the charts you post Huios. They are like some of the stocks I play. On days with a run up like today I am usually able to make large gains due to the fact that the market just kept going up with out any major pull back. I just keep adjusting my stop where I want it. As the market keeps going up I never get stopped out. I only take profits when: A. The market moves back to my stop B. At the end of the day Does anyone use a strategy like this with the mini's?
Today was not the best day for trend traders. My filter did it's job, and kept me out for most of the day. 3 trades, all losers for -4.25 points. First day back trading real $$$. Since I made so many changes to the system, I am beginning anew. The account is back up to where it should be, and I am taking 1% risk every trade. Right now my position sizing is one contract. Net for the Day: -226.90 Net for the Week: -226.90 Net for the Month: -226.90
Sharp that is...sharp. I am working with a new daytrading method that I am trying to do the same thing. Move up the stops as price moves up or out at the end. It works well. Huios, wtg man. Will be seeing you soon buddy. Looking at you right now on the map. Is that you waving?
33s, 50e, 77s, 74e, 40e/85n, 40e, exit 287, right, right, right, park on the left, and your there. No sweat.