ES Journal Archive (2006 - 2008)

That will do moose, that will do

FOMC Meeting; interest rate decision expected around 2:15

 

/SS 1198.75

2pt stop


5:33 exit 1/2 1196.75 +2 Stop to BE

5:51 last 1/2 out at BE

 

I'm glad someone notices. That was actually SPX I was referring to (see chart) aswell, so transfer the 2.5 points premium and you got 1173.25 low made overnight.... within a point of the 50% retrace.... magic

We'll see what happens from here. They've got their line in the sand. Theres a good chance we'll test it again in RTH so the big players consider it a more legitimate touch.

 

Long SSO @ 52.11, stop at 49.70. Equivalent to long ES 1185, stop at ~1160, but I'm not a baller who can take 25 points against him on ES

Interesting - http://quantifiableedges.blogspot.com/2008/03/how-market-might-react-to-fed.html

 

why not just go long the SPY?

 

I think that was a paper trade. He ended his trading career.

http://www.elitetrader.com/vb/showthread.php?s=&postid=2070827#post2070827

 

Please refrain from posting here. Thank you in advance for your consideration.

 

Giant 2nd gap in a row...

 

Leverage... one of the reasons we trade ES versus the SPY. SSO requires me to commit half as much capital.

My stop is too big to trade ES. Doesn't mean its a bad trade, it still meets my criteria as the reward is still much larger than the risk... I'm trying to bottom pick hard here. I'm not selling for 100's of SPX points if not stopped out.

 

For those interested in bottom picking,

Notice that USD/JPY is still standing at 103.70 level and it's been moving in lock step with SP ever since the crisis started.

For a double bottom in the pair, there is at least another 300 pips to go ...