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ES 10-09-08


buying @ 998.5

stop 994.5

i think it goes to 1010 - 1015 and back to the lows.
4 point stop... if hit ill buy 973 ish: a, i believe today may actually be an up day...b, we already successfully tested the yearly low once...c, congrats Joe on the options play, d, i still think the real bottom hits early next week!
stopped for a loss of 4 ...still looking to buy lower
Sold 981
fwoo, glad i covered 980
i have to say this ES cue bouncing around like YM today
Up 4.25 on the day... patiently waitng ... u know the area! 5 min boll. avg 978.25, and 1 min avg. 980.50 providing a measure of support.
I don't have my MP fired up but I wonder where the Developing VA was when you took this short...? Mp traders will sell the DVAH on the first retest after breaking the IB low
quote:
Originally posted by CharterJoe

The reason I shorted was $ticks at the high of day, ES almost at sq nine 993 but was going into it stalled, and 1 min RSI almost exhausted. Covered 983.75 +5.25

Hit was higher at 997 for DVAH nothing in profile was close a daily number there at 993.82
anyone have the developing value areas for now?
Thks.
right now dvah, 995 dpoc ,83.50 dlow ,974
quote:
Originally posted by koolblue

YEAH, Joe .. as i said i did! But i was sure it could be mastered and after using every system known at the time , i decided to be my own 'expert' and develop my own thing! been fine ever since!



Well said, You can hear it a million times but its whats needed...a system. I am counter trend trader most of the time so its a given that you'll draw down a fairly large amount at times. But my draw downs are smaller than my winners, and once losses occur I go smaller on contract size and then add back to it when things go back to normal. I don't need a new system I just wish I knew how to flip the counter trend trader off and turn on the trend trader in an instant.