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ES short term trading 5-07-10


Once again a historic day. (the secular bear that started in 2000 has seen many of them!).Unlike 87,(i was trading!), unlike 98, unlike all the history made last year in a historic bear market, this crash was simply stunning. The dow plunged 1000 points not in time measured in 2 days or even all day, but in MINUTES! Welcome to the new dayz of algorithm driven robot trading! TRULY AMAZING . I didnt have many comment or posts during most of it because my charts were messing up (so i thought) and ive been around enough to know when Not to trade. I thought that was pretty much common sense, but apparently some chose otherwise. Foolish! I saw movements measured not in 1 or 2 handle increments like the 87 crash, but moves that looked like 7 or 8 handles at a time.I read one analyst who said they were closer to 20.Anyway, to the future. Like with any major earthquake, there is always the chance of small aftershocks, so please if you decide to dip your toe in the water, exercise due caution and USE PROTECTIVE STOPS!....Trust me, new highs (thats right i said new rally highs are ahead). The world isnt ending quite yet! lol
Nice +2.50 points out. I need it. Yes
My next long would be 1090.00 area.
Originally posted by ak1

Originally posted by phileo

long 1119.25 for the gap fill play

Could you please let us know what triggered your entry

1st thrust up off the open, then pullback that stopped at 1118.75 which was above opening lo. My indicator was still green, low risk their (stop 1117), and remember, I said that 1122.75 was high probability of re-visit, so i went for it.
now I know why people criticize Interactive Brokers.
My data feed has frozen up.
Is anyone else having problems w/ their data feeds just now?
I was trying trade sim, can't even do that !!!
Originally posted by johnpr2010

I would try this one with 7 contrats to see how it goes.


really? where's your stop?
wow almost 3 tick to my entry point. SHIT THIS MARKET!
2 IB a/cs here never froze. Probably your internet connection.
Originally posted by phileo

Originally posted by johnpr2010

I would try this one with 7 contrats to see how it goes.


really? where's your stop?


phileo

I use 2:2 ratio and 2.5:2.5 ratios on all my trades.
HEAVY SELLING IN EUROPE!!!
Click image for original size
may72010
thanks for the chart..have a great weekend