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ES on 3-18-11

Sometimes you get lucky. Got home from work and re-shorted the 1269 for an O/N trade, and placed order to cover @1262, which was the low during RTH. Just got back from family dinner, and lo and behold, my short was covered at 1262. Then ES shoots up to 1279+. New short placed at 1279.50. Whoever was watching that double bottom at 1262 early tonight and went long - congrats! Setting up for nice trade tomorrow.
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Originally posted by raj1301


I am new to this forum. The knowledge shared in this forum in mind blowing.

How to vote? I searched and could not find a link or info in FAQ.

Thanks DRob. Unfortunately I do not have enough credits to vote :(

Thanks Kool. I followed your trade today and made 4 points.


Great stuff here. Keep up the good work.

My bias today was long. I made two trades. Apparently there is a "ban" on non real-time trades, so I will simply ask for comments on the next few day's direction, starting on Monday 21 Mar.

My thoughts were we were going to at least hit 1292 today before heading back down. Generally speaking I only trade 1 - 2 times a day and place a single order that upon execution, triggers an OCO. After my first successful trade for the day, I entered my second trade at roughly 0905 hrs EST with a buy at 1283.50. My profit target was 1288.00. Obviously that did not hit as the high on the 0925 hrs bar is 1287.25.

The above is one of the disadvantages of not watching the ES tick by tick (I gave that up after several years of futures trading). My current method is more like fishing and no trades or a trade every other day is fine by me. I adopted this method from my success with swing trading stocks and I'm surprised at how well it works.

So, my post is a small introduction as well as a desire to solicit members thoughts on direction for the next week. I'll throw my hat in and say we'll visit 1300 before re-visiting the lows established this week.