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ES Friday 2-28-14


End of the month and I prefer buy side trades........I'm trying to increase trade size so will be limiting my "Live" trade postings as it's just too stressful when trying to bump up the account. Big question is whether or not we will just be forming one big consolidation pattern as all the trade so far has been contained within the range of Monday...very unusual.....most are watching the Tues- wed highs at around the 51.50 and we should too...

here is my take on it and my buy points....won't be doing much on sell side most likely


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the only spot i will try a short fade now is above 61.75
try to get back to 59.75
short at 62 now..keeping this small and 2 tics above highs will stop this out
vpoc may flip to 61.50 soon...on a tend day up vpoc flips higher are bad for fades on the short side
gonna try one more for a 61.50 retest....short 63...
only took one other trade and it was a long...56.75 was penetrated by 2.5 points so I was buying the retest of that and got long....explained that plan on video..so reason I was selling above 61.75 is that 56.75 was penetrated by 5 points...that failed me ...now penetrated by 7.5 points....can they get the full 10 points above it...hope not before I get my target
vpoc flip to HOD had me cover at 63.25....Ib will need to finish before anything else happens for me
gonna try one more up here and then call it a day...seeing signs of sellers but need to wait to c what happens at IB high..I know they will push for 66.75 if I am wrong on any fades above IB highs
trying from 63.50.....will bail slightly near new highs if wrong here...hoping my view of sellers is corrects s
With you on the short side Bruce after many failed tries as well...
Bruce, Really, Really great advice.
Posting this on Saturday so I don't know if anyone will see it. As I said earlier I'm away from trading late in the week but not out of touch with the markets and occasionally I get a peak at what you guys are chatting about. Quite honestly I miss it only being able to do this a couple of days week, hopefully that will change. But I do like to review and spend some time on Saturday going over charts, the markets, and these posts, and there is always value here. I can't stress it enough. Sharks and Apk it is great to see your posts in here. Bruce always incredible stuff. I will continue to contribute when I'm around, good luck guys and hang in there because surviving is 80% of the game. If you are mentally capable of staying in the game (and we all have demons) then success will eventually find you.
Originally posted by BruceM

you WILL turn it around...sorry to hear about this week but it was a wacky week....let me ramble if I may...I think ones ability to handle the losses separates the winners from the losers in this game we call trading..........I use to revenge trade and found myself usually piling on losses...while I still have losing days etc, I do not revenge trade like I did in the past.......my form of revenge comes in the form of taking good quality trades but exiting much faster...so that is my way to MAKE UP for the loss...I want to get paid back for that loss first...it helps my head and trading ego.....Too many times years ago I would stay at this market all day and quite often NEVER make up any losses....

No more !!! I only now trade past 11 a.m if I have winners early on in the day ...If I am losing past 11 then I have lost for the day and wait until the next trading day...some days it's real difficult because when u look back at a chart it is so easy to see trades we MIGHT have taken after the fact..so we get encouraged to trade longer on other days as we have these IMAGINARY references in our brain...........don't be fooled by them ! You need real and live trade references.....


this isn't meant for u specifically sharks.......just taking an opportunity to ramble........no more coffee / tea for me !!!
Originally posted by sharks57

I took losses hope to turn it around next week..