ES Wednesday 3-4-2015

Bands for the day. Good luck to all.

was there some news causing all this selling? there must have been an impetus to this

just trade your lines and take quick losses...unlike me today...expecting that 91.50 soon....and that 93.......how often do they leave selling tails at previous days lows ???f

Originally posted by pants

i need bigger hands or a smaller knife...any suggestions :-)

it is the inability to take the small losses that is killing me.... i need to get over that real fast..

no reaction at the 91.75 line or the 95 line........so I always trade for the retests when they do that...especailly early....perhaps today will be the clunker

yup...I did... 3 tics x 2...sounds small but % of account sadly large...tough day...how many more hours till Thursday comes :-)

honestly, that is pretty decent. you are always going to have losses. perhaps you need to wait till you can have a bigger account? because you really cannot do better than 3 tic loss. i wish i could say my losses were that small...

Originally posted by pants

yup...I did... 3 tics x 2...sounds small but % of account sadly large...tough day...how many more hours till Thursday comes :-)

coming out very heavy at that 91.50 because this was 2nd add on...I usually don NOt like to add - on more then twice and have three totally units working....but I would have been much better today just taking the quick loss and trying again...for some reason I myself MEAN reverted to my old ways .......

LTN at 92.75 - 93 ...that is real close to the 2-20-15 POC......so watch that and scale heavy near there if they can push it.....the reality is we spent lots of times at the 91.50 - 93.25 zone on 2-20....critical spot

try to take the quick loss than miss the move. Very frustrating.

Thanks, it's reasonable losses when everything failed to hold...account wise, sadly I can't make it bigger.

88.75 was LVN from way back

that is precisely what i am trying to do as well... be a momentum trader when the opportunity presents itself and the rest of the time be a fader..... good trading Big Mike.

Originally posted by Big Mike

Just to add more grist to the mill. Today is the type of day that made me change from a fader to a momentum trader. I try to let the market tell me a story (price action).

Earlier I mentioned the EURO IB low as critical. it was critical because once it was broken to the downside, there was very little push to go above it, price just consolidated sideways around and below the Euro low.

This had me leaning short all the way. When the little burp on the opening didn't hold it was time to hop on short. Targets- Y low and beyond on runners.

Different perspective.

Good luck to all.