ES Tuesday 3-6-12

Kicking off Tuesday's trading topic with a question:

What would Bruce do?

It's an easy game and designed to make you think and become a better trader. Feel free to replace Bruce with KoolBlue or Monkey Meat or any other trader that you follow, understand or wish to emulate.

Before, at or after the market open and then at any time during the trading day ask yourself what that trader would do at this point. Post your trade (or non-trade) with the reason that you would have (or would not have) taken it. If you're learning and not posting an actual trade then say something like "I would have gone short here if I were trading real money because we hit up against the triples on..." etc.

If you see someone comment on a possible trade setup that you recognize then reply and confirm that you agree with the setup or what you think the setup should have been or why it is invalid.

Think of this as your midterm. You've been reading these topics for days, weeks, months or years. Now try it out and get feedback from your peers (hopefully).

Good luck everyone!
Yes Bruce, sorry, though I have seen horse mention this website in prior threads. That and some of his comments made me suspicious. That's all. I apologize.

Regarding the website, they calculate probabilities that we fill gaps, break the initial balance, etc, based on past performance. It just did not work for me because I felt like the numbers were coming from a black box and I personally like to know where the numbers I am working with come from. That's all.

They send a few brief reports intraday and even though they mention the performance of their trades in some of the reports they rarely give heads up real time (unless asked). I don't mind the latter much. But I do believe that if you are going to talk about your past trades you need to mention them when it is relevant or you don't at all.

Hope it helps.

I haven't been on this thread much lately because I am trading the euro and oil mostly, but always read it.

Originally posted by BruceM

I think it's ok APK because I asked Horse for the website. If he came on here and started promoting it then that would be a different story..

hopefully it's cool with everyone....tell us more about your experiences with the site APK if u have time
As I said before, I apologize horse if I am wrong.

Just doing my small part to keep this site spam free.

Originally posted by horse43

nope not one of them APK, and no worries, the only reason i posted was bruce did ask for it.

i dont remember them posting stuff about risk management or 2% account value, but my risk management system is 2% on any trade i enter so just wanted to add that in there. and i was referencing their latest report so i'd imagine there was some similar wording with my post.

this site is great, but there isn't a lot about stops or risk management which is a huge part of the game so i wanted to put it in. we never know if we are right or wrong on a trade, but do know how much we could lose each trade.

i've been around for a while on here and that's not how spammers operate.

this late in the day, if the short covering and +43 is going to come, then 1339.50 should not trade so im moving the stop up to breakeven and risk commission and will not add lower.
wow, survived by a tick! how did i not get taken out!

exited 1 at 42 and moved last 1 to plus a tick with original target above 1343 hopefully getting bruces 46.50 gap.
Originally posted by apk781

As I said before, I apologize horse if I am wrong.

Just doing my small part to keep this site spam free.

no worries, im all about upholding this site from malicious outsiders, it really is the best site and forum for traders, lots of great information.

as with the service, it works well for me and my plan. i agree with APK and that the trading references they give in the recaps is a bit unecessary, but it is more of a research service than a real-time trading service and they make it clear so im sure they're just trying to pump themselves a bit to get more customers, which is expected.

it give me more confidence to enter trades and hold winners longer so it's been worth the $ for me. They really don't trade too many gaps outright at the open but it's such a strong probability trade that it's good to know the edges going into the day.
great trade's all cool APK..thanks for the recap..
Originally posted by BruceM

great trade's all cool APK..thanks for the recap..

final contract exit at 42.50.

thanks bruce! have a lot of respect for you and your thoughts for longs today added some conviction to my trade idea. when we have such a strong long term timeframe, it's easier to side with them, even on a day like today!

will be interesting to see what happens tomorrow.