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COVERED ES SHORTS


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#1 Wallcrawler

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Posted 22 December 2006 - 12:25 PM

Like everyone else it seems I covered my positions. Proud of myself for holding out on these ones cuz I almost didn't. Expecting a run now to about the 1455ish area after some more possible drop to the 1416ish area. You all have a great holidays - WC

COVERED ES0703 1422.50 / Dec 22,06 / 09:17 am pst. - 23.50 points

30 min chart
[img]http://quote.prophet.net/JCPrintChart?href=http://HOPE.prophet.net/TemporaryFiles/JavaCharts/31.1166807772082.print.gif[/img]
$ No more effort is required to aim high in life, or to demand excellence and success than is required to accept failure and poverty. $ ~ Anonomous

#2 Wallcrawler

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Posted 22 December 2006 - 01:50 PM

See what I can do with this and if I am reading my system right... Either we get a run going into the end of the day or it will happen early next week... Is we do go alittle lower then I will stack my position - WC

LONG ES0703 1421.50 / Dec 22,06 / 10:43 am pst.

30 min chart
[img]http://quote.prophet.net/JCPrintChart?href=http://PATIENCE.prophet.net/TemporaryFiles/JavaCharts/29.1166813027802.print.gif[/img]
$ No more effort is required to aim high in life, or to demand excellence and success than is required to accept failure and poverty. $ ~ Anonomous

#3 IndexTrader

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Posted 22 December 2006 - 02:47 PM

You do seem to sell at the absolute high, and buy at the absolute low as a general practice. But in this case you would have had to sell at 1446.00 in order to make that particular profit. ES never traded that high. IT

Edited by IndexTrader, 22 December 2006 - 02:56 PM.


#4 Wallcrawler

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Posted 22 December 2006 - 04:56 PM

You do seem to sell at the absolute high, and buy at the absolute low as a general practice. But in this case you would have had to sell at 1446.00 in order to make that particular profit. ES never traded that high.

IT


Sorry IT not sure what you mean...

My first position I entered SHORT was - 1434.50 - early in the trading day... Should have exited that one around the 1430ish area but wasn't watching and my stop was alittle to far out. However, I stuck it out... :sweatingbullets:

The second position I entered SHORT was - 1439.50 - alittle over 4 hours latter...

EXITED today at - 1422.50

1st position was 12 points...
2nd position was 17 points...

Total points for ES trade - 29 - ooops I short changed myself!!!!!
$ No more effort is required to aim high in life, or to demand excellence and success than is required to accept failure and poverty. $ ~ Anonomous

#5 IndexTrader

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Posted 22 December 2006 - 05:11 PM

You do seem to sell at the absolute high, and buy at the absolute low as a general practice. But in this case you would have had to sell at 1446.00 in order to make that particular profit. ES never traded that high.

IT


Sorry IT not sure what you mean...

My first position I entered SHORT was - 1434.50 - early in the trading day... Should have exited that one around the 1430ish area but wasn't watching and my stop was alittle to far out. However, I stuck it out... :sweatingbullets:

The second position I entered SHORT was - 1439.50 - alittle over 4 hours latter...

EXITED today at - 1422.50

1st position was 12 points...
2nd position was 17 points...

Total points for ES trade - 29 - ooops I short changed myself!!!!!


OK...I get it. I thought you were saying you made 23.50 points from where you shorted from...ie 23.50 plus 1422.50, which would have been 1446.

I'd say you need to provide some detail when you do a multiple entry trade like that. Otherwise it gets confusing, at least for me. I probably would have averaged the two trades and said I covered all my contracts at an average profit of 14.50 points...or whatever it was.

Or, you could report each one individually too...I made 12 points on one trade, and 17 on the other like you did.

Just as a point...if I traded a 10 lot, let's say sold at 1435, and covered it at 1425, I wouldn't say I made 100 points...I'd say I made 10 points. I'm mainly just suggesting that you post it in a way that some of us slow folks get the picture.

Either way, good trade. I was confused the way you originally reported it.

IT

Edited by IndexTrader, 22 December 2006 - 05:14 PM.


#6 Wallcrawler

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Posted 22 December 2006 - 05:19 PM

You do seem to sell at the absolute high, and buy at the absolute low as a general practice. But in this case you would have had to sell at 1446.00 in order to make that particular profit. ES never traded that high.

IT


Sorry IT not sure what you mean...

My first position I entered SHORT was - 1434.50 - early in the trading day... Should have exited that one around the 1430ish area but wasn't watching and my stop was alittle to far out. However, I stuck it out... :sweatingbullets:

The second position I entered SHORT was - 1439.50 - alittle over 4 hours latter...

EXITED today at - 1422.50

1st position was 12 points...
2nd position was 17 points...

Total points for ES trade - 29 - ooops I short changed myself!!!!!


OK...I get it. I thought you were saying you made 23.50 points from where you shorted from...ie 23.50 plus 1422.50, which would have been 1446.

I'd say you need to provide some detail when you do a multiple entry trade like that. Otherwise it gets confusing, at least for me. I probably would have averaged the two trades and said I covered all my contracts at an average profit of 14.50 points...or whatever it was.

Or, you could report each one individually too...I made 12 points on one trade, and 17 on the other like you did.

Just as a point...if I traded a 10 lot, let's say sold at 1435, and covered it at 1425, I wouldn't say I made 100 points...I'd say I made 10 points. I'm mainly just suggesting that you post it in a way that some of us slow folks get the picture.

Either way, good trade. I was confused the way you originally reported it.

IT



Gottcha, good points... Sometimes I have to run so quick,... and just want to get the post out before I leave... I don't think about how people might read it... Good Holiday's to you and your family- WC
$ No more effort is required to aim high in life, or to demand excellence and success than is required to accept failure and poverty. $ ~ Anonomous