"It is literally true that millions come easier to a trader after he knows how to trade,
than hundreds did in the days of his ignorance." J.L.

Monday, July 13, 2009

ES Globex trade

Long 871.25, exit 881.50. +510.00



Entrance was only slightly early and took some heat, but price still stayed within my 865-887 range.

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9 comments:

JE said...

Squeeeeeeeeeeeezzzzzzzzzzzzze!!!!!

JE said...

Great trade, man.

Me vs. Wall St said...

Haha, thanks. You, too! Probably feels sweet unloading those options :)

Jules said...

Woohoo! Sweet profit!! You're in the zone again, MVW :-) Awesome!! You are sharp in your analysis - it's your edge - you just have to trust it enough to let profits run. I, for one, want your kind of wins, but I just can't sit. When I do, I usually bail at the wrong time. I don't think I've ever pocketed 10 ES points in one trade. Envious!! :-)

Me vs. Wall St said...

Thank you, Jules.

When I put on the trade, I had it planned out on paper, all the numbers in excel calculated. I was serious about this trade; to me the charts were clear: this is the area for the next POSSIBLE swing. I planned on holding out for the early 900s from 871.

What did I do? I saw 500, got giddy and took it! Oh well, next time…

Regarding holding. It’s a tough transition. What I did to help the transition was take my shorter scalp signals from the 1, 3, and 5, and applied them to longer term charts. Since the market operates in fractals, it’s essentially the same trade, just on a different time frame.

But really, it’s not the only way to trade. The only right way to trade is the way that makes money :)

Kevin Watson said...

Great work MvW well done

Me vs. Wall St said...

Thank you, Kevin. Are you still holding AA? A lot of shake and bake this morning.

Adam Berkowitz said...

nice trade

Me vs. Wall St said...

Thanks, Adam. Now let's see if I can repeat the process.

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