Wednesday, February 4, 2009

ES Trades 2/4

Today's play's all about ES' break out from a Descending Broadening Wedge:
ES Hourly

Entered twice for scalps (although one of them turned out to be a 5 hour scalp - talk about sitting!) at 834. All other entries were based on my view/plan that ES would hit 840, then 850.

1min chart below shows the the zone that contains all my entries (all LONG - I mean, I was bullish, and I've got to be, considering that I was trading a breakout above the wedge...I've had enough bad experiences trading against my view before my view was proven to be fatally wrong), and trade view below the chart shows all my trades.

On top of the hourly and 1min, I've used also the 5min chart (for all trades before 930am EST, I was looking only at the hourly and 5min)

ES 1min
Profit: USD 312
It's the first time I've traded ES during US market open after a rather unpleasant experience trading it in Sept last year; yesterday was the very first time I revisited it. What surprised me was that it didn't feel half as repulsive as it did last year.

Maybe it's coz TF has become such a wacko that by comparison, ES just seems so much more palatable...or maybe coz Sage really knows better when he said ES is tame and that I should give it a chance.

Sage, I've ditched TF for ES. We can exchange notes now!!! LOL!!!!!

Done for the day. Not overtrading something I barely know ...

2 comments:

sage08 said...

Welcome to trading the slow and steady ES. Your numbers are making sense to me now. See, there can be lots of free trade if you dare to take it.

Jules said...

There were many trades I didn't dare to take, Sage, coz ES just beats so differently from TF. But yes, ES' definitely better for my heart :-)