Thursday, May 20, 2010

Long ES

Sorry for having been MIA. Been hanging out at trading-to-win blog. I took a fairly large ES long position just now with a tight stop.

Position: Long ES 1064 with a stop at 1061.75

Its quite a tight stop on this one, so not gonna be upset if this gets hit but this is quite an important area of support. I expected it to get hit today during cash hours and held back as we fell short by a few points. While I generally wait for cash hours to reach important support targets, I decided to try it here anyways.

Its a fairly large long position here, largest long position I have taken in a while. So lets see how it plays out. I will be staying up to watch this one closely tonight. Technically it should hold here and not get retested during cash hours tomorrow. If I do not get 10+ pts on this position before open tomorrow I will close out or move stops to break even.

3 comments:

  1. well I tried lol, actually kept some on the table with another point lower but stopped out of 50%.

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  2. sigh - now I wish I had put in 1 more pt on that stop for the full position. I closed out another small chunk here just to cover the stop and make the rest a free trade.

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  3. well I tried. At least it was a 100% free trade here thx to closing some out last night.

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