Recent content by sempai

Interesting post granville x. One thing I would add is the effect of commissions, particularly when trading the Mini-Dow. For example, at $5.00/rt, commissions equal 1 tick in the YM as opposed to .4 ticks for the ES. For scalpers or very active traders, that could be a significant...

Hi Awash, I have a lot of the same problems that you're describing in your thread, especially the one regarding missed opportunities. I have an uncanny ability to miss the trades that would have worked great, and take the ones that don't. One suggestion I have is to paper-trade the...

Dear Friend of Bills, Forget about trading. Just start drinking again now (you will anyway if you trade) and save yourself the $10k you're going to lose... I mean use, to start trading with.

I've been contemplating what to do from here and I think I'm going to go back to the paper trading stage and continue to try to work things out with the technique outlined here. I've also got some other things I've been developing as a result of observations made while trading these setups...

Well, that's a thought, but to tell the truth, I don't think it will help. The method that I described in my prior post that was making 75% winners until implementing it was very similar to the retracement setup. Sure, I'll give it a try, what the heck. It's only money.

4 Trades: 0 winners, 4 losers Gross P&L: -20 pts. Net P&L: -24 pts. #1 Range 9:38 -1 @ 9327 9:40 +1 @ 9329 (-2) #2 Retracement 9:40 a.m. +1 @ 9329 9:46 a.m. –1 @ 9327 (-1) #3 Range 9:58 a.m. +1 @ 9319 10:00 a.m. –1 @ 9313 (-6) I started to get mad after...

Here is the chart for today's trades. I've stopped putting the prices and pts. per trade in there because it's redundant - all of that info is already in the daily summary.

Perhaps due to the positive consumer confidence report, a few people decided to put some money into equity mutual funds today. If so, the fund managers would have had to be buying equities this afternoon.

3 Trades: 1 win, 1 loss, 1 scratch. Gross P&L: - 1 pt. Net P&L: -4 pts. #1 Retracement 9:37 a.m. +1@9293 9:43 a.m. -1@9294 (+1) #2 Retracement (mistake) 9:44 a.m. +1@9298 9:45 a.m. -1@9298 (0) This was a valid retracement signal based on the chart, but it was the...

Here is the chart for yesterday's trades. I didn't get a chance to put notes on it but I marked the entries and exits that are posted in the summary.

4 Trades: 0 winners, 4 losers. Gross P&L: -18 pts. Net P&L: -22 pts. (-1 pt/rt for commissions) I didn't deduct for slippage because these were actual trades and slippage is already figured in (just 1 pt. slippage). Today sucked. The market just chopped around and whipsawed me on every...

I like hammers at support and hanging men at resistance to signal reversals.

Here are some of the support/resistance levels for tomorrow, 8/25/03. The ones marked on the chart are from Friday. The levels not marked are similar 5-min. pivot levels from previous days.

Here's a link to the chart with the key support/resistance levels for today's trading which were formed on yesterday's 5-min. chart. I only use them until the price trades through a particular level. Then I use new highs and lows that are formed on the current day's 5 min. chart. I usually...

I forgot to post a trade setup that occurred at 9:55 a.m. in my summary. I've labeled it on the chart as trade #1b. The corrected information is: Summary for 8/22/03 4 Trades: 2 winners, 2 losers. Gross P&L: -1 pt. Net P&L: -9 pts. (-2 pts/rt for slippage and commissions) Trade #1b...