Search results

Hey folks, Too choppy for this trader. I'm guessing will see more of the same with FOMC mtg announcement on Wed. and economic news due out later in the week. YM is in a little up channel on the 60m and 180m chart. On the daily, price looks to be in a fib retracement zone (.50-.618)...

Excellent question! My plan is to scalp the first 1/2 at +10 and try to catch a trend with the second half. With 3 contracts, I would scalp 2 contracts and let the third ride. What I need to do moving forward (or one could argue I should have been doing all along) is to start incorporating...

Week 19 was very good overall. Friday's debacle cut into profits, but, I still earned 3.8% for the week. I was going to bump up my contracts from 2 to 3 next week, but, I may delay that after Friday's mess. ie Not sure I'm mentally prepared to increase my position size yet. Have a great...

Painful post today. I got greedy and arrogant thus promptly chopped up today. Once again, down in the am and up in the pm. Had the right idea in the afternoon but just lacked patience today. Three trades: +10, +6 -19, -19 +10, -13 -25 for the day. Good thing this happened on a...

Two trades today. One after the new housing report and another in the afternoon as I attempted to ride the afternoon wave. Simliar pattern to yesterdays action--down in the am and up in the afternoon. What was interesting today is that there were three 100pt trends that occured today. 1 up...

Ok, I hope everyone grabbed pts today. It was a nice setup for a short. Merrill Grinch's earnings bomb set the tone early and for those of you are in the states, did you really think the housing numbers were going to be good? he he he... Sorry, there are houses in my neighbourhood...

Price opened above the pivot and bounced off of R1. Also, a nice head and shoulders pattern developed. Although A/D and volume started high, notice the steep declines (Yikes!). Probably should have been expected after the booming news on AAPL earnings. Don't really know for sure...

Hey folks, No trades today. I felt like a deer caught in headlights. I saw mixed signals today thus chose to stand on the sidelines. In hindsight, this looked like a good day to trade trendline breaks. But then again everything looks good in hindsight :-) Oh well... For those of you...

Good question. IMO, there are two types of traders--scalpers and trend followers. Scalpers make small gains using a system that produces high winning pct and small profits. Trend traders make gains using systems that produce small losses/large gains and typically have a low winning pct...

I use a discretionary exit for the 2nd half of the trade. My goal for the 2nd half is to "ride the wave" and try to catch 60-70% of any trend that may occur. Break of a trend line and/or an EMA are nice areas to place catastrophic stops; Change in momentum (ie trend indicator rising above...

Week 18 Results attached. There are some questions about exit strategy posted. I will try to get to those during the Red Sox/Indians game :-)

Hey folks, No trading for the rest of the week with options expiration tomorrow. Be careful and be profitable!

Sounds good! Just keep in mind these are psychological areas of support and resistance. Thus, they are merely areas to pay attention to (ie study price/volume action) and check for confluence--confluence is the key IMO. Good luck!

PivotPoint PP = ( YestHigh + YestLow + YestClose ) / 3 Resistance Level 1 R1 = PP * 2 - YestLow Support Level 1 S1 = PP * 2 - YestHigh Resistance Level 2 R2 = (PP - S1) + R1 Support Level 2 S2 = PP - (R1 - S1) Resistance Level 3 R3 = (PP - S1) + R2 Support Level 3...

Crazy day today. Huge gap up and then a slow grind that eventually filled the gap. Now the market is rallying--Crazy! I tried to stay with price action today. The first trade resulted in a net loss of 4 points and the second trade profited +10 and +89.

Two trades yesterday (10/16) for -13. Look like another trand down day. After the initial sell off, Mr. Market traded sideways. Oh well, it happens :-) First Trade: (1) +10 (1) -11 Second Trade: (1) -12

Trend down day today. (1) +10 (1) +64

Hey folks, I was out-of-town last week thus did not do any intraday trades. I posted results through week 17. BTW--I changed the method for journaling contracts and points for week 16. I will go back and redo the previous weeks soon. Happy trading.

No trades today; Looks like everyone is waiting for tomorrow's employment situation report. Although it looks like gap traders made some decent coin during the opening half hour.

Price opened below pivot and yesterday's low. All 4 mkts went red on open; A/D moved down immediately with A/D volume following it; Looks like a potential down day. I was tempted to play the gap fill. There was a nice fib retracement to the S1 pivot that ened up rallying into the gap fill...