Search results

0634 EST Tuesday was such a signficant day that we still haven't worked off the positive move. In my opinion we still have a chance to get back up there so I will still do the following: Buy a one time approach of the following: 117 020 116 230 I'm more confident of 116 230 as a...

Final observation: The two follow on trades were executed in a text-book fashion. You have to continue and trade what you see and not be gun-shy after a mistake. The only possible criticism is that I could have milked the two follow on trades for a little bit more. I really like the...

Here is what I mean. When I post those levels, it is for a first approach only. Look at the approach just prior to my fill at 117 180. The trade was over at that point.

Selling at 117 180 was a really bad trade for two reasons. If you look, earlier in the chart, we kissed 117 175 and came back for my 3 tick net profit target. My order wasn't filled. Then we spiked up through 117 180. I should have known that the "for first approach only" had already...

I don't know that I would have taken this trade so late in the day but it does demonstrate the power of my posted levels.

1111 EST Whew! I really had to fight for today. I'm done. The update is net 212 USD. Trading small size because of Bernanke. First trade was +60 or so. Got up to +160 or so, then had a setback, finally with two trades ended at +212. You have to know when you are off and stop. Also...

Out at 117 210. Ouch. A little too much strength. I did try to get out with a tick profit but wasn't filled.

1030 EST Short at 117 180.

The above was one of the hardest lessons for me to learn. I want you to know though that I'm not arbitrarily picking a number. By analyzing thousands of my trades I've determined that trades generally go in my favor 3 - 6 ticks. I compromised and took the lower end of the range as my default...

0949 EST To give you an idea of some of the things every trader will have to face and come to grips with, I very badly want to sell into this decline. My problem is price is at 117 145 and there is no point in it. If you have been studying this market for a long time, you know that the big...

0938 EST Hourly wave count negative. Hourly WGSR still positive. 15 min wave count negative. 5 min WGSR negative. My next 1 - 2 plays will be short and then I'll call it a day. Looking to short 117 180 for a first approach only. Price is at 117 145. The longer term trades...

0931 EST Out at 117 215. My entry was 117 175. I think we can go higher to 117 240 or even higher, but I never pass up a 4 tick net profit, at least on half. I got out completely because of targets. 5 min remains long. 60 min remains long. Let's see if we have a V day.

0928 EST 117 205 is my MP POC so need to be careful now.

0924 EST Best guess is that the lows are in for now and that we rotate back up to 117 240 at a minimum. I'm scalping long in here, i.e. anywhere between 117 160 and 117 190.

0852 EST The trade of the day was the buy at 117 140, without a doubt. Well, no sense dwelling on it. My hourly bias is long. My 5 minute bias is long. For now I will sell a first time approach only to the following levels: 117 290 I will buy a first time approach to the...

Yes, you are right. I need to be very careful as it becomes a chore after awhile. Not to mention that I'm trying to do this in a professional manner for 3 - 4 hours. I'm going to get my levels and times posted and concentrate on trading.

My bad. Sorry. Yes, quite the move today. Today was definitely a day of redemption if anyone was going into it with a loss.

0841 EST This is going to sound confusing, but here is my analysis. Prior to my short I was going to post that I would like to be a buyer for a first approach of: 117 140 then we starting tanking and I decided to sell a retracement off of my 5 min chart at 117 200. Well, obviously...

0839 EST Out at 117 155 and 117 160. Still think we will at a minimum go lower but forced myself out for discipline. I need to regroup for a moment.

0836 EST Replies coming later. Tried to short 117 200, chased it down to 117 170. Terrible entry, will exit quickly if necessary. Target is low of day.