Search results

Argh!! For the second consecutive day I've gotten into great positions that went all the way to my original profit targets...just I wasn't along for the ride. :( Today's second trade: 2:29 EST SLD @ 899.75 2:40 EST BOT @ 899.50 +.25 using price movement relative to the 1:30 pivot price...

I just wanted to say a few more things about scalping. I'm sure there are a select few who have figured out how to make consistent profits from scalping ES, but for me, I just couldn't make it work. I only started making money from ES when I switched to trading the intraday swings about a...

Thanks for mentioning that. Actually, the gap fill was something that was on my mind. I forgot to mention that as one of my reasons for exiting. ES got up to 898 while I was holding it this morning and just could not get above it. When the price started to retreat from there, combined with...

Thanks for the encouragement!! I certainly will continue. 11:00 EST Update Well, I got up really early this morning (5:10 Pacific time - I live on the west coast) to possibly enter a quick momentum scalp after the CPI and trade balance numbers came out at 8:30 EST. The futures barely...

Db & wally, thanks for the input!! [/b] I've never tried applying BBs to the TICK. I'd love to hear more about how you use this indicator with TICK. I also find it very interesting that you apply multiple mechanical systems to the same instrument (ES). Looking forward to "Should you trust...

Yes, and what a trick it IS!! Most of the time it's hard to tell the difference. db, do you have any techniques for differentiating between reversals and chop?

The futures opened today above the R1 level of 914.5. I'm usually hesitant to enter a position during the first 10 minutes of the trading session, but there was immediate selling pressure and I sold short as ES was dropping down through the 914.5 level. My target was the 904.5 pivot point...

Stock is showing too much strength relative to the futures. I'll cover here.

Sell at a price that is higher than the price at which you bought. :D

Wally, those are all very good questions. I'll do my best to answer them for you. 1. I will admit that I have not been trading these techniques for a very long period of time, so my results ought to be taken with a grain of salt (afterall, I might just be getting lucky). But here goes...

I call Method #3 "The 1:30 Pivot Method." This concept was first brought to my attention by Tom Busby. It is more discretionary than the previous two techniques, but it offers large profit potential when properly executed on days when the market has a late-day surge or plunge. Here's what...

Db, that's only because it wasn't a trading day!! LOL!

Method #2 is playing reversals off of support and resistance levels. I use the traditional system of calculating the daily pivot point, along with the primary and secondary support (S1 and S2), and primary and secondary resistance (R1 and R2) values using the previous day's high, low, and...

I have three main types of trades that I take. The first is the opening 30-minute range breakout/breakdown. This is by no means a new or fancy method, but it works for me when the conditions are right. Best of all, it's easy to implement. You simply mark the high and low that ES makes in...

Background: I first started trading full time in April of 1997. In those days, trading was like printing money. All you had to do was buy hot tech stocks on dips and you were virtually assured of making a profit. Although I had only read one book on trading and had no prior experience, I was...

Maybe you should rig up your trading software so that the BUY button sells and the SELL button buys!! Also, widen your stops and tighten up your profit objectives. Seriously, if you are really CONSISTENT with your losing, I mean day in and day out you lose with consistency, it stands to...

Yes, it's like having your monkey trading assistant do your entries for you, and it's up to you to handle what positions he puts you into. The monkey idea was brought up by someone else on another thread. The premise was: Would you rather pick your own entries and let a monkey handle your...

IB offers fast executions and has the lowest commissions I know of. I may be in the minority here, but I've actually found their customer service to be pretty decent. This is especially true of their online one-on-one chat room customer service. Instead of talking on the phone, you type back...

Stop 34.81 Target 34.01 Trail stop every 20c in my favor Although the futures and the stock are both in a downtrend, I feel like I've chased the stock down too much. That's the reason for the tight stop. Still, I would like to see if I can ride the downtrend a little further. That's why...

Well it looks like it might be on the verge of a breakout. But realize that a lot of potential breakouts end up being false breakouts. One thing I noticed was that volume was not all that much higher than average today. True breakouts tend to occur on very high volume, so that is something...