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This market is no fun! I resisted the temptation to go for the ES pop at 7:00a.m. since the Nasdaq didn't follow, and later went long near the lower end of the 30-min range, only to be stopped out and reversed at 909.50. I was planning on a down day until the magic (institution) number was...

12/03/2002 Trade #1 Went Short @ 925 anticipating a sell off after 30-min range was broken to downside, and the market looked weak. Covered a short time later at 923.50 after the buying came in heavy and I figured we’d go into a range. I was wrong, we dropped another 5 + points, but it...

Can you show a chart of what you're talking about Wally? And what is FR (first reaction?)

Looking for a mid-day rally here, since there are so many shorts on board already, but little downward momentum. Could get good rally if some stops are popped. Long @ 923 with tight stops.

So why is Gann superior Sarasota? Aren't they similar? I don't know much about either so forgive my ignorance. Regarding Wally's trading method on the first 30-min bar, it seems the market changes every 3 months, so proving longevity of the method would be more impressive than a couple...

Are you taking over Seanote's journal Murray? We'd be interested if you started one.

Thanks, I need a few more good days to get back November's money, otherwise I'm skipping Santa and going to garage sales for gifts. :)

I only use it on gaps, and only in fading a gap. My first trade otherwise is getting in near yesterday's close. I haven't tested the 30-min break trade by itself, but what kind of stops did you use in your testing? On my system I would start out with my stops at the other end of the extreme...

12/02/2002 Trade #1 Went Short at break of first 30-min. bar at 947.75, covering after first bounce off pivot at 937.50 for a gain of (10.25 x 2 x 50=$1,025). Trade #2 Went Long on the mid-day breakout at 939.25, but realized things weren’t going smoothly, and tightened my stops...

11/27/2002 Final for Month of November 2002. Trade #1 Went Short at 938.25 in morning with break below first 30-min. range, but was forced to cover at 941.75 for a loss of (3.50 x 2 x 50=($350.00).. The system reversed and went long at 941.75, but was stopped out at 938.75 and flipped...

Good stuff Acrary!

You guys haven't been to the "Sell Your Soul to the Devil" seminar have you? You too can do 20-30 points (big contract) per day, if you are willing to endure some heat later in life. The one caveat is you can't give hot tips during your life time--only after. :D

I hate the non-trend days. :D

Another thing to consider is speed in execution. I believe using the stop limit to enter a breakout trade is superior to a stop market in that your order is sitting on the globex servers. Onelot said he had two points of slippage the other day playing the 30-min break with a market stop. So...

Yes, good point Alan. I suppose you could widen the limit range beyond 3 points to lower that probability. I've personally been stuck with a Market stop while IB's been down twice now, and they don't work in that instance either. Luckily IB refunded one of them. I guess you have to determine...

Did one trade today, since all the recent holidays seemed to trend well. Went short shortly after the 30-min range was broken on the downside with 2 contracts at 938.25 and was unfortunately stopped out during the lunch hour at 941.75 for a loss of (3.5 x 2 x 50=$350). I should've put my...

Here's my journal entry: Caught short with wide stops. http://www.elitetrader.com/vb/showthread.php?s=&threadid=10441&perpage=6&pagenumber=7

Onelot, you can make the market stops native, read my thread: http://www.elitetrader.com/vb/showthread.php?s=&postid=163493#post163493

Many people using Interactive Brokers don't seem to know that you can use Native simulated market stop orders on Globex with Interactive Brokers. They do have their own simulated market orders which reside on their (IB) servers, but this isn't ideal if they happen to go down, and they are...

Onelot, IB does use native Stop Limits, but the market order stops are on IB's servers. It goes green when its accepted by Globex.