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Thanks for the suggestation. It makes a lot of sense. I had thought about that where I reduce the size by half when I get 4 pt. profit and leave the other half and reduce the stop by 2 pts. This way I'm guranteed to make 2 pts even if the market reverses. I'll do some backtesting and update.....

Sold @1275.5 Stop 1279.5

Updated Value-range 1275.5----1276.5. The value-range has been moved down again due to the over-night price action in the ES.

The range for tomorrow is 1277-1278. I will look for an opportunity to short at around 1277 unless the market opens at 1281 or better. There were two ranges for today 1287-88 and 1279-1280. The market was unable to come close even to the lower value-range. This is not a good time to be long...

I did not really chase the market. My entry was 1 point below my plan and my stop was 3 pt. above the value-range. The reason I decided to offer at 1278 was because of the price action that I had noticed in the past few weeks. For example: The value-range on Feb 28th was 1297.5-1298.5. On feb...

Closed 1277

This morning I realized that there was significant volume at 1279-1280. I had wanted to go short at 1279 but in the first hour after the market opened, it did not come to 1279. The high was 1278.5 and the low was 1274.5. 70% of the time the 1st hour high ends up becoming the high of the day...

sell-limit moved to 1278 stop 4 pts.

I just noticed that there was significant volume that changed hands around 1279-1280. If the market opens below 1279 at 9.30, I'll have my sell limit at 1279 with a stop at 1283. If it is above 1279, I'll see if I can get 1281-1282. Won't be able to post for the most of the day.

Here is what I'm going to do today. I'll take the (9.30 Open for ES + 1287 )/2 as my sell-limit order with a four pt. stop.

I have been going through the price action for the past 6 months and I noticed that when you enter a limit-order, if you're not filled in by 12.30 EST, cancel it. The current price is already away from your limit price and if it comes back to your price it could be a reversal.

Wow... The Value-ranges worked as a resistance today. Although I usually buy if the price opens above the value-range, I had decided not to do it because of the overhead resistance at 1289.5-1290.5. It turned out to be a good decision. Plan for March 07, 2006. 1287-1288 has been identified...

It opened at 1289.25. So there is no signal for today.

973.644.2400.

You're correct. If it is a very strong market without much retracement, this strategy will not make money. In such cases the entries have to be modified. I have noticed that if the market opens up or down more than 6 pts, it will probably not come back to the range and if it does, it could be a...

Here are the value-ranges from Feb 02. 02/02---1282.5-1283.5 02/03---1272-1273 02/06---1268-1269 02/07---1267.5-1268.5 02/08---1257.5-1258.5 02/09---1267.5-1268.5 02/10---1273.5-1274.5 02/13---1262.5-1263.5 02/14---1267.5-1268.5 02/15---1267-1268 02/16---1281.25-1282.25...

I checked-out this web site and they have the volume by price information and it seems pretty close (although not exact) to what my analysis shows. The difference could be due to the fact that I use big S&P volume numbers whereas they use actual emini numbers.

I bought his books. Not only I wasted money but I wasted my time reading it.

Thanks, looks pretty good. The numbers are pretty close to what I've come up with. I'll watch that web-site more closely.

Okay.. Here's an example(not an actual trading day) and this will probably make more sense. The price and volume numbers are random. Basically what I do is that I want to find a price-range where most of the volume traded place. The price range is usually 1 pt. The top and the bottom of the...