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1-12-2010 total number of trades: 8 winner: 4 loser: 4 net P/L: -0.5 Started trading at 12 ET closed all trades at 3pm Although it is negative today, I am actually quite happy with my judgement and overall execution. I made a mistake early entering a wrong order and took 1 pt loss...

Due to my limited experience, I am not comfortable trading the first 90 minutes at open due to high volatility. Some traders would suggest to reduce the captial committed or exposure when the market volatility is high. I have been doing some study and reseach regarding trading the early session...

Thank you for the suggestion. My day job schedule would prevent me from trading until ~1pm most of days. You are correct that most consolidation (barb wire, whipsaw zone) occur during lunch time. I believe the market is really telling a trader when to get in and when to get out. The question to...

After suffering some big loss from last Thursady and Friday, I went over my trading rules and trading methods again over the weekend and try to resynchronize myself with the market. There are many people calling tops over the last several days. It is very possible that a intermediate...

1-8-2010 Total trades: 6 RT winner:1 loser:5 net P/L: -3.5 pts I got up early and tried to trade the openning. Since there was a big price drop at employment report. I thought the openning might be a bear flag and entered short. Price moved quite fast and I was stopped out by 2.5...

Hello all. I just found this very interesting thread. Bone has openned my eyes. I've done some statistics study with SPX/DOW daily price data since last night. If you plot daily close spread between SPX and DOW, it is a unbelievably amazing divergency indicator for SPX/DOW price movement...

On SPX minutes chart, it shows a nice inverted triangle with rising hypotenuse. This could be a minor reverse pattern according to Schabacker. Also some people would call it expanding diagonal since the bottom is not perfectly horizontal and it is also rising less steeper than the hypotenuse...

1-7-2010 Total trades: 6 RT winner:3 loser:3 net P/L: -1.75 pts I am completely out of synch with the market today. around 11:45, entered short ecxpecting a little more pullback. But the pattern also looked like a bull flag. I set tight stop (0.5) right outside the upper bullflag...

So far, I am breakeven in my future account after all the commissions. It cost me 5 USD for every RT. I feel I am gaining some experience on price reading as well as trading. I understand it is going to be a long journal and I hope it will eventually lead to my goal. Well, trading is more or...

Hello, increasenow, I trade ES exclusively for now. I might try YM due to its small increament (5 USD per pt) as long as I trade small contract size (liquidity concern?). I trade only one ES contract 95% time now. I will occasionally add second one if I am seeing extremely good setup. I...

Ok. It is 3:44 and I am done for the day. It is a little strange that there was not much volatility after FOMC minutes released. Total trades: 7 RT winner: 5 loser: 2 net P/L: 1 pt I didn't initiate any trades within 15 min to 4pm. I got a lesson yesterday though my judgement was all...

01-06-2010 Today is FOMC day. So I expect the price will be in very tight range 1-1.5 hurs before 2:15. SPX pivot zone is 1133.1 to 1135.4. SPX tested lower pivot zone for the first 30 minutes after open and found support. Price made new high afterwards. I started around 11 ET. Price...

Ok, since all indices made new 52-week high either yesterday or today. I did some statistics study on SP500 daily price range breakout (Donchian channel) from 2000-2009. I used range 10, 15 20, 30 day 6 month and 12 month. The first breakout day is labeled day one. If next day (the second...

I am reviewing intraday charts of YM and ES again after market close. On 2 min YM chart, it was a triangle with false break out to downside. Price reversed at the moment where apex forms and broke up thru extended triangle lines. The final move was at the same direction from yesterday's price...

I usually close all my positions 10-15 min before 4pm. Apparently, I've violated my own rules today by initiating a new position at 3:40, but didn't close it until market close. With the vol spike at 3:45 and TOS of SPY, the swing high should be very close to 1132.5. The pull back is very...

1-5-2010 Total trades: 8 RT winner: 6 loser:2 net P/L: 1.5 pts Started at 11:30. After market made new high (all three indices) yesterday. Today most likely would be a range bound consolidation day. ES open range 1129.5 to 1127 (I use first 15 min) ES dropped to 1125 (38% fib...

01-04-2010 Total trades: 5 RT winner: 3 wash: 2 Net P/L: 1.5 pts SPX gapup open and traded above pivot zone 1117.14-1121.25 immediately and well above it for the entire day. ES openned right above the top congestion range ~1119 from previous trading session. Started trading at...

You are correct. I've done some live trading since I posted this thread some time ago. If last trade prints below your bid, you limit buy order is filled as buy on ask. My real experience is if you want to get in a trade quick, buy ask and sell bid when placing limit order. There might...

I thought the equity market would close at 1pm ET. Nice move after the price break out of the congestion area. Last three day's pattern has formed nice down-consolidation(traingle)-down trend resume pattern. Tueday and today's intraday pattern are also very nice morning down/middle day...

12-31-2009 No trading today since I had to be away from computer until 9:30 pacific time. It looks like yesterday's close was an overthrow above the triangle (false breakout). When the price fell below the bottom of the triangle, it was supposed to be a good short trade.