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I was thinking I would trade it overnight and then when I wake up see what happens. If there is a major news event (planned), I will either be up before it, or not place a setup that night.

I was thinking that I would use 2 contracts. Targets would be 5 and 10. If the first target is hit, I would move the stop to breakeven.

Still papertrading that strategy. I did get a short off at 1292.50 but didn't post it live...

Stopped out this morning, looking for a reentry.

I know that Volente supports this methodology but I haven't factored it in at all.

I see what you are saying now (along with Pekelo and NoN). I admit to human error on this one. I've been thinking more about this today and I think I will start trading it with actual account and go from there. That way human error will be factored in completely. Also, then we can...

I'm going to put out a small short here. Good risk/reward area. Short 1278. Stop 1286 Target 1251 I see 200 EMA on the 240 chart right at 1278.50 Also I'm using a stop just above Tuesdays high.

This trade was stopped out, -3.25. Results so far 7 of 17 +34.25

Agree 100%, but there are still some good risk taking opportunities at the shorter time leves both long and short. I'm sure I'm not the only one selling calls above the market.

Hahaha I hope so.. just seemed like both you and regal/blackguard post around the same times. I guess its just a coincidence. My apologies.

I'm confused I got so much going on that perhaps I missed something. I didn't use the reaction high in the area of 1275 because of three spots 3:00AM, 4:50AM, and 8:30 EST 5min bars.

I think this is the next evolution of the journal. Perhaps I will trade with real money shortly. I might use my backup futures account (Infinity AT) and then I ll just post a statement every night. The only problem is catching trades overnight and early in the morning as I'm on PST.

Looks like we just missed that short entry by a tick. :( No entries long overnight as we did make some new reaction highs. I'm using the 3:00AM EST 5 min bar, hence no long entry. We just got short from the overnight reaction low at 10:20AM. Short 1273.25 Stop 1276.25 Target 1263.25

Wonderful! I'm glad this journal is going so well.

Thanks Billy! As far as reaction highs and lows it is a bit subjective as I'm learning. One I use the 5min chart, that way I can see the action. Sometimes on a 15min chart, you cant see a good reaction. To me a reaction is at least 4 points and happens very quickly, say in the next...

I try to post in advance but I was working on a few other things here and wasn't watching the market. Sorry. Yea I would have the short ready at 1275.75 as that was the last reaction high. Did not get hit yet.

Just touched my stop :( flat now. ps. Don't you know Regal/blackguard is Volente's alter ego (at least that's my guess based on past posting history).

Market got our stop. -3.25 (.25 is for commision and slippage) Journal results 7 of 16 +37.50 total points

Looks like we got quite a battle here around 1270, buyers are coming in at 1266 and sellers at 1272. Edit: I jinxed it :)

Just got our long fill. Stop 1263.75