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Here is Euro and Aud charts for today's explosive premarket action. Btw, new home starts/new permits data was out today morning, beat expectations handsomly. This also fueled the rally. It seems that yesterday price action was all that was needed for bears and now we go only up from here...

First Trades for this journal: Long 200k AUD @ 1.0038 Long 2 ES @ 1216 Long 200k EURCHF @ 1.2171 Short 100k EUR @ 1.3110, Order to Add 200k @ 1.3148 and 300k @ 1.3198 Total Margin Used: (Using overnights and currently not offsetting margin like being short 100k Euro and long 200k...

First, this is going to be a paper trading journal. I already have another journal in which I maintain my real account performance(FX+ES trading). Why A New Journal: This journal will help me develop my skills as a swing trader and help me improve my portfolio management skills. The real...

Hello, I am new also as far as ES is concerned. Basically someone else summed it up well. ES has broken through an important psychological level. No reason for it to not go below 1190 frankly, unless some good news comes in from Europe etc. Also pls read my earlier post on page 3768, where...

Out at 1199, was bidding at 1195, but price never reached there :(

sorry, but imo your trade will not survive afterhours. Let us see

Nice trade, emg!!:cool:

Well said, these macro news can come at any time and rip your trade apart. I got hit hard by Chinese rate cut and then swap rate cut 2 weeks back, I know it pretty well mate. They should be like companies which mostly announce earnings at set times. This is another reason why it is hard to...

Euro-zone finance ministers fail to agree to raise €500 billion EFSF/ESM joint ceiling. 19 Dec 15:05:23 Edit: This is delayed news, so time has to be around 1-2 minute before than marked. Co-incides with the move in ES. so i guess this should be the reason. only a guess!

Thanks for the level, I was actually looking for it. :)

There we go, should see 1196 before eod.

Alright, sent you a PM.

I understand the theory behind con/bkwrdation but never have really tracked them. Going forward, will be doing it. Thanks for the inspiration. Btw, which prop firm do you trade for ? Because it seems you hold positions overnight for multiple days at a stretch, whereas most of the propfirms...

Thanks Mav, that confirms my suspicion. But I guess I will keep looking at them, if for nothing else than to know what market is doing and what different sectors are doing.

Which futures contract would you trade if you want to trade SP500 financial sector ? Futures on XLF, has a very wide bid-ask, zero volume today. Worthless. Futures on SP500 fin sector underlying IXM, volume of 7 contracts today. Again useless. So, how do you express that SPY/XLF pair...

out at 1205.5. I was earlier once again. Anyways so thats the losing story! Now short 1206. for eod close. ES is not going higher today. There has been so much weakness in the market whole last week, but ES was unable to break 1207-1210 area, probably becoz of traders defending it due to...

for anyone : Do we have a futures contract on only fin. sector names in SP500, something like a futures contract on XLF like thing ? If yes, given the fundamentals going on, will be more productive to short that when you get a short bias on the overall market.

yes.

No buying power otherwise, would have taken one more long 1206.75. So, lets treat this as sim long. Target on this sim long 1208.75

Mav, where is your weekly A down on ES ?