15 minute open range scalp

Quote from arealpissedgoy:

There's nothing new under the trading sun.


http://www.elitetrader.com/vb/showthread.php?s=&postid=150200#post150200
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i was thinking of visually representing the current / past market state, maybe using an graphical extending valley with trees / colors, rocks, clouds, lighting, natural things etc for different market data. then hooking it up directly to a young live primate's brain forcing it to watch the visual representation. then you reward it by activating the gland that produces endorphins when it makes a profitable trade and cause it pain when it loses money. my hypothesis is that eventually the brain will configure itself to make net profit.

is that something new for trading? :D i think they did something similar with a rat and a flight simulator.
 
opening range on the YM today is 13275 on the short, and 13375 on the long side. According to the rules, we'll wait for it to hit either.

10 point stop, 10 point target, 1 minute time stop, after we get to 4 points positive, we'll move the stop to breakeven +1.
 
Worked on the ER as already stated. Just failed on the ES.
9:10 enter @1470.25 and stopped out 30 seconds later for 1 point loss.

Edit: 9:16 would have been a profitable trade had a more sensible stop been set considering a volatile market. 1/1 RR is way too tight for the market we're in.

Edit 2: Taking this trade long right at a pivot point probably ain't too bright either.
 
Quote from CaptainObvious:

Worked on the ER as already stated. Just failed on the ES.
9:10 enter @1470.25 and stopped out 30 seconds later for 1 point loss.

Edit: 9:16 would have been a profitable trade had a more sensible stop been set considering a volatile market. 1/1 RR is way too tight for the market we're in.

Edit 2: Taking this trade long right at a pivot point probably ain't too bright either.
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Some folks set their stop initially to be the other STOP entry, then adjust it accordingly once profitable.

Not me though, I'm too cautious to try that.
 
Pivot point for YM is 13384, near the target. The next highest resistance is somewhere pretty high, due to the volatility on Friday. Currently, still within the opening range, 13346.
 
We're at 777.5 on the ER2 so we have 5.3 pts before our short triggers.


My goal is to work my way up to 100 contracts on these trades ;)
 
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