Brent's Journey to success Journal

Didnt quite expect the magnitude of mondays move but i was correct in calling the continuation of the bull move. Call me a bear I dont care but i have a feeling that we get a slight correction on Tuesday. Nothing big, im still bullish overall but a correction none the less.

Look for Support at 12740, 12700, and 12640. If we break a zone look for support at the next zone. We could see a consoliation at 12740 which will be characterized by rounded edges at the bottom and top of the range.

Look for resistance at the 12890, roughly the high of the day and 12900 will remain resistance also. Dont short the freight train allow it to run out of gas before you throw your money in front of it.

I am going to try to trade the afternoon session so look for me to post some trades!

As always, Happy trading.
 
Been a while since i posted an update. Been pretty jammed at school the past couple weeks and havent got a chance to watch the market as much as i would like. For now i am going to abandon the market commentary as i got pretty much no responce but thats ok because I was only ever writing it for myself anyway.

Still no idea where im working this summer. The entire internship process is extremely draining mentally and emotionally also. Probably best not to count your eggs before they hatch because getting your hopes up can only really lead to dissappointment.
 
I really felt the need to post this. I was watching the YM trade this morning. I felt bearish in the immediate short term but i knew that the big trend was up. After speaking with my mentor last night i realized that my edge is not in exploiting these small counter moves but rather the grand big picture.

I knew the short term trend was down but knew this was no market to be short in. I decided to wait for what is a likely good pullback spot. So orginally going into today i had these levels for today

Support - 13310 and minor support at 13330
Resistance 13350

So I watched today as be broke 133110 and realized this is just a correction. I determined the next 2 key supports were 13270 and 13240. Sure enough 13270 was the EXACT BOTTOM, the problem is i dont have the balls to get in there at that low and buy it. It is SO GUTSY but it proved to be the right play!
 
Well you know the saying good things come to those who wait. All i can really say is about time. I do have an internship for the summer secured. I start monday the 4th.

I will be interning for a large brokerage firm, one of the largest in the world. Based on what i heard from the interview it will be similar to what I did at my previous internship. Not a whole lot market related but i still get to put that name on my resume and that will help immensely.
 
So my internship is going pretty well. I work for a very sucessful team. Its interesting because styles absolutely could not be further apart. My team uses the mutual fund model approach opposed to using individual stocks. Its an interesting business model that focuses on a niche client group and providing a level of service the clients would not get elsewhere.

I am also spending time working with another team that does a lot of options trading, in particular selling volatility and time. Its nice to spend time seeing how different ways a business can be run. As for me personally I am still hell bent on being a trader working on a desk.

It looks like this fall or winter is going to be my shot at going live in the markets. This fall i am able to take night classes which will allow me to dedicate the screen time necessary to trade the YM the way I want to. Right now I am comfortable with my strategy and my SIM results and by the end of the summer I will only be more reinforced that i am indeed ready. I have about 75% of the bankroll I would like before I go live.

I am looking at Greenstreet/alaron, tradestation for my brokers.
 
Quote from nkhoi:
07-17-06 11:21 PM

in general, by writing your goal down you will force thing moving your way at warp speed...
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you have done it in less than 1 year, good job:D
 
So I start this journal a year ago and it is really amazing how much you can learn in a year. Things certainly are better for me a year later. I am just about ready to start trading the dow mini. Only thing that is holding me back now is fulfilling prior commitments on my internship. I have my desired amount of capital ready for when i go live.

Will post a follow up in summary about my progression over the course of a year.
 
Hey guys i start trading on monday.

My starting equity is $3000, my gameplan is to start out with 1 contract until I feel comfortable then i will go to 2 contracts.

I am using Jtrader platform with global futures as my broker and clearing through RCG.
 
Quote from bigbrent701:

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I am using Jtrader platform with global futures as my broker and clearing through RCG.
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I used jtrade/GF before it was lagging during fast market. Hopefully they have improved the software otherwise you should stay away from fast market.
 
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