Es - 10/29/03

nasdaqmadness · Oct 30, 2003

You guys ever trade the ER? I have just started trading it a bit. Wow .. it has some great ranges and trends compared to the ES. Love reading your posts guys. I would like to visit your live futures chat room some time. keep up the good work

Mike

Atlantic · Oct 30, 2003

Quote from AMT4SWA:

Today was as follows after a full review (25 trades for + 17.0 pts per contract for 10 ES) ;

1 Loser @ -3.50 pts
1 Loser @ -1.00 pts
1 Loser @ - .50 pts
1 Flat @ 0.00 pts
2 Wins @ + .25 pts
2 Wins @ + .50 pts
2 Wins @ + .75 pts
8 Wins @ +1.00 pts
2 Wins @ +1.25 pts
3 Wins @ +1.50 pts
1 Win @ +1.75 pts
1 Win @ +2.25 pts

My biggest loser (-3.5 pts) was a SHORT position I covered at the end of the day that I decided not to hold overnight. I took a lot of small hits today that I do not normally go for but the range was tight today so I made adjustments.

Chris

impressive - with results like these on such a day you are da man - what is your stop size - what timeframe?

+17 pts - would you say it was a good day - what's your avg/day?

Walther · Oct 30, 2003

Quote from AMT4SWA:

Today was as follows after a full review (25 trades for + 17.0 pts per contract for 10 ES) ;

1 Win @ +1.75 pts
1 Win @ +2.25 pts

My biggest loser (-3.5 pts) was a SHORT position I covered at the end of the day that I decided not to hold overnight. I took a lot of small hits today that I do not normally go for but the range was tight today so I made adjustments.

Chris

Thanks for a great info ! Would you, please, post time of your 2 winning trades from above ?
Thanks,
Walter

dbphoenix · Oct 30, 2003

Quote from gerry875:

impressive - with results like these on such a day you are da man - what is your stop size - what timeframe?

+17 pts - would you say it was a good day - what's your avg/day?

Not to take anything away from Chris' results, but yesterday was an unusually easy day in that, while the range was narrow, it was "clean", i.e., there were a number of intentful moves from one side to the other. This made it possible to rack up twice the day's range or better.

Obviously, not every day is like this, or at least hasn't been.

dbphoenix · Oct 30, 2003

Quote from dbphoenix:

Not to take anything away from Chris' results, but yesterday was an unusually easy day in that, while the range was narrow, it was "clean", i.e., there were a number of intentful moves from one side to the other. This made it possible to rack up twice the day's range or better.

Obviously, not every day is like this, or at least hasn't been.

In fact, I didn't play the gap closure today and so far haven't made a dime. So there you are.

sulong · Oct 30, 2003

Quote from dbphoenix:

In fact, I didn't play the gap closure today and so far haven't made a dime. So there you are.

db,
I found the gap play some what obvious today, meaning that I figured the market would move in one direction or the other, with intent.
So I'm curious as to why you didn't play the gap? Did your analyst of todays likely market action keep you out? If so, what didn't you like about the open? Or was it something else?

sulong

dbphoenix · Oct 30, 2003

Why did you think it was obvious?

sulong · Oct 30, 2003

Quote from dbphoenix:

Why did you think it was obvious?

The part that I thought was obvious was a strong move in one direction or the other.
I was aware of the announcements this morning, after which the price went to a test of the high of the month, which created the gap for the NY open. yesterdays NR ( not likely to do that two days in a row).
If the price were to keep going up it would have to exceed 1446 or so.
The hypostomus OMV indicator pointed to volatility for today.

NeedHelp was looking to learn how to go long.

sulong

AMT4SWA · Oct 30, 2003

Gap close today ROCKED! Entered Shorts in early morning at 1054 (prior to the open) and then right out of the open at 1052.25 and 1051.75. Rode those baby's down for some great profits today. Still playing...will be back later.

Walter - I will get that for you! Be back later to enter.

Chris

dbphoenix · Oct 30, 2003

Quote from sulong:

The part that I thought was obvious was a strong move in one direction or the other.

Well, yes. But that doesn't tell me which way.

I learned long ago not to trade according to my feelings. If the setup isn't there, I leave it alone. And gap closures have hardly been a lock lately.