To the tick (1407.50). Never ceases to amaze me, but profitable nonetheless.
Good weekend all.
ES Journal - 2012
- Thread starter Buy1Sell2
- Start date
- Status
To the tick (1407.50). Never ceases to amaze me, but profitable nonetheless.
Good weekend all.
Bid - Ask spread
Support - Resistance (Range)
ATR
Support - Resistance (Range)
See how it works, the most minute support resistance is the current Bid-Ask Numbers..
You look at daily data and create price intervals of 20 points 40 point or another number ranges or ATR's, so when price moves into a certain range or ATR, basically position trades should be buying the bottom ATR and selling top of ATR.
So our current range is 1395-1415, even though you give up the spread on entry and exit (bid-ask) you can still 'market make' at ATR ranges.
so buy stops above the ATR, sell stops below the ATR, to capitalize on the price moving into another ATR, and buy and sell within the ATR.
if a scalper in the pit is hand signaling the current bid-ask, and floor broker hits his bid, the scalper immediately offers at the ask, and another floor broker takes his ask, thus he made the spread. If the bid is hit and price shifts down, and his bid turns into the current ask price, the scalper will immediately offer at the ask to get out at breakeven.
Thus if you sold within the ATR at the top your immediately trying to buy it at the bottom of the ATR, but if price breaks the top of the ATR, you immediately have to buy outside the ATR top range to get out or reverse.
The algos effectively created a ATR scalp range, selling and buy repeatedly at the borders within the ATR.
Support - Resistance (Range)
ATR
Support - Resistance (Range)
See how it works, the most minute support resistance is the current Bid-Ask Numbers..
You look at daily data and create price intervals of 20 points 40 point or another number ranges or ATR's, so when price moves into a certain range or ATR, basically position trades should be buying the bottom ATR and selling top of ATR.
So our current range is 1395-1415, even though you give up the spread on entry and exit (bid-ask) you can still 'market make' at ATR ranges.
so buy stops above the ATR, sell stops below the ATR, to capitalize on the price moving into another ATR, and buy and sell within the ATR.
if a scalper in the pit is hand signaling the current bid-ask, and floor broker hits his bid, the scalper immediately offers at the ask, and another floor broker takes his ask, thus he made the spread. If the bid is hit and price shifts down, and his bid turns into the current ask price, the scalper will immediately offer at the ask to get out at breakeven.
Thus if you sold within the ATR at the top your immediately trying to buy it at the bottom of the ATR, but if price breaks the top of the ATR, you immediately have to buy outside the ATR top range to get out or reverse.
The algos effectively created a ATR scalp range, selling and buy repeatedly at the borders within the ATR.
Lots of reasons - Used double the leverage that I should have used, missed a trade early in the week that affected my psyche for the whole damn week, traded NQ post AAPL release - it was a bad decision. And was too eager to get long, without waiting for a clear bottom to form. Had I waited for the right moment to get long, I would have made money on Wed, Thurs and Friday instead of losing.
sounds too simple to work, but if you sit and play hearts,freecell, and solitaire all day while you are bored with the market,you will have no delusions about the odds of success and how simple it is to make a mistake and lose,you will learn losing is a predetermined certainty and accept it. You will also learn to minimize the chances taken as you know how rare they work and how often they don't,and to wait for setups,discipline by osmossis
More great advice Ammo.
I prefer blackjack myself, keeps me from gambling in the market. I will also goof around in a simulated account while keeping my real powder dry waiting for entry points with high probabilities.
I prefer blackjack myself, keeps me from gambling in the market. I will also goof around in a simulated account while keeping my real powder dry waiting for entry points with high probabilities.
10-09-12 08:38 AM
09-19-12 09:36 AM
09-14-12 08:47 AM
09-07-12 10:22 AM
09-05-12 08:17 AM
08-29-12 07:29 AM
08-27-12 08:11 AM
08-23-12 07:44 AM
08-17-12 08:40 AM
08-10-12 09:18 AM
08-07-12 09:45 PM
08-07-12 07:56 AM
08-06-12 07:44 AM
08-03-12 07:41 AM
08-01-12 08:37 AM
07-31-12 08:24 AM
07-30-12 08:31 AM
07-27-12 09:11 AM
07-26-12 07:57 AM
07-25-12 08:14 AM
--Have buy stop in to enter at 1358.00 with 2. If hit, I will enter and post protective sell stop.
-- If tagged today, then initial stop will be 1317.50
--Trade was stopped in long. Initial protective sell stop is 1317.50 and I will reverse and be short when stopped.
--Protective/reverse sell stop raised to 1325.50
--No change today (Tues 7/31/2012)
--No change today (Wed 7/31/2012)
--No change today (Fri 8/03/2012)
--Stop remains the same today (Mon 8/06/2012)
--Stop moved to 1348.75. Will reverse there as well. (Tues 08/07/2012)
--Stop moved to 1358.50 (Tues 08/07/2012)
--Stop remains the same today (Fri 08/10/2012)
--Stop moved to 1384.50 (Fri 08/17/2012)
--No reason to move stop closer to the noise yet. Stop remains the same today (Thurs 8/23/2012)
--Still don't see any reason to move stop just yet. (Mon 8/27/2012)
--No reason to move stop (Wed 8/29/2012)
--Stop remains the same (Wed 9/05/2012)
--Stop moved this morning to 1389.25 (Fri 9/07/2012)
--Sold Sep position today at 1463.00 for 105 pts profit per contract on this leg.(Fri 9/14/2012)
--Entered long at 1456.75 in Dec contract essentially rolling my Sep position into Dec. Initial stop is 1409.50 (Fri 9/14/2012)
--Stop remains the same for now. (Wed 9/19/2012)
--Market remains in consolidation and have not found fit to move my trailing stop yet. (Tues 10/09/2012)
--Stopped this week and now short with 2 at 1409.25. Loss on Dec contract month was 47.5 pts per contract. Net gain on this trade therefore was 57.5 pts minus 2 RT commissions per contract.
09-19-12 09:36 AM
09-14-12 08:47 AM
09-07-12 10:22 AM
09-05-12 08:17 AM
08-29-12 07:29 AM
08-27-12 08:11 AM
08-23-12 07:44 AM
08-17-12 08:40 AM
08-10-12 09:18 AM
08-07-12 09:45 PM
08-07-12 07:56 AM
08-06-12 07:44 AM
08-03-12 07:41 AM
08-01-12 08:37 AM
07-31-12 08:24 AM
07-30-12 08:31 AM
07-27-12 09:11 AM
07-26-12 07:57 AM
07-25-12 08:14 AM
--Have buy stop in to enter at 1358.00 with 2. If hit, I will enter and post protective sell stop.
-- If tagged today, then initial stop will be 1317.50
--Trade was stopped in long. Initial protective sell stop is 1317.50 and I will reverse and be short when stopped.
--Protective/reverse sell stop raised to 1325.50
--No change today (Tues 7/31/2012)
--No change today (Wed 7/31/2012)
--No change today (Fri 8/03/2012)
--Stop remains the same today (Mon 8/06/2012)
--Stop moved to 1348.75. Will reverse there as well. (Tues 08/07/2012)
--Stop moved to 1358.50 (Tues 08/07/2012)
--Stop remains the same today (Fri 08/10/2012)
--Stop moved to 1384.50 (Fri 08/17/2012)
--No reason to move stop closer to the noise yet. Stop remains the same today (Thurs 8/23/2012)
--Still don't see any reason to move stop just yet. (Mon 8/27/2012)
--No reason to move stop (Wed 8/29/2012)
--Stop remains the same (Wed 9/05/2012)
--Stop moved this morning to 1389.25 (Fri 9/07/2012)
--Sold Sep position today at 1463.00 for 105 pts profit per contract on this leg.(Fri 9/14/2012)
--Entered long at 1456.75 in Dec contract essentially rolling my Sep position into Dec. Initial stop is 1409.50 (Fri 9/14/2012)
--Stop remains the same for now. (Wed 9/19/2012)
--Market remains in consolidation and have not found fit to move my trailing stop yet. (Tues 10/09/2012)
--Stopped this week and now short with 2 at 1409.25. Loss on Dec contract month was 47.5 pts per contract. Net gain on this trade therefore was 57.5 pts minus 2 RT commissions per contract.
- Status