You guys are trading what you see and sticking to your plans. Problem is, deeper pockets are in control so far.
I've read less than 20% of days are T-days, today is looking like one of them.
ES Journal - 2012
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You guys are trading what you see and sticking to your plans. Problem is, deeper pockets are in control so far.
I've read less than 20% of days are T-days, today is looking like one of them.
Quote from keeptradin':
Short from 10 is tempting indeed. Just seems like one of those T-days where they will continue to squeeze shorts higher and higher.
Too many levels along the way to the 1320 area for me to get in here. My best trade is no trade...
Agree.
Kudos if you manage to stick with that. I don`t at all times and it holds me back.
I had a sim short at 09,75 with a 2 tick stop. Glad it was a sim short.
This is exactly the kind of market I don`t like to trade, so I`m going to turn off my computer now and do something more productive.
It`s very tough to read it and next to impossible to enter when there`s no momentum to support anything. Just keeps drifting higher.
I`ve tried picking tops on days like this earlier and it usually goes nowhere.
EDIT: Could we reverse from here? For all I know, which is not much, we can. I just don`t see it yet and I`ve seen this type of day earlier. Beige book could induce some volatility though. The question is: Which way?
Interesting to note that as I watch the DOM there is a lot of volume on both sides of the trade, but not alot of actual trades being done.
I don't know much about algos, but would venture to guess there is alot of program trading going on right now. No place for us "paper" players to be, IMO.
I don't know much about algos, but would venture to guess there is alot of program trading going on right now. No place for us "paper" players to be, IMO.
Good idea, LF. How's the weather over there? Maybe a good time for an evening stroll?
Quote from keeptradin':
Good idea, LF. How's the weather over there? Maybe a good time for an evening stroll?
The weather is nice and sunny. Makes me wonder why the hell I`m sitting in front of this god damned screen watching ticks go up and down.
Whenever possible, I want to limit my day trading to the opening hours.
Have fun!
Quote from Laissez Faire:
The weather is nice and sunny. Makes me wonder why the hell I`m sitting in front of this god damned screen watching ticks go up and down.
Whenever possible, I want to limit my day trading to the opening hours.
Have fun!
Cloudy and rainy here in Florida...get out and enjoy the sunshine!!
Fed Beige Book Summary
Reports from the twelve Federal Reserve Districts suggest overall economic activity expanded at a moderate pace during the reporting period from early April to late May. Activity in the New York, Cleveland, Atlanta, Chicago, Kansas City, Dallas, and San Francisco Districts was characterized as growing at a moderate pace, while the Richmond, St. Louis, and Minneapolis Districts noted modest growth. Boston reported steady growth, and the Philadelphia District indicated that the pace of expansion had slowed slightly since the previous Beige Book.
Manufacturing continued to expand in most Districts. Consumer spending was unchanged or up modestly. New vehicle sales remained strong and inventories of some popular models were tight. Sales of used automobiles held steady. Travel and tourism expanded, boosted by both the business and leisure segments. Demand for nonfinancial services was generally stable to slightly higher since the last report, and several Districts noted strong growth in information technology services. Conditions in residential and commercial real estate improved. Construction picked up in many areas of the country. Lenders in most Districts noted an improvement in loan demand and credit conditions. Agricultural conditions generally improved, and spring planting was well ahead of its normal pace in most reporting Districts. Energy production and exploration continued to expand, except for coal producers who noted a slight slowing in activity.
Wage pressures overall were modest. Hiring was steady or increased slightly, and contacts in a number of Districts reported difficulties in finding qualified workers, particularly those with specialized skills. Price inflation remained modest across Districts, and overall cost pressures eased as the price of energy inputs declined. Economic outlooks remain positive, but contacts were slightly more guarded in their optimism.
Reports from the twelve Federal Reserve Districts suggest overall economic activity expanded at a moderate pace during the reporting period from early April to late May. Activity in the New York, Cleveland, Atlanta, Chicago, Kansas City, Dallas, and San Francisco Districts was characterized as growing at a moderate pace, while the Richmond, St. Louis, and Minneapolis Districts noted modest growth. Boston reported steady growth, and the Philadelphia District indicated that the pace of expansion had slowed slightly since the previous Beige Book.
Manufacturing continued to expand in most Districts. Consumer spending was unchanged or up modestly. New vehicle sales remained strong and inventories of some popular models were tight. Sales of used automobiles held steady. Travel and tourism expanded, boosted by both the business and leisure segments. Demand for nonfinancial services was generally stable to slightly higher since the last report, and several Districts noted strong growth in information technology services. Conditions in residential and commercial real estate improved. Construction picked up in many areas of the country. Lenders in most Districts noted an improvement in loan demand and credit conditions. Agricultural conditions generally improved, and spring planting was well ahead of its normal pace in most reporting Districts. Energy production and exploration continued to expand, except for coal producers who noted a slight slowing in activity.
Wage pressures overall were modest. Hiring was steady or increased slightly, and contacts in a number of Districts reported difficulties in finding qualified workers, particularly those with specialized skills. Price inflation remained modest across Districts, and overall cost pressures eased as the price of energy inputs declined. Economic outlooks remain positive, but contacts were slightly more guarded in their optimism.
Quote from Pekelo:
Depends on what you know better, the calendar or history, today happens to be D-day (68th anniversary) or W-day (Wendesday) but definitely not T-days (Tuesday, Thursday). Those happen 40% of the (trading) time...
Was referring to Trend Days, but thanks for the clarification.
And along those lines, it's WeDNesday (D before N).
Quote from keeptradin':
Was referring to Trend Days, but thanks for the clarification.
And along those lines, it's WeDNesday (D before N).
hehe
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