ES Journal Archive (2006 - 2008)

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Quote from steve46:


If the historical record is accurate, low volume small range days will continue from here.
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I think that's a bit of an overexaggeration.
I'll grant you that the last 2 weeks of August pretty much suck. But, June and July usually still have good volume and range.
 
major trade will be the FOMC trade at the end of the month.

do you think the FED will be kind to the market?

do you think the FED will reiterate its stance on inflation/hawkish tone?

does it matter either way what the FED does/says?

The FED is just an excuse to run stops, the question is whether the stops are run on the upside, or downside.
 
Here are the main zones for tomorrow....

I do not want to be aggressive on the short side until one of the resistance zones are hit... However, market is definately starting to struggle and we have a lot of bearish factors in play in terms of timing, cyclical patterns etc.. This is just how I trade, I prefer to get in at the best possible value with the least risk and if I miss a move I will just catch the next one.

In terms of support, the first zone is minor and definately a possibility of blowing right through it due to the momentum if coming off a DT. I would play this zone with more of a confirmation entry. The second zone is the value area 1525-1526.. I fully expect a good bounce here if not a retest of the all time highs and a move higher.
 

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Would like to hear thoughts on attached "infomercial", is he right by pointing out that it is better to daytrade stocks that are moving that day instead of sticking to just a couple of futures that lack intraday trendiness? If simply making an argument that trading is skill-dependant than he would be wrong, but he does seem to have a valid point of trading markets that attract traders that day ie supply/demand issue. Anyway have a look at the file.
 

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Re: - above file.

I wanted to add that in my opinion main problem is people struggling to take profits when profits are there. When I started getting into daytrading most of my entries were incorrect from a technical point, a couple of years later I am managing to breakeven and actually win more than lose. The main issue with me not being totally profitable right now is still not knowing when to take profits, so I am more inclined to start scaling out (just like Apex82). I am certain that there is enough action in futures intraday, it's just pretty hard to stay full position till EOD as conditions can change multiple times throughout the day.
 
Tues, 6/5/07 Intraday price levels
based on 10 previous RTH sessions.
Some subtle differences from yesterday.

* = significant
Code: 
[b]ES          YM      ER      NQ[/b]
1537.50*    13674   854.6   1935.75         
1533.50     13665*  853.7*  1932.50*        
1532.00     13617   847.5*  1930.00         
1528.50     13606   845.7   1927.50*        
1525.25     13579   839.8*  1921.00         
1523.50*    13556   836.0*  1919.50         
1522.25     13537*  833.2   1917.50         
1518.25     13517   830.6   1907.00*        
1517.25             828.3   1900.00*
1516.25                     1894.50 
                            1890.75*
                            1886.00


Good trading to all
Osorico :)
 
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