ES Journal Archive (2006 - 2008)

[Spooz Top]

Quote from austinp:

<i>"#2....when i traded prop in `99 for a firm here in northern NJ, i was fortunate enough to be situated at the top desk & across from me was the best trader in the pack,also named steve.
along with equities ,he would trade diamonds & Spy`s in sick size....as i mentioned the 10/100 rule to him,thinking i was showing him a thing or two,he showed me this entire algo <b>based on fib,10/100 rule & some ma`s.....that would kick him buy/sell signals...especially during hi vol times,it sounded like a pinball machine going off."</b></i>

Now that's gotta be an outright lie. There are experts right here in ET with massive threads telling you how TA is bunk and does not work. Haven't you taken that to heed? Better tell your friend that the money he made was based on pure falsehood drivel (massive belly laugh)

*

We used to watch the SPX bounce inside 10, 20 and 30pt rolls during the 99 - 2002 glory days. It was customary for the SPX to turn at 10pt marks, OEX likewise at 5pt marks.

I used to figure that "rule of ten" was due to strike prices with major volume at round #s and x10 strikes OEX / x25 strikes SPX. This is when eminis were just hatchlings or in some cases not yet invented. Index options had all the volume back then.

Certainly something that obvious and blatant has been observed in the markets by many, many traders for a long time.

LOL...i hear you Austin........Nobody knew what the hell an Emini was......my accountant thought i was nuts when i kept mentioning this wonderful new trading vehicle called the "e-mini".

i`ve battled the OEX wars myself,bro.......those were there wild,wild times.........i actually cut me teeth on OEX calls/puts.

 

[fearless9]

Quote from JimmyJam:


The subconscious mind sees the same patterns over and over and over and over and over again, eventually it comes to the awakened consciousness.
JJ

You have nailed that one correctly Jimmy. Then just walk up your account during high volume.

 

[JimmyJam]

Quote from JimmyJam:

[... I may get an opportunity to short, at 1554 or so, but the strong selling probably has abatted for the moment.

Good trading,

JJ [/B]

Guess I'll continue with the fantasy trading, eh F9?

LMAO, good trading to you bro.

JJ

 

[Spooz Top]

they need to pop it here if this reversal diamond is going to stay intact......can`t afford much more downside.

 

[JimmyJam]

Quote from fearless9:

You have nailed that one correctly Jimmy. Then just walk up your account during high volume.

Just try'in to spread the love f9, in my own little way.

What's a real trip though, is the day we wake up and realize we've only been competing with ourselves, all this time.

Not the market

Not other traders

But with ourselves

Yikes! :eek:

GT,

JJ

 

[dmartin]

Quote from volente_00:

You are missing the point. It does not matter what his trades are, what mine are or what ANYONE else's are. In the end it is YOU that has to stand in front of the mirror and face the reality that the only trades that matter in this game are YOURS.

Obviously it does matter what your trades and his trades are if what you put out is your trading style, philosophy and specific trades. Otherwise, stop posting.

I still would like for someone to explain why Buy2Sell1 or anyone else did not take some profits off the table at resistance levels that proved formidable.

DMartin

 

[fearless9]

Quote from JimmyJam:

Just try'in to spread the love f9, in my own little way.

What's a real trip though, is the day we wake up and realize we've only been competing with ourselves, all this time.

Not the market

Not other traders

But with ourselves

Yikes! :eek:

GT,

JJ

Steady on Jimmy, you are as naughty as V, taking out all the fun and fantasy from this thread.

What am I going to read when that happens?

 

[jagmot]

Quote from volente_00:

Where do you get that info from ? I have never heard of rule of 100 or rule of 10 until I started posting about it 2 years or so on the YM thread I started. Just curious where you first heard about it from because I have never seen it in a book or heard about it from other traders except other than you.

I had heard of the rule of 100 (although I don't subscribe to it) before I found ET and say before the Dow was higher than 10k. Now it seems more like the rule of 1000. Market bounced off of the 14k (YM) level quite well both yesterday and in after hours. Market made another bounce today in RTH before breaking it. We will see if the market can hold above the 14k mark today, although I do not see it happening.

Short ES 48.75
Edit: stopped out

 

[Spooz Top]

Quote from Spooz Top:

looks to me the bulls are trying to form/build out a reverse diamond to counter the bigger one........if this builds out like i think it might......should be tight action here into the pm session.

a lower lo..below 50 should be bought aggressively if it stays within the build out phase.

dow/ym doing the same.....

long from cost avg of 47.50.........as per my post of lower lo being bought up.......not as quick as i`d liked.

 

[jagmot]

Quote from dmartin:

Obviously it does matter what your trades and his trades are if what you put out is your trading style, philosophy and specific trades. Otherwise, stop posting.

I still would like for someone to explain why Buy2Sell1 or anyone else did not take some profits off the table at resistance levels that proved formidable.

DMartin

He doesn't believe in taking partial profits. He is either in or out. I don't prescribe to this method but it works for him and seems to work for him very well.

Everyone don't forget that b2s1 also has an nq position that is well over 100 pts and larger than his es position. If he had taken partial profits along the way he would probably not be happy.