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ES Journal Archive (2006 - 2008)
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1477 short is cancelled... market is looking bullish longer term..
may look for a signal in the 1480's
you can see the IHS formed on the major support.. it formed the left shoulder.. then washed it out and then on the second test it held.. you will have to look at 24hr chart to see it.
may look for a signal in the 1480's
you can see the IHS formed on the major support.. it formed the left shoulder.. then washed it out and then on the second test it held.. you will have to look at 24hr chart to see it.
Quote from StockyIrishman:
If buying volume jumps 3x or 4x but the ask doesn't go up, isn't that a tell of something? forgive my silly question, just saw buying in the CL but the price barrely moved.
this close to options expiration this often happens as people are closing positions..also on Wed/Thurs some very choppy trading on the SPX...same reason..tough to day trade.
Quote from apex82:
1477 short is cancelled... market is looking bullish longer term..
may look for a signal in the 1480's
you can see the IHS formed on the major support.. it formed the left shoulder.. then washed it out and then on the second test it held.. you will have to look at 24hr chart to see it.
ironic...i was just about to log on and ask if anyone saw the ihs pattern i was seeing, then i saw your post....
this was something (I believe) volente posted on 9/9/07 about how he uses rule of 10
09-09-07 11:16 AM
I use rule of 10 for entries and exits. Yes I trade countertrend. WHY ? Because of reversion to the mean. How many days do you get each month that just go straight up or straight down ? You can't play around when trading this way. You have to be disciplined and always set your stop upon entry. I have a rule where i only am allowed 1 stop out for the day, unless I already have profits. Mostly I cover half at 2 or so points and let the rest ride to break even or into 5 or more points depending on what the market wants to give. Rule of 10 is not set in stone, sometimes it marks a turning point for a 2 point bounce, sometimes it is moves 10+ points from there, and sometimes it is just flat wrong and I take a 2 point loss and move on. The other day there were 4 rule of 10 trades in a row. I don't use it just for entries or exits on intraday, It is useful for finding a point to fade when it moves 10 above previous older s or r from previous days.. You can't control the market, all you can control is the risk. For the month of august my winning trades were 84%. Uusally they average 70-75. The crowd is chasing so I do not want to be a part of them. All I can say is you have to be confident when you step in front of the train and have 100% discipline or you can get spanked if your emotions are unchecked.
I am a fader, give me a spike and I will take my shot. For those of you who say it is easier to trade with the trend, How the hell do you know what the trend is when a econ number gets released and ES jumps 7-10 instantly one way ? How can you see a trend when ES is up 20 points one day, down 30 the next, then up 15 the next ? Buy when others are selling, sell when others are buying. It works for me, but to each his own.
09-09-07 11:16 AM
I use rule of 10 for entries and exits. Yes I trade countertrend. WHY ? Because of reversion to the mean. How many days do you get each month that just go straight up or straight down ? You can't play around when trading this way. You have to be disciplined and always set your stop upon entry. I have a rule where i only am allowed 1 stop out for the day, unless I already have profits. Mostly I cover half at 2 or so points and let the rest ride to break even or into 5 or more points depending on what the market wants to give. Rule of 10 is not set in stone, sometimes it marks a turning point for a 2 point bounce, sometimes it is moves 10+ points from there, and sometimes it is just flat wrong and I take a 2 point loss and move on. The other day there were 4 rule of 10 trades in a row. I don't use it just for entries or exits on intraday, It is useful for finding a point to fade when it moves 10 above previous older s or r from previous days.. You can't control the market, all you can control is the risk. For the month of august my winning trades were 84%. Uusally they average 70-75. The crowd is chasing so I do not want to be a part of them. All I can say is you have to be confident when you step in front of the train and have 100% discipline or you can get spanked if your emotions are unchecked.
I am a fader, give me a spike and I will take my shot. For those of you who say it is easier to trade with the trend, How the hell do you know what the trend is when a econ number gets released and ES jumps 7-10 instantly one way ? How can you see a trend when ES is up 20 points one day, down 30 the next, then up 15 the next ? Buy when others are selling, sell when others are buying. It works for me, but to each his own.
Quote from apex82:
I have been using camtasia for awhile to record some of my larger trades and what I am looking at on various markets. I figure I would post part of one and see if people liked it. I do it for myself as it is so it wouldnt hurt to get some feedback as well as some other outlooks.
This one is on the EURUSD trade I stated in the journal...It was made on Nov.23 and it just hit the target yesterday that was shown in the video.
http://www.youtube.com/watch?v=cZTjPQVrwb0
info and analysis is good, but screen is fuzzy, as others have said. can't really see the numbers, not clear. if you fix that, i think it will be a very good presentation.
Quote from tortoise:
as santa claus rallies go...this reminds me of the druken, lecherous santa claus billy bob thorton played a couple of years back. anyone remember that movie? reminds me of today...
or, perhaps, instead of invoking "A Beautiful Mind" we could call today, "A Beautiful MindFuck".
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