ES Journal Archive (2009 - 2010)

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I paid money out of my own pocket as site sponser status for one reason. Not to advertise, not to woo customers, not to dupe or fleece newbies, not to sell vendor-bottled snake oil.

I'm here as site sponsor status (for a period of time) with one objective: to set some records straight.

First of all, there are no mystical gurus or genius traders out there. Nobody is a born trading savant. Nobody is gifted talent to trade like NFL or NBA prospects are. Anybody can succeed in this profession. Some will have to work longer and harder at it than others. To some it comes rather natural or easy. To others, successful trading is a years' long if not decade long process of evolution.

It's the same for me as everyone else. I worked long & hard, I still work long & hard and I will always work long & hard to get where I want to be. The same is true for you.

When I see rubbish posted in various public forums like, "technical analysis don't work because extensive testing shows..." and "all vendors are crooks that sell worthless systems..." and "everything known to man is contained in some book or message board.." it makes me cringe.

Everything known to man about insider tactics is not found in books or message boards. All vendors aren't deliberate crooks. Technical analysis does work... it's the trader that doesn't work in every instance.

The CM Control-Bar video instruction link I posted a couple days ago discloses everything necessary to identify yesterday's sell sequence confirmed in real time as it unfolded bar-by-bar on everyone's chart. That information and subsequent price action happened whether I was here or not, whether you were here or not, whether anyone is aware of the information or not.

One small example of what I've said for the past four years and counting inside ET.
 
Quote from tortoise:

Your link doesn't seem to be working; it's just a blank page. (Or is that the point?)
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sorry... that page leads to a recorded video link embedded on the page. I didn't post it as a single link out of operator error on my part :eek:
 
Quote from austinp:

sorry... that page leads to a recorded video link embedded on the page. I didn't post it as a single link out of operator error on my part :eek:
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Ok, just fyi, there doesn't appear to be an embedded video link, either.
 
Quote from tortoise:

Ok, just fyi, there doesn't appear to be an embedded video link, either.
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CM Control-Bar Study

I'm pretty sure it works off that page, but here's the direct link. I'm even more sure there will be price-turn or continuation patterns in the market today, and every day :)
 
Quote from schizo:

I think we just might have flushed out the last remnants of these stubborn trannies.
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Very nice noise trading Sir. I would like to learn how to do that one day.

Did you know that the ONLY advantage the house has in blackjack is due to their position and acting last (i.e.: After ALL the other players have made their decisions?). In fact it's such a big advantage that originally they had to start paying 3:2 for naturals to get people to play, because the customers were going broke too fast, and didn't come back.

Long ES.
 
Quote from austinp:

CM Control-Bar Study

I'm pretty sure it works off that page, but here's the direct link. I'm even more sure there will be price-turn or continuation patterns in the market today, and every day :)
More...

Austin thanks for posting that video. I had a question about it for you the other day over on the CL thread, to which I never saw a response, so I thought I'd give it 1 more shot. :)

If the control bar is defined by the 5 bars before it and the 5 bars after it (being the highest or lowest of those 2 sets), are you mostly having to anticipate the "5 bars after" part in order to take advantage of it as price FIRST turns, or or is it something you mainly use after it's established and price returns to the control pivot line? ... TIA
 
Another way to review yesterdays ES chart on the 5 min is to call it like it was..............from the opening at 0930 est.

ORB to upside that never looked back. That was your first clue to stay long for a possible "TREND-DAY" So far so good.

The trendline was up, price was above the 20, so far "it's all good", no bogies in sight, you are on cruise control.

Trend-day still in force, you are in a up-channel and enjoying the ride, no real retraces to get you nervous.

Channel up still working, more aggressive tuned in traders can work the channel up by doing add-on at the trendline and taking the add-on out at the channel line, over and over. that is great exercise in discipline training also. (you still have your initial all-in regular amount of cars)

The trendday was still in effect even as we saw a couple small sideways (constipated, another name of many for consolidations), no fear just enjoy the ride ........at this time you are looking around for a reversal signal to protect your handsome profits up here.

You have yet to see a 5 handle retrace all the way up ...........and it is 1400 est, this could take off more upside.....BUT...

The 2 fat up bars following the constipation, opp's consolidation followed by the next 3 to 4 bars that then reverses those 2 large up bars get you out of any LONGS, period. You have topped out my friend, time to get SHORT at..............

1162.x is your Short signal, it takes out the previous low at 1162.25 that was a 3 3/4 handle retrace on the smallish KEY bar at 1250est that was actually negated by the next bar because price traveled ABOVE that smallish KEY bars opening tik, but a small tretrace still followed it for lower lows the next 6 bars (there is a trade in there for you guys that play KEY bars).

The rest of the chart speaks for itself.

I milked the initial up move and the up trend but i was not nearly as aggressive on the way down after the initial profits on the downmove.

it was a piece of cake technical trading day.........some days are just fun.

Milking a cow is harder than yesterday was. :D

PS: on TREND-DAY trading you do not worry about retraces........you look for continuations........."HOOKS" get the job done. :) :cool:
 
Quote from tomahawk:

Austin thanks for posting that video. I had a question about it for you the other day over on the CL thread, to which I never saw a response, so I thought I'd give it 1 more shot. :)

If the control bar is defined by the 5 bars before it and the 5 bars after it (being the highest or lowest of those 2 sets), are you mostly having to anticipate the "5 bars after" part in order to take advantage of it as price FIRST turns, or or is it something you mainly use after it's established and price returns to the control pivot line? ... TIA
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didn't see the question... sorry for that :)

the 5-bar confirmation isn't critical, it is a standard basis of comparison. fundamentally you are looking for exhaustion spikes and positioning yourself on the opposite side of stop-loss clusters. when those stops get taken out, you get ushered in accordingly. eat the losers, so to speak.

very often this particular pattern confirmation will get one (or two) pullback tests before the directional takeoff ensues. they usually confirm as 5-bar patterns but not always. it gives a quick visual reference as to where the prior action points were... which is right where future action points will once again become
 
Quote from austinp:

didn't see the question... sorry for that :)

the 5-bar confirmation isn't critical, it is a standard basis of comparison. fundamentally you are looking for exhaustion spikes and positioning yourself on the opposite side of stop-loss clusters. when those stops get taken out, you get ushered in accordingly. eat the losers, so to speak.

very often this particular pattern confirmation will get one (or two) pullback tests before the directional takeoff ensues. they usually confirm as 5-bar patterns but not always. it gives a quick visual reference as to where the prior action points were... which is right where future action points will once again become
More...

Got it. Thanks for the clarification.
 
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