ES Journal Archive (2009 - 2010)

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Quote from Pekelo:

2nd gap and free money giveaway this morning...
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True, although the day preceding Memorial Day weekend can run from before the open.

That being said, at this moment (8:36 ET) looks like the 2nd gap will fill easily.
 
Quote from austinp:

regardless of bar #1, when you have directional energy and then a bar that behaves according to your terms to create #2, it is a potential halt to the surge move. The body of that bar #2 is where stops are clustered... where auction market theory found an end to sellers (buyers) which forms a bottom(top).

Price pulling back into that zone is into a "zone of control". It's also one piece component of Kevin Haggerty's flip-top / trap-door sequence logic.

Happens on any time frame, every symbol. The faster a chart, the more frequent the pattern.

**

I'm not trying to rain on your parade of posts, not at all. You seem eager to post numerous times daily for whatever reason(s). Keep doing what you're doing... the audience will accept or reject as they wish regardless of all else :)
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Actually Austin (say this with respect to your trading acumen) this set up happens on daily bars only EXACTLY like I showed it for the QM/CL. LOL. I don't understand why you are throwing in complicated trading logic and stating "this is a better way" when what you are saying is not my set-up AT ALL.

What you are talking about is very good information and is valid to study and trade by. But This set-up is a unique set-up and has nothing to do with what you are talking about. If it did, what you talk about would work great and you could rely on it to make money, which you can't.

I have been leaving posts because, quiet frankly, there is soooo much technical jargon in here that actually doesn't do a darn thing to make someone profitable.

Why do most traders fail? The learning curve man is HUGE. I have simple ways to look at the markets that are highly potent. If people want to learn it then great. If not, they can stick to trying to impress the mrs with big words and complicated theories that, on a whole, make commercial operations money. Not your "average" home based 1 man operation.
 
Quote from jjf:

So true AP, so very true indeed.

In fact in the last couple of weeks there have been several truisms from several Posters that would easily couple together into a bulletproof trading style.

I suppose, one might argue that if you can see them then you already know them and if you cannot see them then you are not yet ready.

Also it could be argued that before any of us are in a position to pass along trading advice, our own trading should be of such a consistency that we are trading well in excess of 10 lot parcels.

If this is true, and we take the minimum parcel as being 10 lots then AP's Trading Course (497 bucks) easily comes out of one 5 tick winning trade.
Very very doable, would you not agree.

So my question to you AP (forgive me if you have already addressed this one) is ....

"Why do you bother" with students when you are most likely making north of 5-10,000 bucks per day.

Perhaps there is an altruistic quality in your nature that is missing in others.

Keep up the excellent posts.
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I've been doing the educational thing for so many years now, it is part of my daily structure. It's a quasi-tangible place of work.

The same question could be asked of frequent posters here who show up every day, posting multiple times for months and years. Why bother?

In my case, I spend the same time & energy inside my own forum with a controlled group of people to share info. Others prefer public anonymous forums, private groups, skype, whatever.

As for the trading income projections, some days are profit, some are scratch and some are loss. Same as any other futures trader. If I may refer (not compare) to a public trader like Don Miller, it's taken him roughly three weeks to recover one day's $55k draw back on 5/06. What's a daily average profit turning 1,000s of contract per session for him?

It varies. Month over month and year over year are the only measures that matter. Just avoid blowing out any single day, keep losses contained and remain patient & disciplined.

Said easy, done hard as hell.
 
Quote from petty1978:

. If it did, what you talk about would work great and you could rely on it to make money, which you can't.
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perhaps I read = understood your logic wrong. we are talking about daily bars, but entering intraday. that means you guess at what might be bar #1 and anticipate that bar #2 entry intraday because you have no idea if two day's down (or up) will become a three, four, five or seven consecutive extended trending stretch.

If I read = understood correctly, you look for extenstions and then an open which meets some criteria for setup. But entering near the prior extreme intraday trading daily bars is guesswork assumption, educated or otherwise.

I was suggesting a mode of seeing potential for the end of that extreme extension and then trading a pullback test of it. you appear to suggest that guessing where the end is should come after two certain bars.

to each their own :)
 
Quote from austinp:

I've been doing the educational thing for so many years now, it is part of my daily structure. It's a quasi-tangible place of work.

The same question could be asked of frequent posters here who show up every day, posting multiple times for months and years. Why bother?

In my case, I spend the same time & energy inside my own forum with a controlled group of people to share info. Others prefer public anonymous forums, private groups, skype, whatever.

As for the trading income projections, some days are profit, some are scratch and some are loss. Same as any other futures trader. If I may refer (not compare) to a public trader like Don Miller, it's taken him roughly three weeks to recover one day's $55k draw back on 5/06. What's a daily average profit turning 1,000s of contract per session for him?

It varies. Month over month and year over year are the only measures that matter. Just avoid blowing out any single day, keep losses contained and remain patient & disciplined.

Said easy, done hard as hell.
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excellent response AP
 
Quote from jjf:

If this is true, and we take the minimum parcel as being 10 lots then AP's Trading Course (497 bucks) easily comes out of one 5 tick winning trade.
Very very doable, would you not agree.
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Specially because the 2nd gap rule guaranteed that anything shorted between 1101-06 will be a winner at least down to 1101... :)
 
Quote from austinp:

....................................................
Just avoid blowing out any single day, keep losses contained and remain patient & disciplined.

Said easy, done hard as hell.
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Hello AP,

Do you think that successful trading requires a paradigm shift in the way in which people think.

For example, People are educated and influenced throughout their lives to think in shades of grey and this is very evident when reading the posts here.

And yet trading is black and white.
I mean how more clear cut can this be ...

"Trade - No Trade"
"Buy- Sell"
"No of ticks Stop"
"Cover - Continue"

Perhaps this is a subject that everyone agrees with and only a few practice.
If this is the case, then it must mean that most People view "black and white" through shades of grey
 
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