ES Journal Archive (2011)

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@blotto thanks for the clarification.. you are exactly correct. I'm trading the ES spreads at nadex where each point is worth $10. It is based on expiry of ES. Hopefully, I'm still welcome here. I trade the ES on sim for 3 years and have 2 of the top ranked systems at C2. I have the ES contracts on at my sim account (4 of them.. lol kinda sized a bit large).

If anyone is curious or on sim, I bought 1315-1345 when market @1318-1320 and my premium rate was 1320.50 @ 4 contracts. Total risk was $200. I could have went with the 1300-1330. I would have been filled at 1318 outside the best bid/best ask. My risk would have been $540 (@ $30 per point). In general, it is better not to pay much in premium. However, in this case I felt an extended sell off was a possibility and didn't want to risk it.
 
blotto is always abrupt,don't know him so can't say whether that is normal or he's agitated,we'll consider it normal and if it gets more than abrupt then we'll throw spears at his ego
 
Quote from Lucias:

@blotto thanks for the clarification.. you are exactly correct. I'm trading the ES spreads at nadex where each point is worth $10. It is based on expiry of ES. Hopefully, I'm still welcome here. I trade the ES on sim for 3 years and have 2 of the top ranked systems at C2. I have the ES contracts on at my sim account (4 of them.. lol kinda sized a bit large).
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I understand. So you're trading $40/point at NADEX which is 4/5ths of a standard lot, but presumably you are using them so you can scale your orders and not to be all in / all out as you would be trading 1 lot on the CME.

I don't trust the upside here until 1310.50 is taken out.
 
Quote from marceck:

now we are seeing some delta support after the lower lows. NQ needs to hold 2354.25 on this bounce.
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thanks for the delta updates,keep em coming
 
Quote from Blotto:

Your reply to me sounds like you are more interested in your ego than in trading.
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Now ain`t that a little funny coming from a guy who deletes his own calls in order to save face and trying to avoid looking bad?
 
Quote from iloveoptions:

Adding at 1312.5
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And puking where? With the standard two point stop, you could be selling to me at 1310.50.

Does anyone consider that the first leg down after a big rally is primarily people stepping in to "buy the dip" as has been working so well for the last N sessions / days / weeks. Except this no longer works following a change in cycles. The public miss these cycle changes and keep repeating what used to be profitable.

On the first major down day isn't it usual to have a big move down, then a false bottom, then longs stopping out on a break to new lows which is smaller than the last break, then an extended period of trading sideways to induce people to buy, then another stop run, then double bottoms to get traders long, then a bigger break?

How does today differ from that usual template?
 
marceck,

Do you use Market Delta for your bid/ask volume analysis? Do you feel that this analysis adds an edge in your trading?

And do you use it more for confirmation in addition to other patterns and set-ups?

Thanks,

LF
 
Quote from Blotto:

And puking where? With the standard two point stop, you could be selling to me at 1310.50.

Does anyone consider that the first leg down after a big rally is primarily people stepping in to "buy the dip" as has been working so well for the last N sessions / days / weeks. Except this no longer works following a change in cycles. The public miss these cycle changes and keep repeating what used to be profitable.

On the first major down day isn't it usual to have a big move down, then a false bottom, then longs stopping out on a break to new lows which is smaller than the last break, then an extended period of trading sideways to induce people to buy, then another stop run, then double bottoms to get traders long, then a bigger break?

How does today differ from that usual template?
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either one of you could be right,131.75 in spy was a mp supp on a 3 month daily...dvol/uvol is very lopsided(24/1) and trend days usually continue into the close,chill out,u sound like an attack dog,there are 2 sides to every market,point of view
 
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