ES Journal Archive (2011)

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Quote from KevinLB:

I'm in the red by more percentage points than I care to admit. A momentum player trying to time position and it isn't working. I need volume to back my trades,; which is to say after power napping I need to stay out of the market after hours. I can corner two point trades and that's all I need really. Maybe after I build up my bank I can take another crack at the five day average, three week pivot widening ranges; until then-I'm not calling anything.

Back to lurk, Lerch.
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With all due respect

It sounds like your testing an unproven momentum strategy on a real account.

Nothing wrong with that.

If you read the original book Market Wizards one of the traders there kept blowing up his money and his families money until he final got it and became one of the best traders in history.

On another note... There are many Volume and Momentum Indicators out there. Plus its 2011 so there are also brokers out there that offer Demo/Paper accounts for 14 to 30 days more or less. Where you could test out a momentum strategy.

Check out the book

21 Laws of Trading

You could pick up a used one there for about $6

Also look at Market Delta since with it you could create a custom volume footprint. I think they still offer a free trial.

Best of luck to you.

Have a good weekend all
 
Thank you for your input, mwingo1135.

Market satisfaction; weakness; strength: these are things a mentor starting out taught me pointing at the moon on a 233 tick. I widened the horizon to make some killer calls two full turns of the sun and their seasons ahead. I can't find the middle. What's more, the toggles in the 233 tick doesn't makes sense to me anymore. Maybe I'm right and there's too much noise and I need to filter data. Maybe the market adapted. Although I can't see that happening. We expanded on Charles Dow and Mr. Elliot in terms a scalper could use. I don't know. I don't like this market. Though I need to eat.

I'm trading 3 pikes for change.
 
Someone mentioned George Lane today? I used to talk to him every now in then in the mid 90's, he's dead now. He was a colorful old floor guy but ended up a vendor.
 
Quote from startraitor:

Someone mentioned George Lane today? I used to talk to him every now in then in the mid 90's, he's dead now. He was a colorful old floor guy but ended up a vendor.
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Did he create the stochastic indicator?

Another old floor trader was Richard Dennis who I think created the ADX indicator

J. Welles Wilder created the Relative Strength Indicator in 1978 and another person from the same Era was John Bollinger the creator of the Bollinger Bands Indicator.

I bet it was nice watching how we went from a primarily pit dominated world to a primarily electronic dominated world.
 
Quote from Buy1Sell2:

I am not trading intraday, so I am ignoring the 15 min long signal that currently exists. There is potential to bounce here based on the 15 and the 60 carries a minor signal, but it would not be strong enough for me here. If I'm wrong- I'm wrong. :)
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These signals only proved to be temporary respite to the downside move. I prefer to trade with the trend.:)
 
on a larger scale it trades in areas rotating back to the nip,leaves one and goes to next,we hit the nip of the area we are in last week,this week with expiration should have had more volume,it had less,so maybe the sellers are exhausted,......on a daily chart sometimes that rotation will stay above or below the nip for a large part of the day only to go back and fill in the other portion of the chart below or above,the larger area does the same thing..this portion of the chart is 1245-966 with a nip around 1080,its going to work that area the same way it does on the one day chart...you reduce and reduce and get the shorter term details
 

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