No. I missed the afternoon slide and churned commissions in the morning. Down $112 for the day.
-Fast
FastTrader Futures-Trading Journal
- Thread starter EMini-Player
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-Fast
Yea, I wish there was some way to predict days like today so I could just sleep in
-Fast
With GreenSpeak tomorrow I didn't think it would get too far today. I also read Neiderhoffer's comment for the day (helps me!). He usually posts it around 9 AM EST. Sometimes he will say something in the afternoon, too. And, keep track of daily S&P fut. ranges looking for the NR7 or NR4 and doji days. I think Waggie looks for a lot of that stuff. We need to get him to post a morning comment somewhere.
http://www.dailyspeculations.com/
http://www.dailyspeculations.com/
Quote from Fast_Trader:
Yea, I wish there was some way to predict days like today so I could just sleep in
-Fast
Thanks for the link! Here's a quote from the homepage:
He was right on! I'm gonna bookmark that site and check it out in the mornings.
-Fast
He was right on! I'm gonna bookmark that site and check it out in the mornings.
-Fast
Any other sites I should check out?
-Fast
-Fast
I don't visit this one regularly anymore but the dow tech analysis is free and worth checking in on now and then
http://www.signalwatch.com/
First thing I check in the AM is what news is coming and who is speaking. I put a software alarm on my computer that alerts me one or two min. before any anoucement is due or someone important is about to speak.
http://mam.econoday.com/calendar/US/EN/New_York/year/2004/month/02/day/10/daily/index.html
February 10th (Tuesday)
Total trades: 11 (10 Shorts, 1 Long) 6 Losers, 4 Winners, 1 Scratch
Time Zone: Central (Chicago time)
8:35 AM - Short 1 ES 1138
8:37 AM - Cover 1 ES 1138.50
Result: -0.50
8:52 AM - Short 1 ES 1138.50
8:55 AM - Cover 1 ES 1140
Result: -1.50
8:58 AM - Short 1 NQ 1494.50
9:04 AM - Cover 1 NQ 1497
Result: -2.50
9:08 AM - Short 1 ES 1140.25
9:18 AM - Cover 1 ES 1139.25
Result: +1
9:10 AM - Short 1 NQ 1496.50
9:18 AM - Cover 1 NQ 1495.00
Result: +1.50
9:20 AM - Long 1 YM 10558
9:22 AM - Cover 1 YM 10560
Result: +2
9:28 AM - Short 1 NQ 1496.00
9:30 AM - Cover 1 NQ 1496.50
Result: -0.5
9:30 AM - Short 1 NQ 1496.50
9:32 AM - Cover 1 NQ 1496.50
Result: 0
9:39 AM - Short 1 NQ 1496.50
9:43 AM - Cover 1 NQ 1499.00
Result: -2.50
10:01 AM - Short 1 NQ 1503
10:04 AM - Cover 1 NQ 1504.50
Result: -1.50
1:08 PM - Short 1 ER2 588.10
2:14 PM - Cover 1 ER2 587.70
Result: +0.40
Overall:
ES: -1
NQ: -5.5
YM: +2
ER2: +0.40
Total trades: 11 (10 Shorts, 1 Long) 6 Losers, 4 Winners, 1 Scratch
Time Zone: Central (Chicago time)
8:35 AM - Short 1 ES 1138
8:37 AM - Cover 1 ES 1138.50
Result: -0.50
8:52 AM - Short 1 ES 1138.50
8:55 AM - Cover 1 ES 1140
Result: -1.50
8:58 AM - Short 1 NQ 1494.50
9:04 AM - Cover 1 NQ 1497
Result: -2.50
9:08 AM - Short 1 ES 1140.25
9:18 AM - Cover 1 ES 1139.25
Result: +1
9:10 AM - Short 1 NQ 1496.50
9:18 AM - Cover 1 NQ 1495.00
Result: +1.50
9:20 AM - Long 1 YM 10558
9:22 AM - Cover 1 YM 10560
Result: +2
9:28 AM - Short 1 NQ 1496.00
9:30 AM - Cover 1 NQ 1496.50
Result: -0.5
9:30 AM - Short 1 NQ 1496.50
9:32 AM - Cover 1 NQ 1496.50
Result: 0
9:39 AM - Short 1 NQ 1496.50
9:43 AM - Cover 1 NQ 1499.00
Result: -2.50
10:01 AM - Short 1 NQ 1503
10:04 AM - Cover 1 NQ 1504.50
Result: -1.50
1:08 PM - Short 1 ER2 588.10
2:14 PM - Cover 1 ER2 587.70
Result: +0.40
Overall:
ES: -1
NQ: -5.5
YM: +2
ER2: +0.40
I still think you are overtrading. You had 10 trades in an hour and a half.
I used to have about 18 or 19 trades a day and had trouble finding a method to weed those out but that still looked good to me. Finally I put together enough stuff that looks right to me that I find about 5 to 8 signals a day and I pass on some of those. (But I still take a few that don't quite fit my method and I shouldn't take those mainly because they eat away at my discipline. )
I still make changes to what I look at but at least it isn't giving me a new signal every 10 minutes any more.
I think when I started looking for 3 trades a day it got me thinking in the right direction. Except on strong trend days, look for one trade around 9:45 +- 5 min., another around 9:55 to 10:20, then an afternoon trend trade starting sometime around 2 PM give or take 30 min. These times are EST. Then, make your method fit within those ideas. I think if one ONLY looked for three daily trades at those times, you could be profitable. But you would also be very bored.
Also, I've finally gotten out of the thinking that I'll miss a big move if I'm not ready to enter a trade all the time. Now, I've gotten to where if it takes off with out me then it just wasn't the type of trade I was looking for. I try to concentrate on waiting for my signal rather than letting the market jerk me around mentally worrying about missing the move.
The ones that still make me angry are those where I get my signal but the market takes off so fast I have no time to get on board without chasing the market and it just keeps on going. I try to never chase the market because it almost always results in a bad trade for me.
I used to have about 18 or 19 trades a day and had trouble finding a method to weed those out but that still looked good to me. Finally I put together enough stuff that looks right to me that I find about 5 to 8 signals a day and I pass on some of those. (But I still take a few that don't quite fit my method and I shouldn't take those mainly because they eat away at my discipline. )
I still make changes to what I look at but at least it isn't giving me a new signal every 10 minutes any more.
I think when I started looking for 3 trades a day it got me thinking in the right direction. Except on strong trend days, look for one trade around 9:45 +- 5 min., another around 9:55 to 10:20, then an afternoon trend trade starting sometime around 2 PM give or take 30 min. These times are EST. Then, make your method fit within those ideas. I think if one ONLY looked for three daily trades at those times, you could be profitable. But you would also be very bored.
Also, I've finally gotten out of the thinking that I'll miss a big move if I'm not ready to enter a trade all the time. Now, I've gotten to where if it takes off with out me then it just wasn't the type of trade I was looking for. I try to concentrate on waiting for my signal rather than letting the market jerk me around mentally worrying about missing the move.
The ones that still make me angry are those where I get my signal but the market takes off so fast I have no time to get on board without chasing the market and it just keeps on going. I try to never chase the market because it almost always results in a bad trade for me.
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