Johnny Rock's $100,000 Challenge

  • Snapshots to detect a theme
  • Support/resistance
  • Bias: news
  • Is there an over riding theme that would weigh more heavily than S/R
  • Are my guides (HMAs) confirming my bias?
  • Is there a low risk entry if the market is trending opposite to my expectations?
  • Is there a S/R level that would be a natural turning point if the movement is against my expectations? A place to look for an entry upon "guide" confirmation?
  • Is there a S/R level to take profits if volume is indicating that the move is done? Most often, expansion bars on heavy volume into S/R. Sometimes, a NR bar on low volume indicating interest is drying up?
This is just an example in a paper trading account. I won't post this every day. However, this is what I look at. I also look at commodity ETFs when the dollar/inflation is the major theme.

Screenshot_20210618-093651.png
Screenshot_20210618-093657.png
Screenshot_20210618-093832.png
Screenshot_20210618-093858.png
Screenshot_20210618-093924.png
Screenshot_20210618-094003.png


  1. Dial down to the 15' for entry/exit
  2. Toggle between hourly/daily for reference
  3. Use volume/HMAs for exit
  4. I sort of tune in to Bloomberg radio to "feel" the tone of what people are saying.
 

Attachments

  • Screenshot_20210618-095645.png
    Screenshot_20210618-095645.png
    191.5 KB · Views: 11
Last edited:
  1. Just an example
  2. The major theme is the dollar
  3. What is your "take"
  4. What is the market saying?
Screenshot_20210618-104600.png
Screenshot_20210618-104551.png


Oil rallied from the open (at least for the moment that may be signaling that they don't believe the hype). Look at the HMA guides/bands on the 15' MES. So if all that says your bias is for a gap fill, wait for the 'signal' and go long. Set your stop. Target at a filling of the gap. Look for cues to an early exit.
 
johnnyrock said:
  1. Just an example
  2. The major theme is the dollar
  3. What is your "take"
  4. What is the market saying?
View attachment 261164 View attachment 261165

Oil rallied from the open (at least for the moment that may be signaling that they don't believe the hype). Look at the HMA guides/bands on the 15' MES. So if all that says your bias is for a gap fill, wait for the 'signal' and go long. Set your stop. Target at a filling of the gap. Look for cues to an early exit.
More...

If your bias is short the MES, just wait for the 'market' to agree. It's not a matter of not having a bias, or even simply a matter of listening to the market, and most of all, a blind reliance on your indicators. Reward: risk. Bias. Basis for the trade. Enter. Set stop.
 
  • We keep creeping up to new highs, but these ranges (days that result in a new high for the ES/MES) are awfully narrow
  • That can't be a good sign
  • I will be live trading next month, but I need to be very selective.
  • I also want to make sure I am ready when the market tanks! That's the easiest, quickest way to make money.
  • That window is also shorter
  • We are not there yet, but we could be very close
Screenshot_20210624-152158.png
 
You must log in or register to reply here.
Back
Top