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kserra's emini trades
- Thread starter kserra
- Start date
rest of today's trade signals that were not taken. To understand this better here are the rules i am using.
Look to 1 minute chart for entry.
On crossover of MAs on 1 minute look at MACD on 5 minute to confirmation direction of entry. If no confirmation on 5 minute signal is ignored.
If there is confirmation on 5 minute than signal is taken. Stop is placed at near resting point/recent support or resistance. This point is somewhat discretionary but is usually looked at on the basis of the 1 minute chart, for mornings I use larger stops to avoid being whipsawed. Stops will vary but currently I have been using between 1-2 point stops.
Exits are mildly discretionary but are similar to how I was trading them before. Exits are taken as the MA on the 1 minute chart begins to flatten or if I see other signs of weakness. I generally am looking to lock in a slightly bigger profit than the stops I am using.
I find that if the signal on the 1 minute is combined with a confirmation of crossing averages on the 5 minute and an confirming MACD on the 5 minute that the probability of the trade playing out is higher.
Look to 1 minute chart for entry.
On crossover of MAs on 1 minute look at MACD on 5 minute to confirmation direction of entry. If no confirmation on 5 minute signal is ignored.
If there is confirmation on 5 minute than signal is taken. Stop is placed at near resting point/recent support or resistance. This point is somewhat discretionary but is usually looked at on the basis of the 1 minute chart, for mornings I use larger stops to avoid being whipsawed. Stops will vary but currently I have been using between 1-2 point stops.
Exits are mildly discretionary but are similar to how I was trading them before. Exits are taken as the MA on the 1 minute chart begins to flatten or if I see other signs of weakness. I generally am looking to lock in a slightly bigger profit than the stops I am using.
I find that if the signal on the 1 minute is combined with a confirmation of crossing averages on the 5 minute and an confirming MACD on the 5 minute that the probability of the trade playing out is higher.
No trading again today have been quite busy with school.
After trading with this new system I am noticing that all I am really doing is using the 1 minute chart in the mornings to determine turning points and trends other than that I am really not using the 1 minute. So from now on I am basically going to just use the 1 minute for the first half hour to forty five minutes. For the rest of the time during the day i will be focusing on following the trend via the MAs on the 5 minute chart, using the same crossover tecnique I was using for the original system. The only difference here is that the averages have been set to 3 and 10 and I am also using an MACD just for confirmation of the move.
Anyways I will continue trading tomorrow.
After trading with this new system I am noticing that all I am really doing is using the 1 minute chart in the mornings to determine turning points and trends other than that I am really not using the 1 minute. So from now on I am basically going to just use the 1 minute for the first half hour to forty five minutes. For the rest of the time during the day i will be focusing on following the trend via the MAs on the 5 minute chart, using the same crossover tecnique I was using for the original system. The only difference here is that the averages have been set to 3 and 10 and I am also using an MACD just for confirmation of the move.
Anyways I will continue trading tomorrow.
Trade #1: Long @ 1066.00, Stop @ 1064.75, Cover @ 1067.25 +1.25
7:00 this trade was with the trend (something ive been working on) unfortunately I had absolutely no patience whatsoever on this trade and quickly got out for a quick profit. Would have been nice to hold on for more gains But im still working on this whole patience thing.
Trade #2: Long @ 1064.5, Stop @ 1063.5, Cover @ 1064.5 scratch
11:10 Took this trade with the MACD but saw that price was breaking and got out as averages were beginning to turn down
Trade #3: Long @ 1064.75, Stop @ 1063.25, Cover @ 1068.00 +3.25 pts
11:50 The MACD was still pointing up after last trade which to me indicated strong support at this point, the market was either going to do nothing at all or go up. This trade took off nicely and then never ever looked back. When I saw the 3 MA turning I decided to get out. I thought that there maybe a turning point here and that people maybe deciding to cover in advance of tomorrow's early news story.
Trade #4 Short@ 1066.25, Stop @ 1068.25, Cover @ 1068.25 - 2 pts
12:40 Although this trade looks kind of bad in retrospect I think I did the right thing here. The MACD was confirming the direction of the move as well as the averages crossed. I felt very confident in this move, not sure why though, anyways the averages crossed and I basically sold the bottom of a move that was already completed. Price came rocketing back, I would have likely covered this position sooner (because it immediatly showed me on the next bar i was in the wrong) had it not been for my stupid conviction that I was pointed in the right direction. I am finding it is trades like these where I am trying to call reversals and tops and bottoms that are killing me.
Profit/Loss for day: 2.5 pts
Overall Profit/Loss: 29.25 pts
Decent trading today I did a pretty good job (with the exception of the last trade) trading with the trend. I am finding the MACD is a nice indicator to help me with trend direction.
7:00 this trade was with the trend (something ive been working on) unfortunately I had absolutely no patience whatsoever on this trade and quickly got out for a quick profit. Would have been nice to hold on for more gains But im still working on this whole patience thing.
Trade #2: Long @ 1064.5, Stop @ 1063.5, Cover @ 1064.5 scratch
11:10 Took this trade with the MACD but saw that price was breaking and got out as averages were beginning to turn down
Trade #3: Long @ 1064.75, Stop @ 1063.25, Cover @ 1068.00 +3.25 pts
11:50 The MACD was still pointing up after last trade which to me indicated strong support at this point, the market was either going to do nothing at all or go up. This trade took off nicely and then never ever looked back. When I saw the 3 MA turning I decided to get out. I thought that there maybe a turning point here and that people maybe deciding to cover in advance of tomorrow's early news story.
Trade #4 Short@ 1066.25, Stop @ 1068.25, Cover @ 1068.25 - 2 pts
12:40 Although this trade looks kind of bad in retrospect I think I did the right thing here. The MACD was confirming the direction of the move as well as the averages crossed. I felt very confident in this move, not sure why though, anyways the averages crossed and I basically sold the bottom of a move that was already completed. Price came rocketing back, I would have likely covered this position sooner (because it immediatly showed me on the next bar i was in the wrong) had it not been for my stupid conviction that I was pointed in the right direction. I am finding it is trades like these where I am trying to call reversals and tops and bottoms that are killing me.
Profit/Loss for day: 2.5 pts
Overall Profit/Loss: 29.25 pts
Decent trading today I did a pretty good job (with the exception of the last trade) trading with the trend. I am finding the MACD is a nice indicator to help me with trend direction.