No thanks. If you don't find the levels on the DOM useful then simply don't use them. Why stress over it? Besides this is NoDoji's journal. I don't feel it's appropriate to initiate or carry-on conversations with others in someone else's journal. Feel free to PM me if you'd like.
NoDoji's Day Trading Log
- Thread starter NoDoji
- Start date
- Status
No thanks. If you don't find the levels on the DOM useful then simply don't use them. Why stress over it? Besides this is NoDoji's journal. I don't feel it's appropriate to initiate or carry-on conversations with others in someone else's journal. Feel free to PM me if you'd like.
+ $27
Caught one nice move at the open (STEC), shorting halfway through the opening selloff and covering very close to the round number bounce for +$86.
Had a small overnight short AM from Friday @ 10.72 and expected a quick selloff at the open, which did not materialize. This disturbed me, so I set a stop above the high of the opening range, hit for -$42.
Threw a bit away shorting MFE, then failed to stay with it and missed the solid move off the HOD.
Really it just came down to poor focus today. I was splitting focus between ES and trying to catch a few stock moves in between instead of just sticking with one thing or the other, and instead of catching the moves I wanted, I ended up scalping for pennies.
Still paper trading ES, long off the morningâs slightly higher low @ 913.00, sold @ 922.50 after much ranging. Scalped the range a bit, selling at 923.00, covering @ 922.00, mainly looking for a reversal. Final scalp, caught 2 pts instead of 1, not much reversal there. Feeling very comfortable with it after a couple days of hanging out with the actual ES (instead of just the SPX chart).
Tried to get a short position on ESRX end of day and got 100 shares lifted @ 68.65.
Caught one nice move at the open (STEC), shorting halfway through the opening selloff and covering very close to the round number bounce for +$86.
Had a small overnight short AM from Friday @ 10.72 and expected a quick selloff at the open, which did not materialize. This disturbed me, so I set a stop above the high of the opening range, hit for -$42.
Threw a bit away shorting MFE, then failed to stay with it and missed the solid move off the HOD.
Really it just came down to poor focus today. I was splitting focus between ES and trying to catch a few stock moves in between instead of just sticking with one thing or the other, and instead of catching the moves I wanted, I ended up scalping for pennies.
Still paper trading ES, long off the morningâs slightly higher low @ 913.00, sold @ 922.50 after much ranging. Scalped the range a bit, selling at 923.00, covering @ 922.00, mainly looking for a reversal. Final scalp, caught 2 pts instead of 1, not much reversal there. Feeling very comfortable with it after a couple days of hanging out with the actual ES (instead of just the SPX chart).
Tried to get a short position on ESRX end of day and got 100 shares lifted @ 68.65.
Hog, I really know what you mean. It "feels" very different working with an index future. I don't have to think about short interest, earnings, insider sales/purchases, analyst upgrades/downgrades. It's very clean and focused, just following S/R, it's like riding waves.
Hog, I sent you an email.
Quote from TheAngryHermit:
Good luck with the ES, nod! If anyone can do it, that person is you.
Hermit, thanks!
you need know economic data release schedule, some unexpected policy changes. market does not work like wave. if that easy, we all make money, but only few does.market will go vertical bar up/down.
the only difference is in future, you can exactly predict people's behavior like profit taking, short squeeze ....since one's loss is another one's gain, or vice visa.
I thought you started to trade ES today. do not paper trading, that means nothing, waste of time. trading is all about "buy low and sell high", someone likes to phade or someone likes to buy high and sell higher or sell low and buy lower, or whatever, the strategies are the same, the basic priciple is the same.
futures are 24hours tradable, that is a plus. since normally news are at the closing or at 8:30am.
the only difference is in future, you can exactly predict people's behavior like profit taking, short squeeze ....since one's loss is another one's gain, or vice visa.
I thought you started to trade ES today. do not paper trading, that means nothing, waste of time. trading is all about "buy low and sell high", someone likes to phade or someone likes to buy high and sell higher or sell low and buy lower, or whatever, the strategies are the same, the basic priciple is the same.
futures are 24hours tradable, that is a plus. since normally news are at the closing or at 8:30am.
Dollars&Sense
Registered: Mar 2008
Posts: 37
06-29-09 12:47 PM
--------------------------------------------------------------------------------
Quote from bighog:
So dollars & sense please explain to me and others what good is the dom ...
--------------------------------------------------------------------------------
No thanks. If you don't find the levels on the DOM useful then simply don't use them. Why stress over it? Besides this is NoDoji's journal. I don't feel it's appropriate to initiate or carry-on conversations with others in someone else's journal. Feel free to PM me if you'd like. ....END.........
......................... There is a saying in any profession: "if you can not explain your idea in a few words or less than your theroy is all wet and or useless". Which is it with you? I try to help people with proven ideas and thoughts not blowing smoke in their face.
PM you = FAT chance..
Agree, this is Nods journal so take your crap to some other thread. End of conversing with your dribble.
`
PS: Please do not ask what i really think of your dribble.
Registered: Mar 2008
Posts: 37
06-29-09 12:47 PM
--------------------------------------------------------------------------------
Quote from bighog:
So dollars & sense please explain to me and others what good is the dom ...
--------------------------------------------------------------------------------
No thanks. If you don't find the levels on the DOM useful then simply don't use them. Why stress over it? Besides this is NoDoji's journal. I don't feel it's appropriate to initiate or carry-on conversations with others in someone else's journal. Feel free to PM me if you'd like. ....END.........
......................... There is a saying in any profession: "if you can not explain your idea in a few words or less than your theroy is all wet and or useless". Which is it with you? I try to help people with proven ideas and thoughts not blowing smoke in their face.
PM you = FAT chance..
Agree, this is Nods journal so take your crap to some other thread. End of conversing with your dribble.
`PS: Please do not ask what i really think of your dribble.
Nod,
About 20 years ago when i was more aggressive in trading futs i had a seperate plan aside from regular day trading of commodities. That plan was called "Banging Meats". It was in a nutshell (2 accounts can also be used for this and is perfectly legal when you sign a paper saying your intention is for strategy and not to skew the open interest numbers, so said the broker at the time).
Back then and usually always the meats trade in rather narrow ranges so what i did was to trade long and short against each other within the ranges. Take the winner, double up on the loser. Work off the loss in one account and be making profit in the other. Fat cattle against fat cattle, feeder against feeder, live hogs against live hogs ( i think they call them lean hogs now), pork bellies against pork belliy. Different months against different months, etc, etc. It was frantic and fun, it was fast yet it was slow compared to now because i used the phone then and "BANGED" out market orders for fast fills. On average i made about 2K after commissions a day. At the end of each day the remaining losers were just exited and deducted from the winnings, the winnings ALWAYS were more. (commissions were approx $25 to $30 a trade, yikes). Ok, thats end of history for that strategy.
I will later give you the new version of what i call the "First hour Gang bang" for +6/-6 ORB trades. It involves also trading in the DEAD ZONE yet seperate than the +6/-6 lines.
PS: Econ times for numbers need to be known so a pop in price is not a complete surprise. http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm
About 20 years ago when i was more aggressive in trading futs i had a seperate plan aside from regular day trading of commodities. That plan was called "Banging Meats". It was in a nutshell (2 accounts can also be used for this and is perfectly legal when you sign a paper saying your intention is for strategy and not to skew the open interest numbers, so said the broker at the time).
Back then and usually always the meats trade in rather narrow ranges so what i did was to trade long and short against each other within the ranges. Take the winner, double up on the loser. Work off the loss in one account and be making profit in the other. Fat cattle against fat cattle, feeder against feeder, live hogs against live hogs ( i think they call them lean hogs now), pork bellies against pork belliy. Different months against different months, etc, etc. It was frantic and fun, it was fast yet it was slow compared to now because i used the phone then and "BANGED" out market orders for fast fills. On average i made about 2K after commissions a day. At the end of each day the remaining losers were just exited and deducted from the winnings, the winnings ALWAYS were more. (commissions were approx $25 to $30 a trade, yikes). Ok, thats end of history for that strategy.
I will later give you the new version of what i call the "First hour Gang bang" for +6/-6 ORB trades. It involves also trading in the DEAD ZONE yet seperate than the +6/-6 lines.
PS: Econ times for numbers need to be known so a pop in price is not a complete surprise. http://www.briefing.com/Investor/Public/Calendars/EconomicCalendar.htm
+$257 Day
+$2845 Month
+$16671 YTD (28%)
Limited my focus to the stocks I know and batted 1000 today, not bad for 2200 shares. My biggest regret was missing the picture altogether on ES this morning.
Had my 100 share overnight ESRX from yesterdayâs partial fill on and placed an initial target just below the low bid on open @ 68.38 hit for +$26.
At 10 a.m. Iâm watching ESRX (69.28) and ES (925.00) both near HOD and looking weak and suddenly everythingâs falling. Offered 69.04 ESRX on the way down, got only 100 share fill and didnât chase.
I didnât want to short ES at that point because it had dropped off so rapidly, and was down to 922.00 support area. This was a very unfortunate decision on my part for there were MANY points of profit waiting for the quick savvy trader (not me). All I saw was support and that it had fallen 3 points from the price I was about to short at, and surely would bounce. Technically a break down thru 922.00 was the optimal short signal, and I missed that big picture. It was some real noob thinking on my part and cost me a very nice trade indeed.
Trailed a stop and a limit on ESRX, limit hit for +$43.
Short ESRX @ 68.51, pullback from bumping its head against the 20-period MA, and (unbelievably) got a 100-share fill again! Covered @ 68.08 for +$41.
Watching AM up there in the 11.80âs and it was winking at me from across the dance floor. I went to grab tea andâ¦oh you know the story by now.
Short ROST @ 38.75, overbought, possible establishment of an uptrend so I quickly moved stop to b/e and trailed it fairly close. As it became oversold, I trailed it quite tight, expecting possible bounce from above the LOD, hit @ 38.55 for + $38.
Short ROST @ 38.66, overbought formed lower high to previous resistance, covered @ 38.55 for +$20
Really I was just scalping ROST for small moves during the doldrums, hoping to eventually catch a retest of near term 38.00 support. Since 38.50 was the intraday strong support level and it was attempting to establish a possible uptrend, I simply took profits each time it moved to the moving average line.
Short ROST @ 38.71, overbought, near previous resistance, tightened stop again near support, hit @ 38.60 for +$20.
Offered 11.85 for AM on the run near the HOD and missed by .02 cents. Left the offer standing and a second attempt missed as well by a penny or two. When it dropped to higher low forming a bull flag, I pulled the offer, deciding it had too much strength to short today.
Started watching STEC and missed that final ROST short that provided very close to the breakdown Iâd been shooting for.
Short STEC @ 23.47 using the âHey, I havenât shorted STEC todayâ strategy. (Actually it was following a very sharp drop through the 20-period MA, followed by a failure to thrive at the 10-period MA.) Moved stop in close, hit @ 23.33 for +$25, missed a bit of extra move on that one.
Short STEC @ 23.51, overbought, failure to hit previous resistance, trailed a limit as it crashed, couldnât trail it fast enough, lifted @ 23.25 for $50. What a fantastic move that was!
+$2845 Month
+$16671 YTD (28%)
Limited my focus to the stocks I know and batted 1000 today, not bad for 2200 shares. My biggest regret was missing the picture altogether on ES this morning.
Had my 100 share overnight ESRX from yesterdayâs partial fill on and placed an initial target just below the low bid on open @ 68.38 hit for +$26.
At 10 a.m. Iâm watching ESRX (69.28) and ES (925.00) both near HOD and looking weak and suddenly everythingâs falling. Offered 69.04 ESRX on the way down, got only 100 share fill and didnât chase.
I didnât want to short ES at that point because it had dropped off so rapidly, and was down to 922.00 support area. This was a very unfortunate decision on my part for there were MANY points of profit waiting for the quick savvy trader (not me). All I saw was support and that it had fallen 3 points from the price I was about to short at, and surely would bounce. Technically a break down thru 922.00 was the optimal short signal, and I missed that big picture. It was some real noob thinking on my part and cost me a very nice trade indeed.
Trailed a stop and a limit on ESRX, limit hit for +$43.
Short ESRX @ 68.51, pullback from bumping its head against the 20-period MA, and (unbelievably) got a 100-share fill again! Covered @ 68.08 for +$41.
Watching AM up there in the 11.80âs and it was winking at me from across the dance floor. I went to grab tea andâ¦oh you know the story by now.
Short ROST @ 38.75, overbought, possible establishment of an uptrend so I quickly moved stop to b/e and trailed it fairly close. As it became oversold, I trailed it quite tight, expecting possible bounce from above the LOD, hit @ 38.55 for + $38.
Short ROST @ 38.66, overbought formed lower high to previous resistance, covered @ 38.55 for +$20
Really I was just scalping ROST for small moves during the doldrums, hoping to eventually catch a retest of near term 38.00 support. Since 38.50 was the intraday strong support level and it was attempting to establish a possible uptrend, I simply took profits each time it moved to the moving average line.
Short ROST @ 38.71, overbought, near previous resistance, tightened stop again near support, hit @ 38.60 for +$20.
Offered 11.85 for AM on the run near the HOD and missed by .02 cents. Left the offer standing and a second attempt missed as well by a penny or two. When it dropped to higher low forming a bull flag, I pulled the offer, deciding it had too much strength to short today.
Started watching STEC and missed that final ROST short that provided very close to the breakdown Iâd been shooting for.
Short STEC @ 23.47 using the âHey, I havenât shorted STEC todayâ strategy. (Actually it was following a very sharp drop through the 20-period MA, followed by a failure to thrive at the 10-period MA.) Moved stop in close, hit @ 23.33 for +$25, missed a bit of extra move on that one.
Short STEC @ 23.51, overbought, failure to hit previous resistance, trailed a limit as it crashed, couldnât trail it fast enough, lifted @ 23.25 for $50. What a fantastic move that was!
Yesterday, I created a test swing trade portfolio based on daily (30-day) chart setups I saw near yesterdayâs close. I put on 200 shares apiece of 6 stocks and the attachment shows the results at 2 p.m. (which was when the market pivoted off the dayâs lows and I wouldâve closed the positions), providing almost a $1500 gain on that selection of trades. Iâll be testing these overnight swings for a while, wanting to do something productive with the half of my capital thatâs still in Etrade.
- Status