S/R Emini Journal

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Quote from 5Pillars:

JP - Lets do a small exercise together, like a little learning quiz. We will make this real simple with only two answer choices per test question. You will choose the answer for each question in your mind with the word, "LONG" or "SHORT"......real simple. Nothing special for this quiz, just use your common sense from any data in each example.

Here we go.........

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Q #1 --- At the completion of the 08:39 CST bar would you want to enter LONG or SHORT?

http://www.charthub.com/images/2006/09/13/ESZ6_MD.png

Have your answer....here is the next few minutes of trading after the 08:39 bar.........

http://www.charthub.com/images/2006/09/13/ESZ6_MD_2.png

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Q #2 --- At the completion of the 09:07 CST bar would you want to enter LONG or SHORT?

http://www.charthub.com/images/2006/09/13/ESZ6_MD_3.png

Have your answer....here is the next few minutes of trading after the 09:07 bar.........

http://www.charthub.com/images/2006/09/13/ESZ6_MD_4.png

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Q #3 --- At the completion of the 10:06 CST bar would you want to enter LONG or SHORT?

http://www.charthub.com/images/2006/09/13/ESZ6_MD_5.png

Have your answer....here is the next few minutes of trading after the 10:06 bar..........

http://www.charthub.com/images/2006/09/13/ESZ6_MD_6.png

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Q #4 --- Tough call here...at the completion of the 14:04 CST bar would you want to be LONG or SHORT (near the days HOD).........

http://www.charthub.com/images/2006/09/13/ESZ6_MD_7.png

Have your final answer....here is the next few minutes of trading after the 14:04 bar..........

http://www.charthub.com/images/2006/09/13/ESZ6_MD_8.png

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As you can see, this should help show the potential of the "delta" information and the ability to find good daily set-ups that all yield over 1 point per trade. This was just a short quiz to get your mind flowing with the possible tools that are available to traders to hack away at these crazy markets. :)
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Are you saying that every trade you take has a chart like that? I easily scored correct on each of the charts you presented.

Bottom line, my MarketDelta was all over the place in terms of the delta number. Yours appears to show an increasing delta at each bar, confirming your decision to go long. My chart would fluctuate all over the place. Sometimes doing what you've shown, more often than not, one 5 min bar would have a positive delta, followed by a huge negative delta on the next bar, followed by a positive delta on the next bar and so on.
 
Quote from DonKee:

Summer can be a great time to do credit spreads. Wait for range expansion in the May/June time frame then put on your spreads for July and August, both put and call credit spreads. That way, you watch the "air" come out of the premiums and pocket the money without a ton of risk.
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Yes, I like these set ups as well. Another method I like in the summer is just to watch the Bollinger Bands and when they get real tight and start to make a move price is usually very good for a strangle or straddle. I have been building my Q's positions since July.
 
In regards to "hope" I can add my point of view. Yes everybody hopes that their trade will work out, but there is another hope, where a trade decision is made based on trader's feel of current market sentiment, rather than having established enough reasons prior to enter the trade. Basically, if a trade decision can be explained, then there is nothing wrong with hoping that trade is a winner IMO.
 
Quote from princessa:



and if you ask me, everyone hopes. it's just that a good trader knows when to cut her losses....
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I hope with every trade I take that I am right. I'll even cross my fingers and scream at the monitor. All no no's in others traders eyes but I use any and everything at my disposal to make that trade work.
 
Quote from princessa:

that's why i prefaced the comment by saying that i know hope is a bad word. but then i said it anyway, because who are they ( or you) to tell me what i can and cannot say?

and if you ask me, everyone hopes. it's just that a good trader knows when to cut her losses....
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I did not tell you what to say or think. I just stated a important premise that is one of the foundations of trading for a living.


Don't push me if you still want that backstage pass to my concert.


:p
 
I need to leave and take care of my Corporate taxes and run a couple of errands. If you guys don't mind doing me a favor just hold the market where it is for a couple of hours. I would greatly appreciate it.
 
Quote from 4re:

I hope with every trade I take that I am right. I'll even cross my fingers and scream at the monitor. All no no's in others traders eyes but I use any and everything at my disposal to make that trade work.
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I thought your favorite book is The disciplined trader ?
Where in mark's book does it say that lack of control over your emotions fit into discipline ?
 
Quote from romik:

In regards to "hope" I can add my point of view. Yes everybody hopes that their trade will work out, but there is another hope, where a trade decision is made based on trader's feel of current market sentiment, rather than having established enough reasons prior to enter the trade. Basically, if a trade decision can be explained, then there is nothing wrong with hoping that trade is a winner IMO.
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amen, romik, my point exactly....
 
Quote from volente_00:

I did not tell you what to say or think. I just stated a important premise that is one of the foundations of trading for a living.


Don't push me if you still want that backstage pass to my concert.


:p
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okay, honey....:p
 
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