S/R Emini Journal

Lamont_C · May 25, 2006

Quote from 4re:

Note: I do believe we could have a nice short opportunity at 1264. It provides all the criteria in planning my trades. Should have momentum when it pushes through and could go 4 points fairly easily. IMO

When you have a consolidation that's hugging the S/R level you're working with, do you trade the break out of that consolidation or wait for the test of the next higher/lower S/R?

4re · May 25, 2006

Quote from jrlvnv:

i got trigger happy in the morning at 68 but couldn't get the 2 points and I saw the same support at 64 and I entered at 63.50 and that trade didn't work well either

This is a weird day so maybe strting the holidays early. Did you get out of the 68 with anything?

jrlvnv · May 25, 2006

Quote from 4re:

This is a weird day so maybe strting the holidays early. Did you get out of the 68 with anything?

i am a 2 point person. wasn't a big position either so I had a 2 point stop out

4re · May 25, 2006

Quote from Lamont_C:

When you have a consolidation that's hugging the S/R level you're working with, do you trade the break out of that consolidation or wait for the test of the next higher/lower S/R?

It depens on what my moving averages tell me at that point. And if I do it with caution. Do you?

4re · May 25, 2006

Quote from jrlvnv:

i am a 2 point person. wasn't a big position either so I had a 2 point stop out

I got ya, I used to do that also until I had several trades go 1.5 in my favor and then reverse to a losing trade. Then it usually comes back and I could enter again. If I take 1 point the first time then the second I just look for 1.25 the next time. I come out with the same amount of money for the day.

K-Rock · May 25, 2006

Quote from 4re:

Yes, we may not get any good pushes today. I'll watch a lttle longer.

BTW, did get any points so far?

I'm getting chopped to death.

Since volume is low I'm switching to a higher time frame.

It's a good thing I'm trading on the simulator today.

4re · May 25, 2006

Quote from K-Rock:

I'm getting chopped to death.

Since volume is low I'm switching to higher time frame.

It's a good thing I'm trading on the simulator today.

Looks like the only volume we are getting is on the downside. I am flat and the way it looks I may stay that way. So far 1 trade for 1 point is all I have.

GL

Lamont_C · May 25, 2006

Quote from 4re:

It depends on what my moving averages tell me at that point. And if I do it with caution. Do you?

With a tight stop, yes, if the consolidation is hard, i.e., well-defined.

4re · May 25, 2006

Quote from Lamont_C:

With a tight stop, yes, if the consolidation is hard, i.e., well-defined.

Totally agree. Today we might not get anything else. We'll see what the PM does. Looks like we have a slight bullish divergence right now though.

Lamont_C · May 25, 2006

Quote from 4re:

Totally agree. Today we might not get anything else. We'll see what the PM does. Looks like we have a slight bullish divergence right now though.

I'm done. Pace is terrible.