S/R Emini Journal

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Quote from JimmyJam:

he he he,

thanks sandy, looks like i'm not the only one around here who doesn't pay attention to that stuff ...:)



jimmy
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yeah yeah, I hear you laughing at me. I don't really pay attention to a lot of news either. They have added sooo many conferences and meetings and this and that, blah blah blah. Most of it don't mean squat it is just something to help keep somebody on the payroll at some office. IMHO...LOL :D
 
Quote from JimmyJam:

There's a book about playing poker "zen and the art of poker" or something, it's a traders masterpiece, I highly recommend it for anyone who does any type of "gaming" type of activity.

Jimmy
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My copy of Zen and the art of Poker is tattered and worn. It also has about 100 post-it notes sticking out of it!
:D :D :D
I'm with Jimmy, it's an excellent read for trading.
MiniDowTrader
 
Quote from 4re:

Did anybody else play the second trade? I got 1.25 points on it so I have my 2 +commish money.

4re
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Tried. Didn't get filled . . .

At least I know the S/R levels I'm looking at are important somewhere outside my head.
 
Quote from JimmyJam:



And Dr. Alexander Elder actually is the first time i was exposed to using 3 separate time frames, and the logic behind it.

From what i've read he only uses it for stocks (if at all) and doesn't really believe you can make a consistent profit intra-day trading (and for the record, most traders don't) AND he makes his living by giving seminars and writing books, not by trading, which while I'm a little skeptical of the concept (here, give me US$1,500 and I'll teach all 50 of you people how to trade = a quick $75,000 - suckers!:eek: ... oh wait, that's the TI business model) a lot of people do respect what he has to say, so who knows?

OK, Coffee and Wash Time

Jimmy
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Actually he built his fortune on trading before he started teaching. Big difference, Franz...Know what I mean...
 
Quote from Lamont_C:

Given all the R you're facing, you'll have to maintain a fairly wide stop.
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I'm done for today, but if I were still long my stop would be at about 1264.50 (until another lower-low is established). Next resistance levels are at 1274 and 1279, provided price can break 1272.50.
 
Quote from Lamont_C:

Tried. Didn't get filled . . .

At least I know the S/R levels I'm looking at are important somewhere outside my head.
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I think they probably are. I was noticing a bull flag forming on the 3 minute chart when it decided to pop out of it. My alarm went off and next thing you know I was out of the trade. I like those.
 
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