S/R Emini Journal

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4re -

I understand that you were working your BB method today (which seemed to work quite well).

However, does that mean you didn't play your 1272.5 breakout long call from last night?

I'm just wondering how I could have managed it better. It hit 1273.5 before turning down and eventually hitting my 1270.5 stop (but later it went up again to a high of 1274.25).

Would you have taken the long on the second time up through 1272.5?

Thanks.

Sandy
 
Quote from sandygray66:

4re -

I understand that you were working your BB method today (which seemed to work quite well).

However, does that mean you didn't play your 1272.5 breakout long call from last night?

I'm just wondering how I could have managed it better. It hit 1273.5 before turning down and eventually hitting my 1270.5 stop (but later it went up again to a high of 1274.25).

Would you have taken the long on the second time up through 1272.5?

Thanks.

Sandy
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Today I would have been in your shoes on this one. I doubt that there was anything you could have done to save this one. Sorry for your loss.
 
Quote from romik:

BTW 4RE what time frame do you trade off BBs?
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I use a 15 minute chart. The 5 minute gives good signals for several points but yesterday I wanted to use only the 15 and go for more points but only with 1 contract at a time. Just testing it out.
 
Quote from 4re:

I use a 15 minute chart. The 5 minute gives good signals for several points but yesterday I wanted to use only the 15 and go for more points but only with 1 contract at a time. Just testing it out.
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so are you still trading your s/r strategy?
 
Quote from monti1a:

so are you still trading your s/r strategy?
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Yes, just wanted to test the BB theory using real money. Not finished testing it yet though.

S/R is my main method and I will always use it until it fails me. Since it has been around for such a long time I can't see that happening anytime soon.
 
For anyone who's interested, here's how 5Pillars trades around Support / Resistance levels.

This url leads to his thread where he discuss using a bracket trading methodology, posts his results in terms of % gained, and is basically looking for any other traders here at ETwho use the concept:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=69979&perpage=6&pagenumber=1

Now, this url leads to a thread where he makes a comment to the thread originator about trying the concept on the YM, and then if you look further down the page you will see that he made another postand this post includes the urls which shows his long and short strategy:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=70760&perpage=6&pagenumber=4

Basically he's using Trademaven (for testing purposes only!) to create 4 "bracket" trades at S/R (at least that is what it looks like to me).

You can try it and see if it works for you (I don't think I'm going to).

Best,

Jimmy
 
Romik,

Just curious, have you ever read Dr Alexander Elders book Come Into My Trading Room? He uses the same divergence type trading on stocks that you seem to be using on futures. He uses a triple screen method so that he can see it develop at different time frames.

You appear to have that method down very nice right now. How long have you been doing it?

4re
 
Quote from 4re:

Romik,

Just curious, have you ever read Dr Alexander Elders book Come Into My Trading Room? He uses the same divergence type trading on stocks that you seem to be using on futures. He uses a triple screen method so that he can see it develop at different time frames.

You appear to have that method down very nice right now. How long have you been doing it?

4re
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Hi 4RE, hope you've had a wonderful weekend and batteries have been recharged and fridge piled up high with steaks :D

I've read about divergences a while back from various sources, but only really started applying them about a month ago, seeing how B1S2 uses it for his positional trading made me think, hey, longer time frame divergences might develop from shorter time frames and that's how this method came about for me. As I've said earlier on, like yourself, my main method is multi lot trades scaling out aiming for 1-3 points per trade. But consider this for a moment:

10 lot trade using 2 point stop would result in $1,000 average win/loss, not even talking about transactional fees.

1 lot trade using 2 point stop would result in $100 average loss, though your wins should outstrip, by far, your average losses.

I am using a separate account for divergence based trades. I have recently added CCI indicator and if you check out last Fridays turning points on 10-15 minute charts - CCI signals were spot on. Therefore, I now use MACD Histogram, RSI and CCI indicators and I tell you sometimes you can see divergences happening on 2 or even 3 indicators simultaneously, obviously the more divergences happening at the same time, the stronger the signal would be.

Romik

P.S. B1S2 is all cash, I can't quite afford that, that's why shorter time frames with much higher leverage than in his case obviously.
 
Romik,

Roger that. I have been reading Come into my trading room and looking at his trades in the back of the book he is using pretty close to your method.

Yes, B1S1 is very a admirable trader. I have been looking at his thread for a while. And it looks like you are becoming quite consistant as well.

I have loaded my fridge up with the best steaks. I better get to eat them this week or I'll go crazy. Gotta have me a big tater to go with it to.

Personal question: what part of the country are you in? I am in Dallas and sure would like to meet some other traders in this area.

Have a good trading day tomorrow,
4re
 
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