S/R Emini Journal

[4re]

Quote from JimmyJam:

Couldn't agree more.

I like the early basing action.

If it takes off, it should develop into a nice trend.

Which I hope it does, considering that I'm long @ 1282.75 (not a recommendation).

(I use previous afternoon sessions numbers for minor S/R, and the day before's for major S/R).

Morn'in

Jimmy

Mornin JJ and gang,
I am currently long at 1284, didn't get filled the first time it hit. Boy am I glad. This trade was scary enough as it is bu tI am sticking with it. Try to get my full 2 points out of it.

4re

 

[romik]

Quote from 4re:

Mornin JJ and gang,
I am currently long at 1284, didn't get filled the first time it hit. Boy am I glad. This trade was scary enough as it is bu tI am sticking with it. Try to get my full 2 points out of it.

4re

get backy wacky out

 

[4re]

Quote from romik:

get backy wacky out

I was a chewin and a spittin my tobacky and made my 2 points. As we say down here in Big D, YEE HAW!!!

4re

I thought we might be losing steam there at the end though. Glad to see that extra push.

 

[Cariocas]

No offense taken. Your comments resonate with what I've been doing over the last few years. Thanks for sharing your wisdom.

4re,
Great thread. Hopefully, it'll stay immune to the.... oh well, that's for another discussion

Cariocas

Quote from hardyards:

I mentioned in a post earlier that there are several matters that I am not prepared to discuss, software being one of them.

 

[JimmyJam]

Quote from 4re:

I was a chewin and a spittin my tobacky and made my 2 points. As we say down here in Big D, YEE HAW!!!

4re

I thought we might be losing steam there at the end though. Glad to see that extra push.

Yeah, well, when the game is good, I don't doubt .

So now I guess I'll just run some errands, go get some coffee and watch the action.

Later,

JJ

P.S. BTW 4re, I was over at goodday's thread talking about gaps (or japanese windows, which is how I think of them). He likes to fade'me (because eventually, they almost always will be closed), whereas I always trade in their direction (being the trend follower that I am), but I just wanted to mention that, because it might be usefull to develop an options trading method around the principle - either one, trending or fading 'em, or setting up a straddle (long above, short below) ...who knows?

 

[4re]

Quote from JimmyJam:



P.S. BTW 4re, I was over at goodday's thread talking about gaps (or japanese windows, which is how I think of them). He likes to fade'me (because eventually, they almost always will be closed), whereas I always trade in their direction (being the trend follower that I am), but I just wanted to mention that, because it might be usefull to develop an options trading method around the principle - either one, trending or fading 'em, or setting up a straddle (long above, short below) ...who knows? [/B]

I have seen people trade options like that but you really need big moves for my type of option plays. There are scalpers that do it though, especially during earnings seasons.

4re

 

[riaamaan]

Quote from 4re:

Mornin JJ and gang,
I am currently long at 1284, didn't get filled the first time it hit. Boy am I glad. This trade was scary enough as it is bu tI am sticking with it. Try to get my full 2 points out of it.

4re

I did get filled at 84 and quickly saw 2 pts evaporate. However, the rules say we can try again and my observation has been that if the path of least resistance is followed, you should prevail. I doubled my order and went long at 84 the second time and got my 2. Any thoughts on the prudence of doubling the lot size in the context of this trade? I know it's not a good idea as a matter of routine, but I felt it had high probability of working.

riaamaan

 

[4re]

Quote from riaamaan:

I did get filled at 84 and quickly saw 2 pts evaporate. However, the rules say we can try again and my observation has been that if the path of least resistance is followed, you should prevail. I doubled my order and went long at 84 the second time and got my 2. Any thoughts on the prudence of doubling the lot size in the context of this trade? I know it's not a good idea as a matter of routine, but I felt it had high probability of working.

riaamaan

Riaamaan,
How are you doing this morning...Doubling is usually a gutsy move that I try to avoid. BUT, this morning after our opening move up we started forming a pennant (kinda funky one) and when it broke through it did it with power. So, I guess what I am getting at is that if you see something like that to confirm it it isn't as gutsy as just doing it blindly. I have done it and I imagine most others have as well. Just make sure you have some other confirmation before doing it. Good trading today though. I am glad you made it. Did it scare you about half way through?

4re

 

[4re]

Here is something to keep your eyes on. It looks like a bull flag forming right now. If you will notice that as the price keeps falling so does the volume. This is an indicator I usually use with a flag pattern. A breakout to the upside of this flag should make for a decent play with a lot of momentum.

4re

 

[4re]

Quote from 4re:

Here is something to keep your eyes on. It looks like a bull flag forming right now. If you will notice that as the price keeps falling so does the volume. This is an indicator I usually use with a flag pattern. A breakout to the upside of this flag should make for a decent play with a lot of momentum.

4re

Well I for got to post the chart. Here it is...