S/R Emini Journal

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Quote from Thom64:

Greetings,

Thanks for the reply,very helpful.I've been trading several indexes,usually screw myself more often than not.

As some of you may remember,I was martingaling some trades,with my stop as the trigger for the reversal,I used it last week with QG,and caught a real nice move down,only when I covered,I accidently doubled,erasing all the gains,and then some.

Not a good idea unless your nimble with your fingers,and good at handling a volatile move.

Thanks again,
Peace,Tom
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ouch, hope you didn't lose much
 
Quote from 4re:

ouch, hope you didn't lose much
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Greetings,

What should have been a .20 per contract gain turned into a .04 x 4 loss,could have been worse,almost didnt realise what I did.Has since dropped over $1 since,X4 =10k goof.

Peace ,Tom
 
Looking at the after market activity now, it looks like somebody knows something. Sizable move up during the Tokyo session.
Unrelated coincidence perhaps? Maybe a set up for a headfake. Maybe the Feds leave rates alone tomorrow. Seems like a big player in Japan anticipates an upward move.
 
Quote from riaamaan:

Looking at the after market activity now, it looks like somebody knows something. Sizable move up at the Tokyo open.

Unrelated coincidence perhaps? Maybe a set up for a headfake. Maybe the Feds leave rates alone tomorrow. Seems like a big player in Japan anticipates an upward move.
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That might have been why we had some good buying into the close today. For me, I don't care which way it moves. I'll try to be ready for it. Have a good night
 
Quote from 4re:

That might have been why we had some good buying into the close today. For me, I don't care which way it moves. I'll try to be ready for it. Have a good night
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Yeah, I don't care which way it moves either, so long as it's moving in a direction that's making me money rather than losing it.
 

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•Fed pauses=economy slowing=profits slowing=lower stock prices.
•Fed raises=economy still strong=profits strong=higher stock prices.

Okay, for those of you who understand this stuff better than I do...please explain why my reasoning is wrong. All I hear is a pause is good for the bulls.

MDT

btw...I don't care either way. I'm with you guys...just ride the train whichever way it decides to go!
 
Here's another way of looking at S/R, although on ER(AB). Fib lines extended from close of yesterday to today's open on 15min chart. Usually this zone will act as S/R for the whole day. Good for 2 points when breached either way after the open.

Hope you folks (& Gary) don't mind having an oldtimer park some of his experience here.

Cariocas
 

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Quote from MiniDowTrader:

•Fed pauses=economy slowing=profits slowing=lower stock prices.
•Fed raises=economy still strong=profits strong=higher stock prices.

Okay, for those of you who understand this stuff better than I do...please explain why my reasoning is wrong. All I hear is a pause is good for the bulls.

MDT

btw...I don't care either way. I'm with you guys...just ride the train whichever way it decides to go!
More...

One thing I'm not is an economist but the way I understand it the markets are worried that the Fed will overdo it with the rate hikes and put recessionary pressures on the economy.

Higher rates=costlier for business to borrow money for expansion=slower business growth.

That could mean anywhere from a modest slowdown in corporate earnings to layoffs and an economy that goes into the crapper.

With inflation already testing the ever spending and ever resilient consumer, a slowdown in business would not be good. And lower corporate earnings usually translate into lower stock prices and a lower overall market.
 
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