S/R Emini Journal

[riaamaan]

Just to give an idea of what this rookie is thinking....Short at 68.75 and concerned about the lateral movement here.

 

[4re]

I was about to shut down my dome for a little bit when my order got executed. I really need to leave for about an hour so I bailed and took a 1/2 point loss on it. Maybe after lunch. I really would like to see more momentum in it.

 

[romik]

Quote from FuturesTrader71:

68.25 is value low based on yesterday's volume profile. I used it as an exit for an earlier short. The trend on the 5 min is clearly down, but the first bounce off that value low was good. I'm waiting for it to hold under value to get short. Just a thought...

interesting FT, would you have a graph for that? I have never used volume profiling in the past for exit targets, though I do like to see potential exits from different perspectives. thanks.

 

[4re]

I can still see this trade working I just don't like the lunchtime trading.

 

[riaamaan]

Thinking about re-entering short....very low volatility at the moment, trend is down, and we may get an NR7 on the 5min.

 

[romik]

Quote from romik:

Gary, if you are still holding, I am short 68.25, hell knows whether that would help you or not though, stop 70.50

busted, will re-enter same level via usual rules.

 

[riaamaan]

Nice divergences forming on the 15m, Stochastic and CCI. An afternoon rally in the offing?

 

[FuturesTrader71]

Quote from romik:

interesting FT, would you have a graph for that? I have never used volume profiling in the past for exit targets, though I do like to see potential exits from different perspectives. thanks.

Comments on the MP chart attached. This represents the information at the time of the first test. Anything can happen as the day moves on.

 

[JimmyJam]

Question:

If I stay flat on a shitty day, and don't lose money, and then latter on, when a condition setsup nicely, I enter a trade, and make money, isn't that like making money on both days?

Not trading on crappy days, and entering good trades on wide ranging days, is one of the best traits a trader can develop to become successful in this business.

 

[riaamaan]

Quote from JimmyJam:

Question:

If I stay flat on a shitty day, and don't lose money, and then latter on, when a condition setsup nicely, I enter a trade, and make money, isn't that like making money on both days?

Not trading on crappy days, and entering good trades on wide ranging days, is one of the best traits a trader can develop to become successful in this business.

Most definitely true. I concur with all your points JJ. I consider you a valuable poster and am trying to learn from you as well as all the other seasoned traders here.