S/R Emini Journal

Status
Not open for further replies.
Tried to pick top by buying small quantity DIA SEP113put & SPY 130 put by3.00pm hoping they will close it down.Nope!(wrong idea against the trend/price action)
Both options down 0.10/0.15. Any way next week will get oppurtunity to get out with small profit if the market retraces & checks out the previous 2days range.
Or have to double up at much higher levels!!
Futures only 1 or 2 contracts.Options (debit) will bet big at the range extreme.
 
Quote from krishiyer:

Tried to pick top by buying small quantity DIA SEP113put & SPY 130 put by3.00pm hoping they will close it down.Nope!(wrong idea against the trend/price action)
Both options down 0.10/0.15. Any way next week will get oppurtunity to get out with small profit if the market retraces & checks out the previous 2days range.
Or have to double up at much higher levels!!
Futures only 1 or 2 contracts.Options (debit) will bet big at the range extreme.
More...

From what I heard the options were real screwed up yesterday afternoon on the dia,spy and q's. At least you have several weeks to get out of them.
 
Gary, did you check out the 130 spy call action ? They were going for .10 at 10:30 and ended up at .60. 1k to 6k is not to bad for a day of work if you had the balls.
 
Quote from volente_00:

Gary, did you check out the 130 spy call action ? They were going for .10 at 10:30 and ended up at .60. 1k to 6k is not to bad for a day of work if you had the balls.
More...

I heard it was weird but I haven't looked at the contracts lately
 
Quote from krishiyer:

Tom
Iam glad you found a system to scalp 15 YM points every day.
I guess you are watching longer period charts(15m) instead of 1/3 minutes? or Or Are you using range charts?
I use in medved QT ,YM charts with 7-8 range candle.It gives more reliable signals with indicators instead of watching 1/2/3 min.Market chatter is more than tick even if it is in a trend.
what is absoulte stop every time you eneter? 8-12 ticks or subjective watching EMA support/lKeltner channnel like that?
I am posting my chart set up.Your chart set up ot other's welcome to broaden my horizon.
More...

Krishiyer
I use QT but have never used range charts. Could you please share the settings to create the chart that you posted?

It looks interesting but seems to have lots of different indicators with specific setting.

Thanks,
tt
 
Alright everyone,
Monday is creeping up on us. I am hoping for a better week this week. Last week I just barely made any money. Here are my numbers for tomorrow.

Long 1308. 25 - 1311.25
or 1312.75 - 1319.25 just in case we open higher in the morning

Short 1295.25 - 1291.75

Good luck everyone, lets make some money

Gary
 

Attachments

Here is something I found on the internet, I think we can all see some of our past (I hope) mistakes in this...

Are you new to trading stocks?

Hi, my name is Craig, and I would like to be the first to welcome you to the exciting world of swing trading!

I have compiled a list of tips on trading stocks that I think you will enjoy. These tips will put you on the fast track to trading like a pro!

Be sure to tell all of your trading friends so they can make a ton of money also!

Here they are...

Top 10 Ways To Lose All The Money In Your Trading Account In 30 Days Or Less - Guaranteed!
#10 - Put all of your efforts into finding the perfect technical indicator. Once you find this magical indicator, it will be like turning on a water faucet. Go all in. The money will just flow into your account!

#9 - When your technical indicator says that the stock is oversold, BUY IT RIGHT THEN. Always do what your technical indicator says to do. It takes precedence over price action.

#8 - Make sure to visit a lot of stock trading forums and ask them for hot stock tips. Also, ask all your friends and family for stock tips. They are usually right, and acting on these tips can make you very rich.

#7 - Watch what other traders do and be sure to follow the crowd. After all, they have been trading a lot longer than you so naturally they are smarter.

#6 - Pay very close attention to the fundamentals of a company. You MUST know the P/E ratio, book value, profit margins, etc. Once you find a "good company", consider going on margin to pay for shares in their stock.

#5 - Forget about developing a trading plan. If you see a good stock just buy it. Don't worry about when your going to sell. No need to get caught up in the details. Besides, you'll probably get rich the first year of trading anyway.

#4 - Buy expensive computers and trading software. While your at it, buy a couple more TV's so that you can watch CNBC on multiple screens! You NEED all of these gadgets in order to trade stocks successfully. Then watch the money roll in!

#3 - Always follow your emotions. They are there for a reason. If you feel nervous, sell the stock! If you are excited, buy more shares. This is the best way to trade stocks and fatten up your trading account.

#2 - Don't worry about using stop loss orders. When the time comes, you will be able to sell your shares and take a loss. Your emotions won't even come into play. Besides, stop loss orders are for sissies!

#1 - Absolutely, without a doubt, FORGET about managing your money. Don't worry about how much you can lose on a trade. Only think about how much loot your gonna make. Then start planning that trip to Fiji!

Well, there you have it - my top 10 tips for new traders.

This list was easy to write.

I followed them all when I first started trading.
 
Quote from krishiyer:

Tom
Iam glad you found a system to scalp 15 YM points every day.
I guess you are watching longer period charts(15m) instead of 1/3 minutes? or Or Are you using range charts?
I use in medved QT ,YM charts with 7-8 range candle.It gives more reliable signals with indicators instead of watching 1/2/3 min.Market chatter is more than tick even if it is in a trend.
what is absoulte stop every time you eneter? 8-12 ticks or subjective watching EMA support/lKeltner channnel like that?
I am posting my chart set up.Your chart set up ot other's welcome to broaden my horizon.
More...

Greetings,

I like the look of your charts,it looks cleaner than what Im watching.

My set up is very basic,and some will likely feel its risky.My usual profits are made when the market is ranging,I pick up 5-10 pts throughout the day.My stop is very tight,usually less than 5 when I get an entry the end of a range,with my stop also being a buy in the opposite direction,sometimes a double.

Im tryng to make points in either direction,and take advantage of being wrong on a set up by reversing.EOD on Friday was tricky,and I violated my rules of avoiding last hour of trading.Got whipsawed at the close ending up net 2 pts with what should have been 10 or 15.I was up 23 net on the day and should have called it quits.I was watching trades,and I think i prefer not to be trading when big blocks are going off,can knock a little guy like me around.I can see how overtrading can kill your profits,up until the close it took me 4 trades to net 23,the final 15 mins took me 4 to net 2.

As far as my indicators,Im using a 5 min. candle with all pivot points offered on the screen.,along with PSAR,SMA,and keltner bands.Below I have NVI and PVI set at 2,and am watching it only for experimental idea on looking for a trend.No trades using that at all.I'll be happy if I can net 10 per day over the long haul on average.

cordially Tom
 
Status
Not open for further replies.
Back
Top