S/R Emini Journal

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Quote from romik:

I don't think there is definite way of knowing, though prime S and R levels together with aggressive momentum acceleration would indicate stops triggered and being closed. The earlier question about "over inflated balloon" is my way of knowing that it is going to pop and it always does, difference being that sometimes there is a hell of a bang - nice S/R been hit ie. stops triggered and closed and other times it kinda sneakily pops on you like a condom, without you knowing it, where exit monitoring is a task and a half, that's what happened to me on my last trade on Friday. Though, the Big Bang theory still worked, it certainly popped, I just didn't have the bottle to believe that it would.
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I knew you had something in mind when you posed that question, that is why I bit on it. And yes I agree with you. We have been trading this way on the ES long enough to have been on the right side of those pops quite a few times haven't we.

On another note: Today I was watching the end of the PGA tournament. Tiger was up by 5 or 6 over everybody. At the 17th he got a bogey. You could tell that eventhough nobody had a chance of beating him he was still upset with that bogey. Now he composed himself before teeing off on the 18th and played it perfectly and won. As expected. Now that made me start thinking about the emotion and trading thing we have discussed. I think it is alright to be mad or upset after a losing trade as long as you are able to compose yourself before the next trade. If not don't trade. Maybe one day I'll be able to trade like Tiger plays golf. He doesn't win them all but he wins enough for people to remember him that is for sure. Just something to think about and strive for.
 
Quote from romik:

I don't think there is definite way of knowing, though prime S and R levels together with aggressive momentum acceleration would indicate stops triggered and being closed. The earlier question about "over inflated balloon" is my way of knowing that it is going to pop and it always does, difference being that sometimes there is a hell of a bang - nice S/R been hit ie. stops triggered and closed and other times it kinda sneakily pops on you like a condom, without you knowing it, where exit monitoring is a task and a half, that's what happened to me on my last trade on Friday. Though, the Big Bang theory still worked, it certainly popped, I just didn't have the bottle to believe that it would.
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Quote from Thom64:

Greetings,

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


cordially Tom
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What do you mean by this? If you are commenting on the fact that all I have on my charts are my S/R lines and that is it. That is not entirely correct. On my prophet charts there is a hide studies button on there. I turn them off so that I can have a clean chart t show. When I turn everything on I have bollinger bands, 100 EMA and 200 EMA. That is all I have. The chart I trade with just has bollinger bands and that is it. I have trouble identifying chart patterns in real time if I have anything else on my charts. You ought to try it, for me it is like cleaning a window that was covered with mud...Maybe a little dramatic but that is how it felt to me.
 
Quote from tt1452:

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
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TT1452

You can check in QT- different chart types.Choose range chart ,choose period 1 day+10/20 bar,range 5=10 depending upon your stop loss pain threshhold,play with colors as you like,keep only HMA 15-17 & ema 34 (remove even LSMA).I use woodie chop indicator too.why dont you post your chart set up? I can comment or learn from you! You can see if you have a fast finger,you can scalp 5Ym pts every 2-3 bars whether it is going up/down /long /short!
Best to aim for +20 with a 12-13 stop loss watching the trend.
Sometimes QT may not be fast enough in small time frames.I will watch no's in IB quote window& chart colors/shape in QT charts.Most of the times I will hide all MA indicators & watch bar tails with cci only.before making a decision,I will check HMA/EMA & press the button.
goodluck
 
Quote from 4re:

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.
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4re
Options were screwed up yesterday as the big players wanted to close the index where they wanted for expiring Aug options depending upon their books.
We are minnows looking for a scrap.
In fact I specialise (in loosing !?) in expiring options.The last option week (add previous week thursday+Friday) is the most important trading week for the month for me.
I work like a squirrel every day,gather (nuts) few dollars here & there & bet all during the option week.1:5/more or loose it all.I have studied option expiring weeks in detail for the last 10-15 months.(both daily/60 min charts)
All plays are in OTM/ATM expiring options not futures. some months I hit big ,some times I loose.BUT exciting.
I have a consipiracy theory that big traders keep side bets (options)in private a/c (in anonymous tax haven a/c) & use Employer (read Top5 big wall street brokers) money to move the index where they want to put some extra goodies in thier christmas stockings!!!!:D
 
Quote from 4re:

What do you mean by this? If you are commenting on the fact that all I have on my charts are my S/R lines and that is it. That is not entirely correct. On my prophet charts there is a hide studies button on there. I turn them off so that I can have a clean chart t show. When I turn everything on I have bollinger bands, 100 EMA and 200 EMA. That is all I have. The chart I trade with just has bollinger bands and that is it. I have trouble identifying chart patterns in real time if I have anything else on my charts. You ought to try it, for me it is like cleaning a window that was covered with mud...Maybe a little dramatic but that is how it felt to me.
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Greetings,

I was referring to krishyer's chart set up,by cleaner,I just liked the way it looked.Have never used the range style.Hope it wasn't taken in a negative way.

cordially Tom
 
Let's get ready to make some money. It has been said that the market can drop 3 times faster than it goes up. That would mean my 39 and 37 puts will be making me happy this week.
 
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