S/R Emini Journal

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can anyone tell me why the mechanical systems always fail as market changes.......i would really like to hear how the price action changes...thus....the market changes.....what can it do? start going behind my monitor so i can't see it? ....this is meant for my education only, not meant to harrass mr. new swimming pool guy.......my son-in-law builds homes and also has a pool company.....dovetails ........4re....if u stick with ur system and it works, then u have it........the problem down the road is if you expand the trading..and trade more stuff...opens the door for more little ouch trades then the emotional factor gets bigger...better to do the cookie cutter same thing forever and up the contracts...is there an echo in here? happy trading :p
 
4re,

1 question please. Before I continue, I have to say my chart's figures are slightly off from yours, but I still see something that I will appreciate your clarification on. Thks.

From your levels, it seems that you do not subtract/add the same fixed amount from support/resistance. For example, from the long, it looks like your entry point for long is 0.5 point above resistance while your short entry point is 1 point below support. Can you pls explain the rationale for it or is it my charts suck or me just being blind. Thanks.

PS :Hope you and your family enjoy the pool when it is finished
PPS: Will be rooting for your son in his trading. When they are young, they have less fear, so I suspect he will get over the live trading soon. Best time to train them up I believe


Quote from 4re:

Hey Hey Everybody,
I hope ya'll all had a nice weekend. I have had company all weekend breaking in our new pool. Pool is finished but no landscaping yet. It looks like a dessert oasis with nothing but dirt around it. Anyway here are my numbers for Monday.

Long 1314.75 - 1318.75

Short 1302 - 1294

I will be around for the morning session tomorrow. It better be a good one. I have a lot of making up to do. But if no action there will be no trade taken.

Have a good trading day,
Gary
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Quote from 5Pillars:

SG66 - If you want to learn the most rock solid s/r levels to trade your signals from each day then learn Market Profile............

Sample MP chart............

http://www.charthub.com/images/2006/09/09/MP.png


:)
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Greetings,

Can you point me in a direction to learn market profile,and how to understand that chart?I see nothing in the chart that points to anything I can interpret.Any pointer s would be appreciated.

cordially Tom
 
4re

do u c how monaco only came in to attack and left? those kind lurk and hope for freebie...when it doesn't happen they attack and leave frustrated. this is 3 yr observation....then there are guys like tq who don't lurk, don't help, and don't leave.... :cool: :cool: :cool: :cool: :cool: :cool: :cool: :cool:
 
Quote from tradequicker:

can anyone tell me why the mechanical systems always fail as market changes.......
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I guess you never read, or understood, the posted article.
 
Quote from billp:

4re,

1 question please. Before I continue, I have to say my chart's figures are slightly off from yours, but I still see something that I will appreciate your clarification on. Thks.

From your levels, it seems that you do not subtract/add the same fixed amount from support/resistance. For example, from the long, it looks like your entry point for long is 0.5 point above resistance while your short entry point is 1 point below support. Can you pls explain the rationale for it or is it my charts suck or me just being blind. Thanks.

PS :Hope you and your family enjoy the pool when it is finished
PPS: Will be rooting for your son in his trading. When they are young, they have less fear, so I suspect he will get over the live trading soon. Best time to train them up I believe
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Bill,
Thank you, actually the short is .75 under support which was done on accident. I do usually use .50. I will go ahead and keep it they it is for today though but if you or anybody else want to change it feel free to do so. This happens to be an 8 point channel so I feel it will just give us a little extra wiggle room.
 
Quote from tradequicker:

4re

do u c how monaco only came in to attack and left? those kind lurk and hope for freebie...when it doesn't happen they attack and leave frustrated. this is 3 yr observation....then there are guys like tq who don't lurk, don't help, and don't leave.... :cool: :cool: :cool: :cool: :cool: :cool: :cool: :cool:
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Why are you challenging him to come back and attack you with messages like this one. If you'll ignore it and go about your business they will most likely stay out of your way.
 
Quote from Thom64:

Greetings,

Can you point me in a direction to learn market profile,and how to understand that chart?I see nothing in the chart that points to anything I can interpret.Any pointer s would be appreciated.

cordially Tom
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Tom,


I think there may still be a free MP introductory course here for any one that at least registers..... www.ioamt.com .

There is also free MP info at the CBOT website............

http://www.cbot.com/cbot/pub/page/0,3181,1184,00.html


This should get you going in the right direction. :)
 
Quote from Thom64:

Greetings,

Can you point me in a direction to learn market profile,and how to understand that chart?I see nothing in the chart that points to anything I can interpret.Any pointer s would be appreciated.

cordially Tom
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Hey Tom,

You may want to visit www.chart-ex.com
Volume at price is another way to interpret S/R levels. The charts are free and updated each evening.

Also, check out the this excellent Market Profile thread by bolter:
http://elitetrader.com/vb/showthread.php?s=&threadid=63202

Hope this helps!

MiniDowTrader
 
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