S/R Emini Journal

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Thanks princessa. It looks like we are among the few people that started with options first and decide to move to stocks or do more stocks. I have to say I feel uncomfortable shorting stocks or holding stocks overnight though as compared to options due to 'much higher potential risk $'.


Quote from princessa:

yes, i too did more options in the past than i do now, due to pitfalls. i place directional bets, and i know that high volatility makes the option more exxpensive, so on some stocks i would never end up buying the option b/c the premium is too high. i mainly concentrate on stocks now, but i still do options occasionally if i see a good setup.

the way i have done options is to look for bottoming on a stock i know really well or go with momentum for a quick trade. both strategies have worked well, but only when i know the stock really well. it's when i don't know the stock all that well that the trade usually doesn't work out, or if i go bottom-fishing and i'm early. then i take my lumps and go home.

all in all, i'm better off sticking with stocks.
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Quote from rverheyen:

Tnx for the info. It seems there are still some discretionary things in your trading. Experience is the key here I guess.
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Since I have a trade going on with the Q's right now it only makes sense that I watch it also. Sometimes you just notice patterns that both are forming. Don't think it is decretionary but yes, experience is key. Also why every trader has to manage their own trade.
 
Quote from 4re:

Since I have a trade going on with the Q's right now it only makes sense that I watch it also. Sometimes you just notice patterns that both are forming. Don't think it is decretionary but yes, experience is key. Also why every trader has to manage their own trade.
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After thinking about this a little bit you can call this decretionary. Anybody who thinks that they can just use one technique to enter and exit their trades are going to lose this game. A trader is going to have to learn and use many tools in order to win at trading.

Tools that I have and use at my descretion:
S/R
Bollinger Bands
Other Markets
Chart patterns
Trendlines
Volume
News

Just to name a few but these are my most common tools

Every once in a while I'll use use EMA or even a linear regression line.

You would probably have to go through all 990? pages of this journal to find where I have mentioned each and every one of these and I doubt if anybody is going to do that.


Hope this helps,
Gary
 
Quote from 4re:

You would probably have to go through all 990? pages of this journal to find where I have mentioned each and every one of these and I doubt if anybody is going to do that.
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Call me crazy, but I did.

Real fast, so I probably missed most valuable info. But the first 600 pages where more easy to read as they stayed on topic more. The last week more chitchat and name calling, but that had to be expected with a successfull thread like this.

Looking forward to another live demo session with other setups! Maybe an other trader is willing to share his method? You are an example for all of us Gary!

For now I'm only playing the breakout strategies with the ES. I'm going to try it at the DAX also. The other "big" futures are much alike so I'm not going to trade and ES and YM, NQ, ER2.
 
Quote from rverheyen:

Call me crazy, but I did.

Real fast, so I probably missed most valuable info. But the first 600 pages where more easy to read as they stayed on topic more. The last week more chitchat and name calling, but that had to be expected with a successfull thread like this.

Looking forward to another live demo session with other setups! Maybe an other trader is willing to share his method? You are an example for all of us Gary!

For now I'm only playing the breakout strategies with the ES. I'm going to try it at the DAX also. The other "big" futures are much alike so I'm not going to trade and ES and YM, NQ, ER2.
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Thank you,
Now all those tools that I mentioned are just that. Tools to help me decide while in a trade or right before whether I am going to get my 2 points or whether I settle for less.

My typical trade probably 90% I just sit and wait for my S/R numbers to hit take it and either win or lose.
 
For the S/R weekend crew (darn hard core bunch here)....one other market profile method that I have never talked about here is to draw "horizontal" lines at the high tick and low tick of the first hour of trading (08:30 to 09:30 "initial balance"). I know a successful trader that takes trade signals as price trades at these drawn horizontal lines...........he looks for LONG trades with volume increasing above the upper "initial balance" tick, and SHORT trades below the lowest "initial balance" tick level.

Price has a tendency to leave the "initial balance" area with some momentum......watch for it and you can catch some good moves.
 
Quote from 5Pillars:

For the S/R weekend crew (darn hard core bunch here)....one other market profile method that I have never talked about here is to draw "horizontal" lines at the high tick and low tick of the first hour of trading (08:30 to 09:30 "initial balance"). I know a successful trader that takes trade signals as price trades at these drawn horizontal lines...........he looks for LONG trades with volume increasing above the upper "initial balance" tick, and SHORT trades below the lowest "initial balance" tick level.

Price has a tendency to leave the "initial balance" area with some momentum......watch for it and you can catch some good moves.
More...

I have read about this also. Never traded it but I could see on a range day how it would work.
 
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