Bill - Thanks for the phone conversation and detailed explanation of what's going on in these posted charts.
Sandy
Sandy
The 3-2-1 Approach: A Simplified Method for Trading Any Market
- Thread starter bthomas
- Start date
6/17 Market Commentary
I was done early, as noted in my post on page 39, thanks to the news day trade. Unfortunately, there is no news of note on Wednesday.
Here are Charles Cochran's comments on the 6/17 trading, and some prepatory comments for 6/18.
F2 Comments: The market is in a bracket w/a lower bias. The market managed to get stops above the recent highs, but not the recent lows. Late selling in the ES supported the Bond. If the ES continues to sell OVN, I would expect the Bond will be higher. No news to drive the trading tomorrow. Expect another range bound day w/the focus on the direction of the ES. If the ES is sideways to higher, want to sell into early strength. And will cover, if 111-20/24 holds. If ES breaks below 1350 in OVN session, will look at the long side of the market. First sell zone is 112-15/19. Back up sell is 112-27/31. OK to get long, if 111-24/28 holds. Exit, if 112-20/24 is rejected.
I was done early, as noted in my post on page 39, thanks to the news day trade. Unfortunately, there is no news of note on Wednesday.
Here are Charles Cochran's comments on the 6/17 trading, and some prepatory comments for 6/18.
F2 Comments: The market is in a bracket w/a lower bias. The market managed to get stops above the recent highs, but not the recent lows. Late selling in the ES supported the Bond. If the ES continues to sell OVN, I would expect the Bond will be higher. No news to drive the trading tomorrow. Expect another range bound day w/the focus on the direction of the ES. If the ES is sideways to higher, want to sell into early strength. And will cover, if 111-20/24 holds. If ES breaks below 1350 in OVN session, will look at the long side of the market. First sell zone is 112-15/19. Back up sell is 112-27/31. OK to get long, if 111-24/28 holds. Exit, if 112-20/24 is rejected.
How You Can Be Wrong And Still Be Right
In a hedge market, like the Bonds, high and low volume areas are both support and resistance, and should be traded as such. The early call was to short 112.15/19. When 112.175 was hit at 8:33 EST it retraced to 112.11, or 6/32nds tradeable. When price moved up to 112.20 at 8:54 EST, it retraced to 112.13 or 6 1/2 tradeable ticks.
Though the market then traded up for the rest of the day, you could have made your business plan of 4 to 6 ticks early. Following are Charles Cochran's comments
F4 Comments: Todayâs market was a tough trade. The ES was pointed lower. No news to drive the trading. Previous dayâs analysis favored a quick short, w/a reverse, if support isnât taken out. The recommended sell zone was 112-15/19. The high was 112-20 and the low was 112-11. The rest of the day was all buying as the market slowly traded higher. Todayâs activity showed the power of the levels. Get the levels right and you can even make money selling in an up market.
In a hedge market, like the Bonds, high and low volume areas are both support and resistance, and should be traded as such. The early call was to short 112.15/19. When 112.175 was hit at 8:33 EST it retraced to 112.11, or 6/32nds tradeable. When price moved up to 112.20 at 8:54 EST, it retraced to 112.13 or 6 1/2 tradeable ticks.
Though the market then traded up for the rest of the day, you could have made your business plan of 4 to 6 ticks early. Following are Charles Cochran's comments
F4 Comments: Todayâs market was a tough trade. The ES was pointed lower. No news to drive the trading. Previous dayâs analysis favored a quick short, w/a reverse, if support isnât taken out. The recommended sell zone was 112-15/19. The high was 112-20 and the low was 112-11. The rest of the day was all buying as the market slowly traded higher. Todayâs activity showed the power of the levels. Get the levels right and you can even make money selling in an up market.
Market Profile Recap of 6/18
Here is a Market Profile look at 6/18 and an early heads-up for Thursday 6/19.
F2 Comments: The market was dead until D period when the last 4 dayâs buying/lack of selling kicked in and eventually took the market to 113-095. The structure and profile doesnât lie. The skewing bias to the upside slowly turn the dayâs action to buying and when the market broke out at 112-20 it was higher for the rest of the day. The close was strong. The analysis favors higher prices w/out news. Jobless Claims is on tap for tomorrow and is expected to show 370K applied for unemployment. The only thing I can see that could dampen the buying tomorrow is Options Expiration. Options expiration can whip the market around the last two days of trading. That said, want to buy early weakness and see if 113-12/20 can be taken out. If 113-12/20 is rejected, will look to the short side of the market. 1st buy is 112-29/113-01. Back up buy is 112-21/25.
Here is a Market Profile look at 6/18 and an early heads-up for Thursday 6/19.
F2 Comments: The market was dead until D period when the last 4 dayâs buying/lack of selling kicked in and eventually took the market to 113-095. The structure and profile doesnât lie. The skewing bias to the upside slowly turn the dayâs action to buying and when the market broke out at 112-20 it was higher for the rest of the day. The close was strong. The analysis favors higher prices w/out news. Jobless Claims is on tap for tomorrow and is expected to show 370K applied for unemployment. The only thing I can see that could dampen the buying tomorrow is Options Expiration. Options expiration can whip the market around the last two days of trading. That said, want to buy early weakness and see if 113-12/20 can be taken out. If 113-12/20 is rejected, will look to the short side of the market. 1st buy is 112-29/113-01. Back up buy is 112-21/25.
then someone is not telling the truth,
what one of my reported back was they could not get an "ala carte" pricing choice and Josh Kelne refused to offer the software in segments, as you described....
perhaps the conclusion why many traders have stayed in the room is they have no pricing choice on the matter and not willing to admit its too expensive to continue, and not making as much as they thought they would, some five, six, seven months into paying the $500 monthly
Entering The Day With An Idea
As I have previously posted, it is very important to enter the day with an idea for your early trading. Following is Charles Cochran's idea going into Thursday, 6/19.
[6:54] Charles Cochran: Yesterdayâs buying may have been satisfied in the OVN session. Sometimes the previous dayâs market activity is completed OVN. This may be the case for today. Might have a shot at the back up buy level. Bond rallied into the EU/UKâs arrival and has been sold ever since. The ES is on its OVN highs and behind the selling in the ZB. Some news to handle this morning: Jobless Claims at 370K, LEI at 0.0% and Philly Fed at -12.0. Focus should be Jobless Claims and Philly Fed. Will work the buy side from 112-21/25 first. Should have one bounce off of yesterdayâs structure. Near resistance is 112-30/113-04 followed by 113-07/08. Failure to take out 113-00/04 should signal a retest of 112-24+/-. A cautious buyer one time off the opening w/the idea that 112-20/24 will hold up one time. And OK to sell failure at 112-20/113-00 too.
As I have previously posted, it is very important to enter the day with an idea for your early trading. Following is Charles Cochran's idea going into Thursday, 6/19.
[6:54] Charles Cochran: Yesterdayâs buying may have been satisfied in the OVN session. Sometimes the previous dayâs market activity is completed OVN. This may be the case for today. Might have a shot at the back up buy level. Bond rallied into the EU/UKâs arrival and has been sold ever since. The ES is on its OVN highs and behind the selling in the ZB. Some news to handle this morning: Jobless Claims at 370K, LEI at 0.0% and Philly Fed at -12.0. Focus should be Jobless Claims and Philly Fed. Will work the buy side from 112-21/25 first. Should have one bounce off of yesterdayâs structure. Near resistance is 112-30/113-04 followed by 113-07/08. Failure to take out 113-00/04 should signal a retest of 112-24+/-. A cautious buyer one time off the opening w/the idea that 112-20/24 will hold up one time. And OK to sell failure at 112-20/113-00 too.
hope you're ready to give a number of traders, room participants and others refunds,
because those were not the prices that they reported being charged and they paid.
hmmmm,,
good thing there are these public forums, to aire things out...
can you say: "over charged"? (and that's being kind...in wording)
$499 for the TIE software and access to Traders Room is the rate published and the rate charged.
You most certainly can purchase the software and/or the Traders Room individually if you prefer.
The TIE software is $349 (including eSignal data). In a previous post I quoted a rate of $249 for the TIE software with no reference to data. You can get the TIE software with a Patsystems data feed for $249, however, the data is throttled by Patsystems and may not trully represent the market at extremely busy times (like the release of economic data). I recommend a non-throttled feed.
I'd have to check, however, I think that most Traders in the room pay $499 per month for the Room and the software (including eSignal data).
If I somehow created confusion for you I apologize.
Thanks,
In addition to paying for the software and/or the room, does one have to open a trading account with Trademaven, or is the room/software something completely separate?