The ER2 Trading Journal

Quote from trade_4_living:

As far as ER2 goes, the intraday Pesavento forecast has been right on the money (I thought Larry Pesavento is a trader works for some fund, I read some of his trading books several years ago.) The ER2 map is based on thousands of fib retracements/extensions and time consideration of ER2 itself, not astrology:

I shorted right at the open at 659 based on the map. :D

The afternoon direction movement was almost identical :D

See attched file for the day. The white line is Pesavento map.
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http://shop.store.yahoo.com/stockcharts/ascybylape.html
 
Well, I guess none wants to share. Way to go.

Quote from trade_4_living:

I pay very close attention to the trading channels. If two bars break the trading channel, I would consider to change my position or take a new positon. Would some of you want to share how you trade ER2? What are you looking for TA wise? How do you trade? How often do you trade in a day?
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Quote from trade_4_living:

Well, I guess none wants to share. Way to go.
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trading 4 living,

thx for sharing .. i think your methodology will do well as you are not tied to one indicator or it a strict system box.. probably better than a pure system...

In my case, i have been working on a system for the longest time but have been trading a semi-system/semi-discretionary -- some what similar to you but with less indicators..and even more flexibility.. i also pay attention to its correlation with ES. Another thing, my time-frame is a bit longer than you. Sometimes I might be in a position for a week or so.

Good trading!
 
this rally may have legs given that er2 dropped 20 points in a dash and took out a lot of weak hands..
667 might pose some major resistance though
 
Fridays have been good to the market lately and also next week likely be slow and also should be good for the market just before thanksgiving...and then rally the Monday after thanksgiving(happens more often than not)..

why do I keep posting here...this is someone else's journal...sorry.
 
You're right on that prediction. 20 points back was coming very quickly. I thought some big $$$ funds accumulated many contracts yesterday and the day before on the way down, I don't know if you've noticed these 300 contract bids. I believe it was one of the reasons ER2 was lagging behind others. Now these guys now loaded and weak hands shaked out, time to push it, squeeze the shorts, and unload it on the way up.




Quote from lynx2004:

this rally may have legs given that er2 dropped 20 points in a dash and took out a lot of weak hands..
667 might pose some major resistance though
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I saw ER2 close right at a resistance line made drawing from last two tops over the past 3 months. ES went right through it but ER2 closed pretty much at it. Hmmmm will ER2 follow or is it gonna bounce off again..
 
As long as it works for you, stick with it. No need to change them.

I found some indicators are working well for trending days (MA derivative, ADX, MACD, MAs), and some indicators (Stoch, CCI, RSI) are working well for choppy days. So I use a mix of them or use different settings to fit the market.

I first determine if the market is overought or oversold in different timeframes. Then I look if market is trending or not. If the market is overbought or oversold, but it is trending, then stay away from the oscillators. Osillators really don't work well. The market can remain overbought or oversold for hours in trending days.





Quote from lynx2004:

trading 4 living,

thx for sharing .. i think your methodology will do well as you are not tied to one indicator or it a strict system box.. probably better than a pure system...

In my case, i have been working on a system for the longest time but have been trading a semi-system/semi-discretionary -- some what similar to you but with less indicators..and even more flexibility.. i also pay attention to its correlation with ES. Another thing, my time-frame is a bit longer than you. Sometimes I might be in a position for a week or so.

Good trading!
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Well, I think only a few are reading this journal. Only two or three regular posters. Please feel free to post whatever you want, opinions, suggestions, etc...

The purpose I set this journal is to learn/share tips and tricks from different ER2 traders, so we all can benefit and be very profitable.


Quote from lynx2004:

Fridays have been good to the market lately and also next week likely be slow and also should be good for the market just before thanksgiving...and then rally the Monday after thanksgiving(happens more often than not)..

why do I keep posting here...this is someone else's journal...sorry.
More...
 
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