The Surf Report
- Thread starter marketsurfer
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Quote from marketsurfer:
we are ending the day FLAT in the index. the channel levels are still intact, and we will continue to trade off of them untill proven otherwise. hope to see some of you in NYC this evening !
best,
surfer
Did you make it to the screening of "Master and Commander"?
It was great.
after making several entry attempts at the lower channel figure short, we ended the day SHORT--holding into friday open from 9653 djia.
unfortunately, the severe weather last night kept me from attending. i am planning on seeing it this weekend . happy to hear it was good.
best,
surfer
Surf! Would you believe it? I fired short ES at 45 (13:36 - Major floor pivot hit, consecutive lower lows & lower highs, average daily range attained) and covered basically MOC at 32 (16:10), also sold YM short on smaller size long before that at 716 (13:02 - Quite low risk trade - Hitting of upper channel on the indexes while average daily range already attained), but covered at lot earlier, at 631, for only 85 instead of the over 100 that were in that move...Quote from marketsurfer:
after making several entry attempts at the lower channel figure short, we ended the day SHORT--holding into friday open from 9653 djia.
Otherwise, I didn't trust the up-move all day. I just thought : What goes up (fast) must come down (fast). After all, we were in a clear downtrend on the larger TF's. I decided not to close out unless the downtrend is clearly broken, and it sure took me a lot of sitting on my hands (!) not to take all my profits. Looking at the day retrospectively, I am very happy I had the discipline. I'm still in awe about the two huge moves, though. You just never know what can be ahead of you.
Sold at top, bought at bottom. These kind of things are just what makes it worth living for as a trader.
I like your position trading ventures, surf, yet have never had the guts to trade futures overnight. I would probably agree with you on going YM short today, though...
Good Fortunes,
Scientist
nice trading, science !
surfer
surfer
Quote from LongShot:
what ?? you were closed out? huh?? now your short again? whaaaaaaaaaa??? LOL?
yes, that is what happens. the system is designed to catch the big moves and will take losses when the moves are brewing.
surfer
Good job man! I think the 1045 was a pretty obvious short. The Doji at 13:00 on the 60 min. chart should have been a good "heads-up" to get a short order ready. Another weak sign to me was the up-move on declining volume. A very low-risk trade IMO. Your entry was just good, but your exit was DAMN GOOD!Quote from Scientist:
Surf! Would you believe it? I fired short ES at 45 (13:36 - Major floor pivot hit, consecutive lower lows & lower highs, average daily range attained) and covered basically MOC at 32 (16:10), also sold YM short on smaller size long before that at 716 (13:02 - Quite low risk trade - Hitting of upper channel on the indexes while average daily range already attained), but covered at lot earlier, at 631, for only 85 instead of the over 100 that were in that move...
Good Fortunes,
Scientist
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