Trading the Pivots

Quote from JimmyJam:

Long at 1281.50

Click!

P.S. See how the setup works?
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Stop Hit, Position Reversed.

Short @ 1279.00

I anticipated, but the CCI Histogram never went green.

See as how the trend is now DOWN, the system allows me to reverse and go Short.

If this blows, I'm done for the day.

edit: Once the Open is crossed, I'll take 4 pts instead of 2. The price action may trade to the median pivot (1272).
 

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I need to give those R2's and S2's a little more credit.

I haven't back tested, but some of my best trades have been to simply sell/buy the R2/S2 using a 4 point stop and exiting at eod or trail 2 ticks above/below the 30 minute bar.
 
Quote from JimmyJam:

Stop Hit, Position Reversed.

Short @ 1279.00

....

edit: Once the Open is crossed, I'll take 4 pts instead of 2. The price action may trade to the median pivot (1272).
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Previous Support Broke, moving Protective Stop to 1276.75, holding until it is hit or MOC.
 

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Quote from DonKee:

I need to give those R2's and S2's a little more credit.

I haven't back tested, but some of my best trades have been to simply sell/buy the R2/S2 using a 4 point stop and exiting at eod or trail 2 ticks above/below the 30 minute bar.
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Yeah, you're absolutely right.

I didn't really think it had the power to turn the market back either.
***
So, to review.

Point 1 3 trades and up 2 pts, that's a lot of extra work for the same result as I had this morning.

Point 2 But that's what happens to every single trader when they get "cocky" and don't adhere strictly to their signals ... point taken.

OK, market may hold or continue to drop, but I'm done for today.

Thanks everyone.

Jimmy
 
Quote from Cazza La Randa:

Shorted ES @1281.25 stop 1285.75
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Quote from Cazza La Randa:



My target should be 1274.25/50

will see if this is a common gap...or breakaway
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Bingo, Gap filled

Covered @ 1272.50, for a gain of 9 points... per contracts

Nice day....
 
Quote from DonKee:

I need to give those R2's and S2's a little more credit.

I haven't back tested, but some of my best trades have been to simply sell/buy the R2/S2 using a 4 point stop and exiting at eod or trail 2 ticks above/below the 30 minute bar.
More...

Using the above stratgey would have resulted in at least a 9 point day. Oh well, we seem to hit the R2/S2 level about once per week.

There's always another trade coming round the corner. lol
 
Hey JJ,
I didn't get around and browse through ET this weekend so I didn't know you started your journal. I hope it goes well. Looks like you already have some pivot players in here with you. I'll be checking it out but don't be a stranger.

Good Luck,
Gary
 
Quote from JimmyJam:

If you pull-up your charts, with the:

DMA 28/14,
CCI Histogram, and
Stochastic Momentum Indicator

You'll see that the trend is Up as I would define it using these indicators ... and just to impart my (small) experience to you ... I never trade against the trend (anymore), because to me it's like putting my small acount in front of a train and waiting for it to stop, with the expectd results.

However, the market could retrace, which would then give us another Buying opportunity.

Why?

Because 1st Resistance was hit a second time.

Best,

JJ
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What indicaotr is the little read and green square dots above the time on your charts?
 
Quote from 4re:

Hey JJ,
I didn't get around and browse through ET this weekend so I didn't know you started your journal. I hope it goes well. Looks like you already have some pivot players in here with you. I'll be checking it out but don't be a stranger.

Good Luck,
Gary
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Hi Gary,

It's very challenging.

Now I have a lot more respect for you and what it takes to run your thread, manage your other investments, and oversee your business!!!! :eek:

Taking care of things around the apartment, getting ready for work, keeping my eye on my own proprietary system and trying to put together a smooth, generic trading system with a positive expectancy and the rules which anyone can trade by is not as easy as it looks.

Believe me, in this case, doing is believing!

Thanks for stopping by, I am fortunate to have some really experienced guys (uh, I'm just assuming :p) on the thread, today's half-run/stumble out-the-gate has given me several ideas for re-tooling and making some modifications in the setups, as well as uploading a number of spreadsheets which will assist traders in managing their trades.

Best,

Jimmy
 
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