Ronin

9:30am SOLD - ZBH8, 116-02 ( Prev Low ) STOP 116-07( Swing High) Risk 5 Tics ( $156.25) Exit Target Filled: 115-18 , 16 Tics GAIN = $ 500 Trade Setup: Bullish Pice action in Equities and Overbought 60min Stoch. New Balance: $12,274 , 513% GAIN on Initial Starting Bal. :applaud: Not bad for a poor guy like me, :beer:

4pm - Long 1474 ESH8 2am - Exit Target Filled: 1483 + 9 Pts GAIN, New Bal: $11,774 Trade Setup : NR 9 and Inside Day with CLosed near High RSI(2) = 70 Rising and Vol. Osc: + 3% Rising after cross UP of 20% BUY Signal

11:51am- Limit Buy ZBH8 at 116-25 ( Trade #5, don't have time to post all trades) Filled Long 116-25 Traget 117-00 Filled , + 7 Tics GAIN= $218.75 New Bal: $11,324 Observations: Bid / Ask Trading Pad 11:51am 5 - 1 1 - 201 ( Clue that Long Trade was going to work) 6 - 25 12 - 1 2 - 4 12 - 22 24 - 29 8 - 25 Goes UP 5 Ticks: Volume +3K Here is the Trade:

WATCH that 1461 Support

Go Long Jack !

7:56am Limit BUY 1461 Filled Long 1461 Target: Prev Close 8:30am Target getting close 8:45am Target Filled: +5.5 Pts GAIN New Balance: $ 11,105.25 455% GAIN on Intitial Balance

You wrote a while back: Here are are a couple of charts of the DAX that I have wanted to post for a while. There is a 3 minute and a 10 minute to give a couple of perspectives of the action. One of the two remaining questions I find I ask myself asking frequently is "was that enough volume to stop the move (rather than just pause it)". The charts show the last two legs of a down move. To me they look very similar. You have a down move with high volume and then a test of that area over two bars (point 1) on diminished volume. The only small clue is at point 2. Apart from that one bar before the final drop I would say the first 'bottom' looked weakest to me! I'd really welcome comments as it seems the differences between the two are really subtle. Of course if we could read supply and demand with crystal clarity on every occasion then we would never have losing trades. I believe this is impossible so it is probably safe to say that it is not possible to read supply and demand with crystal clarity on every occasion!! This is going to be more helpful than explaining my ES chart: Remember that VSA is not everything to go with, you must see what price failed to do or what is expected to do in the next bar within the context. Do not rely on the 3min, it will drive you crazy and more confuse. Stick with the 10mins and use the 5min for accuracy of Entry.Precision and Timing is everything.

I guess I am a terrible cynic but I think the reason anyone does anything is essentially selfish. There is nothing wrong with being selfish imo. Put another way people do things for others because it makes them feel good. Or as has been said they hope to learn something through the exchange (self interest). Or they just want to 'show off' (look at me aren't I clever). I think even when we do things for our children or loved ones it is because when they feel good we feel good (so a selfish action even if for another). Even when we do things out of a sense of responsibility or guilt it is to assuage feelings within ourselves. btw Isn't a speculator simply someone that assumes risk for a potential reward. Not quite sure how that fits in (yet). Personally I always wanted to be hugely succesful at trading (10's or even 100's of millions). Apart from satisfying my Ego I'd really like to make a big difference in the world (money affords that opportunity). The reason? to make me feel good. (Who wouldn't feel good about improving society?) Personally I see no conflict between altruism and selfishness. I think I know where you're coming from, Cheers, Nick

What is your trading method? need to know your trading background before further discussing my technique. Notice you don't have a Profile or Trader Specs either. By the way, the GLobex Level, has no relevance to my trading technique. Trivial question, lol Waiting for your complete Profile.

Out early at 1462.25 + 4.25 Pts Gain Out Flat New Bal : $ 10,830.25

10:45 Long 1458 Limit Filled - Old habits never die, picking the Low bounce Trade Setup: MACD Divergence, 1min SP and Volume Osc at extreme oversold value Target : 1464

Would have to look at the chart and explain the sequence of price action. Now getting ready to trade the ES and don't have much time.Will look at it after close.

8:30am - Limit BUY ZBH8 114-15 8:35am - FILLED , Long 114-15 STOP 114-11 Risk 4 Tics or $125 Trade Setup: Pivot was 114-15 RSI ( 5 ) = 42 and rising Target 114-29 Filled +14 Tics GAIN New Balance: $ 10,617.75 Out Flat

Targets are usually the Swing Pivots or reactions to Key Intraday Levels. The timing requirements after Entry is a safety factor to minimize Loss and make a decison to Exit or not to exit the trade. In counter-trend trades time is of the essence and 15mins was establish after many years of practicing and looking at the behavior price action of the ES and the SP.Other factors beside time comes into the decision, one of them being the testing or NOT of certain levels for a good judgment of price continuation in the direction of the Trade.

The aproach is based on the Candle Patterns combined with price action in relation to S/R Levels withing the 5min and 10min Time Frames. The Setup starts by looking at what the reaction is to the S/R Level and then if Long Entry is chosen at a Low Risk level where the Stop Loss would be minimun.Accurate Entry is very important for Low Risk STOP Loss selection. You start with the premise that if your STOP Loss is too far away because of volatitily argument then your Entry is not going to be accurate enough, and if your Entry Long or Short is not accurate then your risk of been Stoped Out is very high which translate into high stress and loss profits and defeating the whole purpose of trading.To give you a good example, look at the Entry Long of the well known market Analyst in parenthesis. His analysis was compelling convincing but his Entry and stop selection was very slopy and inacurate ( Long 1482.50, STOP 1457 , wuao !, resulting in 25.5 Pts Loss) In that particular example in the Chart posted, the Entry was chosen by calculating the Retracement from the Swing High, taking into account the fact that the Key Resistance Level at 1471.75 was penetrated strongly, then it was assumed that it would continue to go UP to test the next most logical Higher Level.Notice how the Low of the Entry Bar tested exactly the 10 MA. The Target is chosen depending on the Bias of the NQ and the Internals. Today it was highly risky to go Long, therefore Targets to Exit had to be chosen wisely because there was more willing Sellers than Buyers. Also the price action after Entry, determines if the Long Open position will be exited at less than Target or break even. Odviously if there is no follow through when Long then, the decision has to be made in a timely manner within strict guidelines and with strict disipline.

Will be willing to answer any specific questions in that regard. Price action is second nature to me after so many years so it is better to explain the methodology by answering any question you may have.

One of many trades done in the Traders Room: (Feel sorry for Carl Futia, his Stop Loss got hit on his Long Pos for a -25.5 Pts Loss ) This Trade: Long 1471.50 at 10:45am,

Five trades done during day session ESH8 in Chat Room: Total + 17.25 Pts GAIN New Balance: $10,180.25 Out Flat

9:34am SELL STOP 1472 Filled SOLD Exit Filled 1469.50 -Reason: Gap Above, will bounce big time here Target: 4 ponts 9 no time to type ! ) Canceled Out Flat

Long ZBH8 114.00 Trade Setup: 8:35am -Bullish CANDLE Pattern on 5min Confirmed by 10min Bullish BAR and higher Volume ( VSA ) Target Filled 114-10 + 10 Ticks Gain New Balance: $ 9,317.75 Out Flat

Trade Setup: 3rd Day TRIN at more than 1.0 and RSI Oversold at 9 Plus No major Report and COT Index - DOW , Major BUY Signal 3:50am- Filled Long 1470 STOP 1466 8:15am Target Filled 1474 + 4 Pts GAIN Canceled STOP Loss Out Flat New Balance $9,005.25

12:55am-ESH8- Limit BUY 1470

Correction: Options Exp. is next Week. Technically, we continue to hold above the 50% retracement on the SPX at 1475 and the DJIA at 13,360. I almost feel like turning off the machines and coming back on Monday.

Today was Options Expiration Friday- very choppy and lots of turbulance and erratic Price Action. Looks like the :haha:Virtumonde Trojan Virus gave up on my countermeasures. Success ! ( acquired during PalTalk download, Beware) New Balance: $ 8,805.25 + 340% Gain on Initial Starting Balance Greetings to ALL and Good Weekend from Fisher Island,FL Top Gun Trading In The Zone

As expected on Assesment, prices droped lower, GOOD CALL :applaud: Long 1327- ZBH8 -30yr T-Bonds, Exit Filed 1329, + 2 Ticks, price action is CAPUT ! ( or "FUBAR" - not in the Dictionary) Trade Setup: SP500 Price action and 12pm Bullish Candle, 5min TF Target: 1407 12:41 Long 1487.75 ESH8 Target: 1490 , no brainer 12:50pm - Target Filled + 2.25 Pts Gain New Bal: $ 8,742.75 Out Flat on ESH7 1:00pm Long 1491 on a 2 points Pullback , Trade Setup: gut feeling and experience Out, Exit at 1492, + 1 Pt Gain, NO Follow trhough after 15mins time limit ( Time is of The Essence ) Time Limit applies to all counter Trend Trades ( safety feature )