minoo

Yesterdays Negative BIAS worked out today RIMM though didnot become much negative in the pre-market, so didnot exit than But Market Internals were too negative on US Open so took exit at first lower level (Refer Chart) Didnot had much opportunity to trade ES in the opening as prices were not much falling neither $Tick was getting much in extreme negative territory; Perhaps it will test or retest the VWAP Once RIMM reached S3 got an sound alert and I started to trail entry as it went below S3 (One realy need to monitor how vol acts at extreme levels in short term and medium term time frame; Relative vol play of short term and mid term traders gives an good indication; I enjoy Bottom fishing sometimes) Refer charts for multiple entries when Vol was negative at extreme low levels and when it became increasing positive. As I post this Locked in some profit at S2 Enjoy Minoo

Mystic yes apart from family, it mostly is a Solitary Traders life Though this could be somewhat misleading to the newbies or struggling traders Instead what I learnt from my solitude days when learning to trade is You cant just work hard & close Yourself in to be successful at trading (I didnot plan it this way but it just happened that way; Maybe we human beings prefer to loose in silence and solitude rather than others finding out) By the time I realise it was more about Self than System Took some steps to Balance my working & family life But by than had lost most of me social life or desire to go out much Though as family we usually take four / five weeks of Dec/Jan off abroad on holidays Now I just trade from my dedicated home/office Once or twice a year I temporarily try some interesting trading rooms out (have recently heard that Tim of eminimind has just started a new room so may check it out) But comparatively still prefer much a quiter life now Siuya agreed weather wise UK is much challenging to live and such occupation does not help! Has anyone thought about opening an online room where Traders can trade their own system and if they wish share their trades, methods & help if asked, etc Regards Minoo

In Short Took some off at the Opening on 1st Target as market had Gaped up Got sound alert at Gap fill & roll in what I took off at the opening Target Refer Charts I didnot trade much today as some how felt some BIAS for market correction at my pre market preparation. Note I took the 1st target still on +ve Net Vol (not according to my plan but jotted it & still took it. I strive to stay clear of BIAS or stay out. So COP'd it & went out in the Evening (UK time) COP: Conciously Out Position Enjoy Minoo

Please read this thread for AM Update & Trading http://www.traderslaboratory.com/forums/stock-trading-laboratory/13306-facebook-thread-analysis-investment-5.html#post155086 In Short: Had PC problems today and also anticipated Big News TradingDay so concentrated in Daytrading the ES in the AM today Had some holding in RIMM, saw price rise a bit in the pre-market, tighten stops on open to near BE level and got out. Later took some positions in RIMM at lower levels just above support as Net Vol started to roll in favour of long-trade and already established positive Market Internals Data with Indices rising So nice price divergence with non-price data confirmation and took the lagging longs Didnot give much chance to Average-In the stock, But Scaled In positions in direction of MI & Indices Conformance on positive Net Vol opportunities Sorry no timely charts update today but will post here some to let them do the rest. Goodnight Minoo

Sorry for late posting as my Work PC played up a bit today (bad sector errors on drive, so HD soon to be replaced) A bit challenging day for me, sorry No timely charts, this is the best I could do. News Day so had to concentrate in the AM in Daytrading the Futures As recently mentioned I anticipate a parabola type pattern and mentally have to prepare myself 'Differently' for Big News/Speech daysI seldom take part in the first directional move of such news day to preserve my mental-capital as these days are normally long & usually rewarding to trade If you menatally prepare yourself to play the known usual parabolic pattern than they are also fun to play (It may look as countertrend trade and may involve reversing as well) First thing is to act your discipline, as mention previously COP (Conciously Out Position) for the initial Opening-Direction & Leg Than once I get the change in signal from Market Internal data (extreme $Tick Hook, Prog Buy / Sell Alerts, etc) affecting the Price, I go Prepared, Tango with this Lanky Lady (market price action, Refer to ES Charts) FB Was challenging to come back to play with; As due to my recent stock daytrading account locked up at PFGBest Did played a little with FB; Didnot take any major position long as still there is impending Gap to fill at lower level Only manage to scale in no Averaging today in stocks FB did move lower after I took the initial positions but turn around just before touching the support Area below When I took these FB positions it had clearly fallen behind to rising Stock Indices. So for me clear divergence in prices & just took the ride on the lagging FB prices when Net Vol become positive just above areas of support (by time of stock entry Market Internals, $Tick and Indices all had turn around and were scaling higher) Enjoy Minoo

Please Refer to chart for Breakeven exit Stop and ReEntry Once they can see your stops, most probably in the afternoon they will just get trodden over if in their range. Though manage to better my Re Entry Level shown in charts Previously When I made profit in counter to Market Internal (MI) conformance, I didnot locked in profit tighter for the afternoon lul & hence let some profit slip by MI are still on the negative side so tight stops $Tick and Net Vol of RIMM are nicely positive for the time being Will see if they give me another chance to Stop Out at BE and Average In at lower Prices or Scale In at higher prices. Thankyou Minoo (Not sure why my margin is showing so low though ?)

The previous positions were averaged in (long) when the Net Vol was negative so stops were kept tight. This could also be classed as bottom fishing so I will trail them tight till Net Vol becomes postive (as I went long) in direction of trade in short-term, intermediate and daily time frames. (top right of windows) Ideally to keep the whole position and not scale out $Tick need to remains mostly in positive territory ES has just filled the Gap from the Mean Reversion Fib line (orange), so out now & done with futures (Refer Chart) Hopefully RIMM consolidates here so giving it some room (stops now below S2 & 7) (I simply loose interest in the stocks once my ES day trading is done) Enjoy Minoo

Quick Note Pre Market was negative so had stops below yesterday lows to lighten the position a bit and Got in below 7 at Area Support. (Refer Chart) I took the entries even though Net vol of RIMM was still negative & the stock was already over 3.5% down. As ES was coming to support at 1343.5 with $Tick picking up, so took some quick positions into RIMM as I was gettting good entry just below 7 perhaps an historical low. On Day Chat there is potential to form 2B Signal (lower low formed with momentum upswing)

Waited patiently almost to the end for better Average In price But the Stock didnot much falter from the support level Wanted to get in just in case it Gaps up Monday AM But hope it give a better average instead to roll some more in at lower price Enjoy Minoo

Is RIMM now worth investing into Would like to try Averaging Into from this Level (@7:28 EST 11:22) Is this now a good contarian and technical stock or still a falling knife ? ? Thankyou Minoo

Sincerely to all those are affected its time to take proper action and plan to move on I will struggle myself to file it and get on but absolutely need to do so. Will try to make peace with this happenings first though with some positive pun Here is the advise from NFA to do Important Message for Customers of Peregrine Financial Group and Peregrine Asset Management Thankyou NFA, You await for things to go wrong When will you learn to let us justly earn Despite such incidence you ignore Traders Plight Has not Uncle Sam, made you mighty and bright ? Was right on path to gain my yearly goal Yet on your watch, Some punter's created hole Got paid by my Dole Last time it was by MFG this time its by PFG Sounds all familiar & you let repeat it all the more This is Neither of my Stakes, Nor off my Mistakes Left again to fill, others punters Hole I condole not yet, but seek chance to console Will your cousin IeRA, fill my (f ing) Tax Hole ? (emotional matter of grey come pouring in my native tongue but difficult to translate into another language, did me best to maintain the pun) Thanks for the messages guys, will live to earn another day. Goodnight Minoo Note: I found the below thread, I wonder which one of them posted it? Interesting though! http://www.traderslaboratory.com/forums/introduce-yourself/8585-managing-director-pfgbest.html

Here is the link to the above mentioned Reuters article MF Global redux as regulator says PFGBest client funds missing | Reuters +-------Below is short Extract from the article------------------+ Unlike the securities markets, customers of futures brokers do not enjoy any government or industry-backed insurance scheme in the event funds are stolen or go missing. In the wake of the MF Global collapse last year, exchange operator CME Group set up an insurance fund that covers farmers and ranchers for up to $25,000 and cooperatives for as much as $100,000 when a clearing member fails. CME did not immediately respond to a question about whether the fund would kick in for PFGBest. While the Commodity Futures Trading Commission (CFTC) has taken some small measures to toughen up rules protecting customer accounts, investors have said they may not be sufficient to fully restore faith in the industry. A joint review of the 70 largest Futures Commission Merchants (FCMs) by the CFTC and NFA in January said they found no "material breaches of customer funds protection requirements during the spot check," leading traders to question how thorough the review was. "You would think that the government would be watching these accounts and doing something," one PFGBest employee said. "The NFA can't regulate this industry." +--------------------------------------------------------------+ Also check the Commodity Customer Coalition website Commodity Customer Coalition | Fighting for the Quick Return of 100% of Customer Assets in the MF Global Bankruptcy If anyone in reality has gone through such experience than would like to hear from yourself. Thankyou Minoo

Is this SEC Freeze on Aubrey Lee Price of PFG LLC; PFGBI LLC, etc on 2nd July linked to PFGBest ? ? ? (Note I am asking; Dont jump to any conclusions) Aubrey Lee Price, et al. But Sure one more Drama PFG to be played out when MFG is still on going . . . .

Price Pattern and Candlestick Pattern Site They have over 70 Videos on Trading Patterns FinVids.com (Finance Videos) Official Site (Click either on Candlestick or Price Pattern to see the list of Videos in the Category FinVids.com YouTube Channel - YouTube Worth Checking out Enjoy Minoo

Jimbo nothing but patience, wish I had more of it. Yesterday was challenging to hold as the indices were tumbling & was doubting whether I dont land up marrying this stock. But FB was very resilient yesterday. Once you have worked your position, nothing else but to sit tight; Wish my memory was good enough to quote Jessie Livermore quote here. Today it paid me well & just took most of it off as Net Vol went negative approaching area above, Refer to chart I am holding some token shares to again do the same drill Average in when opprotunity allows. I will wait now for either FB to hit the above fib and gap targets and than retrace back towards the unfilled gaps it has left behind. Enjoy the Weekend Minoo

What I did after the last chart and whether I am long or short now and what I intend to do with FB ok will answer to these question & clear up misunderstanding on lock in profit term I am not sure of my future intentions now but will keep and eye on FB I beleive in having some big Eggs only and looking after them Deligently Admit liquidity and volatility both are good in FB Whether FB qulaifies or not it remains yet to be seen (ie Value, Yield, Corelation, etc) First I want to clear up one misunderstanding here about Lock in Profit (LiP) When I lock in profit that doesnot mean I have made an decision on market to take off the contracts or shares immediately I tighten my stop as it approaches target areas and let market do its own thing, If it wants to give more than I will trail along happily & if it doesnot than the tighten stop loss order will do its job; Though I will pull the trigger if both net-vol and $tick have evidently change affecting the price What I did after the last chart posted ? (or rather how it played out) The target R2 was almost reached with momentum and as some WRB was evident on 10 minute chart. One would anticipate some pullback as ES Gap had also just filled (marked in chart) When its difficult to make decision during consolidation period or pattern formation I employ non-oco brackets, to let market work out its own direction and trigger into trade in its own time. FB formed price-pattern (Refer Chart); Where its best left to market to workout its own direction. I noted the negative net vol and $Tick falling and anticipated the trigger to the downside bracket order Price gracefully than mean reverted to the Fib line (Refer Chart 2, orange line) & Lets just say I took the remaining off at first line of support, so virtually flat here. Note the Net Vol is still negative so I normally would hold, if short and lock in profit by tightening my stops; Unless both Net Vol and $Tick changes (The situation was different here as market had reverse my holding and I will allow that to the point of mean reversion slope) I hope it certainly doesnot matter now whether I am in or long or short FB I believe One can make money by their Own way Only Trade according to your trading plan and dont change it on the fly Otherwise you will be trying to trade someone else's Plan and against your own Personality You can learn the method and make it your own first & than try out the odds (Whenever I change my Trading Plan, I vigourouly test it with my Trade Management criteria) Yes, I do Reccommend a Blog and a Book, Please find it in Zdo's thread 'Flow Thyself' http://www.traderslaboratory.com/forums/trading-psychology/7576-flow-thyself.html I believe, its mostly about overselves rather than about our systems or trading plans; Previously when struggling I spent 90% effort & repeated effort in indicators, plans, system, etc etc. Had heard about 'Self and Psychology' (SnP) were all important but seldom did reaslise than, The importance of it or How True it was. Make an honest effort in yourself and see what difference it makes to your trading life. Best Trading to you All Minoo

(I will try to cover questions of Market Internals, etc as well as Mits question above on ReAction, hence a bit long winded reply . . .) Please be aware when you read the below that I prefer to differentiate between Market / Price 'Action' and 'Re-action' To me market or Price Action is mostly normal auction of healthy bid / ask with reasonable volume Market Reaction is borne out of News, Speech, Stats, etc etc I would rather prefer to Act according to my system than React to news releases or speeches (noise) Bias is something I strive to stay clear off as this mostly is borne from my thinking or on the fly analysis The best practical way I have found is to be aware of such news events than conciously cut down on the outside noise. I try to derive info from my charts & data only, Both of Price charts and Non-price data (more important) Non Price Data (Market Internals) Personally in my trading plan I call it as 'Market Radar' ie Up & Down Vol; Increasing & Decreasing Issues, Buy & Sell Prog, $Tick & USDollar Direction My RADAR shows me the Preference of the floor (existing pressure or energy of the market) I have preset sound alerts on Market Internals Data so my workspace alerts me timely on events such as extreme $Ticks or prog buy / sell which precedes price Re-actions. Next is Grid (ie Areas) Defined Areas ie RTH Open, VWAP, Previous HLC, Globex Hi Low, Gaps, Pivot levels, etc Lastly or rather Firstly is Preparation Premarket Preparation of Self and System both (Vital Step) Where I prepare myself to be objective part of my System & Trade Management To do my assign Role, Processes as per Events I develop market-mental-map during the pre market preparation (ie take account of overnight action, impending news, speeches, Gap, Present price level (Fib measured alternate) last Mean Reversion, etc) With the above mental prepartion and map if some news/speech moves the market negatively or positively Than you have the real time data of Market Internals (with timely sound alerts) and Grid layed out for the price mostly to be reactive from and within (S&R areas). Most News events resultantly trade as Parabola pattern (Sometimes not on the same day, check the last two days indices data & draw out the Parabola than go back in time on big news days and check for the recurrance) Also have a look at price pattern on lower time frame charts preceding to big news or speeches; I avoid taking new trades when pattern is forming. Understanding of How Market Internals acts precedingly to Market / Price Reaction (news, speeches, etc) and during Proper Price Action or Auction is Vital. Many Trading Plans do not account for such different Market Scenarios For daytrading the eminis I prefer the Opening Preference of Market Internals rather than Big Picture or Higher Time Frame charts. Here Big Picture is my present Hind-sight But developing Bias based on Big Picture I find it deterimental to my Daytrading (This is personal to my system) I would rather concentrate on the Markets Current or Opening Energy or existing Floor Pressure derived from Market Internals rather than any higher time frame chart for Daytrading. I try to keep my Trading Environment clutter free & focus on the current data and chart action, especially when price approaches defined areas in my system (Important); This practise gives me much confidence to trade the market. But realistically we humans cannot do well at all times with the market despite all the routine and preparations. Than the best position for me is the Conciously-Out-Position (COP). This exercise was particularly hard for me and had to get professional guidance as if you fail to stop than you may sabotage yourself (Conciously or Sub-Conciously). My focus mostly lasts from 20mins to 2 hrs top. So I do my trading etc in two or three different sessions for the Day. But mostly only do two sessions. When lack of focus or void happens there is room made for emotions to play & may takeover; So I tend to have mental routines to make my self act timely (Process based Trading). I have studied the science of Trade Management but to perform the The timely Art of Trade Management is quint-essential to me. No Rules here only Guidelines or my mind inherently wonders away to break known Rules (especially the Donts or Do Nots). Have a Congnitive plan to train yourselves to your system and trading plan. Know and acknowledge your traderself (the good, the bad & the ugly). Exercise and Cultivate the Discipline rather than just trying to Impose it on your trader self (It didnot work with me, kept trading my mistakes repeatedly and call myself all sort of things and wasted a lot of time) Thanks for all the questions, hope I have covered most of them. For extra charts, etc kindly refer to previous threads like; 'Charting the Past Bear' and Steve46 thread 'Ideas for Struggling Traders' There is also seperate Market Internal Section at TradersLaboratory All the Best Minoo

8June RTH opening ES Gapped Down Market Internals negative with $Tick mostly negative at opening But FB showing very strong positive Vol today right from the opening (FB Gapped Up) Hopeful of ES Gap fill as it tested the 1300 area in RTH successfully and have turn to the upside with $Tick above zero line Got to give it time to work out . . . . . As ES filled its Gap levels of 50%, 61.8%, etc FB went up through resistance level with Net Positive Vol; So hold through each of them After ES filled Gap at 1309.5 FB approached R2 level and Vol became Negative And the Rest is History . . . . . (Refer to Charts) Though note today 8 June FB has left unfilled gap below at 26.3 ish I hope I have been able to shed some light here Enjoy Minoo Note: Mits and rest I will get back to you all with an common answer to your questions & queries

As requested my ES Chart I primarily daytrade the emini Indices ES & NQ I use put options on popular Indices at areas of Target to protect my Invested ETF Portfolio FB stock is not part of my portfolio & am experimenting with it and doing the same thing I never invest the whole lot in, always Average In around the identified Areas and Scale In when market permits At Targets collect some profit & employ Put option (When Big Picture is Bearish) to protect the rest; Again at Support below Buy the Stock using Indices charts support and non price data events Thats it. Hope this helps Minoo

Just the same thing (Get rid of Put before CBOE close and Buy the Stock) As ES came to my area of 1306 after filling the overnight Gap at 1309 ish $Tick hook up with ES Net Vol starting to pick up FB nicely came near the aformentioned 26 Area And limit order at Pivot area just above 26 got executed (Refer Chart) Will we get the chance to average in below 26 tomorrow or will the area Breakdown ? ? ? I am just trading Technically here; Not much of News or Fundamental Guy Its very difficult to be consistent as it is; Too much of such information makes me compromise my system so I avoid it if possible. Goodnight Minoo Note: I bought FB even though the Net Vol was negative but use the anchor chart of ES instead

Ok here is the chart Look at the Net Vol in top left corner of 1st Window I trial it as long as the Net Vol remain positive Nearing R1 as it got negative I took off some profit (6 June) Got to go, I may not update tomorrow Enjoy Minoo

Trade Progression Targets to Lock in Gains As I post this again 26.96 (Orange line in chart), Trigering some profit taking But Net Vol is still positive so just Trailing Stop close some profit taking Refer to Chart Please I am done for today Thanks Minoo EST 1501

A quick update Entry at 26 on retest with positive net vol As I am writing this (EST 1445) FB at 26.5, so locking in some gains here, same as in AM Refer Chart

Indeed ES touched 1300 in overnight trading and gracefully mean reverted to 1290 ish just before RTH opening & back to 1300 level around EST 1000 Opening Notes Market Internals from the open were strongly positive, With $Tick so far in positive only terrritory So seeking entry near the lows on positive net vol on FB when / if it retest the low area FB fabulously dipped below 26 (opening low =25.52) so Limit Order at 25.60 (24.6 would been text book trade but .. . . taking what market is giving now & getting back to my futures trading) Order got filled almost instantly, so snapping and sending I will give this averaged in positions the time and room to work out As I scale in at higher levels I will trail the stops up Got to pay attention to my daytrading now, yesterdays 1277 at VWAP was an key area Enjoy Minoo 1013 EST

FB EOD Update Forgot to mention I went flat on the FB puts before CBOE close, purchased at 1 June Gap fill level in the AM I prefer to use put options instead of static Stop Loss on Stocks and ETFs while averaging into its value I mentioned my intention to Average in right from the out set as its difficult to trade the bottoms. Note: Put option increases in value as one gets to average in at lower prices FB shyed away couple of ticks from entering the final Average In Zone so did not manage to Average in the Last part of my first lot (Refer Chart); But amticipated buyers at close so am glad to be out of put position If overnight ES session trades higher towards 1300 than FB has good chance to Gap Up along with the indices at open tomorrow FB closed 25.87 with Good Positive Net Vol Note: This type of investing is certainly not meant for the newbies or traders who does not understand the Hedging concept, but you may learn, Non-price data on indices and the stock is vital, note where the ES fair value closed today. New Stocks / IPO like FB lacking in Data are challenging, I am just taking it publicly to adhere & be consistent at the method. Keep an Open Mind and you may Learn, who knows either from my mistakes or method, Its not about being wrong or right, The Market always will take care of that. My intention is to try use this method to be more consistent with this Challenging Market & Stock. Trying it out publicly may Help my concious behave consistently, Amen! Goodnight Minoo