firewalker

To all the work you put in Great job... perhaps this thread goes unnoticed by the majority of FX traders because it resides in the Wyckoff Forum?

thx, that's just the congestion from premarket to be honest... from earlier today

out half at 230 for +50

DOW short 11280, stop 300

hi Dinos that's the NQ-100... dec futs indeed do you trade that market too?

short ES 1235 other half NQ out BE

half out +6

Long nq 1729

good afternoon Monday today! back to business... anyone else active?

Absolutely. I agree with Kiwi, Kaspersky and NOD32 are best, but not free. To be honest, I rarely run into viruses anymore these days because almost nothing gets past my browser... Btw, anyone tried Clamwin, the open source scanner, yet?

Well done on making it to 'guru' status :o Anyhow, that chart is still pretty straightforward, because the way I see it there are two 'trends': one down and one up and during these days prices makes HrH's and HrL's (in the uptrend) or LrH's and LrL's (in the downtrend). Try this, I found this period particularly hard to trade: no clear sense of direction, no sequence of HrH's and HrL's or LrH's and LrL's and before you know it price reverses.

That's a nice example of a decent trending market... but I'm more interested to see how you handle rangebound markets. Pull up a chart plz

that's more then I wanted to know really :puke: I feel for all those women...

I'm not so sure. What happens if you are the last man holding the bag? It might not be possible to initiate new short positions, but if you want to sell what you are holding you still need to get buyers interested. So suppose 50 people own 100 shares bought at $20. They want to sell it at $22, right now the price is $21. But nobody wants to buy from them, they only want to pay $18. The way I see it there are two possibilities: no transaction takes place and thus liquidity dries up (something which happened in the Freddie Mac chart I posted), or both sides agree on the transaction and price gaps down to $18. I know this is a very simplified example, but why should price necessarily go up (yes initially...)

Remember, on the 15th of July they denied short selling on Fannie & Freddie Mac. Here's a chart of what happened, yes there was an initial move higher, but it sure didn't last very long... I just think denying this activity will restrict liquidity and ultimately lead to everybody that was long to close out too.

I doubt that can do anything to deny the normal exchange of futures contracts... at least let's hope not!

I think yesterday was nice example of how watching (and waiting) for the 5-min chart to show you the entry can be risky business... some bars on the 5 minute timeframe where (on the dow) as wide as 150 points in spread! Try and catch that Great work you're putting into your journal, I've been pretty disciplined myself this month but it takes effort to write everything down like you do! I also noticed you happen to take a lot of trades on some days, I think I saw one where you had more than 25... you then set yourself the goal not to take more than 5 trades, yet I see you changed that into 8... If you don't mind me asking, how come? I see you usually don't trade all day (I should say all night for your timezone), so do you feel there are really 8 equally high probability decent entries in only a few hours' time? You also wrote: "That is probably what irritates me the most about today, I had strong analysis backed by very good probability trades yet I fail to act upon it." I hear what you're saying... can be very frustrating. But - unless these 'inactions' occur more frequently than is preferable, I would say focus on the positive elements: you had a strong analysis which turned out right. Good trading!

Gimme volume and it's done!

Bouncing off the midpoint where price spent considerable time ranging at the end of last year...

There's also talk about more regulation in the options market, so they are definitely stepping up a plate, including derivatives... :\ I wish they looked inside, because it's their own cheap and easy money that created this bubble in the first place.

The reason? "rumors of a long-term government solution to its crisis" :o Yet that announcement was made early morning, not later in the day where the actual bounce occurred...

And I'll try and teach you some manners! :haha:

A lot of lines close together though... Here's how I see it:

I was just observing the unusual speed, excellent call from smbtnt, but I wasn't around to take it and probably would not have gone long anyhow! That support is from the DAX btw, I was looking where the bounce came from on the DOW... I did have 1140 on the ES which was very close to the low of day, but any charts with a fresh perspective on the DOW would definitely please me

nah, have a look over at ET or T2W... serious bottom fishing there why risk going long when there was plenty to be made on the short side For sure it would've been magical... but even if you were long from 470, are you sure you'd still be in? I wouldn't loose any sleep over it!