brownsfan019

With an hour or so left (this day FLEW by!) Working on trade #18 currently. Before this trade, sitting at +19.58 pts net. Great movements again, outside of that hour that chopped me around some. The worst part is that I hope this volatility does not end anytime soon!!! Hopefully an active July and August will mean an even more active fall! Time will tell. This volatility is why my trades are running till a reversal shows. It's not perfecy by any stretch, but my bigger wins today are 6.25, 6.5 and 5.75. As long as the market is willing to move in larger moves, I'll keep with this.

OK, got some nice movement again! Just had to wait thru that chop around 11:30-12:30 EST. Well, not sure how many are actually trading and if there's much interest in this thread since it's kinda turned into my little journal.

Can't win 'em all Tin, that's for sure!

And the bulls take it. A harder day here. Currently at +3.72 net and now long from 66.25. Hopefully these bulls run this up a little more and pocket some cash here. Just ride the stops of all the bears, right?

Back on this short train at 65.00. We'll see if the bears can take this down or not. Looks like volatility is drying up a tad as everyone takes a little breather here. Bulls sure are trying though - large upper shadows/wicks on the 3 minute.

Little choppy here after that nice move down. Man, trying to post here as close to real-time as you can is tough! Might just have to chime in on the hour or something.

Ok, now long at 64.25. took a -.75 on that short.

That long was closed at -1.75. Currently at +5.46 net with a current short position at 63.5.

Out of long @ 63.5 and now short @ 63.5

So, anyone else out there in TL land placing some trades?

Stop is @ 62.5. This one may not work out as planned.

James, Take a look here - http://www.traderslaboratory.com/forums/f103/7-30-07-general-trade-log-2140.html We had a question about getting an auto-refresh function applied to the daily discussion thread since *hopefully* if it gets more popular, there will be more discussions taking place.

Out of short at +6.25 now long at 65.25.

Interesting. I've never viewed it as being 'too cheap'. That's an interesting comment. I guess I view each trade as the same 'cost' so I just take 'em when I see 'em (most of the time).

Got a good break to the downside here. Price at 65.5 and I'll be looking to remain short if the bears can keep the pressure on. May look for a buy if not.

Short @ 71.5 on the ES. Now just waiting to see if this consolidation area busts up or down. Keeps going back and forth.

Anyone know if there's a way to set this thread to auto-refresh in your browser window? If we can get this active, I'd love to just have Firefox refresh this on it's own vs. me doing it. Any ideas either through TL and/or Firefox?

gc - how did you miss the 2 entries? Just curious as I miss them too and wish I would not!!

To me, even a plane flying to a building is not enough reason to turn the TV on. Why? B/c there's going to be some major trading going on that I need to be a part of. I realize that may seem too opportunistic, but let's be honest here - the market does not care how or when it takes/gives you money. It does not care if you just had a bad day or a plane flew into NY city. Just my take for why the boob tube is just not useful during the day in my opinion.

ES price action still lively to say the least. So far, I've got 8 trades, 4 winners, 4 losers. Up +1.12 net thus far. One frustrating loss on a long at 68.5 that was ticked out and is now proceeding higher. I hate ones like that! :mad: This is good stuff though if you like instant gratification - either you are right or wrong and you will find out pretty quickly. One observation - check your ES dom. Earlier today the actual depth that was shown on the dom was pretty light in my opinion (less than 1000 at each level). It was very erratic during this time. Now there's some more volume present at each level.

Well, it seems like there's some interest in a daily thread to discuss setups, ideas, etc. based on this thread - http://www.traderslaboratory.com/forums/f17/trading-room-2116.html So, here's a thread for Monday, July 30th. Someone will just need to start the thread each day and we'll build it from there. If you have some analysis to share for Monday, feel free to! Or post during the day on Monday as time permits! Good trading everyone!

W - make sure to check out Open ECry. IF they have the markets you want, the data is FREE to clients. You can use their charting as well or plug the data into a charting package like MultiCharts.

Abe - please turn that TV off. CNBC is of no use to you now or in the future. Their sole job is to keep you watching so you watch commercials. That's it. And to do that, they have to sometimes hype stuff of that simply is not there. And like others have said, it can easily put a bearish/bullish undertone into your trading whether you realize it or not - Example: On CNBC they were also saying that today had very high volitility and uncertainty. So I was not able to clearly determine the sentiment of the day, but now I see that it was a bearish day. So CNBC said there was uncertainty, but you later saw a bearish day. Obviously CNBC didn't have a freakin clue and as a result it looks like you just watched some nice action unfold b/c CNBC told you so....

Tin - Impressive chart and analysis! Thanks for sharing!

I wanted to provide a little background on my use of candlesticks for anyone that might be interested. :p As many, when considering trading it's overwhelming where to begin. The first thing was how to display the charts and candles was one of the many options. From there it was an inquisitive nature that brought me to a few different books and websites out there. In the end, I liked what I saw with Steve Nison. I started with the books, progressed to some DVD's and I have gone to one live seminar with Steve. While that seminar was the most 'expensive' it was great. I am a very visual person (maybe why I like the candles to begin with) and a live seminar is a great experience. Yes, it will cost more than a book or even some DVD's, but in my opinion, it's a great way to shorten the learning curve. I realize that sounds like a Nison commercial, but that's where I've come from. Now my candlestick analysis is much more than just finding the shapes. At the beginning, it really feels like it's a 'find the shape' trading plan. Now, I understand what the candles are telling me. I've mentioned this before - I think EVERY candle tells you a story of the fight between the bulls and bears. The sooner you can get your arms around that, the faster other things will make sense. It sounds simple, but I have yet to find a book or DVD or website or newsletter that stresses that part of the candlestick analysis. I hate the 'find the shape' stuff you see all over the internet. You need to eventually get to the point where you can look at a candle, regardless of shape, and just 'get it'. Get what's going on and get why this is important. This leads me to another pet peeve of mine - trying to program these 'find the shape' things into a computer program. I have yet to find a computer program that can find what I might consider to be a bullish candle since there is some flexibility needed here, esp in day-trading. So, I would highly recommend you learn about this before trying to get a computer to do it for you. It's like learning math - you need to learn how the numbers work before you use a calculator. We'll discuss some different ideas and charts and see how candles can help. This is not a one size fits all, so keep in mind that candles may not work for you! I'll try to post some charts next week and in the meantime, if you have some charts or ideas or questions, feel free to post them!