sanchez

closed 78.75......-2 tix

es short 78.25.......watching PA closely here

Long 78.5......CT trade so will keep stop tight. As I am writing this I C I didn't get filled at 79.5 so I tightened my stop to -2 tics and was stopped out

covered all at 79......flat now

covered 80.50....12.5% position....79.5 & 78.5 area would be nice:)

didn't mention that I covered 1/2 position at 82...+1 but that is pretty much standard for me. I will be more liberal depending on the setup but for the most part, that's the rule. A lot of vol being put in at 81.5 level watching PA for clues. It's a free trade at this point so I can be a bit more patient. Even if I were to get stopped at 86.25(which is not where my stop is) I still wouldn't lose on the trade. That is why I scale out so I can try to let a trade work. If PA changes I can always hit the button and get out

PA is struggling here and I wasn't gettikng filled at 81 so I covered 1/4 pos at 81.25....14/ pos remaining

ES short 83....tough area but possibility of the 80.5 area being tested

covered all 82.25................

covered 12.5% @ 81.5.....12.5% pos remaining

83.5 was yest hi. we exceeded it @ 10:08....made a new hi on lighter vol at 10:10. I missed the short at 84 because I was typing lol but got a local retest or baby H&S @ 10:12 so I took the short. +1 on 1/2 pos and +2 on 1/4 pos....25% remaining and looking for 80.25

short 83.75 ......................

watching 96.5 and 1100 as well

going to start with these #'s for now. Tough AM for now as I'm just getting settled with the rollover. 2 trades so far, both shorts...each worked for a +1 pt on 1/2 position and -1 pt on the bal...so BE for now. the most recent trade was a short at 78.75 after the gap filled. upside 78.25 and 83, 88 downside 73.75-71, 67, 64

AmCan1, I do use instinct to some degree (tape reading) but I do have rules and a trading plan> trading plans are different for everyone & mine is no exception. My plan doesn't have a rigid entry and exit technique as you might know it. For eg. I am not waiting for some kind of candle pattern at the 61.8 retrace and taking a trade one tick above the high of the pivot candle. I won't say I trade by feel because I am looking for pre defined areas of S/R but I make me determination as to where or what price to enter. So if my level for a long, for eg., is 1065.5-1067 I won't just rest a limit order there but instead I will wait until price reaches my area of interest and look inside at PA to determine whether or not to take the trade. I do have structure but maybe not how it's taught in a book. As a trader there is a certain instict but rules are important. The # 1 rule is ....take your stops like a pro & move on. If a trade isn't working, just get out. W/O this rule the odds are stacked against you. I hope this makes sense

I profile vol on the chart. I use various combination's though. I am interested in the recent swings and also intra day profiles. I find the combo pretty strong

data is finally correct. I took a few trades but kept things tight. From my perspective, things will begin to normalize more by Mon-Tues. Unemploy # came out today but I guess no body cares about them anymore. tomorrow we have retail #'s so lets see if that creates some opportunity

The DOM is hard to explain in a few sentences but here's my deal, if you will... I look for s/r levels based on vol @ price. I use these levels to make trade decisions when price gets to those areas. If we are in a tight range I will scalp...scale out and keep stops tight. If we are in range expansion....I will be a bit more patient and look at the bigger picture. I let PA dictate how I should manage my trades. I'm not always right and I don't expect or want to always be right...that's too much pressure lol. Anyway, I don't stare at the DOM ot time and sales all day...just when price reaches areas of interest to me. Then I look for balance or imbalance, as I perceive it. The only decision at that moment in time is whether to enter or not. Hope this makes sense sorry for the delayed response but I'm still dealing with rollover BS:doh:

Jumper, I usually take my entries off small TF charts....1 min for example but it is really what I see on the DOM as price approaches my areas of interest. The S/R areas overall, are what is important though. If I see price approaching at 100 mph, I'm not going to stand in it's way. I will look for what I think is exhaustion & equalization of buyers and sellers. Sometimes it means getting a 2-3 tick better fill or passing on the trade altogether. If I know I am taking a Counter Trend trade, then the entry is very important. If it's a pullback in a trend then I can be a bit more liberal. The key is to have all the ducks in a row so the only thing I need to focus on is the entry. I know where my stop is going to be, I know if it's a trend or CT trade so PT's are already in sight. I know where S/R levels are etc. IMO, there is nothing worse for a trader then to have to be making too many decisions once in a trade. I figure it out first, to the best of my ability & then take my losses and gains. Once I am in a trade, I have an expectancy for that setup & if it doesn't develop the way I think it should for that setup then I get more aggr. with my stops and squeeze out the risk....there is always another trade imo. I agree that PA can be interpreted differently with each trader so let me try to explain a bit. I look at PA on a daily chart right down to "100 tick" charts. It's the volume associated at price levels that get my curiosity & that is when I begin to micro manage PA for an entry. So, by definition, PA changes for me between time frames but to me PA is very specific as to the TF chart I am looking at. I guess you can say it's about context. I will try to explain as I go along. Hope this helps. just got an email from my platform techs...lets see if I can get this data straightened out:crap:

sorry for the delay but rollover data is not equalized and I can't trade like this. Just trying to sort things out. I trade the currencies on the CME not forex so the volume data is stable and reliable, imo. I'm not familiar with vol data that comes though forex brokers so I really have no idea. That is the main reason I trade the currencies and not the forex. I believe esgnal now has composite vol data from approx. 32 sources but it is only tick data and not true volume

OK...looks like there is an option to create a room. Might be something to think about as I do not use indicators/oscillators & not sure how active the room is. We'll see how it goes.

How does the chat work? Is it specific to this thread ? Sounds cool:cool:

tomorrow should be interesting as rollover days usually are. Will post a bit but a lot of things I look at, are skewed by the equalization. If I am too aggr then I may get chopped to death...we'll see how it goes. We also have unemployment # tomorrow 8:30 AM est

Good deal. I won't go over the trades I have taken, or attempted to take, so far this AM unless you feel it would be useful. Mkt is slow right now and rollover tomorrow will probably cause me to alter some of my trade decisions for a few days as equalization plays out. I will be as clear as possible when I post. Maybe need to post an abbreviation page at some point but just let me know if I'm not making sense :doh: As I mentioned in my 1st post, I am new to posting in forums & might take some time to get into the swing of it, so please bear with me. WHAT I DO: I only day trade and hold no positions over night. While having a bigger picture view of the mkt, I will trade on both sides. In my view, the trend is only the trend until it's not & this varies for everyone. These are just my views and opinions but I truly believe that what I am looking at is the driving force behind price movement, as I trade it. I have been trading for a long time & I have had to go through many transitions along the way. From the floor to the screens and all the rule changes and regulations, it always seems to be a work in progress but my basic core belief, from being on the other side, never changes.I am looking for areas of heavy/light volume in coordination with PA to help time my entries. Sometimes I will take high risk trades but if I can time my entry well enough to keep my stops tight, the R/R can be great and I am not expecting a 90% win rate....nor do I need/expect it. I have good days and bad days like any other trader. How I deal with them has been the key to my success as a trader...that's 90% of the game imo...& I'm being generous. If anything I say or do helps someone along the way that would be great! I'm not looking for or inviting confrontations with other traders as I understand that everyone looks at the mkt a bit different & my way is not the only way. If we can just agree to disagree, that would be fine. Good Trading To All

contract rollover tomorrow, beige book at 2 and Bernanke at 4. Not expecting to do too much trading anymore today but I've said that before.