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CYP
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Everything posted by CYP
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N - Thanks for words. I did get my 1401 and turned short at 1401. Was looking for 1397 as new target, but market wouldn't break thru 98/99 level (as Josh & Tom had noted). Today's Bulls didn't have quite enough steam to reach yesterday's close. I'll check on overnight markets to see how they respond and I'll prep for tomorrow's open. I like to envision a few different scenarios that could play out and then I adjust my trades accordingly. My bias for tomorrow is towards the negative, based upon yesterday and today's action. The primary scenario I envision for tomorrow is a lower open, with a surge upwards (possibly above today's close), and then continued downward trend, followed by late-day upsurge to finish above the day's low (but not enough for positive close). The fun part will be determining the levels at which to enter/exit the trades. That's my initial argument going in...but there'll be plenty of opportunity for me to change my mind as the day unfolds. I look forward to tomorrow's challenge. - CYP
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Tom, Ah, what timing you have!!! I have been in transition with my other job and am just getting settled into the new environment. However, I've been monitoring your guys' chats here and there but my focus has not been as "in-tune" as it should be. I continue to kick myself for trying to outsmart the market...when will I learn? Currently long since 1392.75. Thinking we'll head towards the flat-line (not sure we'll make it). Plan to lock target at 1401 and prepare for reversal. Thanks for asking and I still enjoy and appreciate all the banter and perspectives from you, Josh, and Negotiator...(and Steve46 whenever he pops in)... Regards, CYP
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Gosu, Can you expand on what you mean about exiting on stops? I understand your other 2 characteristics, but need more amplification on the exiting of stops? Could just be my mis-interpretation, but I do use stop points based upon various levels of S/R or "confluence"... Thanks, CYP
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N, As of 1400EST, looks like we're working towards previous VPOC, as per your chart. Looking for an up-close as we work back towards the 60 level...(this response is biased because I'm sitting long since 55...) Thanks for the charts and commentaries - as usual! Regards, CYP
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Did you guys take Tuesday off also? Strange to hear so many crickets here... Sometimes silence is good also - gives me a chance to review and reflect. Regards, CYP
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O, Nice call...looks like it's hovering around the 1.0660 range today. Also looks like pretty deep drop if it really does break the 1.0600 level. Regards, CYP
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Tom - sorry for jumping in, but I wanted to say that the postings/dialogue here have been most beneficial to my learning/understanding and to the expansion of my cerebral cortex, which has grown from pea-size to grape-size within the last month. I'm hoping it's because of actual learning and not from the onset of a brain-swelling disease. Again, I appreciate the postings from you, N, Josh, gosu, and a few others I may have forgotten. Currently at the 1355 area. Standing by for rotation downward, but expectantly waiting for second-rocket boosters to kick in to break through 1356-1357. If that happens, then looking towards the 60s. Hmm. CYP
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Back to where I started yesterday, which is good. Wondering if we will get back to 56-57 area today? We'll see...SL in place to protect profits, so just waiting...
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Elovemer - how do you decide that there were no buyers today? What are the clues that tells you there are no buyers? Is it just lack of volume? Bid/Ask price action? I'm curious to know how you confirmed your observation of no buyers? And did this change your mind regarding the trade? I think these are the observations that can help make a person a better trader. One of my goals is to make better observations of the market and try to capture the clues that are given. Thanks for the TTT thread. CYP
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Gosu, Trying to brush up on my acronyms -- bo = breakout fbp = ? fbo = false breakout v = volume (duh) ve = ? l2r = ? p3 = ? ltl = left trend line? rtl = right trend line? Thanks, CYP
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My magic 8-ball says the chart shows good potential for up days on Mon-Wed. If Mon does not break 1343.50, then down days will follow for Tue-Wed. Thu is still hazy as my 8-ball needs more magical elixir in order to see that far out... Heading out to store to get more Guiness...er, I mean, magical elixir...
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Mike - nice video. Thank you. How long have you been using the 1,3,8 cross-over? How did you decide on scale out targes of 3,5,8? Why not just wait until your PT is met and exit all. Do you find it calms the nerves by scaling out? I've done both and I find that scaling out and moving stops to BE help me stay calm, but I'm also not maximizing my profit potential...but oh well. Looking forward to more on the topic of being a consistent trader... Regards, CYP
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I was thinking today (Fri) should be a buy day also... Elovemer - thanks for your posts. I'm still learning TTT so every bit of info helps. Regards, CYP
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Not sure what happened to the thread, but it went from "Jack/Jill (whomever) not knowing how to trade and ideas on how to help him/her" to a Friday UFC match between Steve and Josh... I hope the thread can get back on track? CYP -
Tom - thanks for the options - I choose #1 and think that we rotate back towards the 1342-43 area. CYP
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Tom - I wouldn't say I'm working with MP/VP right now, but rather observing the calls that you, N, Steve, and Josh make so I can digest and start to develop my own thought patterns that will include MP/VP. This could be a long journey... As always, I find most of your posts very useful and I appreciate the knowledge sharing. You guys are doing a good job of teaching, whether you know it or not... CYP
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Nice...thanks for the slap back to reality -- I've changed my mind...exit with a little nick. I'm going to take up knitting and follow Tom's footsteps... CYP
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Tom - I might be shooting myself in the foot, but I have been short since 1337 (a little early on that entry...) looking for downturn at the end of day towards 1335 area. My thought - lack of conviction (ranging between 37-39) and lighter volume (thanks Josh). I imagine everyone will call the day an uneventful day and we will have a slight downtrend into the close. These are the days where that "bear" voice keeps whispering in my ear to be careful...although my "bull" voice says the long-term is still good. (I know I'm not saying much with that last sentence, but it sounded good when I first thought about it...) CYP I will change my mind if we start treading towards the 1339 area...we'll see.
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Steve - were you able to take your 3-pt partial profit at 1336? The level is now trading around 1332 -- do you still intend to wait until 3:30am to exit or have you already exited? Thanks, CYP
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(cont...)
I like your SL of 2.5 (or was it 1.5?) and how you adhere to it no matter what. I imagine that when you include your MP readings along with your trade entries and SL adherence, you have put the risk/reward in your favor.
I was positive for Friday, but I do not know if it was pure luck or because of "gut instinct" in my trades. I would like to rely less on my gut and rely more on the MP.
Anyway, more to follow as I look forward to this upcoming week...CYP
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Hi Tom,
You know -- what I find interesting and continue to follow and learn is in your ability to see the levels of the market as it changes, using your MP experience. I'm not as interested in hitting the exact high/low, but I'm more interested in your explanations of the value areas and where the market will trade towards.
I find it very hard to not trade my own opinion (an area for potential improvement, for sure) but the more I observe the markets and digest all your postings and the postings of others, the more I hope it will sink in and make me a better market reader.
I continue to get more losses than wins, but what is different this week from last week is that my losses are not as large as I have become more focused on cutting the loss when it occurs versus trying to prove that I will be "right" in my trade if I just wait a little longer...(cont..)
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Hello Everyone, I initially started trading back in 1998 but stopped as the Internet Bubble crashed and I realized how little I knew about the markets and trading. Back then, all you had to do was throw a dart at any internet stock and you were almost guaranteed to make money on the uprising trend. I stopped trading until this year, January 2012. My life is more stable and I am able to apply my efforts towards trading again, which I have really missed all these years. I've still got a lot to learn, so gathering experience from others is important to me. As I get more comfortable and consistent with my trading, I intend to return the favor by helping others achieve that optimal trading state where they can be successful in their trading. First, work on me and my trading, then help others...that's the goal, anyways. I have limited my trading to ES,NQ for now. I have really appreciated the posts and comments from TheNegotiator, JoshDance, SoulTrader, gosu, Tams, roztom, and Steve46 just to name a few. These are the folks I have seen posting on the ES market. As I expand my focus area, I'm sure there will be plenty more people to add to my "thank you" list. The TL community is huge and I've only scratched the tip of the iceberg. I look forward to being more active within the TL community. Thanks, CYP
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Hi Tom, Wow - impressive jump based upon very good jobs numbers. Looks like the market is cycling around your nodes. Does this mean these levels are the new value areas? The numbers looked strong -- so I'm thinking there is potential for a higher climb, but for now I'll just watch... CYP
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Tom, What does the Magic-8 ball say about tomorrow's Employment report? My 8-ball didn't work too well last night...:rofl: BTW, thanks for all your posts -- -CYP
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Hi Steve - Even though Asia couldn't do it, I am hopeful that Europe can continue the push upwards through the 1324 area. I project the push to start around 11:30pm PST. Thoughts? Thanks for all your posts. CYP