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bakrob99
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Everything posted by bakrob99
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Here's what I was looking at with trades marked by the yellow arrow. It's still running - up 6 pts and climbing.
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The only buyers around are the guys taking profit from their shorts. The market looks like it wants to go down to 1320 so this might not be the best place to expecta turnaround. But it is 1530 EDT and I'm keeping my eye out for a pop. 1332.25 still holding (sorta). Update: 15:50 EDT: Well, we finally started to move up. Stopped myself out once then got long again and hoping for higher while trailing stop. Who knows. This might find a lot of buyers before the close.
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alright alright ... 1332.25 had to be hit. now ... its done ! Can we start going back up please.
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1332.25 is my target here. Big selloff as anticipated and could keep going for a bit. Still early in day. These moves are toigh to get into if you miss the first chance. You sometimes have to suck it up and get in... I missed the first push down... then got short at 1340.25 which I thought was a poor choice but it's done nothing but selloff since then. Something about trading your convictions. UPDATE 1332.50 hit close enough for govt work. got long at 1233.00 see if it moves for me.
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42.25 CRITICAL A break below could put some legs into this down move 40.75 would be a measured move and is the last support line near here
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Been buying 44.50 hoping to get up to the VWAP but this is in slo mo mode. 1st push up was okay but this market has stalled. Of course, 44.50 is the VPOC from yesterday and we're rotating. I will have to wait for a break up or down if this thing fails now. 13:22 EDT STOPPED AT BE
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30minute volume is very light. No large traders jumping in here.
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And the EC didnt have any push thru the VWAP and has been selling off... NO Buyers cam eback in at the push up. I have amended my plan and am short from 54.,50 looking for gap fill and then we'll see.
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I am watching the range from 1347 to 1361 and plan to trade from the long side after any initial selloff.
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It is absolutely CRAZY that we even have to worry about it. There should be responsibility taken by the CME (exchanges) that they should hold the funds and be restricted from placing them in anything other than a CFTC/NFA guaranteed account. It is mind numbing that an individual trader can work thru the difficulty of becoming successful in trading only to see the rewards of his/her effort evaporate. Incredible.
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I can't. So that's why I have 2 accounts and remove every week 50-75% of my profits. But what is your alternative which is "safer"
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Keep your account only as large as you need for margin requirements. And have more than one. I use Tradestation (owned by Japanese firm Monex, sizeable) and also ThinkorSwim which is owned by TD Ameritrade (sub of TD Bank Canada). I feel ok with funds in these institutions.
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Incredible but turns out that PFG Best president tried to commit suicide. http://www.zerohedge.com/news/pfgbest-now-mf-global-part-2-220-million-segregated-client-money-has-just-vaporized Wow, any wonder why this business is losing clients and volume thinning out. http://www.zerohedge.com/news/futures-brokerage-pfg-best-freezes-accounts-following-discovery-accounting-irregularity
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The Secret (or Not) to Day Trading Futures
bakrob99 replied to AgeKay's topic in Day Trading and Scalping
I really thought when I started trading in 2006 that it would be easy for me and I wouldn't have such a long learning curve. This was my ego talking. I have always been successful in the things I choose to do throughout my life - so why not trading? Well, I agree with this post. It took me longer than 2-3 years to become profitable. And even now I struggle at times to accept the risk and avoid the self destructive behaviour that dogged me for years. Technology is a requirement - but is insufficient. It's a cruel fact that things will go wrong at the worst moment possible. (At least, that's what you remember because when they go wrong at times that don't matter, you don't event think about it again.) Example: Flash Crash. My platform almost completely froze during this event and all I had to "watch" was the time and sales. I got caught with too many charts open and the volatility and volume spiked so much that the platform was unable to catch up. I have made changes and improvements since - but I still remember thinking if I were on the wrong side of this I would have been in serious trouble. So yes, having a backup plan, having an alternative, reducing risk in every wau possible are requirements but again are insufficient to produce a consistent profitability. It takes time - screen time - trading time - mental time - and then it finally starts working and then you build, slowly, consistency and confidence. Then it's very good. -
Yeah, looks like my "persistance" has paid off and now just managing the trade. It has the potential to rally strongly if the shorts jump off the bandwagon.
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The Market is heavily short since the Sunday opening and I think the risk is for a short squeeze. So I'm happy to buy when there is evidence that others are doing so. Besides, there was not much of an effort to sell off below the Friday's low. That said, we still are not trending up.
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Of course, I would like to thank you because this thread and your analysis have been very helpful.
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My new target is 45.75 and if it takes out 47 then looking for 49.50 and above to Settlement. First it needs to get thru 44.50 though UPDATE 13:28 EDT 1st Target hit
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I think half of them are mine
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Oops. Couldn't break thru the VPOC or VWAP. Need a stronger push now. 30minute chart is looking good though.
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Long again at 42.50. Just can't seem to get short today? I'll be having an itchy trigger finger if we get to 5.25 pts up on this push around 46.25... watching for a quick exit.
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You're right. Had another long signal at 1341.75 which was nice but missed it as I was having lunch. The first down swing off the open went for 6.25 pts. This last down move stopped at 6.0 pts. The first push up that after the IBL was 5.25. Let's see what this one does when and if it gets there.
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I have added back 1/2 to my long at 1344.25 Moved stop up to BE on both. Update: Out at BE on last part of the trade. Selloff continues which is a bit surprising but not that much as the volume of larger players is definitely lacking here.
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Strong push which took out swing. Out 1/2 at VWAP and stop at BE +1 tick. Walk the dog now....
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I have POTUS speaking about taxes at 11:50 EDT