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firewalker

Live Indices Trades

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Ehm, I suggest wider targets ;)

 

20-30pt usually seems to work best for me, FW, but after a losing spell when the Dow was going up for no obvious reason, recently I've been so paranoid about minimising losses that I've trailed stops too tightly. Still, the overall result for last week was still a (small) gain, so I should really be pleased!

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20-30pt usually seems to work best for me, FW, but after a losing spell when the Dow was going up for no obvious reason, recently I've been so paranoid about minimising losses that I've trailed stops too tightly. Still, the overall result for last week was still a (small) gain, so I should really be pleased!

 

I can get frustrated myself when a nice trade comes back towards my entry point... remember this week, I was +40 at one point, then it returned towards my entry just after I moved my stop to breakeven.

 

Friday's action in the later half of the day was whippy, but I hope you noticed how 520 was the 'point of control'. I think it you focused on shorting from there, or longing from around 470 there were several opportunities. Anything in the middle was pretty risky imo.

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Friday's action in the later half of the day was whippy, but I hope you noticed how 520 was the 'point of control'. I think it you focused on shorting from there, or longing from around 470 there were several opportunities. Anything in the middle was pretty risky imo.

 

I posted the above three days ago. And still, 520 works as magic!

 

attachment.php?attachmentid=6748&stc=1&d=1211876220

ym_poc520.gif.85381ce9d922e8db4ba7635f41bbcf08.gif

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Nice to see you contributing here.

 

What was your reasoning to scratch the rest?

 

Complete idiotic move. Scratch was due to moving my stop to b/e after taking profits. Should of let my stop loose by a little. Ended up missing most of this. (scalped 1.5pt on the way down)

 

attachment.php?attachmentid=6749&stc=1&d=1211876935

missedmove.png.c82e78bc28d1f4ec635a628bb606b55a.png

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Complete idiotic move. Scratch was due to moving my stop to b/e after taking profits. Should of let my stop loose by a little. Ended up missing most of this. (scalped 1.5pt on the way down)

 

 

I think trading premarket some moves tend to start a bit slower. But it was a nice move indeed... although I believe there's much more weakness to come this week. Do you often take premarket positions? I prefer to trade when there's more volume, but can't deny that there are sweet moves overnight from time to time. Take this short on the YM from +/- 520 for example...

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Yes, I do alot of premaket trading to a point where I cant understand why traders choose not to. Alot of movements occur in the overnight markets and entry is relative easy as price movement is slow. I have found this slower moving ES alot more ideal for me and also I tend to take trades based on how the Asian markets develop.

 

I especially like watching for a sudden increase in overnight volume.... movements tend to follow through for a few pts.

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Yes, I do alot of premaket trading to a point where I cant understand why traders choose not to. Alot of movements occur in the overnight markets and entry is relative easy as price movement is slow. I have found this slower moving ES alot more ideal for me and also I tend to take trades based on how the Asian markets develop.

 

I've found that S/R works just as well overnight, but because of the thin volume, you can easily get nasty spikes on news. In any case, I am now banging my head against the wall for not taking the 520 short :crap:

 

As I'm awake anyway I think I might focus some more on premarket again. Last time around I stopped doing so, because it kept me glued on the screen for too long. Sometimes it can just go sideways for hours and hours...

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Exit 1: 1377.50

 

Stop move to b/e.

 

attachment.php?attachmentid=6746&stc=1&d=1211873188

 

Hi Soultrader,

 

 

 

Pretty awesome charts , can you tell me what platform you are using ?

 

Ian

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Alright guys, here's my game plan for today.

 

MP.png

 

On friday the market rejected the 1385.75 - 1390. Clearly no one wanted to buy up here and selling was initiated. The selling carried on through the initial balance and the market rotated forming new value in the 1374.75 - 1379.25 area on the daily profile.

 

Going into today (27th) If we open below this value area then i'll be looking to get short on a retest with my entry price being 1376.50, and i'll be looking to exit 1369 area of the market.

 

Failing a retest i'll be watching the day unfold as new value areas to trade of are formed on various time frames. Post will be made as in when.

 

Cheers

 

Kev.

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Also forget to mention that the daily profile for friday was a B structure. For those not familiar with market profile, or this concept - a B structure indicates long covering in the market and a P structure indicates short covering in the market.

 

All in all, more reasons to short this market.

 

MP_TY.png

Edited by 86834
attach chart

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Also forget to mention that the daily profile for friday was a B structure. For those not familiar with market profile, or this concept - a B structure indicates long covering in the market and a P structure indicates short covering in the market.

 

All in all, more reasons to short this market.

 

Welcome aboard, I'm definitely not familiar with all of the jargon, but do know some of the concepts. Pre-market 520 showed another nice short, right now I'm looking to see what happens around 470. We also have New Home Sales 30 minutes after the open, so could be some whipsaw going on...

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The "crash" in the price of oil.....down $4 in the last 2 hours...may well lend support today to equities

Edited by Foale

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Going into today (27th) If we open below this value area then i'll be looking to get short on a retest with my entry price being 1376.50, and i'll be looking to exit 1369 area of the market.

 

Failing a retest i'll be watching the day unfold as new value areas to trade of are formed on various time frames. Post will be made as in when.

 

Kev.

 

Did you take that trade then? back to 1380 by the looks of it...

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