Emini S&P 500 Short Term Trading

[joshdance 10]

it is the pre-Google effect

 

What is the "pre-Google effect" Tams?

[Tams 20]

it is the pre-Google effect

 

What is the "pre-Google effect" Tams?

 

Google announcing its earnings after the market today.

Today's run up from the low is in anticipation of the report.

Is that a gospel?

Hell no... it is just market talk.

The market often behave erratically during earnings week...

if the market was trending down in the morning, it can whip around in the afternoon for no good reasons.

It is a dart's throw for all I know.

[MightyMouse 12]

Buying 1314 with a buy stop

[MightyMouse 12]

So, filled.

 

Stop is as low as 1298, but not lower. As things change, on the way up or down, I may move the stop up.

 

My long run average is about 30-35%. So, I enter every trade understanding that there is a good chance that I am going to lose.

 

I am trading 2 contracts and will be trading 2 contracts to open from here on in unless I get a large winner in which case, depending on how big the win is, I will start the next trade with more than 2 contracts. As I indicated earlier in the post, my first trade was larger than normal because it made after a good day of trading oil. That trade I started with 3.

 

I am not going to post a "score". I am not trying to prove how good I am; instead, I do want to show newer traders that you can make good decisions and lame brain decisions and still pull money from the market.

 

MM

[MightyMouse 12]

I smell something? Anyone smell shorts being burned?

 

My stop is moved to 1300 .25

[MightyMouse 12]

ES appears to be very oversold and working its way back to the highs. Probably the hope bias at work again.

[MightyMouse 12]

In the name of humility and all things virtuous, we must thank the shorts, who feel the need to provide liquidity.

 

My stop is moved to 1302.75 and may be moved higher as the day develops.

Edited April 15, 2011 by MightyMouse

[MightyMouse 12]

Stop is inched up to 1303.25

[MightyMouse 12]

Looks like a nice amount of volume is coming in on the upside. Not a great amount, but a nice amount. May not be enough to push through all the overhead activity from a few days ago. Very good chance of a Friday afternoon mean regression type move. I certainly do not know and will give it all the room it needs for the time being. Stop is currrently 1303.25.

[MightyMouse 12]

Nothing to do but wait. A positive close on this trade will make me feel better for tonight and tomorrow, but it doesn't really say much for Sunday's open.

 

A pop through the high right now would really pep me up a bit

 

A lot of volume came in as expected and it looks like a strong move is developing.

 

Ultimately, I know nothing but will ride it until it makes no more sense for me to ride it.

[MightyMouse 12]

The direction within the time and space I am trading is still up so I only want to take longs until the direction turns down. When I detect a great deal of risk to my direction, I exit and get back in at a higher or lower price. If I don't detect added risk, I stay until there is a directional change. At this point my stop is at that point which is 1303.25. That is the basic strategy until I get to add to the position.

 

I am hoping that we have enough current and future demand to slingshot out of the top of this range. Above this range I will begin adding contracts to the position, provided the direction remains up.

 

Es looks weak on the weekly and daily timeframes. Arguably, it always looks weak when it is trying to break out of a range and then either strengthens or fades as it surpasses the boundaries of the range. It does look strong in the timeframe I trade and a positive Sunday open would be a welcome reinforcement.

[erierambler 10]

Nice thread MM.....

 

erie

[MightyMouse 12]

reversed at 1303.25. computer is slow.

 

Stop is 1314.75

Edited April 18, 2011 by MightyMouse

[MightyMouse 12]

I will get chopped up if we don't break from this friggin range.

 

If we do break down, I plan to add at 1279

[MightyMouse 12]

Current conditions are such that if we do not go lower than 98.75, i will exit at 1307

 

ditto with 1305.75

[MightyMouse 12]

this too fast to record. hard stop is at 1311.5 now, possibly exit at 1303.75 if we do not go lower than 95.5

[MightyMouse 12]

At 1287.25, my stop goes to BE and the trade can only be a winner or a breakeven trade at that point. Right or wrong, that is how manage risk.

Hard Stop is at 1309.25. Hopefully, a move will occur here.

 

If conditions remain the same, i will exit at 1301.5

[MightyMouse 12]

Hard stop at 1307.25.

If conditions continue as they are, I will exit early at 1299.5.

[MightyMouse 12]

Not exitting at 99.5

[MightyMouse 12]

Hopefully, the heavy stuff starts to come in here after lunch.

Loots like there was a lot of bottom fishing They buyers could certainly win.

 

Stop is still at 1306.25

[MightyMouse 12]

if we do not go below 90.25, i am out at 98.5

[MightyMouse 12]

Doubtful i will survive being stopped out. If I do get taken out at 98.5, i'll try to get back in at a lower price if we stay below 1306.

[MightyMouse 12]

Shorting 1294.00 when it gets there.

Last trade was a small gain, but categorically a dud.

[MightyMouse 12]

moving the stop entry for the short up to 1295.5

[MightyMouse 12]

US treasuries become riskier and the tnotes and tbonds rally. Go figure.

 

I am still shorting this when it hits 1295.5