Day Trading the E-mini Futures

[onesmith 10]

Steve46, can I become a client? How much would it cost? Considering I'm calling you out, what if a friend not associated with me, maybe not even on this forum, ...sends a private message .. can they become your client, and buy this info you've been telling us is no longer forsale?

 

Moderator, this vendor continualy violates the terms of use and promotes herself via references to her class, .... her students ... her clients. Lately she says she has nothing forsale and she's not a vendor. Is she marked as a vendor by mistake?

 

Unfortunately I am limited in what I can say about the report...(I am working with clients on this)...I can show my pre-position screen.

 

Good luck today folks

[steve46 12]

Negotiator

 

I am going to leave this bit of cleanup to your judgement....Mark suggests I ignore him/her. Lets give that a try...

 

Best to all

Steve

Edited February 5, 2012 by steve46

[clmacdougall 11]

Steve46, can I become a client? How much would it cost? Considering I'm calling you out, what if a friend not associated with me, maybe not even on this forum, ...sends a private message .. can they become your client, and buy this info you've been telling us is no longer forsale?

 

Moderator, this vendor continualy violates the terms of use and promotes herself via references to her class, .... her students ... her clients. Lately she says she has nothing forsale and she's not a vendor. Is she marked as a vendor by mistake?

 

Hi onesmith,

 

Please read the thread "Vendors Vendors Vendors" in it we developed a new structure of identifying but not necessarily judging a vendor. Steve46 is fully within the guidelines of the owner/moderators rules.

At the same time I understand your frustration of watching someone post a chart and not explain its dynamics but such is the game of forums. You never know the true intent of the poster and have no choice but to take him/her at their word and ignore their posts if you should so choose.

All the best, Cory

[onesmith 10]

Paragraph 5 of the forum guidelines prohibit anyone associated with a vendor from any and all mention of their product or service.

I understand others might be frustrated but it's just numbers to me.

 

If the guidelines need to be updated then that event, if it occurs, could present an opportunity for additional tests

 

... but in the meantime this vendor (steve46) is non-compliant ...

[TheNegotiator 13]

If someone who sells things has nothing to add to a discussion yet they persist in soliciting for business, that's not good. I include in the nothing to add category, elluding to things without ever explaining them. A business needs to make money by charging for services however, It is my opinion that giving some useful information actually demonstrates the quality of the service.

 

So it's my opinion that a vendor so long as they are useful to readers and aren't pushing themselves/their services overtly, is an asset. However, I would also point out that in this thread, I do continually push people to explain themselves and their approach so that the use is clear.

 

As of this time, most posters have been useful to the thread and to the readers of it I would hope. If that changes, I will decide whether or not to act on it.

 

So let's turn our attention back to what is really important- "Day Trading the E-mini Futures" (and by the way any other futures which are interrelated).

[clmacdougall 11]

Paragraph 5 of the forum guidelines prohibit anyone associated with a vendor from any and all mention of their product or service.

I understand others might be frustrated but it's just numbers to me.

 

If the guidelines need to be updated then that event, if it occurs, could present an opportunity for additional tests

 

... but in the meantime this vendor (steve46) is non-compliant ...

 

With all due respect, I don't think the owner/owners care much about that anymore. The website changed hands not too long ago and the new owner is much more lenient than the previous owner. If it bothers you then just ignore his posts, other than that nothing is going to change.

[TheNegotiator 13]

Notice:

 

This is a thread to discuss trading. Going forward, should anyone wish to discuss any other topic other than trading then there are other threads in the forums which are appropriate for doing so.

 

Thank you.

[steve46 12]

Here's another Globex entry for those interested in the overnight market......Based on experience I don't take trades during the game, but after....I have found that my system works just fine...

 

Here we have a chart showing a test of previous day's (Friday) low at 1333.25....because the test occurred at a demand node, its a valid setup....

 

Since there are no significant US economic reports scheduled for tomorrow I will stay with this one as long as possible....

 

This evening we have Sentix at 1:30am and German Factory Orders at 3am....if we get some breathing room on this and the German report is favorable, this one could run......if it doesn't give me a reason to stay with it, I will exit at 3:30 and try to get some sleep prior to the US open

 

I will take partial profit at 3 points.

 

Good luck everyone

Edited February 6, 2012 by steve46

[steve46 12]

and this one looks to be a loser.....ah well that happens

 

here is the chart...I am still in it but it does not look good at the moment.

[CYP 10]

and this one looks to be a loser.....ah well that happens

 

here is the chart...I am still in it but it does not look good at the moment.

 

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

[steve46 12]

Hello

 

Yes I did take partial profit, but I got filled at 2.75 instead of 3....and my stop was hit...

 

thanks for your question..

[roztom 10]

Monday Pre-RTH 2.6.12

 

Friday closed higher after the NFP Report and based on the shape of the MP/VP it was mostly short covering - this is based on the shape of the profile and also that it was fat/wide. This fatness indicates that we auctioned higher but then stalled out and just churned. However we did breakout of balance...

 

GLobex is trading lower possibly related to the Greek news - blah, blah..

 

What is one potential scenario we can expect out of several?

 

Lower open..flush late longs...new shorts which is fuel for the next leg up.. (Market needs fuel)

 

Some key nodes IMHO.. CLVN: 1331.00, CLVN 1336.50.. Fridays Close, etc... Gap below...etc, etc... NVPOC 1339.25...etc, etc... NVPOC 1322.75 below

 

Just one of several potential scenarios..

 

Have you prepared mentally for the potential scenarios?

 

Do you know where the critical areas are that the market needs to test?

 

How will the retail trader potentially lose? Where?

 

Just some questions I ask myself... The market gets all parties involved. After all it is an auction and the market usually tests key areas before moving on or failing...

 

Good trading.

 

Regards,

 

Tom

Edited February 6, 2012 by roztom

[TheNegotiator 13]

Possibly looking for a gap close/vpoc test I would think.

[TheNegotiator 13]

Although th 38.50s are the CST afternoon low.

[roztom 10]

Update: Since I said I would post losers here we go:

 

1. I sold initially Sold @ 1335.00 Against Fri OR/Open..late as usual looking for a test of Fridays Low/Stops.. Did not get there.. 1333.75 low...MFE +1.25 NO Scales Scratched..

 

2. Sold against CLVN @ 1336.50 1334.50 MFE 2pts Got 1 scale.. Stopped on Balance avg loss 1.25pts.

3. Currently Long: 1337.00..

 

Why... ?

 

1. Yesterdays Low initially tested... Buyers Aggressive..didn't even get easy stops (so far)

2. Once CLVN @ 1336.50 breached and tested from upside potential for test of Fri High/CLose/CHVN 1348.50 & CHVN 1352.50... just areas of interest.

 

SO what is key so far as this develops?

CLVN: 1336.50 + Midpoint & Open/OR etc...

 

Do not follow any of these since I actively manage these and will not be posting unless I have a break.. after the fact... on these... I just want to share with how I read the market.. Some days I read it well and others I don't... This could always be one I don't..

 

Is it NOT about Right/Wrong/Win/Lose.. it is about forming a hypothesis and paying the price of admission to find out if you're right. Got to let go of the WIn thing

- GOT TO DO The Execute/Discipline Thing - just 2 cts...

 

Regards,

 

Tom

[TheNegotiator 13]

While we contemplate whether or not highs/lows have been put in, I thought I'd post a little chart.

 

Since the beginning of the year, by my reckoning we are on our 4th short term balance breakout. I mean very short term and I've highlighted what I am suggesting is balance in the image. Each time, the day after the break has varying lows compared to the breakout day itself. The max at -7.50 easily puts the 1331.00 or 1329.75 prices in range. Interestingly though, each progressive post break LOD is smaller. 3 data points hardly means a thing, but it's interesting nonetheless.

 

[roztom 10]

While we contemplate whether or not highs/lows have been put in, I thought I'd post a little chart.

 

Since the beginning of the year, by my reckoning we are on our 4th short term balance breakout. I mean very short term and I've highlighted what I am suggesting is balance in the image. Each time, the day after the break has varying lows compared to the breakout day itself. The max at -7.50 easily puts the 1331.00 or 1329.75 prices in range. Interestingly though, each progressive post break LOD is smaller. 3 data points hardly means a thing, but it's interesting nonetheless.

 

 

N: I have a CLVN 1331.00 which was a target I was looking for on my early shorts also GLobex low 1330.25 held there so that was my area of interest to downside... It doesn't mean I won't get interested there again..

 

Tom

[TheNegotiator 13]

Yeah. Below is probably (27.00) 1322.50. Perhaps it could get there, but we'd have to look at the implications if it did and then what it did subsequently. I kind of get the feeling the current high might be pushed at some point, only to move back down, although we are testing lower right now(albeit in a 4.75 RTH range).

[roztom 10]

Does anyone want to "speculate" where we are headed next?

 

With the test of yesterdays low and the fact it held brought in buyers... the market is now fairly long.. what is the path of least resistance? Up/Down...?

 

Is the Low of Day more vulnerable now than earlier or will it continue higher and not test that low?

 

I am just trying to get aligned with it.. that is what I do. I'm not overly concerned with getting nicked..just part of the cost of participation...

 

What do you think is next?

 

Tom

[joshdance 10]

What do you think is next?

 

We are 30% lower than 20 day median volume as of 11:03am EST, in a 4.75 RTH range for 1.5 hours, and are sitting very comfortably within yesterday's range, not eager at the moment to push either side of its range. Anything can be next here. If I have an opinion, I am slightly long biased as delta is long for the day, and we are in a bull market for several months and for this year. However, with what's going on right now, best for me to be flat here.

[TheNegotiator 13]

Things should be put into perspective and that's what we are always trying to do as traders. As much as the market has tried to move up, as Josh noted vol is low so is range. It's Monday directly after the break from Friday. Most of the trading so far has been below most of the volume traded on Friday. I still would like to see test of 1339.25/.50 and then see what happens.

[TheNegotiator 13]

FX is having a go at the moment.................

[roztom 10]

Agree with everyone on this... After all this is "speculation" right? :missy:

 

I scaled my 1337.00 @ 38.75..my 2 tics before CLose/NVPOC to reduce my risk.. and now will wait & see what kind of rotation we get... I will also scalp around my position depending on how it develops to reduce my average price..not recommending anybody do this..sometimes I can get my head slammed in the oven... just something I have done successfully more often than not...

 

As Josh pointed out, Volume is light...which means current prices might be fair or even too rich.. which opens up a flush to the downside for the stops as posted earlier...just possibilites..

 

Tom

[joshdance 10]

Well we got our gap fill (39, friday's settlement), but NQ seems unwilling to leave its overnight range so far, and the dow doesn't seem too happy to do so either. At 10:47am we got a nice surge of buying and good TICK reading, just at the open, after a lazy pullback, so that was a reasonable long opportunity, but of course aren't they all in hindsight.

 

EDIT: on a side note, I see that Bernanke testifies tomorrow, and speaks on Friday. Truly, what can he say that he has not already said? I don't mind the news creating movement, but it's just kind of silly.

Edited February 6, 2012 by joshdance

[roztom 10]

Well we got our gap fill (39, friday's settlement), but NQ seems unwilling to leave its overnight range so far, and the dow doesn't seem too happy to do so either. At 10:47am we got a nice surge of buying and good TICK reading, just at the open, after a lazy pullback, so that was a reasonable long opportunity, but of course aren't they all in hindsight.

 

LOL.. that's the problem..I'd like to trade in hindsight... P&L would be much better...

 

Regards,

 

Tom