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TheNegotiator

Day Trading the E-mini Futures

By TheNegotiator, in E-mini Futures

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joshdance    10

joshdance
Posted

Pretty clear prices for me today:

1408, 1402, 1394, 1387

 

In terms of performance yesterday, it was a good day, however, due to my short position, I was sidetracked from my primary objective:

 

Similar to you here Tom -- buy zone is 86-88, next is 77

 

Sell area 95-97

 

It was a perfect area to buy, it turns out, but the short position and honestly the market behavior led me to consider 1383 as too likely a possibility to buy 87 outright. I did cover in this range, which was good, but I very easily could have opened a long position there as well, which I did not, but it was my original plan.

 

So today I will stick with my current numbers, and do my best to execute within that framework, and try to not let any positions I may have affect that plan, though I certainly will let market behavior change it if necessary.

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roztom    10

roztom
Posted
btw Tom, very nice long yesterday, and good call on the 1400 N.

 

Thank.. the 1400 was N's..though when things get going it looks like a long ways off.. I bailed at the "easy" targets... 93, 95.00...While 1400 was a possibility that is a reach for me, especially I only had 2/3 of my line out... so I scale out based on 1/3 each, if only 2/3 position then I take the closest targets along the way... I was confident in the 95 area but after that ACH.. :confused:

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TheNegotiator    13

TheNegotiator
Posted

I agree with those levels Josh.

 

Here's a chart:-

 

attachment.php?attachmentid=28250&stc=1&d=1333113483

 

1401.75 is the open for the week. Would have been important in my book either way though. If bulls are to remain in the driving seat, I'd think it shouldn't remain below if breach at all the 1401.75.

2012-03-30.thumb.jpg.4812ab91cb2e43d3563f85b853a85ef6.jpg

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roztom    10

roztom
Posted

Btw, I am going to be loooking at the long side BUT my "Unconscious Incompetent" :crap:

 

sensed yesterday that the buying was not urgent and there was no deceisive rejection off the lows so I "think" we just may settle into a bracket up here - clueless of course... :2c:

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joshdance    10

joshdance
Posted (edited)

took a sim short a moment ago at 02.50, don't like the location so much so simming this one.. targets 98 and 95

 

edit: and closed this BE ... 10:07

Edited by joshdance

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roztom    10

roztom
Posted

Whirling Dervish: Went Short 2X : Bail once, reshorted ticked target 1400.50, ahead of open close 1400.00 GRR covered for small profit, long 1402.00 perplexed... :crap:

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joshdance    10

joshdance
Posted

Well this is for sure: the area previously rejected , 01.75 and +/- 3 ticks, is now being more accepted. That foreshadows lower prices I feel -- as it has felt bearish since the open.

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roztom    10

roztom
Posted
Whirling Dervish: Went Short 2X : Bail once, reshorted ticked target 1400.50, ahead of open close 1400.00 GRR covered for small profit, long 1402.00 perplexed... :crap:

 

What can I say... :angry:

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roztom    10

roztom
Posted (edited)
IBL is your mark then...

 

1400.000 high of F period ahead of lvn

 

My trade location is not the best... but...got to do what you got to do...

 

My unconscious incompetent from this morning was right on the short as posted...my conscious incompetent went long after the 2 short attempts.... :crap:

 

BTW, this is a stand in front of the train trade... I did have a number to watch 1395.50 just under the current LOD so I leaned on it..I just was slow to pull the trigger..:doh:

 

I am following my "theory of rotation" to the easy paper...we'll see... of course underr these conditions I would be looking for a "go with" continuation trade but since my potential objective was hit for my short then it is time to try to catch the sword...

 

These are NOt my favorite trade but they can also be the most profitable..Everything is commensurate with the risk... We will find out how aggressive the sellers are... or if they are done for now & we will get upward rotation towards the paper... :2c:

Edited by roztom

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roztom    10

roztom
Posted
Don't you mean unconscious competence?

 

Yes...TX... :doh: My read of yesterday was on the money...no chart can tell you that the hint was that it looked lioke short cobvering and it was not swift..no urgency..also the LOD yesterday showed no extreme...all signs to be short...

 

Now, of course I'm long... :crap:

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roztom    10

roztom
Posted (edited)

/i took a 2/3 scale there because it was "high probability" now we have to see if we will rotate down - a possibility or continue up...I have no clue except I have a free trade to find out... One of the things I look for when I put my line out is either where the obstacles are or better where are the stops... since it was always "my stop" getting taken I learned to think from the other side..whhere will their stops get taken...that is where I shoot to lay off some risk and try to get reick neutral for a trade like I am now.. My next possible target 1402.75, more stops, then there is HOD & 1408.50, etc... I scale more aggressively so I will be out of bullets before the 1408 but if I see structure going up and Delta supporting it then I would take continuation trades from the long side but right now this is a "counter-trend" trade in the daytime frame... Interesting..The Daily Trend is UP, the Interday trend is down and we have to determine who will ultimately control it today...

 

I am clueless... :helloooo:

 

Edit: My technicals have caught up with my position so I am going to spread out m,y last 1/3 and shoot for HOD& 1408.00 no clue...my strength is "I know I don't know" with all due respect to my "conscious incompetent."

Edited by roztom

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roztom    10

roztom
Posted

Took my next partial sc 1402.75, decision now is to go for HOd or 1408.75..there is more paper up there... It is also possible to pull back before (?) if so and weegie board aligns I will look to rebuild a partial position..of course the trade location would be gone.. I don't know how many other traders look at it like I do.. I'm sure many do - I just haven't heard anyone discuss it from the paper angle but it is completely aligned with auction theory, IMHO..

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