Day Trading the E-mini Futures

[goodoboy 10]

you've read the material on waves. If not, ask.

 

 

Do you have the material on waves?

[bakrob99 11]

...so no one here use the RSI , slow stoch, to help show buy/sell signal to lead them into the trade? Just asking.

 

I can only speak for myself but I gave up on those below the chart indicators when I decided to start making money.

[bakrob99 11]

At the very least, consider an exit that is triggered by the market rather than by your fear or impatience.

 

Or a close below a moving average like the 10 SMA (which is very similar to the trendline idea),

[DbPhoenix 42]

Do you have the material on waves?

 

Click here.

 

What the chart shows is that the buying waves are longer than the selling waves. This tells you that buyers are dominant. Until early this morning. At that time, price made a trip to S, at which it rebounded and resumed the uptrend, at least to R. And now the market is ranging again. At some point, traders will look for a new value and we begin again. That's the essence of auction markets.

 

Db

[goodoboy 10]

None of which was part of your plan. Price will not rocket toward your target without pause. If you freak out every time price pauses, you'll squander a lot of opportunities.

 

At the very least, consider an exit that is triggered by the market rather than by your fear or impatience.

 

For example, a simple demand line:

 

 

Look what I missed!! I could got 1 more point out of that trade and most importantly understand why i exit. Thanks for pointing that out. :doh:

 

Just Tuesday, I did the same exact thing, exiting to early. When I reviewed trade later that night, I drew a similar line just like that where price retrace. After I drew the line, I saw I exit right on the line and then price just continued upwards. Its not a good feeling when missed good opportunities, cause they rarely come. Recorded!

[Predictor 11]

My opinion is that this thread works best when it is used to share your real-time analysis of what the market is going to do next. Not what you could have done, should have done, or wished to have done.. nor generally for posting cherry picked past trades.

 

Intraday trading requires maintaining a sense of flow and staying in market centric feedback loops. The analysis, self critic, etc should be saved for post market analysis.

 

By sharing what you are anticipating, what you are looking at, etc then others can do a quick read and may get ideas.

 

I'm going to be busy the next few weeks and plan to cut my posting back. But just trying to share something that may help Just my 2cents.. I think the discussion is good and all but maybe would better for other threads.

[Predictor 11]

My bias is to the downside. My read tells me that longer term traders are selling to shorter term traders... However, not a strong conviction just yet

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Not a lot of activity.. LQ's pulling sell orders from book... try to run some more stops. Shorts pulling back to mid 41's.

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Did you see that? The LQ's pulled out just before the buy program triggered. These patterns aren't always detectable as much as today.

 

That program looks like the last of it... anticipating a run down

Edited August 9, 2012 by Predictor

[goodoboy 10]

I can only speak for myself but I gave up on those below the chart indicators when I decided to start making money.

 

hahahhahahahaah Man, that's the best laugh I had all week. That's really funny.

 

It's funny because when I first started trading the ES back in March, I was thinking to myself all these indicators below the chart is confusing (of course I was watching someone else use them live), so I put them to the side and went to back to only buy and selling on S and R. But after some losses, I recently come back to the lower indicator. However, now I realize, back in March, I know why my results were bad. Had nothing to do with S and R, it was all me.

[goodoboy 10]

I can only speak for myself but I gave up on those below the chart indicators when I decided to start making money.

 

bakrob99, I need another laugh! What about all those head and shoulders, inverted Head and shoulders, evening star, candlestick patterns? Did you let those go too? Just asking.

[Predictor 11]

---

That program looks like the last of it... anticipating a run down

[DbPhoenix 42]

Look what I missed!! I could got 1 more point out of that trade and most importantly understand why i exit. Thanks for pointing that out. :doh:

 

Just Tuesday, I did the same exact thing, exiting to early. When I reviewed trade later that night, I drew a similar line just like that where price retrace. After I drew the line, I saw I exit right on the line and then price just continued upwards. Its not a good feeling when missed good opportunities, cause they rarely come. Recorded!

 

FYI, here's how it worked using S&R, RETs (retracements), and Supply&Demand Lines. The greens are the longs and the red the short.

 

 

Simple, straightforward, and free.

 

Db

[joshdance 10]

Did you see that? The LQ's pulled out just before the buy program triggered. These patterns aren't always detectable as much as today.

 

That program looks like the last of it... anticipating a run down

 

Yes I saw it P, and I agree with you. I am short here from 00.75. But what does the pulling of liquidity really mean for you as you see it here?

[goodoboy 10]

FYI, here's how it worked using S&R, RETs (retracements), and Supply&Demand Lines. The greens are the longs and the red the short.

 

 

Simple, straightforward, and free.

 

Db

 

Thank you kindly, Just what I was looking for more detailed reading.

[Predictor 11]

One of my interpretations is that often there are large firms that day trade the equities. These firms have significant buying power but typically close by EOD. Longer term traders often trade the futures and use the intraday extremes to establish positions using limit orders. It may be that the day trading robots can't hold overnight due to leverage..

 

As for how they knew the buy program would trigger.. I don't know. I can't always detect patterns in the book but today my interpretation was that the LQ providers were the more primary trader and more easily had influence.. less activity overall.

 

Yes I saw it P, and I agree with you. I am short here from 00.75. But what does the pulling of liquidity really mean for you as you see it here?

[joshdance 10]

Well, I exited half at 99.25, and took a BE on the other half. They bought seconds before the close to get their precious token positive day. S&P, up +0.04% ... congrats guys, the sheeple can sleep well tonight.

[bakrob99 11]

Closed right on the Peak Volume Price (VPOC). NQ has closed for 3 days in a row with the VPOC being within a point of 2718.

 

Getting set for a breakout of this range .... MAYBE tomorrow.

[DbPhoenix 42]

Thank you kindly, Just what I was looking for more detailed reading.

 

FYI, these are the S&R and Supply/Demand Lines for tomorrow. All of this may and probably will change by 0900 tomorrow. Or not.

 

Db

 

[goodoboy 10]

FYI, these are the S&R and Supply/Demand Lines for tomorrow. All of this may and probably will change by 0900 tomorrow. Or not.

 

Db

 

 

The links you provide are really good information and its all at TL. Good reading for me in the spare time for understanding. I'm just getting home from some work.

[Lisyara 10]

will dare to post a trade for the sake of criticism of big felas here :missy:

 

Set-up:

 

- trending down (at least during early hours)

- Hit 200 MA at 5 min chart

- Fibo showing retracement to 1394.64

- Entry: short 1 contract 1397

- PT: 1394.75

- SL: 5 ticks

[TheNegotiator 13]

will dare to post a trade for the sake of criticism of big felas here :missy:

 

Set-up:

 

- trending down (at least during early hours)

- Hit 200 MA at 5 min chart

- Fibo showing retracement to 1394.64

- Entry: short 1 contract 1397

- PT: 1394.75

- SL: 5 ticks

 

Not to criticise too much so i'll only point out one thing. Your target is 2 ticks below yesterday's rth low and 1 tick below the overnight vpoc. Frequently, we see this of pattern where s/r breaks, price reverses back through, then same s/r holds on the retest (kind of h/s pattern although I don't like naming things as such).

[bakrob99 11]

...As for how they knew the buy program would trigger..

 

 

I once did a week long test with a firm specializing in program trading. The salesman was trying to get me to sign up - and I was telling him that I followed the program trading - but that I didn't see how I could incorporate it into my trading decisions.

 

A little while later - I mentioned that as I was long and th emarket was not going anywhere I said to him - "It would be great to have a program buy hit about now". He said " Just a minute, I"ll be right back" , and then about 15 seconds later a big buy program hit.

 

He came back and said " How was that?". Then I heard some discussion in the background - and he later admitted to me that his boss was angry and told him not to do that again.

 

I said "Look - don't do anything for me that your not supposed to".. but I thought - what in the world is going on here and how does this thing work?

 

It's a murky world - the program trading. For the most part it pushes the market in the same direction I am trading. The ones that bug me are when they hit with a buy program and then follow up with a sell program and you don't know whether to get out or stay in or whatever.

[TheNegotiator 13]

This would be my thinking anyway:-

 

 

[TheNegotiator 13]

You may get it now by the looks of things. But, if the 95.25 area cannot hold, it's more than possible that it'll slide lower.

[bakrob99 11]

will dare to post a trade for the sake of criticism of big felas here :missy:

 

Set-up:

 

- trending down (at least during early hours)

- Hit 200 MA at 5 min chart

- Fibo showing retracement to 1394.64

- Entry: short 1 contract 1397

- PT: 1394.75

- SL: 5 ticks

 

 

I think we're going considerably lower. I'd like to see 1392 get tested and if we get thru the support in that zone we've got 1378.75 zone for later in the day.

 

I am still keeping in mind the historical observation that the market often puts in a low on the Thurs or Friday before OEX week, then rallies into it.

[bakrob99 11]

Mr Negotiator,

 

Can you tell me when you decide to change your Composite charts - order under what conditions. The last set of CLVN's and CHVN's are starting to make me keep track of them again. My own work generating these profiles using my own developed indicator had mixed results but the values on your recent charts have been very indicative of inflection points that actually work.

 

I understand that you use IRT to generate these babies. Does the program do so automatically?

 

(As an aside I once did a demo of IRT but didn't like the user interface - I may have to revisit it.)