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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
Should add that the VPOC target of 68 is actually more because it's last WEEK'S VPOC -- MWF last week had about the same price, and it's the mode of this entire upper distribution which goes from 60 or so to 77. And, it's right at the Sunday open just before the move down overnight.

 

EDIT: just now (3:17) added 1 @ 63.25, seems like a logical add point. But, will reduce it at 62.00 if it retraces further.

 

Well we didn't get there today, but I'll leave this open with stop at BE and see if 68 can get reached afterhours.

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roztom    10

roztom
Posted
Stopped at BE a little earlier at 61.75... still it was profitable, but the market not strong enough to get to high 60s without auctioning lower..

 

Looking at it this morning there's the 52.00 I was looking for yesterday... one day early and a dollar short... :angry:

 

Hope you all have a good day

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roztom    10

roztom
Posted (edited)

I did take a long aginst the 52.00 area for a scalp... targeting 55.00 on a rotation...

 

So..now... is the play to close the gap? Next CLVN under is 47.75 ish... and CHVN 49.25ish...

 

 

edit: Got to 54.75..GRRR..bailed bought me coffee...

 

:missy:

Edited by roztom

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TheNegotiator    13

TheNegotiator
Posted (edited)

Today, ES is telling me that it wants to test the area just above 50 for a better gauge of trend strength. The past 3 days we have made lower highs(within that wide 2/29 bar) and lower value too. I discuss a little in this thread:-

 

Time for a Top in ES?

 

Currently we are still in the 11-day balance. Anyway, here's a chart:-

 

attachment.php?attachmentid=27773&stc=1&d=1331056305

2012-03-06_4.thumb.jpg.2a672fed725090dcfc92d5a59d68021d.jpg

Edited by TheNegotiator

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roztom    10

roztom
Posted

Looks like most of this was stolen overnight..so now??? Continuation trades on rotations..?

 

I am going to be waiting to see if we get responsive buying down here after they carry a few carcasses out... Got to watch the afternoon for a potential rotation/Neutral Day but anything can happen.. possible squaring up in front of tomorrows reports... :2c:

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joshdance    10

joshdance
Posted
possible squaring up in front of tomorrows reports... :2c:

 

or NFP on Friday -- ADP tomorrow has been way off the actual NFP number the last few months. NFP is what took this market above 1330, and the market may be returning to the scene of the crime.

 

FWIW, we were 65% greater globex volume, but so far only 33% greater RTH volume. Median globex volume over 20 days is 297K, with a median range of 9.00 (with RTH being 9.25).

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TheNegotiator    13

TheNegotiator
Posted

My own fault I guess, but on the other hand there is a bit of a wrestling match going on here. I ended up shorting 48.75 with a view to looking for 44.50 and 43.50 initially. I got out at 46.75 as it looked like it had turned. I should probably have held unless 48 was taken out, but hey. It reversed from the VWAP again and hit (less a tick) the 27.2% gap extension. Meh.:doh:

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roztom    10

roztom
Posted
My own fault I guess, but on the other hand there is a bit of a wrestling match going on here. I ended up shorting 48.75 with a view to looking for 44.50 and 43.50 initially. I got out at 46.75 as it looked like it had turned. I should probably have held unless 48 was taken out, but hey. It reversed from the VWAP again and hit (less a tick) the 27.2% gap extension. Meh.:doh:

 

Nice Short...I started short @ 47.00 & also dumped it..then resold @ 45.75... all together then I traded around rotations all the way down...

 

This Globex rally is suprising.. looks like we got our squaring up in front of the report right after RTH close... Dem Bums...

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joshdance    10

joshdance
Posted
Anyone going to be trading today? Could be quite an interesting session.

 

Yes -- from what I read, we won't know for sure an official status on the debt swap situation until tomorrow though, so I don't know if the afternoon deadline will mean much today, unless of course we get headlines, which of course I would not be surprised at..

 

I'm rolled over to ESM, and backfilled, and hate rollover days because the volume numbers are a bit more unfamiliar for me to read, whether I'm on the old or front month.

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TheNegotiator    13

TheNegotiator
Posted

It can become a little unsettling but I think if you are just a bit more selective then there are still opportunities. I don't love roll days myself in fairness. I think if it does move I'll trade it today, but if the debt swap thing puts a dampener on things, I'll not bother.

 

On a different note, Apple's new ipad hasn't been well distinguished with its new name has it? Not "ipad 3", not "ipad hd", but "the new ipad". Poor SJ, he must be grinding his teeth somewhere.

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joshdance    10

joshdance
Posted
It can become a little unsettling but I think if you are just a bit more selective then there are still opportunities. I don't love roll days myself in fairness. I think if it does move I'll trade it today, but if the debt swap thing puts a dampener on things, I'll not bother.

 

On a different note, Apple's new ipad hasn't been well distinguished with its new name has it? Not "ipad 3", not "ipad hd", but "the new ipad". Poor SJ, he must be grinding his teeth somewhere.

 

Yikes.. "the new iPad" ... though, it looks cool, and finally has LTE .. I guess we know that "the new iPhone" or whatever it will be called will almost certainly have it, finally.

 

Time will be 0600 GMT (1am EST) for final word on debt swap.

 

On another note, rollover days are a reason I don't put a lot of faith in a long term profile for a futures contract. IQFeed started their new contract today, but most of the volume even now is still trading on the H contract; so in the continuous contract you will have a lot of market activity from today that will never be shown. A question: why not use SPY for a long term profile? It doesn't roll over (unlike ES), and has volume information available for profiling (unlike SPX).

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TheNegotiator    13

TheNegotiator
Posted
On another note, rollover days are a reason I don't put a lot of faith in a long term profile for a futures contract. IQFeed started their new contract today, but most of the volume even now is still trading on the H contract; so in the continuous contract you will have a lot of market activity from today that will never be shown. A question: why not use SPY for a long term profile? It doesn't roll over (unlike ES), and has volume information available for profiling (unlike SPX).

 

True, but it's not the instrument itself. I don't think the way data is rolled is ideal, but it is what it is. I think it is useful still though.

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roztom    10

roztom
Posted

I get unsettled with rollover days also... since the volume doesn't come in until the day gets going and I don't trust the Globex Volume, etc... I I still do read the charts, the old fashioed way and am long and sitting as we float up... I have a NVPOC ESM @ 62.50 and a CHVN 62.25...have no clue what to think about it but that is my target for this trade... a few ticks before...

 

Hope you all are having a good day...

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roztom    10

roztom
Posted

Holy Guacamole.. We hit 62.50 and I got my fill at 61.75,,,

 

As they say - "Even a blind Squirrel falls over a chestnut once in a while." :rofl:

 

It's nice when it all works like a clock... I also added on rotations so built a nice position.. there was a VP LVN @ 57.25 and IBH there so I added there... took no heat...

 

Still working on varibale timeframe strategies... manually doing numbers - :crap:

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roztom    10

roztom
Posted

I got long this morning ater we tested yesterdays close and scaled just over GBX high & before 68.75 close ..

 

Holding last runner... Not sure if done for day or we will see more buying... (If you know will you PLEASE tell me... :doh:

 

SO far "F" period is good RE and Low VOlume area sitting @ 64.75... + Current Mid-point as of 9:49 cst...

 

I am going to be looking to add on rotations assuming everything stays glued together...

 

Good Trading...

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TheNegotiator    13

TheNegotiator
Posted
I got long this morning ater we tested yesterdays close and scaled just over GBX high & before 68.75 close ..

 

Holding last runner... Not sure if done for day or we will see more buying... (If you know will you PLEASE tell me... :doh:

 

SO far "F" period is good RE and Low VOlume area sitting @ 64.75... + Current Mid-point as of 9:49 cst...

 

I am going to be looking to add on rotations assuming everything stays glued together...

 

Good Trading...

 

I took the 68.50's short for a move to IBH and mid/high vol at 65. It did the IBH. It's not looking too great for the mid at the moment although I've not given up on the position just yet.

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roztom    10

roztom
Posted
I took the 68.50's short for a move to IBH and mid/high vol at 65. It did the IBH. It's not looking too great for the mid at the moment although I've not given up on the position just yet.

 

I certainly see where you are coming from on this one... I wrestled with exiting everything at the 68.75 area... but...... I am holding .. I can never tell how much rotation we will get, however IMHO your thinking is sound at those areas... same reason I'm looking for rotation to pick up a continuation trade down below..

 

We are aligned... helmet on...

 

Good Trading...

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