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It will be interesting to see what happens here at 1400s ... in the order flow I see no reason yet (as of 11:06am EDT) to think the bulls are getting tired of buying these dips and then paying up.

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Just wanted to post a loss I just took, for learning purposes.

 

I was looking to buy 96s, and 96 tested to the tick after news. Moved up, but on weak volume, not very convincing. Pushed lower by 2 ticks, and while it was not much and volume support was there (bullish), the move back up above 96 did not look convincing to me. I shorted 97.00, and took a loss at 98.75 ... I'm a little pissed because my plan was to buy 96s, but I just didn't see the buying support I wanted, so I suppose the right course would have been to simply wait, not take a trade counter to my original intention. Just putting that out there.

 

Thanks...what makes this thread special is there is no fairy dust here..this is the real world of trading... Appreciate your candor..

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had a lovely $450 conversation this morning with Esignal's tech support staff, who informed me that although I had the correct symbol entered, for reasons unknown to them, the continouous contract (for the DAX) did not roll over.....and would I please (for "now") use the current front month...

 

This happens from time to time with Esignal, and I am wondering if any of you use the DAX feed with IRT? If so what is your experience....

 

Although I can get by without that data (I use it to confirm my ES entries), it sure makes my job easy when it is available.

 

Thanks

Steve

 

As a post script to my comment here is a chart showing the DAX providing a leading indication of a failure short at 99.50.....used to use IRT but my experience was not good....that was a while back....I would prefer not to change but I will consider it if this situation continues.

Thanks for the comment Josh

5aa710dce2e83_Failureshortat99_50.thumb.PNG.9745e9919d4c86b7bd93a1f0edef74e6.PNG

Edited by steve46

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Just wanted to post a loss I just took, for learning purposes.

 

I was looking to buy 96s, and 96 tested to the tick after news. Moved up, but on weak volume, not very convincing. Pushed lower by 2 ticks, and while it was not much and volume support was there (bullish), the move back up above 96 did not look convincing to me. I shorted 97.00, and took a loss at 98.75 ... I'm a little pissed because my plan was to buy 96s, but I just didn't see the buying support I wanted, so I suppose the right course would have been to simply wait, not take a trade counter to my original intention. Just putting that out there.

 

BTW Josh: I had the closing swing low at 95.00 also which is support and a low @ 94.50..that was my area to get long... but Mr. Market had other plans...

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Though the order flow was long, 99.75 seemed to really cut off the buying, and I am short 99.25 ... TICK started trending down up here, and maybe another tick to 1400.00 was a bit too obvious to actually do it? My target is 93, see yesterday's profile/vwap.

 

I could be dead wrong and this market may just keep buying up, but that's where I'm at.

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This happens from time to time with Esignal, and I am wondering if any of you use the DAX feed with IRT? If so what is your experience....

 

I do not steve, but most of us use IQFeed from DTN (IRT is just the program). They offer a free trial I am pretty sure, and after fee waivers it is less than $100 a month and quite good.

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Though the order flow was long, 99.75 seemed to really cut off the buying, and I am short 99.25 ... TICK started trending down up here, and maybe another tick to 1400.00 was a bit too obvious to actually do it? My target is 93, see yesterday's profile/vwap.

 

I could be dead wrong and this market may just keep buying up, but that's where I'm at.

 

Added 1 here at 98, and will look to scale one out at 96 .. but buyers still quite active on the bid, and even the offer the last few minutes, so we will just see...

 

 

So question now is are we going to bring in some more sellers or has that just flushed out some weaker longs? OTF not active by the looks of things.

 

That's just the question isn't it N ... you mentioned the interesting volume at the open ... quite heavy selling... could that be filling orders at what one who wants to be short would consider the best price of the day? (99-00)... possible that we have seen the high? We will have to wait and see!

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Yeah definitely. I think given the fact it's opex, I wouldn't say either way for definite. I'm not an options guy, but my thinking would be that short calls would be in trouble much above 1400. Although there might also be some delta hedging of long calls near to 1400. Would be useful if there's any options expert around to pitch in :)

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Josh, are you on rc3? My MP's are all messed up VA & POC.

 

I am still on c2 N ... if you post a pic of your profile for today I can compare it with mine.. currently my ETH profile shows 99.50 as the VPOC and the VAH, but my RTH has 98.50 as VPOC and 99.50 as VAH

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Times like this, I ask myself what the best course is. Only in hindsight will I know for sure. Until it breaks 1400s will it really break free of this balance, so for now this location, 99.50 to 00, is actually technically, for me, an ideal short opportunity. I am short at 98.75 still.

 

But location isn't much, if the direction is wrong. Delta tells me sellers are present. However, the market could not break back into yesterday's range. I wouldn't BUY here though, so why would I buy to cover my short? The market is rather neutral, but after finding demand below 96, the overall picture has looked pretty bullish. What do you all think about the picture?

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I am still on c2 N ... if you post a pic of your profile for today I can compare it with mine.. currently my ETH profile shows 99.50 as the VPOC and the VAH, but my RTH has 98.50 as VPOC and 99.50 as VAH

 

I was looking at a market profile chart not a volume profile and RTH- if you have one.

 

What do you all think about the picture?

 

I think this thing is wasting my time so I'm off to do a few other things!

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True COnfessions: I messed up my exit.. I had written 99.50 well that was the target but my order should have been at 99.25.. Fortunately I scaled 99.00 even but that is the kind of lack of focus that can turn shinola into #%&*... :crap:

 

Still holding partial with stop B/E... 97.75...clueless :missy:

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True COnfessions: I messed up my exit.. I had written 99.50 well that was the target but my order should have been at 99.25.. Fortunately I scaled 99.00 even but that is the kind of lack of focus that can turn shinola into #%&*... :crap:

 

Still holding partial with stop B/E... 97.75...clueless :missy:

 

UPdate: I "expect" to be stopped out on this trade..my stop is easy $... the key is the 97.00 IMHO... If that holds then I may go long again but ...... :2c:

 

12:28cst..Update to update: I am flat - took seveal ticks out...

 

 

I always look to position on counter-rotations during lunch and my B/E stop was in the way of the rotation so I am out..while currently there is no reason to exit other than the fact we didn't take the HOD out & based on my view of auction theory the stops are the magnet to do business... so rotation is next, IMHO... Of course I do run the risk this will hold but it seems very low probability I "suspect" 98.00 area is easy $... Let's see...

Edited by roztom

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Does this help?

 

.....

 

Thanks Josh. Was just something I had unchecked like a dumbass. Looked at another one I had saved and it displayed fine. I have the chart set up to show the MP and VP side by side as in your screenshot, but I have the VP showing VA too. As below.

 

attachment.php?attachmentid=28022&stc=1&d=1331919678

2012-03-16_2.jpg.84f7c05e328c6cbdbdc3476e1ebe4c96.jpg

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