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Trading Day Prep Work
Dow mini trading results - 01/30/07
The YM opened slightly higher and quickly filled its gap and set the low of the day in
the first 30-minutes. From there it took a one stop trip to its highs, which were just
below yesterday's highs. After that short morning rally the day slipped into a boring
contraction with no volume. The whole day was really just an upward sloped range
with slow activity. The range came in at 70% of its 20-day average. The PTB was
down and just two of my trades were short. It is a FOMC week so the slow activity has
been expected. It should pick up after tomorrow. I have had a very slow month. Winter
finally arrived and my son's babysitter and her children have been sick so I have had
an increased work load at home. In addition I am not used to having the Colt's be a
distraction this late in the season (not complaining at all). Things should be back to
normal by the middle of next week.
I had five trades today surprisingly. The first two and the last one were on the 20tic
chart. The other two, right after the DZ, were on the 4tic chart. The first trade hit me
because I entered without enough room for the crunchy line test in my stop. The
second one set up more crisp and allowed a decent stop placement beyond the
trend filter. The two trades after the DZ were quick ones using the 8K9C filter as we
discuss in the room. Those first signals after that separation are usually pretty good.
The last trade on the 20tic at the end of the day didn't have the separation but I played
it as part of the IB rollover effect that was lining up. I only needed 7-pts to reach my
goal at that point.
I didn't get anything done on Monday but today was nice. It should get more
interesting after Wednesday. I want to thank everyone who has stepped up in the
room and helped new members get familiar with the filters we use there. I think we
have a good mix of traders now and we will have a good year.
(Here is the prior Post).
Results: 5 Trades Date: 01/30/2007 Gross Points This Week: 20 YM
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09:43
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S
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12520
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09:46
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12527
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-7.0-pts
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100%
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All Times EST
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* For rules refer to Scalping the E-mini's
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Looking towards tomorrow
The Pivot Trend Bias is FLAT so there is no bias and I will using the 89-sma for
trend direction.
The Advancing Volume ratio came in 70%, which typically has some follow through.
We closed in the upper 80% of the range as well. It is a Fed day tomorrow so I likely
wont be doing anything until the close if at all. I usually will see if there is any good
run early in the session and try and get half my goal then. By 10:30 I am done even
looking on a Fed day until well after the announcement. There is just no point
preparing for events that are so infrequent.
I will continue to be using the 8K9C filter for my primary trading and as the teaching
tool in the room. It is going well and seems to have helped most people clear up
the mental cobwebs and focus on an easy to see and use filter. If anybody is
struggling on this I encourage you to contact me either in the room or by email.
Have a great day! See you in the trading room. May God Bless you ~
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Those who are joining the intraday trading room please feel free to ask questions
on anything you are trading or any system related questions you may have.
I started a new yahoo group recently. It is to facilitate the distribution of the
newsletter. Use the form above to join. There is no reason for users of the system
to join as you already have access to the private room.
I recently uploaded the Trading-Focus audio and posted those links in the Yahoo
group for those who want to use it.
Good luck! Be sure to contact me through the links on the About Me page if you have
any questions. See my complete prep work for tomorrow.
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