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Trading Day Prep Work
Dow mini trading results - 05/23/07
The YM opened higher and cleared the range we had built over the last few days then
tested it from above. We had a perfect system signal early on that test but I had not
shown up for work yet to take advantage of it. Following the early system signal we
had divergence above. That stopped my plays to the upside and helped set up my
first trade.
My first trade was on the 1-minute chart the K8C9 sep filter and it went pretty much
right to target. I am getting used to time based charts again after several years off
them so I used a limit to get in near the top of the signal bar. It filled well and worked
out fine.
My second and last trade wasn't until much later and it was off the 12-second chart
(1/5 of 1-minute). It gave a system signal in line with the 5-minute sell that was in
play. The 5-minute would not have had time to work that late. I left some on the table
with this trade as I walked my exit down with my stop rather than taking my fixed exit. I
was looking for a larger move as the day wound down and it didn't happen.
I don't usually get to do much on Wednesdays anymore so I was happy to have a
couple trades. We did some lessons in the live room over lunch on drawing
crunchies. I appreciate the emails from those sent them. I am glad it was helpful.
I have been able to trade a little everyday this week and thats quite a feat with daddy
daycare running for the summer. Hopefully we can round out the week with not just
me but all of us hitting our goals in the trading room. (Here is the prior Post).
Results: 2 Trades Date: 05/23/2007 Gross Points This Week: 43 YM
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11:29
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S
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13617
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11:33
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13607
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+10.0-pts
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80%
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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 DOWN so I will look short initially and I will be using the
89-sma for trend direction.
It was an outside day today with declining volume picking up into the close. We
could certainly stand a pullback on the daily chart but until we see some heavy
selling playing long system signals on the stalls around crunchies is a good way to
go. I was a bit surprised on review of my recent trades as most of them have been
shorts. I think that is largely due to the fact that I have been restricted in my schedule
and catching rollover periods where the balance of power is shifting. Most of them
have been on the edge of lunchtime or the end of the day.
The Advancing Volume ratio came in at 50%, which is neutral and actually a good
bit lower than it was earlier in the day. A-D made an outside day as well and ended
at its lowest level in a week. Tomorrow may be an interesting day with all the news
to help things along. I will be on the 1-minute and 5-minute charts mostly for the
foreseeable future. This will make it easier for everyone to be on the same page
since different data feeds cant match tick charts and I recently ran out of excederine.
My schedule over the next few weeks will be limited. We are rehabbing a house as
a summer project so unless the market just gets crazy good for some reason I will
focus on that a couple days a week.
I will continue to be using the 8K9C filter for my primary trading and as the teaching
tool in the trading 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.
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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