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Trading Day Prep Work
Dow mini trading results - 06/12/07
The YM gapped lower after reaching a decent lower high spot yesterday for the daily
buy signal that has been in force the last couple of days since it tagged the MC.
Market Breadth (A-D) started low and stayed weak all day giving us the green light to
press the short signals as much as we could. There were two really good series,
one in the morning and one in the afternoon. In between we had a pullback on the
25-minute charts over lunch that filled the gap. The pullback was nice because it was
on fairly light lunch volume and during it A-D never left trend territory which helped us
sit tight and wait for the heavier move which came after lunch.
I had an unusually high number of trades for me today and I attribute that to the new
alert system we are using in the room. I just kept hitting the button as the signals
fired off in line with the market read. Whats sick is that I could have had three times
that number of trades on the 12-second time frame I was mostly trading.
I wont say a lot about the trades as they were pretty much all the same. The first four
were all based on the 5-minute rollover using the 12-second for entry on system
signals. I probably should have stayed with the first one and just held through the
series but I tend to ring the register a few times before I let something run.
The next trade (fifth) was a play in an area where the 5-minute was against the
1-minute half the way up that lunch pullback. We had a crunchy at 13,500 and a
crunchy at 13,486 and no divergence below on the 1-minute. I played the 5-minute
PB on the 12-second chart to the crunchy below and that formed the divergence on
the 1-minute and allowed that trade to get going off that crunchy.
My sixth trade was the first system signal on the 1-minute after the 25-minute
finished its pullback. I like to use that relationship to enter those higher time frames.
The trade had a whole lot left in it but I played it for a HL back into that same 13,486
crunchy.
The very last trade was a shot at a late bounce after forming all the divergences we
needed on the 13,434 crunchy. My mistake was not taking a quick scalp probably as
there was plenty of room there but I planned on letting it go to the close. It was worth
a shot at that point because I had a nice buffer above my daily goal already.
Anyhow, so far its been a great week. I figured we would be a lot slower but no
complaints here. (Here is the prior Post).
Results: 7 Trades Date: 06/12/2007 Gross Points This Week: 92 YM
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09:55
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S
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13514
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09:58
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13508
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+6.0-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 DOWN so I will look short initially and I will be using the
89-sma for trend direction.
The Declining Volume ratio came in at 87%, which usually leads to follow through
but less often since it is on an extreme level. As a rule I tend to go really slow after a
day like today. Expansion leads to contraction leads to expansion leads to.....
Today was an expansion that was fairly strong so I look for a contraction the next
day. That simply means tightening up and playing inside the prior days range in
most cases. I will be happy if it trends more or gives good range swings but my
mindset going in is to just take it slow and let it prove it to me first. I assume range
and relish trends. I wouldn't be surprised to see my bounce attempt made on my
last trade today play out tomorrow as we go back and work on some of those
crunchy levels again.
Like I said above, I have added automated alerts to my live charts in the trading
room. It is working out well because I can focus totally on the market read and
everyone can see the system signals within that read in real-time. I will probably
stick with this new room format unless I hear some negatives pretty soon. It seems
to encourage discussion more and eliminate chart time frame discussion, which
was my headache driver. Please give me feedback on that room if you are using it. It
costs a pretty penny and I don't want to pass that cost on to the traders who come
there, nor do I want to keep using it if the majority don't find it better than the current
one. The live-charts is the feature I think is cool.
I will continue 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 weekend! 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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