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Trading Day Prep Work
Dow mini trading results - 08/03/07
The YM opened slightly lower after Thursday's late advance into the close. What that
advance did was form the head on a 25-minute head & shoulders pattern. The right
shoulder developed throughout today and gave way to a nice neckline break in the
post DZ session. A-D was showing nice stead selling from the get-go and around
the time the YM started to go for that neckline it overcame its battle for the -1500 level,
which more often than not is a level that initiates a snowball market.
I had a sort of mediocre start as I was cued in on the 5-minute most of the day and
the 25-minute was driving the boat. That caused my first signal shots to wash each
other out a bit but fortunately I was around when it opened up and was able to grab
another big winner. I got in on the 12-second system signals right as the snowball
started picking up and was able to hold it through to the crunchy level two layers
below. I unloaded at the levels along the way. The trade was supported by the
5-minute signal as well. This was much like the trade we had last week in the room
and once again it went down another couple layers of crunchies past my exit. I may
have to start adjusting my size to give those last layers a chance to play out as long
as we have this sort of volatility.
I only worked two days this week but managed to reach my goal so it was a good
week. The market has been pretty sweet and I have adjusted to aim for bigger profits
when its starting to move in order to make up for the time I am missing here and
there with summer projects. I appreciate the kind emails that were sent this
weekend and I look forward to the special learning session on Tuesday while the
Fed is doing their babbling game. I am really happy that people have stepped up to
help others in the room and I hope that continues.
(Here is the prior Post).
Results: 5 Trades Date: 08/03/2007 Gross Points This Week: 114 YM
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10:19
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L
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13427
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10:21
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13417
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-10.0-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 was at 95% and that is the highest I have seen it. That
could even be a misprint but I saw it from multiple sources. Either way, I am playing
toward a consolidation on Monday and if it opens up more then all the better. I will
use A-D to help monitor and adjust my game plan. Mainly I will look for stalls near
crunchies on the 5-minute to play the 1st system signals on the 12-second with. I
won't trade Tuesday but plan to be in the room this week for the most part.
If you are using Sierra Charts and want the automated alerts template let me know.
I will either send them to you or I can upload them to the Yahoo Group. The few
people I have shared them with are giving great feedback. I set them up for the
benefit of the room but I have to admit I am finding them useful as well. As a great
philosopher once said..."one less thang."
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 week! 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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