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Trading Day Prep Work
Dow mini trading results - 08/14/07
The YM further extended the daily system sell signal that kicked in last week moving
us below the recent consolidation range and into some crunchy levels we have not
seen since April. I missed all but a few minutes of Monday's trading but was able to
trade all day today. Too much in fact. The A-D moved quickly to trend levels after the
open but somehow I got into my mindset that I was going to play range and didn't
adjust well early on. That left me watching some good shorts go by while waiting to
play long off the crunchies below.
I ended up with eight trades total and just one of those was a short. The end result
wasn't bad but it was an interesting way to get there. I had just two losses and one of
those had enough for a gain but I was aiming a bit too high. A day like today just
goes to show you that you don't have to have a great plan you just have to be patient
enough to stick with it. By waiting for the deeper pullbacks on the higher time frames
I was able to play long almost all day, yet in the end we had a great downtrend day. I
plan to wake up on the right side of the bed tomorrow : >
All except my fourth trade were on the 5-minute chart with a 12-second take in.
Nothing different from the stuff that we have been working on in the trading room.
That fourth trade was on the one minute chart as the 25-minute made its way back to
the MC.
Anyhow, it's been a good start to the week and tomorrow is another working day. I
plan to be in the room all week long except for short periods where I have to go to the
hospital. Thanks again to those who send notes and especially for your prayers. It's
awesome to have such a great group of people to be trading with everyday.
(Here is the prior Post).
Results: 8 Trades Date: 08/14/2007 Gross Points This Week: 49 YM
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10:35
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L
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13207
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10:41
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13197
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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.
The Declining Volume ratio came in at 91%, which usually leads to follow some
through, but is also considered an extreme reading. When we ended the day we
were just 70-points away from the next crunchy below. With the extreme reading on
the A-D I will look for some consolidation in the morning and perhaps all day. The
daily system sell signal that triggered last week has a projected target of 12,698.
The daily crunchy stands between that at 12,793. I will start to look for support in
this area. In the meantime let's just trade the market were dealt and keep an eye on
A-D to help stay on the right path intra-day.
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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