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Trading Day Prep Work
Dow mini trading results - 09/25/07
The YM opened lower today extending the reach of yesterday afternoon's drop and
dipping into some of the Fed day rally from a couple weeks ago. It was unable to
continue pushing lower after the open though, instead opting to close the gap and
linger on that crunchy at 13,850 most of the day. The certainty shown in one of the
trading rooms that the market was definitely headed lower gave me a lot of
confidence that long was the way to be aimed today. That level of certainty rarely
mixes well with the market.
It turned out to be a pretty tame day after the initial rally. The upward pressure
remained much of the day despite the tilt in market breadth toward a down biased
range. A-D did work higher throughout the day though and closed near its highs.
I had just two trades today and both were in the morning after which I stopped paying
close attention. I was running daddy day care today so my attention level was less
than optimal. The first trade was the first 1-minute trade in the rally that closed the
gap. I was on the 12-second shopping before that but kept filtering myself out with
the LTMDVG. The 1-minute trade closed the gap and built a divergence. The lack of
divergence prior to the trade gave some cause for taking it.
The second trade was soon after and it was a 5minute stall attempt using the
12-second for a take-in. I entered on limit at the high of the signal bar and that turned
out to be just enough. Had I gone market it would not have likely worked out.
Kind of a light day for me but I am happy to have hit my goal while managing not to
get frustrated with my son climbing all over me : > If you are a member be sure to
come to the new trading room if you have not checked it out. The old one is still
running as well but the streaming charts in the new one is making teaching easier
and there is a good group of folks in there making good strides towards consistency
and they are quite helpful both when I am there and when I am not.
(Here is the prior Post).
Results: 2 Trades Date: 09/25/2007 Gross Points This Week: 64 YM
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10:28
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L
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13831
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10:37
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13852
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+21.0-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 57%, which is near neutral but does often
show a good bit of follow through. The daily is cleanly through that inverted head
and shoulders now and that thing has a projection up in the mid to upper 14,000's. I
don't tend to put a lot of weight into inverted head & shoulders patterns near highs
but as long as its working I will stay with it and use it for a broad guideline. If we stall
out and start to head lower I will try and work it back into that Fed day launching
point. Tomorrow may be my last day of the week and there is not much news to get
it going that I saw so I will just remain in slow mode until A-D pops out of this very
neutral phase its in this week. Its been a while since its spent so much time in the
range brackets. Almost feels nice to be in "normal" again.
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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