|
Trading Day Prep Work
Dow mini trading results - 11/06/07
The YM opened higher today but flattened out pretty quickly as A-D bounced off the
trend marker. The stalled gap naturally led to a gap fill, which set up a 5-minute
system buy signal that played out the rest of the day in a steady climb. It didn't clear
the opening highs until the end of the day when it ran for the crunchy level out at
13,686. Overall it was just another consolidation day as the daily and weekly charts
continue to form signals against each other. That usually means a DD is in order.
Today was a bit better as far as runners went. I showed up a little late and wasn't
even sure if I would trade after hitting my weekly goal in one day but I decided to take
the first signal I saw and it was a 12-second entry on the 5-minute pullback toward
the gap fill. I hopped out at the 13,579 crunchy. I actually got a bad fill going in
because it zipped right when I went for it but there was plenty of room to that crunchy
and that is always a good thing. Had there not been room I would have had to exit
early because it would have required more risk than the reward would be worth.
The second trade was a standard 5-minute MC roll using the 12-second system
signal for a take-in. This one also had plenty of room. The market ran higher after
this trade. The third trade was an attempt of a move lower out of the 5-minute
consolidation below the highs. I took it more because I had been expecting it to set
up than for any good reason. The 5-minute was clearly in a consolidation and didn't
have divergence above so not sure how I let myself see anything there. It was a good
loss though because it had a plan B attached and that was to get aggressive on the
longs if the trade failed and it did. That loss was good information for the strength of
the market and gave me confidence to trade to that 13,686 crunchy.
I only have a few weeks left before I start to really slow down for the year and get my
goals ready for next year. I have asked in the room and will do so here for folks who
don't visit there daily.....I need your wish lists for 2008. I need to know where I need
to focus more in the room to help bring people further along. We covered a lot of
ground this year and in years past but I want to make sure people are not falling
through the cracks so please send those wish lists and specify where you need
help. These will become my focus both in my one-on-one sessions with folks and in
the group. Many thanks in advance.
(Here is the prior Post).
Results: 4 Trades Date: 11/06/2007 Gross Points This Week: 155 YM
|
|
|
|
|
|
|
|
|
|
|
10:25
|
S
|
13591
|
10:33
|
13579
|
+12.0-pts
|
100%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
All Times EST
|
|
|
* For rules refer to Scalping the E-mini's
|
|
|
|
|
|
|
Looking towards tomorrow
The Pivot Trend Bias is FLAT so there is no bias and I will be using the 89-sma and
A-D for trend direction.
The Advancing Volume ratio came in at 70%, which is pretty high on a consolidation
day. Levels that high do tend to have some follow-through. The daily is working on
its system sell signal off the MC from below while the weekly is building its buy
signal off its MC from above. This usually results in a DD on the daily. Should get
interesting soon.
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 ~
------------------------------------------------------------------------------------------------------------------
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.
|
|
|
