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Trading Day Prep Work
Dow mini trading results - 01/10/08
Happy New Year! Its been a while since my last update. I have been able to spend
time in the room since November but wasn't doing much trading and took several
weeks off to try and get caught up on this house project. Its nice to be back though in
a new year with new goals and some great people to work with everyday in the room.
I missed most of the day today due to a meeting in the morning but got back just in
time after the DZ to catch a few plays. The market opened strong and built upon the
late day advance from Wednesday off the daily crunchy at 12,616. Those late day
surges usually do carry over. At the end of today we had a similar move going the
other way. It will be interesting to see if it also carries over into the morning.
I had three trades and all were off the same move and setup. The 5-minute chart
(25x) had pulled back over the DZ to make a system buy signal and what I did was
take the 12-second signals in that direction. As always I focus on the first one
especially and I had figured it would be only that one that I would get to play. What
ended up happening though was that A-D reached trend levels and I just stayed with
it for a couple more trades to reach my goal. The second and third trades were the
exact same trade. I was a little bit late on my entry with the third one and that required
me using a slightly higher stop than normal for that time frame but I compensated
with an equally higher target. My targets will never be less than my stops unless I
end a trade after a period of time with a time stop. Most of my trades hit target within
3-minutes so I have a time stop alarm going off to remind me of that. I don't always
obey it but it does usually pay to if we have mot started moving in the trade direction.
The two stops I have had this week agree with that pattern : >
Anyhow, thanks again for a terrific 2007. I made some good friends and saw many of
you take great strides in your trading. Starting next week I will start posting video
tutorials for all the things that we cover in the room and probably for my daily trades
as well. Due to system resources some of those videos will have to be after the fact
but I think it will still be a valuable tool for those of you learning. I will post the location
of those next week.
(Here is the prior Post).
Results: 3 Trades Date: 01/10/2007 Gross Points This Week: 67 YM
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14:01
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L
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12795
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14:01
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12807
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+12.0-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 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 66% and that usually does show some
follow through. The PTB doesnt agree yet but it doesn't disagree either. If we get a
gap down we might look for some stalling on some of those lower crunchies. If it
occurs we could start building that second move back to the daily MC, which is
several hundred points above. If A-D is falling off a cliff then we just have to jump on
that train though so don't get locked into that daily MC. It could take a week or two to
get back there, especially if we contract each step of the way.
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.
Have a great weekend! See you in the trading room. May God Bless you ~
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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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