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Trading Day Prep Work
Dow mini trading results - 03/11/08
The YM gapped higher overnight on some Fed babble. The gap was fairly large and
took a while to recharge before continuing on. I don't follow the details of news so I
have no clue what they were all hyped up about but it was enough to give some fairly
decent trades throughout the day. I missed most of the stuff that went by while
working with a few individuals in different one-on-one settings but the few trades I did
manage included a couple good sized runners as I targeted crunchies that were a
good distance off from my entry.
My first trade was a first attempt at a long after the 5-minute had pulled back to its MC
following the open. The entries for all trades were off of the 12-second chart. I got in
at a pretty bad entry on that first trade and it formed divergence almost immediately
but I waited it out and eventually my stop was hit. In hindsight my time-stop would
have been handy especially since the entry was so poor. I chased it. The good news
on the trade was that it had a plan B attached to it that said if the stop was hit and
activity increased in speed that I would take the first system sell signal that followed
and target the area around the 25-minute pullback zone. That is what I did with my
second trade and things moved much easier in that direction.
The last trade was the first system signal that occurred above the 12,030 crunchy.
The next crunchy in the distance was the one at 12,103 and that was what I targeted
on my runner. It eventually ran to the crunchy next in line at 12,196 but I didn't have
that much foresight. Most of that last trade was exited at the normal scalp level a few
minutes after entry.
I will be back in the room on Thursday and hopefully the market wont be to out of
whack with the contract rollover. If it is I will finish up videos 3 & 4 and try and get the
first 4 situated. I will definitely have most of them out by the end of the month. I ended
up having to scrap the initial effort I made on my own and get some help but they are
almost done. I am breaking down most of the steps of the Progressive Flow
Exercises and the primary filtering we do in the trading room. Then I will get in the
habit of doing my daily trades on video as well for after hours upload. It will probably
replace a lot of this writing format but I will still do some of that too.
(Here is the prior Post).
Results: 3 Trades Date: 03/11/2008 Gross Points This Week: 70 YM
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11:00
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L
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11994
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11:08
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11980
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-14.0-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 85%, which does tend to have some follow
through but its an extreme reading so unless this was a new money move off those
daily crunchies below then chances are that we contract again. That is the way I will
approach things if I get to trade tomorrow. I will expect range and if it trends then
great! These rollover days can go either way but with today hopping up pretty good
some contraction is likely.
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 week! 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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