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Trading Day Prep Work
Dow mini trading results - 04/22/08
The YM opened lower and continued lower for most of the day on trend level A-D.
After popping above the daily range top last week we have been working back to test
it from above and that is what today was. Whether we slip back in tomorrow or
bounce off will probably help decide our next couple weeks.
I had four trades today and they were mostly just the plain vanilla system signals
working with the higher time frame guidance into and off of the MC and crunchies. My
first trade was the first sell off the 5-minute MC using the 1x for a take-in. It was
mainly a feeler trade as are most first trades of the day. I wanted to see if that initial
swing low would be taken to help set up a good trend down or if it would bounce off
and set up some range plays between it and Monday's high.
The next two trades were somewhat related. One was a play back to the 5-minute
MC from below after some firming at the swing low and the next was an attempt to
again play off that MC using the 1x. The stop was hit on that one and I drew a box
around the whole day choosing to wait for expansion rather than try and play in what
may have been a range. Well it did end up expanding downward creating my last
trade and ending my day. Not a bad day overall and it is probably the end to my week
unless I can get in on Friday. I have company in town this week.
I am on the process of updating my website to make my life easier and to better help
you folks learn this. Please accept my apologies as I make these changes in the
coming weeks. No access will change for members, I am just trying to make it easy
to update things so that I can do that and also spend time with my family instead of
making a choice between the two. As you can see from the logs the site loses that
battle about 10 times out of 10. When I do update the site there is no battle at all : >
What will likely end up happening is a move more towards daily (or nearly daily)
video updates of the trading day and less of this typing stuff on this clunky Yahoo
Sitebuilder editor. It will incorporate a Blog as well so there will be some similar
updates but the Blog will allow me to get them out quicker and in more detail.
(Here is the prior Post).
Results: 4 Trades Date: 04/22/2008 Gross Points This Week: 42 YM
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10:24
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S
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12755
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10:29
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12739
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+16.0-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 Declining Volume Ratio came in at 70%, which usually has some follow
through. I doubt I am trading anything other than early morning currencies
tomorrow. Keep an eye on what it does on the top of that daily range. It may get
sucked back into that weekly crunchy below but if not then we could see the low
13k's again 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.
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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