Trading Day Prep Work
Dow mini trading results - 06/02/08
The Dow continued the late weakness from Friday afternoon further extending its
move off the daily MC and taking out a swing low in the process. It was a fairly nice
trend in the morning followed by a sideways lunch and then a decent retrace into the
close. NYSE A-D was in trend territory all day. I had just two trades. I missed several
others that I was stalking by letting myself get distracted. The first trade was the first
sell signal on the 12-sec below the 10AM news babble lows. I ended up getting a
bad fill on it and took off 3/4 of the trade at the scalp level feeling fortunate to do so.
The remainder was taken off at the 12,476 crunchy an hour later.
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The second trade was the first 1-minute signal after the late consolidation. I was
waiting on the pop to take it on the 12-second and missed the entry. By then it had
some divergence so I slid up to the 1-minute and took the exact same trade setup
there. It required a 20-pts stop and target and filled fairly quickly.
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(Here is the prior Post).
Today's Results: 2 Trades Date: 06/02/2008 Gross Points This Week: 69 YM
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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 be looking for shorts initially on a gap up
that stalls early and I will be using the 89-sma and A-D for trend direction.
The Declining Volume Ratio came in at 75%, which usually has some
follow-through. I won't be able to trade tomorrow unless it is very early on FOREX.
Given the expansion I would just expect range and be pleasantly surprised if its
moving in a trend. Concentrate on the open and the close unless we have high
volume. Let me know when you need help.
If you are using Sierra Charts and want the automated alerts template you can find
them in the Yahoo Group in the files section with the name system-alert.zip.
Have a great day! See you in the trading room. May God Bless you ~
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Note:I am in 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.
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