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Trading Day Prep Work
Dow mini trading results - 01/04/2010
The market opened a little higher today and spent most of the day drifting even
higher before settling back to the 10,514 into the close. Volume was definitely better
than last week but its still light. I guess that is to be expected coming out of a nice
long holiday. I had a hard time coming back myself, but it is good to be back and
finally able to trade again having been shut down since before Christ – mas.
I ended up having two trades today. The first was right after the open as the market
pulled back to the 5-minute MC into the open and almost right away set up the go-
with-the-gap set up off that MC. It went to the 10,457 crunchy right away, which was
the target. The second trade was the first long above the 10,514 crunchy, which was
also the opening edge for the morning. By the time that trade had formed the 5-
minute had stretched itself into a clear orphan situation and luckily it was the type
where it went sideways instead of vertical in the pullback. After an hour the trade
kicked into gear and I was able to exit with some profit before I had to leave for lunch.
That is a lot longer than I aim to be in a trade so I just shut it down after that.
Its great to be back in the room with a market that we can touch a little, but its still
pretty light so after the morning when it gets slow lets take advantage of the down
time and start working on some of your 2010 goals or whatever things you need to
work on with the system. I imagine things will pick up soon as this daily range wont
drag on forever. Be sure to ask for the help you need this year. That is the reason the
room is there and that is the reason I am there. If you need help one-on-one then we
can work that out too until you get on your feet. We had a lot of people reach their
goals last year but I want to see even more make it this year. Happy 2010!
(Here is the prior Post).
Results: 2 Trades Date: 01/04/2010 Gross Points This Week: 31 YM
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* For rules refer to Scalping the E-mini's
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All Times EST
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Looking towards tomorrow
The Pivot Trend Bias is UP and today was an expansion day so I will start the day in
range mode and let it prove otherwise. If we gap down then I will lean towards longs
early since the PTB is up.
The Advancing Volume ratio came in at 87%, which is usually an extreme level. That
will further influence me towards approaching the day with a range mindset. There
isn't much of anything in the way above todays highs that is recent. We spent a little
time here last year in the end of the world panic but not much. I am adding to my
crunchy list as we make new ones rather than using the old ones from last year.
If you are using Sierra Charts and want the automated alerts you can find them in
the Yahoo Group. The ones in the file titles system-alert.zip are the ones I use.
Have a great week! See you in the trading room.
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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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