Afteroon and Morning Journal for YM Trades 1-10-07

Discussion in 'Journals' started by Spectra, Jan 11, 2007.

  1. Jan 11, 2007 Thur Afternoon Session
    January 11th, 2007

    Our MaxSpan strategy trade trail stop was finally hit at 1:10 PM EST during the deadzone for an out price of 12584 (the entry price was 12540) giving us reallized gains of +10 on the first 2/3 and +44 on the remaining 1/3, which had a trail stop applied to it. The “sneaky lunchtime buying” phenomenon did manifest itself today as there was a continuation move up from a pennant-like consolidation on the YM in the first half hour of deadzone (we call the lunchtime doldrums between 11:45 AM EST and 2:15 PM EST “deadzone”). This phenomenon occurs early in the lunchtime doldrums when traders try to get in some last-minute orders in order to satisfy some of their assigned quotas before going on their lunch break. Nothing very exciting happened in the afternoon, other than the ECBOT going down (the exchange the YM, or Dow e-mini, our favorite trading instrument, is traded on) for about an hour, between approximately 2:10 PM EST to 3:05 PM EST. There were no Official Room Calls for the afternoon, although Alex did share with the room his personal account trades, stops and targets (in audio) including the ES long trade from the retracement back to the daily R1 level. Alex switched temporarily to the ES as it is traded on a different exchange (CME). There was some interesting information on hedging stuck positions when exchanges go down, as discussed in the chat room amongst room members and advice from Alex in audio. A short video will be released this evening on the topic. Visit and join our mailing list to keep up to date on important developments and receive our free newsletters and videos. We do a complete audio capture of the day’s activites and provide restricted access to the transcripts to our subscribers. However, each Friday we provide free access for that day’s audio transcripts through either our podcast or direct download from visiting our blog page.

    Jan 11, 2007 Thurs Morning Session
    January 11th, 2007

    Our MaxSpan strategy trade is still trailing its remaining 1/3rd which is up 61 points now (as the price is printing 12561 as I am typing this blog entry) after scaling out the first 2/3 for +10. CajunSniper (one of our room/web site admins and day traders) issued the call at 9:54 AM EST at a entry price of 12540. Today’s strong up=trending market allowed the initial target of +10 points to be reached with very little heat taken on the trade. Hopefully, room members, you are still trailing the stop on your remaining 1/3rd position in MaxSpan as you are reading this blog entry so that you can take max gains on MaxSpan. Our only other Official Room Call was a short issued at 11:10 AM EST at a market fill price of 12485 with an initial target of 12477 and stop of 12499. We did take a little heat on the trade before it became profitable due to the extremely bullish filters. Traders were advised to take profits early at around the 12480 level, which got us 4-6 points depending on executions and slippage.

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  2. Would you mind answering the below, posed on another thread? Thanks.

    "i will bite. are you any good at it? how much did you personally make last year? are you willing to show your account as proof?"
  3. Question answered in appropriate forum
  4. nkhoi

    nkhoi Moderator

    I will vouch for Alex, he def make boat load of money every day. (the stop is kind of uncomfortable though, my view only)
  5. Thank you Spectra