i have a few questions harris: what time frame do u take signals on for russell and currency. since you buy/sell pullbacks, u need trending markets or your trades will result in losses right? So how do you know when a market is trending and will continue to do so? pullbacks vary in size. With an 8 tick stop on the volatile ER2 for example u need precise entries. U enter to early u get stopped out. Your order is set to late u miss the trade. How do u guage the size of the pullback when do u plan on giving exact entries as in your previous journal thanks
Sorry for the delay. Actually I got busy with my trading, didnt get amlpe of time to prepare for the ET. ET make things kinda slow at times. Missed couple of winners on each of Notes and Bonds which didnt get called in the room beause I was just too much caught with work. All of them were SHORTS from 1/32 and 30/32 on Bonds and 108'16.50 as well as 108'14.0 on Notes. So on and so on. Needless to comment, on whats gone is gone, still Bond and Notes are for the SHORT side and I will try to give u the entry levels for each of them as they appear. Would come with a pullback to SHORT again. EC is also SHORT at the moment and I am in from 1.2030 as I write this. So if you get a chance, ride it from my entry for SHORT before it meets my target on it. I am LONG BP 1.7628, so BP are on LONG side. Oposing signals from EC.
There you go.. Bonds filled and Hit target. Notes Filled and Hit target. EC filled and Hit target. $300 bucks!! All live here
For Russell I trade from 110T/233T/450T and I enter from 110T. For Currency i trade off from 300 on EC , 50T on BP, 100T on JY and 30T on AD. ALWAYS. I timefarme dont change that much. About knowing which side of market you should be riding and knowing that the markets are trending or not, I use combination of various things. I have few indicators which would let me know which side I would be riding ( note that i use high time frames so they dont chop around much and gives me definate trend direction ) and then to confirm that side I am opting for I use momentum + Volume bases studies which would let be know teh drive in the market. Its easy for me because its the same thing I am watching on many charts, I would just stare the screen and would know what is what. For measuring the pullback, first thing first, I would watch for trend, then i will see the force or you can say thrust favouring the trend direction and then in simple words I would let prices retrace to the levels indicated by my indicators which would tell me that the pace of the thrust is fading away now which would allow me to enter the trade on the pullback which would come from those levels. Thats basically the summary of how my method works. Just the bird eye view.
Gold seems all set to nose dive again. Bonds are still looking weak and so are the Notes. However I dont hav any entry triggers for them as of yet. But I am SHORT biased. Bp and EC are both strong for now and can be entered LONG on a pullback. JY is on chop zone now so no trade and AD can be LONG now 0.7434 We have a Support on Russell at 42.50 and resistance at 45.60 since morning. Prices moving up and down from those levels. watch for them. All the best.