Was a little lazy on Friday as I was busy but still managed a trade. I did it on my netbook and as I was on a different computer I decided to leave the note taking for today. Well, when I opened TS the graph doesn't show the entry/exit correctly as the US changed times and now the market opens 1 hour earlier in my time zone. A TS bug which shows the arrows wrong as it shows friday's graph shifted. So sorry for no graph. Anyway, I got a little lucky I feel and took 10 pts out of the market. Lucky because I could have entered a little earlier and lost 10 pts. I think the lesson is that sometimes (not always but relevent in the way I have been trading) is that during sideways movement the trend has loss steam and buying pullback on such signals should be ignored. I bet that makes no sense I think you need to see the graph Anyway, the results so far: March: +31 1st wk: +10, +1, +10, -10, +10, +10 = +31 2nd wk: +10, +6, -10, 0, -3, -10, +6, +10 = +9 February: +59 2nd wk: +10, +10, +11, +10 = +41 3rd wk: +6, +10, -7 = +9 4th wk: +10, +9, -10 = +9 Today no trades so far.
Basically, the trade was not picking up any steam so I took myself out for a tiny profit. Just in time too! It would have gone to my stop. So +4 for the day. Hopefully, market activity will pickup soon as it feels like summer trading
Thanks for posting your trades and thought process here, Snowman. I also trade the /ym using a combination of Bollinger Bands and StochRSI. I trade different timeframes than you, usually shooting to be in a trade for the full move that i'm interested in which typically works out to 15mins - 1 hour. Good luck to you in establishing your method.
Another sucky day. When will summer end? Lost 12 points on a short of a pullback of what I thought may have been a down move.
Sorry to hear about your trade Snowman. I made 1 /ym trade today picking up 11 ticks. (short 10620 to 10609) You can see the setup on the 5 min chart, i have no clue how to post screen shots, sorry.
Hey Wh1teruss1an, Did u take the trade 2hrs into the session? 620 was a fantastic entry. How did u pick 620? Excellent job! Good luck today. S.
Thanks, Yes it was sometime around 11:00/11:30 if I remember correctly. I jumped the gun on my entry to be honest. If I was strict with my rules I probably would have sold around 10 minutes later but I had a gut feeling to go for it. The reason for my trade was that even with that green candle about 5 minutes prior with low volume it couldn't break the upper bollinger and I figured it would drift lower from there into the FOMC meeting. Good luck to you today as well.
Hey Snowman, I made 1 trade for today. I sold @ 10695 at around 13:55 EST. I bought it back @10682 at around 14:50 EST. The reason for my trade was the double red candle after the top bollinger band on the 5 min chart while being oversold on the StochRSI. I'm usually correct with this combination of indicators about 80% of the time as long as I don't have my stops set too tight and i'm not afraid to wait and let the trade develop. There was a reaction that I held through and then it started to drop. The reason for me selling when I did was because I had anticipated the previous high to become support of which I was incorrect as we all know. I picked up 13 ticks today.