Ok, I added a column for fees that includes the total comminssions paid for all contracts traded for the week. I'll keep modifying the spreadsheet as the week progresses to try and make a more clear. Again, sincerest apologies for the error and tx for bringing it to my attention. pt
Happy to help you set your records straight. I was following you for a while and i really like your system. You actually inspired me to learn pivot point strategy and i just started paper trading today. Will appreciate it if you answered another couple of questions: What data do you use to calculate your pivot points? From open to close of the futures market or from open to close of the dow itself? And do you have any recommendations for books to better learn pivot point analysis? Keep it up!
Faked out today. All my internals were neutral and I got stopped out for -14. Tough mental day today. With the strong bullish trend in place on the higher timeframes I really hated to short this market. In hindsight, with internals reading neutral and a market that seemed to wander around aimlessly, the sidelines would have been the best trade today Good lesson learned here. Hope others stayed out of the red today.
Hey Yo, I use the settlement data from the cbot.com website for calculating daily pivots. So this would be the high, close, and low of the current dow emini contract (Dec). Honestly, I can't think of any books about specific pivot strategies. Perhaps others can recommend one. Pivots are a nice tool to help identify psychological areas of support and resistance for potential setups.
Price opened below pivot and yesterday's low. All 4 mkts went red on open; A/D moved down immediately with A/D volume following it; Looks like a potential down day. I was tempted to play the gap fill. There was a nice fib retracement to the S1 pivot that ened up rallying into the gap fill area. I passed and waited for a short opportunity. (1) +10 (1) +28
No trades today; Looks like everyone is waiting for tomorrow's employment situation report. Although it looks like gap traders made some decent coin during the opening half hour.
Hey folks, I was out-of-town last week thus did not do any intraday trades. I posted results through week 17. BTW--I changed the method for journaling contracts and points for week 16. I will go back and redo the previous weeks soon. Happy trading.