At least based on the way the ER2 traded. That may be what you were feeling. Very large and dynamic moves (most) all day. Days like today remind me of days in the 1999-2000 timeframe, with the big-swing intraday action in many instances marking a turning point, usually associated with a bottom. Don't neccessarily think or know if that's the case today, but it might be. I think you are on the right track, posting your trading results. I think and believe, that they will help, by bringing more focus to your trading. I also think that doing something, is better than doing nothing, that is, taking a step, trying something new, documenting, whatever, trying something with a fresh and positive attitude. I also happen to believe that any persons that may benefit most from your postings, even if it be only one, will be someone whom maintains an open attitude to your endeavour, and does not just focus their energies on criticism. That person may be you, or someone like you, or me, or someone like me. I am going to try my own version, that may somehow be related to what you are doing, by making intraday trading calls on the ER2. I am hopeful about it. All the best
If you really want to hold yourself responsible, I suggest you do so in a way that really means something. I suggest you use electric shock as produced by a commercially available Taser, or alternatively you might hire a dominatrix to whip and humiliate you (a specific number of "strokes" for each occurence). Now you may think that this is well out of the realm of the possible, but I can assure you that it is not. Further if you were really committed to making progress, you would do whatever it takes. I think I can guarantee you that given the proper stimulus, any trading mistake you make will be a one time event. By the way, the idea that you are not here "to teach or to be taught" is naive in the extreme. We cannot help but be influenced by what we see and hear around us, and if this is really important to you, you will benefit by considering something that ordinarilly you might dismiss. Just one man's opinion. Best Regards, Steve
It seems most of the best trades are occurring at times of the day when most are taught to exit the markets. Last Friday 5 minutes before cash markets closed the futures spike up 30 points. These setups keep happening right before the close, hardly any thing happens with my method during the day. I am done for the day.
I would think money flow into equities will start drying up this month. It could be hard for the markets to move higher and may settle into another one of these 1-2% ranges thru out the summer. It is my guess that wall street players will keep the US equity indexes supported with their favorite tool for manipulation the index futures. Election year will keep big institutions sidelined till the have a better picture of the political climate. I am going to become very picky with my setups and will only take the best. I am also going to start looking for ways to cut cost over the summer by cutting back on some of my subscriptions. I feel their will be opportunities over the summer just not as many as we have had since November 2005. I may be wrong and will keep a close eye on my charts.
Like I said the best opportunities are occurring right before the close and forcing you to hold overnight. Lets see what today brings I am getting somewhat bored with this, and I can remember last summer, this was the only way to make money was holding overnight. So cash market is open and YM is at 11411 up 44 points overnight.
I will not be trading the US index futures until they correct. I am only trading from the long side because the trend is up. The weekly and daily are overbought and showing divergence mainly in the weekly Dow. I am not playing this fools game trying to catch 10 point moves. I will relax and wait for a correction and look for intraday entries from the long side. I realize some good points can be harvested during extend periods, but that is not how I play. I am in no hurry.
Checking in, I see i am not missing anything, get use to this summer is right around the corner. I noticed the volume yesterday on YM was 82k pretty light I must say for such a strong point move.
Hi myminitrading, I've been stopping by for a while, love the simplicity of your trading style, along with "dead on target" yet simple and straightforward analysis you give. I also factor volume into my trading, and you're right, it just isn't there. Although it might seem like we're not "doing anything", I know I've learned from experience that "no action" in trading can be a very posiitive action. Best Regards, (and thank you) Jimmy