S/R Emini Journal

Discussion in 'Journals' started by 4re, May 15, 2006.

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  1. Speaking of trends and such, here's a website I explored several months ago and found a great way of calculating ranges.

    I use it when updating my spreadsheets to help me determine the potential for a nice big, fat juice breakout (like we have today and last Tues.).

    It may assist in determining whether you go for 2.00 pts total on your contracts, or split-them, or just hold for the trend play ... work with it, backtest it, maybe it'll help, maybe not.

    A lot of traders use a similar concept when measuring the ATR of their security(ies).

    Best,

    Jimmy

    http://www.deltat1.com/DailyNotes/notes3.htm#Trend
     
    #651     Jun 1, 2006
  2. hpeganz

    hpeganz

    I didn´t take it - but worked.......

    I could should have seen the channel between 1283.25 and 1287.50 ....
     
    #652     Jun 1, 2006
  3. 4re

    4re

    Candeo,
    I was not unlike you when I switched to this market from options. One thing I realized early is that this market moves extremely fast when we have a lot of players. That is one reason that picking a target and sticking with it is so important. The more time you spend with it the more you'll understand it.

    I also noticed that a lot of people just go for 2 points and reverse. That really can swing the market fast. I tried several different methods that had worked for me in the past to no avail. When I noticed that S/R levels were very important in this market I started to research it. That is when I noticed that unless it is a trendy day 2 points was about all you could safely get.

    A couple years back trend trading worked very well in this market but has since been changed by the 2 point guys. Not being a person to fight the market I just developed a method that worked for me.

    Not saying you can't go for more, because you can but it can also be dangerous.

    4re
     
    #653     Jun 1, 2006
  4. chaswagg

    chaswagg

    I just started sim trading this week. I guess I cheated a little. I put in an order at 0845 cst this morning to buy at 1273 and was filled. I don’t remember what chart I looked at to figure the R was at 1272.50, I can see now that it is more like 1274.50. I put in a sell order at 1275 and got out at 1275.25. The price went up to 1277.2 and pulled back. I figured that was R so I put in an order to buy again at 1277.5 and was filled. I put in an order to sell at 1280 and was filled. After looking again at the chart my good fortune was probably due more to beginners luck than good management.

    4re these are trading all night apparently, the TOS charts are showing prices for them. I would think that your entry prices would be best selected in the AM. Do you consider my second trade to not be justified? I would be interested in hearing your comments on what I did.
     
    #654     Jun 1, 2006
  5. pkts

    pkts

    I don't really see that channel, can you show it. Of course, I can see it now! :D

    I didn't take the trade either. I always get burned in the last hour of trading and didn't think it'd go up into the close. Perhaps I should have let the chart decide for me. With so little overhead resistance, 3 pts would have been easy. I had a limit for 1283.75, it wouldn't have even set off a 0.25 stop loss! :mad:

    Still, I'm improving my discipline. Before, I would have jumped on the trade for fearing of "missing out". Oh well. Tomorrow's another day. Messed up the charts for an easy pop for tomorrow.

     
    #655     Jun 1, 2006
  6. pkts

    pkts

    For tomorrow, I can see a possible long target for 1292.50-1294.50. But short target??? In my eyes, the rise today was very orderly with few gaps. Will be interested to see 4RE's take.
     
    #656     Jun 1, 2006
  7. monti1a

    monti1a

    My S/R numbers for the E-russell:

    Long above 745
    Short below 706

    Any comments greatly appreciated......
     
    #657     Jun 1, 2006
  8. can anyone tell me what the term "kiss of death" means in regard to chart formations..........
     
    #658     Jun 1, 2006
  9. K-Rock

    K-Rock

    sandygray66,

    Did your filters keep you on the right side of the market today?
     
    #659     Jun 1, 2006
  10. frugi

    frugi

    Porgie,

    Kiss of death is when sup / res / "trendline" is penetrated and then the the price returns to "kiss" it from the other side, fails to break through, then continues in the initial direction. Basically support becomes resistance or vice versa. Test is a more prosaic word for it (although test encompasses several other scenarios as well).

    This is a fairly poor example ...
     
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    #660     Jun 1, 2006
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