Thanks Mo, but I can't take credit. The trading strategies recommended for trading the "Ball" is where I got that money making piece of wisdom. I just love it when a plan works as it should.
good pt MO...the ball called for "strongish"...the pm action in MY book was definitely NOT strongish...so I guess its a bit like the Bible...how you chose to interpret it.
Amen Brother ps. from the 2:30 low the action definately wasnt weak, and strong might be too strong of a word for it, but the term strongish I believe nails it. It made for a good trade if played right.
The day in review, the mighty "Ball" called for a Weak AM session which didn't work out. The afternoon session though,from a trading perspective nailed the forecast. Click below for today's chart which tells the story best. Note when the low was made, and then moderate Up-trend that followed.
William, like you I hit my protective stop in the AM. I made it all back in the PM with the Inside day strat that had me buying the 2:30 low. It was just barely a "base hit" but boy was it a sweet win. All in all it was a tricky day to trade having to disagree with austin, mschey was spot on. BTW, The call was something to remember. Have a good evening gents. MS
I didn't mean to offend anyone with my earlier post saying that today was easy to trade in the eminis. Fact is, no such thing does exist when real money and emotions are intertwined :>) That said, the indexes are in a defined uptrend all week long. As of yesterday, both the ES and ER missed hitting their daily pivots for two consecutive sessions, something that happens less than once per month on average and only in a strong trend. Only once - twice per calendar year do the eminis miss hitting the daily pivot three sessions in a row inside pit session hours. * When both symbols pulled back into pivot support this morning in unison, they also hit other layers of key action points as well. It was a high-odds buy signal to take... pull back with the prevailing trend. Once in, let 'em ride from there... every trade I take is expected to go at least +4pts ES / ER, and many of them do because that's how the markets work... they make directional swings greater than that almost every day. ** In the afternoon, ES went up and tagged its R2 value while ER lagged. That is a key sign of weakness when ER does not lead or confirm the ES. When both of them started breaking down thru a series of support = sell signals after 2.5 sessions straight up, the odds of probability for some type of tradable retracement seemed favorable. Maybe this type of price action is out of synch with other trade tactics that work great when I struggle... but today the ER rose +8pts in the morning and declined -7pts in the afternoon. The ES likewise rose +9pts and declined -7pts in the afternoon, in rather orderly fashion. The tactics I use like that kind of intraday action, I never meant to infer anything other than that :>) This is my last post inside Rennick's thread about my trading. I'm here to see how the swami handles his crystal ball reading each day... the scene-setting description is actually the gems of entertainment I enjoy most. If I could ensemble words together like that, I'd probably be a book author instead of emini trader (laugh) *** My paternal grandmother was old-country Sicilian, a workaholic and one of the greatest givers I know. She always said, "When the sun shines, it shines for everyone". Here's hoping that happens for all emini traders in Friday's session & beyond! Best Trading Wishes, Austin
hey austin, your rap seems interesting , at least it sounds good, everything is soooo easy. i think it's all hindsight 20/20 post game though. i know its takin a chance but why not post some stuff before it happens. payoff could be big. the "chyrstal ball" some of us use is putting it on the line. i know this et forum can be a rough place, but for the most part we as a group get it right. bruttally honest feedback. if its good you get a pass, if it sucks or is bs, then watch out. sorry have to agree with mschey, start your own thread. take a walk on the wild side. one more thing, your last post said uptrend all week, but the latest public video you made said downtrend most likely for this week. i hope i caught that right, if i did when did the outlook change
i wasn't around to trade today and just saw the "balls" call. dude, that was unreal,damned. cool to see how your countertrend did what it was told to do. so it said, so shall it be (lmao)
Caddy, I'll start a thread next month, or when life returns to normal. My girlfriend - personal assistant - right hand everything is broken and on the mend... life is totally upside down right now. I won't be posting any live calls in any online forum: retired my live room after exactly four years of operation to unshackle myself from those distractions while trading. Sure do miss the friends there, but I'm either twiddling thumbs waiting for setups to confirm with too much time on my hands, or too busy with my hands managing trades to post anything anywhere on the web. I will post real-money trade details when applicable. The reality is I'm not trying to prove anything to anyone. I'm here to socialize, have fun and contribute positively where I can. Simple as that. Everything I posted earlier here is true, plainly apparent on any of our charts (pivots, R2s, % hits per month - year, etc) and quantifiable on any charts. That's all pretty basic stuff to gauge price action's pending direction from... similar to trend line breaks, 1-2-3 breaks, etc. None of it is actual signals I take, but more of a roadmap to gauge probable action next. Last weekend I guessed that this week's trend would be down, which was obviously 100% wrong. That's also why I'm a pure intraday trader at this period in time, I find it much easier to read the short-term tapes and go with its flow. That flow has been clearly upwards for 2.5 days, and buy signals all the way from Wed morning to Fri morning existed in our charts. Probably the massive index put-option open interest disparity had a lot to do with this? Unlike Rennick, I have no crystal ball. I'm purely a read & react trader, with no opinion or clue on what may come next. That goes for my trading and life itself... all the best laid plans never come to fruition as expected. The only thing I know for sure is that I'm going walleye fishing all night on Friday. What happens in the market before then will be a total surprise to me :>) Best Wishes, Austin