I washed out on the reversal price that took me in on being stopped out of short original entry. 13 min stall 1 point wide. 1.2 loss on price and comms as well for bunch of contracts. Volume is providing 2 point plus H/L range for congestion. we have FBP to atart next week. It is sitting on the S.
After studying the bracket tools this weekend, I can see now where the brackets prevent distortion of vision on the chart. The am brackets would have kept me flat on 8/1, until it was time to re-establish the brackets pre 13:15 session. Very, very valuable tool.
Pre open flight check Before open look at the picture. NC means no change a. do 5 min chart viewing. Our range is 1005 to 975. This is 10 points wider than Friday. Monday s light day in summertime. b. Volume is scalloped and working for thurs. We din't get pm side of scallop on Friday. All friday market indicator volumes were very light on Friday as well. Expect Monday to Be like Friday with light volume start up. President is vacationing this week and next 3. c. last four opens are all different. BUT ONLY two GAPs. A retrace ended day calmly. We closed in congestion Friday. center was 981 flat and we had 3 pt bracket off that. Always get off flat values by 1 to 2 ticks. I was bracketed off 3 on Friday and did not say to be away one tick further. d. The rockets, if any are short ones Notice that with the existing S/R we have good spread (30 points) for rockets. I am using the thursday -friday short run as an example of what is possible. Several people knew that they could resume that trend on Friday am. Assume congestion will continue Monday and have brackets ready. Drop the center to 980 flat to be best prepared. repeat comment: As long as entwine holds you stay in rocket on this lower volume situation. Entwine prevails over other stuff; let it dip into 20/80 band. Watch to see that rockets can follow opposite rockets in this medium H/L market. e. Icebergs stink. There is no hustle anywhere to allow me to stay in icebrgs. For this market we start summer ice bergs. When you exit an iceberg do it as a REVERSAL. that way you can continually iceberg from now on. Rocket comments will set up an iceberg as well. f. 11:00 for last few days means midday shut down. NC This is always going to be the same. g. 13:00. I can make a buck everyday on a BO around 13:00 plus. Bracket time for sure every day. NC since it is Monday and I posted a friday end of day entry that was very low volume, consider this as a possibility for Monday pm. H Slaloms. Experts only: Count on slaloming. Slalom out of sync on brackets. Be prepared to slalom on the pm BO's (See g.) NC i EOD let broker take me out as usual. NC NC means no change. Keep stop logs rolling. You will be seeing more periods of NC on the values. deep summer is in effect. I maybe under the weather at open.
I did some posts as bubba7 this weekend. Several are expert keepers. I will get them in the journal later but print them now if you can. One mentioned voting in the chit chat poll. Thanks to all my other aliases for voting. I am a little tired of being called a fraud.
We are warming up for Labor day. THIS IS AN IMPORTANT POST I want all intermediates to 1. shift to the 5, ,2, 3 Stochastic. 2. Link all trades from now on. 5, 2, 3 gives you "change" signals and it is "backed" by MACD sequence. The MACD sequence xover (third signal) is the most conservative to use. The 2 in the 5, 2, 3 is a smoother so do not reverse (this is the technique to "link"-- exit then enter) with a hair trigger. 3. Stay on the 5 min. 4. Be sure to do channel point 1, 2, 3. and new piont 3 if it is there. 5. Offset stops(REVERSAL STOP) are 4 back at all times. All stops are reversal stops from now on as well. If the channel you are in (and it will be wide one) goes into a midday congestion, convergence and centering, you will find your successive stop log ntries actually move you right up to the centering value off set four. Now get this: this is an automatic bracket for CCC. If the BO comes and the trend resumes you are in. If the BO is opposite the trend you reverse on the stop being hit. General comments. By linking the exits and entries I am taking intermediates to continuous trading. You make money slowly and steadily from here on in. This is where we step out beyond the daily H/L range value. I know that there is in ET a mental ceiling (See posts by girlpower on this and all her other subjects). We will be applying a coeficient to the H/L daily range and it is greater that 1.000. The last round of crap by baggerlord (vote today on his new poll, to get it past 50% because I am tired of the fraud business) and electron(wi9ll be starting jounal on 5 set ups soon) got responses showing several people here are getting to two digits per day on points. 10 points a day in the summer is terrific during a start up transition in becoming an expert trader. Note: I will be posting beginner/intermediate charts in the jounals of these guys for each one they post. Baggerlod flipped out of ES into YM on a 3 minute (not recommended). So If you trade YM you will see how to use this stuff (without stoc, even --until he adds it). I checked out the five set ups electron will be using; they overlap baggerlord. This set of 5 elements for intermediate linked trading continuously is a big step to KISS. The experts here already have this going and are slaloming inside the channels at times when flaws take them to "change". The intermediate linking is invoking "change" just at trend ends. When a new trend resumes, the intermediate is just going through the stop log and being 4 back as a conservative stop. This offset puts you bach into "continuation" mode as a de facto setting. This is an important posting. I am slipping in comprehensive important posts elsewhere as well. All are in specific response to ET people who are making strong efforts to contribute substantive content to ET in very important focussed themes. Be cause MM has really messed with a lot of niave people here, I am burying his investment appproach with tabulations of it's self destruction now that it is in acceleration towards self destruct. I do not think it is fair to let niave people get any ideas from approach that are fragmentary. Attached is a YM chart for the two trends of the day.
attached is a YM chart. Good for about 500 points on 9 trades as intermediate trading in two channels Three trades on short channel and six trades on the long channel.
See the chartreuse on the 5, 2, 3. The entry on 5, 2, 3 sets you up for linked trades. For risk control beginners stay on the Stoc14, 1, 3, please. we only trade fast trades on "over whatever". Several of you can move up to multiple contracts by now as well We want by labor day to have the SCT* on the ramp to make use of. *SCT = seamless continuous trading.
I was a strong proponent of MM when I first got here. But as I continued to trade with it, I did notice that it has a SEVERE continuation/reversal flaw. That is why I came to you. Solving the problem of lateral trends as completely tranformed my trading. Can't wait for you commentary on this material.