Thanks for the reply. Do take the trouble to get those 12 charts I made. Tomorrow is just the first day of the rest of our lives. We can start there. You actually are at a very good place and I am here too. We can nail this down tomorrow. Look over my posts. I am making a best effort with each day as it goes down. By posting a little ahead of time todayI wanted to let you know what's on my mind for the different levels and what looked most probable to me. Aside from the global scene, we all have to take what is in the space and work with it. It would be neat if we didn't have the global overlay going on..it is so....whatever..... The neat thing is that the markets can be very informative to us all the time. With all this background crap to choose from, we get an excellent chance to use our stuff to just cut through everything there is. Because it works day in day out and all the time, we get to do the job. It is not important to prove how you can get from beginner to expert. The range of income is different for sure. But an old beginner (meaning lots of days in the groove) is making a lot too because he is doing 25 contracts in each rocket. for the icebergers it was a terrific day. there is something in the math that is soo sweet when the market attidude is long. You just can't break that 20....LOL..... the money velocity is almost like being at a stop sign or LA in the rain on a hyway. But the fact is you can creep. After a few month of iceberging you can do the 25 contracts at intermediate too. We did a more than 10 point creep up today. That is enough for 25 contracts to give you 250 point which is a little over the margin requirement for a contract. So here is what is going on for you. Fear is there it turns out. Think of the 12 charts I did. couple it with the post i did in the Trader's block thread. I did a four stepper there. The four stepper is kewl. Let me make a little note first. I have been recruited by depts of psychiatry here and there. I do read a lot of the posts here from a particular viewpoint. The four stepper is a deeply founded technique to shake the crap out of a person by doing it unobtrusively. read trader's block. I couldn't get connected to the author except by a ploy that I did. The ploy was to ask her a Q that didn't matter to what I wanted to do. I was enabled by her when she answered. I did something to get her to do something that she wouldn't do on her own. I wanted her to read aloud many words in groups and then just get on with things after that. Look at her posts the day after. Just consider something here. She isn't ever acknowledging what happened to her. Who cares if she does. But look at the behavioral change she takes on.by reading her own words. Okay. I keep piles of four stepper sheets here. When I mentor people get a pile of them. Smile and laugh about it. They do. I am so ridiculous that they spent almost all of their time in debriefing filling in sheet after sheet. They do it for each and everything that they say to me that is contrary to their desire to progress down the road. Say I am at a house warming. The new owner says. I made 1.7 million dollars net in one day with Jack. This guy can't remember how many foursteppers he did. BUT I can remember helping him bring 40 milk cases of 78 records into a room in his house where he rerecords them on tape and cd's as a hobby. What you can see here is that people change in a lot of ways. they do their thing through life. They really get empowered to do anything if and when they deal with themselves. So make a pile of four steppers. What you want is in there somewhere. Every time things need adjusting do it with a four stepper. What you are going to have happen is this: You are going to subconsciously deal with stuff and it is going to be a heck of a lot of fun. Today was a neat day for using stuff in the incomplete state that it exists. What we are doing is just making money with a way that is good for people on any level they are on. Iteratively a consciousness manifests that builds on a foundation of success. It keeps reinforcing. People show up at any point in their transition to being rich. Everyone releases themslves to starting to make money as and when they desire. fortunately the marketplace has an abundance of items, tools and supports for everyone to be rich. So here we go!!!!! You are going to like this. If you want you can print up a chart from late yesterday through the end of the day and just mark it up for fun.
Well returned from vacation and today really sucked. I am going to start fresh and just take it like a beginner. As always, feedback is welcomed. My beginner trade ENTRY criteria both lines above 75 or below 25 and a MACD Hist reading +0.4 or -0.4. Exit: look for stoch above 25 or below 75...also look for MACD XO after a rocket is entered for my exits. (if this is diff. than anything jack has said please let me know-thanks.) Also, working on putting 1-2-3 pts together to keep from getting shaken out when stoch barely gets below 75 or 25 after a setup and then reverses...work in progress. Here are my trade signals for today: 1. (a) 9:50 stoch(9.68, 26.88) MACD Hist: -0.72 - maybe a little picky but wasn't below 25 so i waited.... (b) 9:55 stoch(5.13, 15.69) - good signal. looking for short on break below low of bar...never happened NO TRADE. 2. 10:25 stoch(89.74, 77.78) macd hist: 0.85 - good signal. looking for break above high of bar...never happened NO TRADE. 3. 12:00 stoch(15.00, 22.79) macd hist: -0.5 -good signal volume low (5,138). looking for a break below low of bar....never happened. NO TRADE. 4. 12:30(15.00, 23.33) macd hist: -0.09 -not sure to think of this signal as a continuation of the prior failed rcoket b/c there was no GOOD MACD HIST reading and volume was pathetic....either way did not break below low of bar. NO TRADE. 5. 1:00(93.75, 75.83) 12:50 MACD hist:+0.4 -volume again was low. entered on break of high of bar 863.00. 1:20 stoch(73.68, 78.95) and 1:25(73.68, 75.44) macd was prezeling and volume stinking and fed looming i exited flat long: 863.00 sell: 863.00 p/l: 0.00 6. 2:00(3.85, 14.14) macd hist: -0.71 -right before fed, but never broke below low of bar so NO TRADE. 7. 2:25(6.25, 21.31) macd hist: -0.60 -entered on break of low of bar 858.25. 2:35(41.67, 17.82) exited when high of this bar was taken out at 861.75. short: 858.25 day: -3.50 cover: 861.75 p/l: -3.50 8. 3:45 there was good stoch signal but no macd hist signal until 3:55 bar. 2 trades -3.50 total. 1 loser, 1 flat. today felt very difficult.
Dawg, From my beginners perspective, you did well to escape with a minus 3.5 . For me, it seemed like the "Rocket strategy" was just picking tops and bottoms during todays session. The reversals, however, looked like they would have worked out, but that part of the strategy is not in my tool belt yet. I'm gonna fill out a "four stepper", examine my "washing" technique and start anew tomorrow. good luck
It was an absolutely lousey day except for formations. The formations were classic and worth saving. Congestion to convergence to centering and a bracket failure to BO. The volume continually declined to centering. The light unsustained volume was a perfect BO failure. For experts it was a slalom day. The PM volume was there as the MACD was on neutral and over 30 min after the BO failure to BO. The MACD never did give a BO signal and divergence. All this is complimented by the Stocs traversing the band with little price variation (a relative % type charactristic) Some normal end effects at the end of the day. Personnal comment. Don't expect to trade during a 48 hour mandate like this ever. Dawg's post reads like skilled clockwork here. The no trade situation is so important to have down. Just as important is the wash exit when no trend appears. The BO after centering is a class failure to BO and the lack of sustained increasing volume is the "flaw" that was being looked for. When yoiu set your bracket spread on the center of the centering, you simply keep the spread "outside" the failure price range. The fact of the matter is that doing "not trading" perfectly is just as important as trading. I am posting on this stuff where not trading is just as important to explain as trading. We are still in the groove on a day like this by not trading as we are when everything is going our way. Tampa, dawg et al each makes good tracks in the sand as they go from here to there. You only go through the transition once. For whatever reason it is just like after you have it down it's hard to explain to anyone. Like landing a glider is hard to explain.
I was looking at Jack's beginner entry stuff today and never saw anything that resembled a 'rocket'. Amazingly flat MacD today. g
well if i am going by the definition of a rcoket: macd hist above/below +/- .4 and stoch above 75 below 25. there were several reading as noted in my post. If no one esle had these reading let me know b/c my indicators are messed up then.
I have no where near the amount of volume you showed. Are you using total volume? I'm using just the volume for the 5m bar in the ES H03 contract and show a volume of 92 at the close of the 11:00cst 5m bar. I can't reproduce the numbers on the stoch or the macd that you show either but they are reasonably close. Are you using the 14,1,3 stoch for your entry? Also see that you are buying/selling the high/low of the previous bar. Maybe this is why my account is showing such a negative balance... I thought it was enter the instant you get the signal and exit the instant you get the other signal for the beginners. Are you using the high/low of the 5m bar for entry or do you use the 1m bar for this?
you are using the wrong contract. you should be trading june es03m. that may be the reason for the vol problems. my setup qcharts 14,1,3 stoch 5,13,6 macd i wait for the 5m bar to end and enter above the high if long and below low if short if we are all using the same settings whouldn't we get the same numbers? or could the programs be calc them diff?
So you are using the high/low of the previous 5m bar for the entry? I wonder where I missed this bit of information... Yes I'm using the March contract. Will be going to the June directly... When I was trading OEX I made some really good moves just before the expiration and thought the ES contracts would react the same, maybe not. Now I know why we have different numbers, different contracts. Yes, the numbers should be calc'd the same if we have our parameters set the same. My program shows the ending of the period for the time rather than the beginning of the period so I have to remember to back up one bar when comparing numbers. This, they said they were going to change, as I'm not the only one that has mentioned this.