8/24/2006 0918 My, my, my... the BoBs looked pretty good last night. Price hit 129400 (BI or S1) around 0330 and bounced hard - paused to run sideways at 129750 (PP) - then on up all the way to 129900. Then the Bond Openers ran it on up near 130100 (AI or R1) at 0830 - then it bounced back down to 129700 (PP) and bounced up again, not quite to 130000. Little bit of real work to do, then onward... O-Tay! I just got done tending the wheatgrass, kissing my favorite wife off to her work, and zipping through the crossword, jumble, and crypto-quip, to get what's left of my mind percolating, and I'm ready to do some tradin'! Right this very instant (0932) ES is trading right on the PP at 129750. It's done the expected thing since 0330, which is that it went down to the Support, bounced off, back to the PP, stayed there a while, then up to the Resistance, bounced off, and now back to the PP and running a bit sideways. ENTRY: +129650 / -129800 The only thing that matters, as I see it, is what's going on with the price in the context of the amount of time you want to be "in" a trade. My desire is to trade a few times a day - maybe three to five. I also have been avoiding the period before about 0930 and from 1100 to 1300... so that leaves 0930 - 1100, an hour and a half, and 1300-1515, two hours amd change. So, all things taken together, my trade time needs to be under an hour if I'm to get three trades made. I don't want to insist on three or more trades (and yesterday's next-to-last trade was a stinker), so I'm willing to go longer as long as it's profitable and improving. Just looked back, and N-T took me into a trade a couple of minutes ago: 0937 +129650 ST 129950 -300 BE 129550 / 129625 +025 T1 129350 / 129550 +100 Follow 200 T2 129150 / 129450 +300 Follow 100 T3 128650 / 128700 +950 Follow 050 I'm not real thrilled about this one - volume is decreasing, which points to a potential change, so I won't be too surprised to see a BE here, and I may dump it before the stop... let's see. 0950 Well, dammit... same thing that happened yesterday on the stinker - it went 075 the right way, and missed the BE trigger by one tick... at least it hasn't gone too far wrong, so we watch.
Some folks call it Far West Texas - the Trans-Pecos - the Big Bend. I call it Texhuahua. You start seeing signs along the highways welcoming you to West Texas right after you hit the Fort Worth City Limit headed west... then you drive four or five hundred miles before you get to my house. You?
I am in the Dallas area. But I know Pecos very well. Kind of between sand and hills and very hot. I was raised in Abilene.
Speaking of charts, pull up a VXO or VIX. Put a Horizontal Line at the Previous Close. What's it tell you. Now extend that chart back for the last 10 or 15 trading days. See? See the past? See the Future? Thanks man. JJ
I'm about a hundred miles from Pecos - mostly south, but a little west. A mile high, on the eastern edge of the Great Chihuahuan Desert. Dry, but not too dry. Couple of weeks of hot, couple of weeks of cold every year... pretty nice the rest of the year. I don't haver A/C, just ceiling fans and an attic fan. My short at 129650 has FINALLY gone right... whewww! 1106 129450 with a stop at 129550 for +100
1107 FINALLY... I wasn't sweating it too hard, because I wasn't looking most of the time - Ninja-Trader seems to take care of the entries and exits pretty well as long as I set it up properly. 1109 129350 + 300 Stop 129450 +200 Follow 100 I have half a mind to bail right effing now and cruise the rest of the day... but I think this can go on down to 129100 or a little less, pretty easily... we'll see... I'm gonna let N-T handle it, and if it takes me out at 9450, so be it.
... I see price action and understand it in terms of color, so all of my charts have different color schemes based on that price action. This way I can react instantly when I see the change in color ... all of the thoght processes were done way before hand (like at 3am ET ... for weeks ... and weekends!), so I don't have to think about any trade I enter. I just push the button. Great story. JJ
1118 Out at 129450 The price ran right along my BoB (Bounce or Break) line BI (Below, Inside) at 129400 for several minutes before finally bouncing. My stop at 129450 was executed. Trade summary: 0937 +129650 1118 -129450 Result +200 1 contract: Gross $100.00 Commissions 4.52 Daily System Cost 15.00 ---------------------------------- Net this trade: $80.48 Net for day: $80.48 I'm not unhappy with this. As I indicated in the beginning, my goal is to average about 200 (basis points) a day and trade ten contracts. At that level, this trade was 10 contracts: Gross $1000.00 Commissions 45.20 Daily System Cost 15.00 ---------------------------------- Net this trade: $939.80 Net for day: $939.80 *_*_*_*_*_*_*_*_*_*_*_*_*_*_*_*_*_*_*_*_* I don't usually trade during the lunchtime - it's usually running mostly sideways. I keep the hi/lo for the period from 1100-1300 (Central) and look to trade if and when those extrema are broken after 1300. I'm outta here for a couple of hours... Buena Suerte, traders!
08/24/2006 12:56 Ahhhh... homemade enchiladas with beans from scratch (not out of a can, soaked overnight and slow-cooked), salad with local farm lettuce and tomatoes from the garden, and a two ounce shot of wheatgrass juice... can't beat it! BUrrrpppp! Let's see, whatta we got? 1100-1300 hi/lo is - 129700 / _ 129350 Sayyyy... isn't this where we came in? Aren't these the same actors? Where's the Masked Man? SO... PP is 129750 and BI (S1?) is 129400... so it's bounced on the down side, and... 1259 It's trading at 129600 My entry on this is going to be conservative... +129300 / -129800 Although... my "what the hell, on paper" trade right now would be to short it if it hits 129700 and bounces back to 129600... 1303 ooops, maybe I should press the "submit" button now?? We wait...
If I could figure out how to make Ninja-Trader do that, I'd add it to the setup right now - I gotta ask Vince if it can be done? I think this kind of programmability is in the works but not in the current release, but ya never know - If you don't ask, you don't get.