lurkerlurker
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Absolutely. Silly call. My bad. Nice downtrend today. I don't suppose it is ever too low to short. I'm still looking for the 200 point drop before I can come out of bearish hibernation.
Anyway, keeping an eye out for one of your "stopping bars". Looks like a low close today, though we shall see what the evening session brings.
My observations: NYSE Tick just made a higher low (5 min). There seems to be more lots trading at the ask, and more volume on the ask side.
Strong support around the 70 level on the hourlies, but failing that a drop to 50 could happen in short order.
As I finish typing this, TICK has taken a sharp downturn, and there are a few dozen lots hitting the bid.
lurkerlurker
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Was that a gap up on the 5 min, or is my feed dodgey? (70 to 64)
Furthermore, I'm quite annoyed to note (and I've not noticed this while backtesting as historical is free) that I don't have RT access to the ES on OpenTick. CBOT minis are free, but I need to pay exchange fees ($15/mo) for CME data! I've already had to fork over $1/month for NYSE fees (for tick). So much for charting the ES with the YM. Okay, its around £8 a month, but I don't intend to make breakeven any more difficult for me.
Furthermore, I'm quite annoyed to note (and I've not noticed this while backtesting as historical is free) that I don't have RT access to the ES on OpenTick. CBOT minis are free, but I need to pay exchange fees ($15/mo) for CME data! I've already had to fork over $1/month for NYSE fees (for tick). So much for charting the ES with the YM. Okay, its around £8 a month, but I don't intend to make breakeven any more difficult for me.
Pat494
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Now why didn't I listen to ........myself ahhhhhhhhh
Getting it wrong fairly regularly on the markets can take a toll of one's self confidence -
ah well next time
free4440273
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...be great to see a rally actually, towards the close. then short again
lurkerlurker
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Shorting a rejection of 600 could prove rather lucrative. Okay, how shall I determine a rejection.
How about no 5 min candle closing above 600, lower volume, failure of $TICK to make a higher high...oh forget it, I think the uptrend line has just been breached anyhow.
How about no 5 min candle closing above 600, lower volume, failure of $TICK to make a higher high...oh forget it, I think the uptrend line has just been breached anyhow.
lurkerlurker
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...be great to see a rally actually, towards the close. then short again
I remember you - are you still short YMU7? From what price? Are you thinking of covering that anytime soon?
lurkerlurker
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Volume is drying up on the 1m. I don't see this going much higher.
lurkerlurker
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Short 90.
lurkerlurker
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Am I correct that most institutional trading is done in the ES rather than the YM? I can't see anyone being able to trade with size in this market (for example, 100 lots at a time).
free4440273
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lurkerlurker
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...short closed today on the downturn. pathetically measly profit +20
I'm truly pleased for you. Not only did you take a profit on one of your first trades, you avoided getting badly burned. Good trading.
lurkerlurker
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I had a sell limit set at 97, and it didn't quite get filled.
well that held the Dow up...too much volume though so back down for retest
lurkerlurker
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Was he still heavily short?
lurkerlurker
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Stops at breakeven. Short 2 YM contracts, average 93.
could be very nice trade...
lurkerlurker
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Stop moved to +5 at 88. Volume expanding, Tick failing to breach zero. No interesting divergences to speak of at this point. Trading off price and volume, I'm wanting to hold this until at leat 70, where I will consider exiting half.
lurkerlurker
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Yes, and hopefully I can buy myself a nice paper Chinese with my paper pips and paper bucks!
My second short at 96 was quite close to the top, although my initial short at 90 was a touch premature. I'm liking this Tick system. I've traded twice today on paper - once at a 3 pip loss, and once now. May end the day with positive pips!
