tradesmart
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My friends call me Daphne, so can I be a traderess too please CM…..?
and sexist replies will be taken note of…….
(must stop winking……..)
Well, as noted yesterday, the channel break target suggests that 10690 or more may be in the sights, and now as confirmation we have a 90 point triangle with a potential breakpoint at 10600…….!
Probably more than coincidence imho…..
But the NF Payrolls data at 13.30gmt will be calling the shots today –if it’s a downside shock, it could easily tank the market……but current indications seem 'upside'.......dollar strengthening for one thing.....
Futs now up due to the positive Intel Q4 update…..
and sexist replies will be taken note of…….
(must stop winking……..
) Well, as noted yesterday, the channel break target suggests that 10690 or more may be in the sights, and now as confirmation we have a 90 point triangle with a potential breakpoint at 10600…….!
Probably more than coincidence imho…..
But the NF Payrolls data at 13.30gmt will be calling the shots today –if it’s a downside shock, it could easily tank the market……but current indications seem 'upside'.......dollar strengthening for one thing.....
Futs now up due to the positive Intel Q4 update…..
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afternoon- Long for exit at 622 = +24. But worringly My Pro Realtime chart on trial does not show the same numbers for RSI PD at open, which means a shallow ,hardly noticeable rise in RSI. Only parameters available are set to 14 and Close.. ? CM's chart shows (C, 14, 1, 30, 70, 1). Is it the 1's that are amendable parameters in Sierra Charts..? Perhaps thats the difference..?
Nice move Justyn, i was looking for that short but couldn't commit.
2nd Long 10573(incl spread) at 19.00 . Not sure how i could have seen next bounce at 10562, maybe should have waited for 3rd peak downwards but afraid of missing the run up, any ideas ?
Exit at 10582( too late should have used ND) at 20:07 for + 9 .
My friends call me Daphne, so can I be a traderess too please CM…..? Quote Tradesmart
Hey CM maybe you can meet him halfway & call him Chief TraderLadyBloke :cheesy:
By the way Tradesmart like the Traingle theory , my book has limited triangle analysis can you point me in the direction of your learned theory dear chap..? (I mean the degrees/geometry of it)
Good trading to all.
Nice move Justyn, i was looking for that short but couldn't commit.
2nd Long 10573(incl spread) at 19.00 . Not sure how i could have seen next bounce at 10562, maybe should have waited for 3rd peak downwards but afraid of missing the run up, any ideas ?
Exit at 10582( too late should have used ND) at 20:07 for + 9 .
My friends call me Daphne, so can I be a traderess too please CM…..? Quote Tradesmart
Hey CM maybe you can meet him halfway & call him Chief TraderLadyBloke :cheesy:
By the way Tradesmart like the Traingle theory , my book has limited triangle analysis can you point me in the direction of your learned theory dear chap..? (I mean the degrees/geometry of it)
Good trading to all.
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TraderTony
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Friday 3rd December 2004
Major problems with connection between front end and broker after the early price spike at 8.30 - unable to trade so far.
OK, finally connected at 15:25 so missed all the run up and then back down again but I'm not sure I would have actually managed to get in anyway.
10:38 1) L 10590. PD off pivot. Looks good. Spoke too soon - very erratic. And stopped out.
10:41 EXIT: -10. Horrible first trade.
Then missed a fill on the triple PD entry at 10:52 for a perfect 10 (and many more). I was distracted and then too cautious to chase once it had already moved 5 or so in my favour. Damn. Well today's not exactly going well so far.
12:13 2) L 10619. Not much movement here but possible pull back up off 100 ema (somehow missed the earlier one which came good). Moving. But unable to take out swing high at 27. Twice.
12:21 EXIT: +5 on failure to break through in quiet action.
Then take a few minutes off and miss the entire break to the downside. One of those days. Excellent re-entry opportunity at 12:57 (10596) for the drop to the low if you missed the first breakdown (which I probably would not have taken).
13:58 3) S 10589. Another possible breakdown off 100 ema. Moving, but not real follow through.
14:04 EXIT: +10. Not a day for pushing my luck so took the 10 when it was offered. Lucky I did as it has sprung straight back up.
Well, three coughing kids meant we had no sleep last night so I'm throwing in the towel now at 7:30 UK time (14:30 est). I missed two good entries (as well as the first hour) and that has cost me dearly today.
+5 from 3
+2 for the day after commissions
+51 for December so far after commissions (3 days of trading)
It's frightening how quickly the daily average comes down isn't it!!
I'll post charts over the weekend.
P.S someone sent me a PM about charts etc which I was unable to reply to - again, I'll post the response here over the weekend.
Night all and have a great weekend.
Major problems with connection between front end and broker after the early price spike at 8.30 - unable to trade so far.
OK, finally connected at 15:25 so missed all the run up and then back down again but I'm not sure I would have actually managed to get in anyway.
10:38 1) L 10590. PD off pivot. Looks good. Spoke too soon - very erratic. And stopped out.
10:41 EXIT: -10. Horrible first trade.
Then missed a fill on the triple PD entry at 10:52 for a perfect 10 (and many more). I was distracted and then too cautious to chase once it had already moved 5 or so in my favour. Damn. Well today's not exactly going well so far.
12:13 2) L 10619. Not much movement here but possible pull back up off 100 ema (somehow missed the earlier one which came good). Moving. But unable to take out swing high at 27. Twice.
12:21 EXIT: +5 on failure to break through in quiet action.
Then take a few minutes off and miss the entire break to the downside. One of those days. Excellent re-entry opportunity at 12:57 (10596) for the drop to the low if you missed the first breakdown (which I probably would not have taken).
13:58 3) S 10589. Another possible breakdown off 100 ema. Moving, but not real follow through.
14:04 EXIT: +10. Not a day for pushing my luck so took the 10 when it was offered. Lucky I did as it has sprung straight back up.
Well, three coughing kids meant we had no sleep last night so I'm throwing in the towel now at 7:30 UK time (14:30 est). I missed two good entries (as well as the first hour) and that has cost me dearly today.
+5 from 3
+2 for the day after commissions
+51 for December so far after commissions (3 days of trading)
It's frightening how quickly the daily average comes down isn't it!!
I'll post charts over the weekend.
P.S someone sent me a PM about charts etc which I was unable to reply to - again, I'll post the response here over the weekend.
Night all and have a great weekend.
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FRI 3 DEC
11:31 ENTER long at 10606 (ema-10599, sl-10579). Enter on PB to ema.
12:39 Dow crosses ema at 10610. New sl-10590.
12:48 EXIT at 10588 for a loss of 18 pts. There doesn’t seem to be any consistent direction.
One trade -18 pts (excl costs). That’s it for today. I think I will get crucified if I follow the rules i.e. enter on cross and PB to ema, with a stoploss of ema+/-20. This seems to work great on trending days (like Mon and Wed), but I’m not sure we have enough of them to come out profitable in the long run. It has been an interesting week.
Have a good weekend everyone........
Debs
11:31 ENTER long at 10606 (ema-10599, sl-10579). Enter on PB to ema.
12:39 Dow crosses ema at 10610. New sl-10590.
12:48 EXIT at 10588 for a loss of 18 pts. There doesn’t seem to be any consistent direction.
One trade -18 pts (excl costs). That’s it for today. I think I will get crucified if I follow the rules i.e. enter on cross and PB to ema, with a stoploss of ema+/-20. This seems to work great on trending days (like Mon and Wed), but I’m not sure we have enough of them to come out profitable in the long run. It has been an interesting week.
Have a good weekend everyone........
Debs
tradesmart
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Dear who......?..........
Gollum (aka Smeagol.......?)
I’ve learned most of the t/a I know from CM’s daily analysis/guidance and thanks again to him for that…..!
He regularly marks his charts with triangle/flag targets, so that’s the best way to pick it up imho…….
Hi Tradesmart - just checked your profile for first time . Now i am confused. I will pry no further my friend
Gamble entry for me at 10631 (incl spread) out quickly for 10640 + 9 but i am not counting this as used market entry & demo acct. Methinks live outcome wld be different.
entry 10605 at 16.30 but quickly out at 10609 as fails to materialise + 4
gamble entry 10577 after Madrid bomb blast at 18:04 . shoddy exit at 10591 + 14
good w/end all.......G :cheesy:
Gamble entry for me at 10631 (incl spread) out quickly for 10640 + 9 but i am not counting this as used market entry & demo acct. Methinks live outcome wld be different.
entry 10605 at 16.30 but quickly out at 10609 as fails to materialise + 4
gamble entry 10577 after Madrid bomb blast at 18:04 . shoddy exit at 10591 + 14
good w/end all.......G :cheesy:
TraderTony said:
TraderTony, do you use IB? I was unable to access them for the first 20 minutes or so, today. Missed out on 60 Dow points
Anybody had problems before? It seems to me that I could only get logged on once I'd lost the chance to profit. Am I being too suspicious?
Could it be avoided by logging on earlier or will you just be cut off anyway?
BTW, congratulations to Justyn & co.
Staying in the channel all day today, failing to get to 664..... ND setting in now over 3 days so I guess it's down......
Note the correlation between the triangles on RSI and the peaks/troughs on CCI.
The triangle on CCI certainly delivered a decent move. Is this setup worth noting for an overnight punt? There's a lot of big moves pre-market/overnight and it's usually a blind gamble taking an overnight position, but in this case, the signs were there to see.Probably only worth it on futs with a guaranteed stop....
Note the correlation between the triangles on RSI and the peaks/troughs on CCI.
The triangle on CCI certainly delivered a decent move. Is this setup worth noting for an overnight punt? There's a lot of big moves pre-market/overnight and it's usually a blind gamble taking an overnight position, but in this case, the signs were there to see.Probably only worth it on futs with a guaranteed stop....
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Just a quicky..... Chart is commented with the usual stuff, but the thing to noe is the late triangle on RSI. There are those that say there are no "leading indicators". This is the exception. It's not a leading indicator as such ( we all know that's not possible) but it IS a "leading set-up" !!! The RSI triangle breaks before the price does, and forms a nice RS Switch in the process. You can jump on these, but they are not common.
The flags in the middle of the big moves ar not clear at the time, but as the move progresses, if you are in the trade they do provide remarkably good target values. Why? I've no idea, but they do....... Neither targets today look anything like a bull or bear flag, but they deliver a target as if they were. Fine if you spot them, I guess.
Good day for creaming it off the 64's. :cheesy:
The flags in the middle of the big moves ar not clear at the time, but as the move progresses, if you are in the trade they do provide remarkably good target values. Why? I've no idea, but they do....... Neither targets today look anything like a bull or bear flag, but they deliver a target as if they were. Fine if you spot them, I guess.
Good day for creaming it off the 64's. :cheesy:
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tradesmart
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Nonsense – that was the 32nd time at least you’ve checked my profile…….!
You’re naughty but I like you………. :cheesy:
As I say – stick with CM’s charts if you want to learn targets (etc.etc)……..
TraderTony
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I was asked which software, broker etc I use so here's a quick overview. Please check everything out yourself and although I am very happy with all these providers this is not a recommendation etc.
Broker: Interactive Brokers www.interactivebrokers.com (or .co.uk). I trade the MiniDow contract ($5 per point). Spread is 1 point normally during regular trading hours. Commission per contract is a little under $5 per round trip (i.e. allow one point per trade for commission). Data costs for MiniDow are free I believe if you generate more than $30 per month in commissions (otherwise $10 per month).
Charts: Sierra Chart (www.sierrachart.com). Costs $12 per month or $90 per year. You can use IB as the data feed without further cost (but data will only collect when you are connected). I subscribe for for a full live and backfill data feed add on to Sierra from MyTrack which costs me $20 per month as I have an MyTrack account.
Trading front end: rather than trading directly from the IB interface (which is perfectly possible) I use a front end called Ninja Trader (www.ninjatrader.com) which makes trade entry and management extremely easy (pre-set targets, stop losses etc are all options and all can be instantly adjusted with one click of the mouse). This costs from $29 per month depending on whether you want to trade single or multipe products at the same time.
Hope this helps,
Tony
Broker: Interactive Brokers www.interactivebrokers.com (or .co.uk). I trade the MiniDow contract ($5 per point). Spread is 1 point normally during regular trading hours. Commission per contract is a little under $5 per round trip (i.e. allow one point per trade for commission). Data costs for MiniDow are free I believe if you generate more than $30 per month in commissions (otherwise $10 per month).
Charts: Sierra Chart (www.sierrachart.com). Costs $12 per month or $90 per year. You can use IB as the data feed without further cost (but data will only collect when you are connected). I subscribe for for a full live and backfill data feed add on to Sierra from MyTrack which costs me $20 per month as I have an MyTrack account.
Trading front end: rather than trading directly from the IB interface (which is perfectly possible) I use a front end called Ninja Trader (www.ninjatrader.com) which makes trade entry and management extremely easy (pre-set targets, stop losses etc are all options and all can be instantly adjusted with one click of the mouse). This costs from $29 per month depending on whether you want to trade single or multipe products at the same time.
Hope this helps,
Tony
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sall said:
Sall,
Margin for one mini-Dow using IB is $2,500 to open one contract ($5 per point). They'll close you out, if you've less than $2,000 per contract in the pot by end of day.
Additionally, when/if you open extra positions you will need the full $2,500 dollars margin for each and every position you carry plus the new one.
Confusing? Moi?
Sun123
Are you sure your figures are correct? I thought IB required about $2000 or $2500 per $5 contract you trade on the Emini Dow.
I doubt they would offer $500 as the minimum, the Dow can easily move 100 points or more very quickly, just look at last Friday's opening action. Your $500 could be wiped out in an hour and they have to require a minimum balance to allow for this.
Do you have a link where they say they are allowing a balance of $500 per contract?
Justyn.
Are you sure your figures are correct? I thought IB required about $2000 or $2500 per $5 contract you trade on the Emini Dow.
I doubt they would offer $500 as the minimum, the Dow can easily move 100 points or more very quickly, just look at last Friday's opening action. Your $500 could be wiped out in an hour and they have to require a minimum balance to allow for this.
Do you have a link where they say they are allowing a balance of $500 per contract?
Justyn.