The Market Matrix

robster4 said:
added to short at 1172

could possibly hit 1174 so stops with room above there

thereagain...!!!! stops lowered to lock in profit again

That looks like a mega call you just made there Rob
 
Not really - and to be frank I should have waited a bit longer...

I'm not going to complain about a profit, but I'm glad I got another shot at 1172 - I actually didn't intend to day trade today but it's working out pretty nicely considering it's just going rangebound.



mofo said:
Without giving too much away, were you basing your entry here on a 50% fib retrace between 1168 and 1172? I was just curious since things looked heavily oversold to me at your point of entry ?

Thanks
 
robster4 said:
Not really - and to be frank I should have waited a bit longer...

I'm not going to complain about a profit, but I'm glad I got another shot at 1172 - I actually didn't intend to day trade today but it's working out pretty nicely considering it's just going rangebound.

Gotcha, understand now thanks. Just interested as since its rangebound, the simple stochastic 14,3,3 is also calling the tops / bottoms on the button so far
 
I don't use stochastic.

MM has an emphasis on time. Price comes secondary to that.

mofo said:
Gotcha, understand now thanks. Just interested as since its rangebound, the simple stochastic 14,3,3 is also calling the tops / bottoms on the button so far
 
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thanks mofo...

I wouldn't be surprised to see us hit a new low (for the day) before the end of the day


mofo said:
That looks like a mega call you just made there Rob
 
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this is very boring today...so far. should be some fun and games perhaps tomorrow or monday, or if we're lucky by the end of today.
 
can i just say that what's happening, has nothing to do with programme buying/selling. although the market has been dull today until just now, it has still worked according to MM principles as you can see from my entries.

that's not to slate someone else's opinion, and it's also not to say i'm going to get it right every time either, but i will always take responsibility for my own bad trades and will not blame other factors. that's part of why MM is so appealing. as soon as you start blaming external factors you betray the fact that you're not in control of your own trading plan.

i've just closed my shorts and will look to re-enter around 1170 and with a very tight stop - may even consider 1168ish but will say when.


FetteredChinos said:
looks like programme buying/selling...? :eek:

offloading posns bought yesterday perhaps?
 
short again on the bull flag at 1165 - tight stop at 1166.9 - this could be the final move before we climb back up later on or early tomorrow
 
closed out of that one

robster4 said:
short again on the bull flag at 1165 - tight stop at 1166.9 - this could be the final move before we climb back up later on or early tomorrow
 
i'm in for a small long at 1161.5

...

i have to admit, this could be premature for a long - have to extend my sell stop to below 1158 and take a drawdown

...

in my excitement i made a small miscalculation - nothing too serious but i should have waited for 1159 area but was too thick to do some simple calculation in my head! anyway, i'm sure you'll forgive me
 
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ok - i've closed the long for a 0.5 point loss. now i want to catch the next down move - will place sell limits a few points higher and a sell stop a bit lower. just want to make sure i don't miss the next move down.
 
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BTW - these posts have been for day-trading - i also have a longer term short on from a while ago at an average price of 1176.

i have to say - longer term trading is much less strenuous, but this has been a fun day. look for the upward retracement tomorrow, though a new low is also on the cards.
 
Hi
You seem to be trading the s+p very well with the system, the retails sales numbers were very strong today but stocks were still hit hard. Have you tried the systenm day trading foreign exchange
Regards
Tony
 
thanks tony

not yet - but i do know people who love trading mm with the cable in particular.

to be honest i didn't even look at the news - you don't with mm. it simply didn't matter what happened in the news, during the last few days it was clear to us that we weren't going to get above the 1179 area again for a while.

being brutal, if mr copan had seen me trade today he would have crucified me because i made a couple of silly miscalculations and was a bit trigger-happy. but that's simply my lack of experience with the technique, which psychologically, i still have to get used to a bit. as i was saying to ferrari earlier, mm has profound implications elsewhere in life, not just trading.

this was a really good day and yet i could have made it even better if i hadn't been silly.

best regards

rob



tonym said:
Hi
You seem to be trading the s+p very well with the system, the retails sales numbers were very strong today but stocks were still hit hard. Have you tried the systenm day trading foreign exchange
Regards
Tony
 
robster4 said:
as i was saying to ferrari earlier, mm has profound implications elsewhere in life, not just trading.
..........
rob

Rob,

Any chance you can fill us in on this as well please mate?

Cheers...
 
Robster

Im new to this thread and i am interested if the MM predicted the turning point last monday at 1178.87???


:p
 
nice work !

Hi Robster

Nice work with the MM system so far !

It was nice to have your comparison with your timing.

The 38.2% retrace held and timing was good between the 5th to 11th May.

looking good so far on this decline.

Im also wondering if between the 16th to 22nd May could see some important timing and reactions.

I need to analyse this time frame in more detail if i can.

cheers Pete


robster4 said:
Peter

Personally, I'm looking at today or tomorrow. 1181 or 1185 on the S&P for a short. Watching closely and trying to time it to perfection! I wouldn't be suprised to see a retrace early today before one final push up to those levels.

Rob


Hello

I havent as yet got MM but Id be curious if robster or any Others who use MM see this next few days as a VITAL timeframe for the Spx / Dow.

The system I use shows some very strong potential time signals between friday to Tuesday.

I suspect if the dow breaks its recent 38.2% retrace of the last 1000 pts range we should see a possible top out between 10500 to 10700 either Friday , Monday or tuesday.

Best estimate would be 10600 to 10666.

Id appreciate any MM comparison.

Pete
 
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