Trading the E-mini

lunchtime here. might be tough to get a push up further for a while. Most likely it will drift down a bit.

Peter
 
I am finally going to put on my big boy pants and start trading this with you guys.

Probably going to play position at resistance and support and play close to attention to price action on the DOM as we approach these levels as that will tell me which way to play it.

I will keep you posted on the progress, although I generally don't look at anything the night before, because as you all know once the bell dings, all that can change on a dime, so I will be looking at momentum and reversal points during the day.

Hopefully I will have something useful to contribute.
 
Good luck Wino. Post your trades up and let us know how you are getting on. DOM + T&S will take a little getting used to.
 
robster970 said:
Good luck Wino. Post your trades up and let us know how you are getting on. DOM + T&S will take a little getting used to.
Click to expand...

I placed at trade today at 8:31... I knew there was news coming out, so I just set my tape to anything over a 100 lots, if it was buying I was buying and if it was selling I was selling.... Anyhow that is the way I play it...

It was good for two quick points, and I got out right at 1548....saw some resistance coming in... Not necessarily the way I trade but I saw this before when news comes out... and it really has no bearing on how the day plays out, but it is an easy way to score 2 points in less than 5 mins.

Just thought I would throw that out there, not sure if you guys trade on the news or not.

The news does affect the market, there is also something coming out at 10:00, and the Federal Budget at 2:00

Not saying they are difference makers, but the market usually reacts one way or another, so just something to keep in mind today and be on the look out for at those times.

I will post my regular trades today.

Robster .... I have been reading the DOM now for a couple of weeks, and really like trading that way, however I can be very taxing at times. It showed a real clear signal yesterday when we hit the lows... The long tail on the green bar, didn't necessarily tell the whole story of how quickly it played out, in less than 2 seconds the drop got completely absorbed in 5 ticks of prices, and someone came in and bought it all, and it immediately reversed, that kind of buying tells me that the market was going to switch direction... but I was watching the June contracts, not sure if it played out the same on the March.
 
13th March, 2014

Hi 1551.75, R1 – 1559.25
Support 1532-1532.50
Week Low – 1540.50
Gap on Pit Session Chart =1520.50 – 1526.50

Yesterdays Range 1541.75 -> 1551.75
Yesterdays Value 1543 -> 1547.50 (pretty narrow)
Globex Range – 1542.75 – >1549.75

10:00 – Business Inventory.

Grinding up, market very thick. To the upside be looking to stay above Mondays low. To the downside, there’s a gap on the pit session chart at 26.50 that a lot of people will be looking at.

8:30am news was good but didn’t push us out of the range – expect another rotational day with lots of 2 sided trading. Just look out for range extension and don’t presume it’s breaking out.
 
Trading the same way today as yesterday - longer TF moves on S/R rather than intraday. Same levels in flight.
 
thanks, have been kinda lurking for a day or two, so thought it was high time i popped my head above the parapet
 
Looking to fade the top of this little rally we will see what happens with the price action as we approach 48.
 
interesting a lot of you guys use the tape & DOM. in terms of longevity and preserving mental energy this seems a tough sport. can any of you see yourself trading the tape & DOM in 10 years time. Personally I am in the game for the long haul so my methods need to be such that they can be traded over decades without burnout. I am in my 30s now but I just cant see myself staring at the tape and DOM when I am in my 50s. it's all about staying in the game.
 
Well - I took a flight in an Airbus flight simulator about 10 months ago. It lasted an hour. At the end, I had to peel my fingers off the yoke & I was sweating like a blind les**** in a fish market.

As with any skill - it becomes easier over time. I actually think it has some benefit over watching a chart because it is moving and at least it's doing something. It also becomes a bit of a crutch, once you use it, it is hard to give up.
 
cablemonster said:
interesting a lot of you guys use the tape & DOM. in terms of longevity and preserving mental energy this seems a tough sport. can any of you see yourself trading the tape & DOM in 10 years time. Personally I am in the game for the long haul so my methods need to be such that they can be traded over decades without burnout. I am in my 30s now but I just cant see myself staring at the tape and DOM when I am in my 50s. it's all about staying in the game.
Click to expand...

For me, it is a supplementary piece of information to qualify events and sharpen timing. I use it in conjunction with 60m/30m/10m/3m charts and Market Profile.
 
cablemonster said:
interesting a lot of you guys use the tape & DOM. in terms of longevity and preserving mental energy this seems a tough sport. can any of you see yourself trading the tape & DOM in 10 years time. Personally I am in the game for the long haul so my methods need to be such that they can be traded over decades without burnout. I am in my 30s now but I just cant see myself staring at the tape and DOM when I am in my 50s. it's all about staying in the game.
Click to expand...

I think it is an invaluable tool and some people use it differently... I don't use it to scalp, but I could, it is just not worth the time, effort and commissions for me.

But if you look at my earlier post I was looking for a place to short and I could tell where to enter... The 47.50 were sticking, it would go up a offer, go bid but did not crack 47.75, so I figured the 47.50 would be a good place to go short.

I don't really look at at bid or ask, just price and volume traded, if I see it is getting absorbed and not moving up, then I take it...but it sort of has to stick for awhile, as I am looking for real money taking all the contracts, not just 100 lots, but if I see a couple hundred, then a 1000 trade there, and it doesn't move I assume there is a refreshing order and someone is trying to hold the market down, so I go with them. I thought we would get to the 48's, but when I saw that, I knew this was it.

Also charts only tell part of the story because even though I was short at 47.50, there was resistance at 46.75, look at the volume traded there, as I am I am typing this it is back at that level again... and pushing higher...so we will get another chance to fade this action.

Let's see if the 47.50 stick again.
 
wino59 said:
I think it is an invaluable tool and some people use it differently... I don't use it to scalp, but I could, it is just not worth the time, effort and commissions for me.

But if you look at my earlier post I was looking for a place to short and I could tell where to enter... The 47.50 were sticking, it would go up a offer, go bid but did not crack 47.75, so I figured the 47.50 would be a good place to go short.

I don't really look at at bid or ask, just price and volume traded, if I see it is getting absorbed and not moving up, then I take it...but it sort of has to stick for awhile, as I am looking for real money taking all the contracts, not just 100 lots, but if I see a couple hundred, then a 1000 trade there, and it doesn't move I assume there is a refreshing order and someone is trying to hold the market down, so I go with them. I thought we would get to the 48's, but when I saw that, I knew this was it.

Also charts only tell part of the story because even though I was short at 47.50, there was resistance at 46.75, look at the volume traded there, as I am I am typing this it is back at that level again... and pushing higher...so we will get another chance to fade this action.

Let's see if the 47.50 stick again.
Click to expand...

glad you like it. there is no right or wrong method just choices. I used to trade the eurostoxx for a while but the lack of volatility did my head in. that's why I stick to cable as it moves around like a bhatch. I am sure I will dabble with WTI in the future as that can bust a move. I do sometimes use the ES though as a risk on/off meter along with the YM and euro. For me the ES is THE measure of world equity flow.
 
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