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Yes, ES dropping off a cliff into never never land. Euro actually looks strong during this sell off. I'm not sure about it reaching 3500 though (40 ticks away), I still think we'll see a move up instead simply based on the direction of the delta the last two days.
520 a pretty good level to hold IMHO I'm done for the night but all action seems to be from US session at the moment, not sure about the Asian sess, will be back for frankie. Are you tracking cum delta ticks as well BM as fulcrum trader does, also if you have charts available it would be nice to have a look at es delta over the last day or 2. Finding delta very interesting, never looked at it this way before!
All my screen shots for the most part are from Sierra Chart, which shows cumulative delta volume as trade volume. If you see MultiCharts screen shots, those are cumulative delta volume as updownticks (not volume). I have both charts up, until Sierra implements the missing piece of updowntick.
Yes, Christopher turned me on to this method and I'm enjoying it so far. It was a rough start, but then I realized the MultiCharts indicator I was using was wrong and hence bad results. So now that I've been using a known-good indicator in Sierra Chart, it is working quite well.
I understand you don't use a mechanical approach. When I used the term trigger I meant it more as your criteria being met to enter. In other words, when you said "it was at resistance with negative delta" that would be your indication or trigger to enter? Also, in the past you would enter at the break of a swing low or high, so I was wondering if in conjunction of the resistance and negative delta that a swing low was taken out to "trigger" the trade?
I have been working to modify my order management approach for the last 8 or 9 months, basically around the same time I started trading the Euro. I now mainly find myself adding to existing positions on breakout/breakdowns, instead of initiating new positions at those points. I start small with small size and set my initial 'ultimate' targets way out there, say 100-125 ticks. Then I scale in as things start moving in my favor, and I typically set each scale in position to a little less ultimate target. So lets say I am in with 6 contracts, I will have six different targets staggered maybe 60 ticks apart from each other.
Thinking of turning in early tonight instead of burning the midnight oil managing trades. I just exited all my positions at 3550. Seemed like a good place to get out, since I may not be back on the computer for a while.
Fact is, we moved up pretty nice in 2 hours time -- more than usual for this time of night. And combined with bumping up against a downward sloping regression channel, and me having a really terrible headache and feeling exhausted, I just decided to pack it in for tonight and take my ticks.
