ES and the Great POMO Rally - Emini Index Futures Trading | futures io social day trading
futures io futures trading


ES and the Great POMO Rally
Updated: Views / Replies:92,496 / 926
Created: by Private Banker Attachments:620

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 620  
 
Thread Tools Search this Thread
 

ES and the Great POMO Rally

  #881 (permalink)
Elite Member
Georgia, US
 
Futures Experience: None
Platform: Various
Favorite Futures: Various
 
josh's Avatar
 
Posts: 4,897 since Jan 2011
Thanks: 5,143 given, 11,242 received

Here is a profile with areas of interest marked:

First a 9 day profile showing the 1180 to 1230 ish range:
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Now just the last 5 days, the weekly profile:
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Areas of interest below:

1216 - 1220 (weekly pivot, VAH, s/r for thurs/fri)
1207 - 1208.50 (vpoc)
1201 - 1204 (weekly S1, s/r from thurs/fri and prior week, low volume zone)
1185 - 1189 (pw-low, major support, VAL)

Longer term players looking at a 240m or daily chart will only see support around 80-85, IMO.

For above:
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


I don't see anything really until 1252-1259. Projecting beyond that I would venture a guess at 1290, but it's really pointless to look there right now IMO; we need more information.


Last edited by josh; October 24th, 2011 at 09:37 AM.
Reply With Quote
The following 3 users say Thank You to josh for this post:
 
  #882 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received

@josh,

Please wrap screencast URL's in the screencast BBcode tag [screencast]url-here[/screencast]

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #883 (permalink)
Elite Member
Georgia, US
 
Futures Experience: None
Platform: Various
Favorite Futures: Various
 
josh's Avatar
 
Posts: 4,897 since Jan 2011
Thanks: 5,143 given, 11,242 received



Big Mike View Post
@josh,

Please wrap screencast URL's in the screencast BBcode tag [screencast]url-here[/screencast]

Mike

futures.io (formerly BMT) seems to have the most up to date forum software with all this kind of cool stuff, didn't know about that tag, thanks

Reply With Quote
 
  #884 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received


josh View Post
futures.io (formerly BMT) seems to have the most up to date forum software with all this kind of cool stuff, didn't know about that tag, thanks

hehe, it's not so much up-to-date as it is me writing custom code all the time and hiring programmers for custom projects.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:
 
  #885 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received

Another big move up today.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


This type of move just emphasis time and time again how important it is to trade what you see in front of you. Don't let external influences give you too much bias one way or the other where you think the market is vastly oversold or overbought, and that influences your decisions. If you are an intraday trader or a short term trader not holding positions for weeks, then you should really focus on what is on your screen and not on what the talking heads are babbling about.

Everyone is always afraid to miss the next huge move, the next huge sell off, whatever. Trust me, if we see a huge correction in the market there will be plenty of time to get short. Let's at least first have the Daily and weekly charts trading below their monthly and weekly VWAP before we start going heavy short

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 4 users say Thank You to Big Mike for this post:
 
  #886 (permalink)
Elite Member
Georgia, US
 
Futures Experience: None
Platform: Various
Favorite Futures: Various
 
josh's Avatar
 
Posts: 4,897 since Jan 2011
Thanks: 5,143 given, 11,242 received


Big Mike View Post
hehe, it's not so much up-to-date as it is me writing custom code all the time and hiring programmers for custom projects.

Mike

Well, it is greatly appreciated. Thanks for the hard work and time and effort you put into the forum.

On an ES note, I did short the 52 as I had it as a resistance area in my chart. Unfortunately I accidentally closed half my position at BE (I don't recall doing it but I must have, as I looked down and saw that half my position was open). Then I got a little nervous, thinking that perhaps there was a problem with my broker connection so I closed the other half at BE as well. That would have been a nice counter trend down.

For the move up, I bought 40 at 10am, walked away for a few minutes with my stop at 39, and looked in horror as I came back to find price moving up without me. I sold the low tick of the retrace, and was too stunned to get back in. Add a couple of bonehead trades on top of that and it was a less than desirable day for me. But, there's tomorrow.

Reply With Quote
 
  #887 (permalink)
Elite Member
Portland, OR
 
Futures Experience: None
Platform: tos
Favorite Futures: NQ, SB, 6J, CL, GC
 
Massive l's Avatar
 
Posts: 1,458 since Mar 2011
Thanks: 922 given, 1,822 received


Big Mike View Post

This type of move just emphasis time and time again how important it is to trade what you see in front of you. Don't let external influences give you too much bias one way or the other where you think the market is vastly oversold or overbought, and that influences your decisions. If you are an intraday trader or a short term trader not holding positions for weeks, then you should really focus on what is on your screen and not on what the talking heads are babbling about.

Everyone is always afraid to miss the next huge move, the next huge sell off, whatever. Trust me, if we see a huge correction in the market there will be plenty of time to get short. Let's at least first have the Daily and weekly charts trading below their monthly and weekly VWAP before we start going heavy short

Mike

Well said! It's hard to do and takes a lot of mistakes to figure that out. At least for me it did.

I'm still long after buying 2 lots at 1235 and dumping one at 1248.
stop set below 1240 to absorb any London selling. We'll see...
I may look to short at 1238 if price decides to go that way
around 6:15am Pacific time.

Nice charts Josh. Love the low volume areas in the profile as pivot potential.

Psychology > Strategy ≥ Money
Attached Thumbnails
ES and the Great POMO Rally-screenhunter_01-oct.-24-14.43.gif  
Reply With Quote
 
  #888 (permalink)
Elite Member
Portland, OR
 
Futures Experience: None
Platform: tos
Favorite Futures: NQ, SB, 6J, CL, GC
 
Massive l's Avatar
 
Posts: 1,458 since Mar 2011
Thanks: 922 given, 1,822 received

I decided to take my last lot off the table at 1246
in anticipation of the evening fade.

Psychology > Strategy ≥ Money
Reply With Quote
 
  #889 (permalink)
Elite Member
Georgia, US
 
Futures Experience: None
Platform: Various
Favorite Futures: Various
 
josh's Avatar
 
Posts: 4,897 since Jan 2011
Thanks: 5,143 given, 11,242 received


Massive l View Post
Nice charts Josh. Love the low volume areas in the profile as pivot potential.

Thanks Massive -- what is the blue line on your chart?

Mike, how are you liking OBV? I have been tempted on more occasions than I can recall to use volume charts, however what gets me every time is that I use volume in my analysis, and this eliminates volume as a variable I have used a simple "time per bar" indication as well, but it's just not the same.

Reply With Quote
 
  #890 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received



josh View Post
Thanks Massive -- what is the blue line on your chart?

Mike, how are you liking OBV? I have been tempted on more occasions than I can recall to use volume charts, however what gets me every time is that I use volume in my analysis, and this eliminates volume as a variable I have used a simple "time per bar" indication as well, but it's just not the same.

I've been a fan for OBV for a long time. Just do a search for OBV and you'll find some old work I did.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:

Reply



futures io > > > > ES and the Great POMO Rally

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Great frozen pizza Tundi Off-Topic 6 June 10th, 2011 11:47 PM
FED'S SCHEDULE OF UPCOMING $32B IN POMO'S tigertrader Traders Hideout 1 October 13th, 2010 06:58 PM
A great trader to learn from. GoldStandard Traders Hideout 15 February 12th, 2010 12:45 PM
NATURE, OUR GREAT MENTOR. joyginy Psychology and Money Management 12 January 6th, 2010 01:34 PM
ES doing a great job of honoring BBs and TLs Saroj Emini Index Futures Trading 6 July 29th, 2009 03:10 PM


All times are GMT -4. The time now is 09:41 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-15 in 0.14 seconds with 20 queries on phoenix via your IP 54.91.171.137